Ibat is controlled by ensorcia, which is driving the value. My opinion, the two will reverse merge. I believe their business will be a royalty intensive model, with all the major producers using the technology. The capex is 1/3 that of evaporation ponds and the opex is half that of lilac tech. Ion exchange has been tried for decades and has always been deemed uneconomical. I think you will continue to be surprised by ibat. They were recently featured at BMO Global Mining Conference, funding is not going to be a problem. Things have always been going on behind the scenes at IBAT; in this case the silence really did turn out to be golden.
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