Lithium Company Reveals Major Highlights from Q3 2023

IberAmerican Lithium Corp. (IBER:NEO) announced through a press release that it has filed its financial statements for Q3 of 2023, ending with September 30. The company had several highlights to report, including that its subsidiary company had closed a private placement that raised CA$9,112,622 with a total of 36,450,488 units valued at CA$0.25 each.

The company also reported that it made a new acquisition of 30% interest in investigation permit Number 5186 in relation to the Alberta II and Carlota lithium projects from Strategic Minerals Europe Corp. IberAmerican reports that it now owns 100% of the rights to these projects, and that these permits give the company the green light to begin its exploration project in Q4 on the Alberta II project. According to the company, the exploration efforts will include 40-50 drill holes.

IberAmerican also reported that at the end of Q3, it had no debt, and had CA$4.4 million in cash or cash equivalents, and that it had enough to commence with the planned exploration program.

On October 9, 2023, Streetwise Reports covered the company’s assay results, which included encouraging results of 1.00% lithium oxide (Li2o).

Lithium Supported by Governments in Chile, US

Stockhead’s Bevis Yeo recently reported on how Chile’s lithium strategy could affect the larger market. Chile has announced that it intends to levy a 136% premium on the 30-day volume weighted average price, which Stockhead believes to be more favorable terms than expected. Stockhead reported that the country has already seen an investment of US$233.2 million from Tsingshan Holding Group in its lithium infrastructure. The country may be transitioning towards a more favorable outlook towards granting mining leases, said Stockhead.

The Biden Administration also recently released its National Blueprint for Lithium Batteries, intended to cover from 2021 to 2030. The document enumerated several goals, including initiatives to “secure access to raw and refined materials and discover alternatives for critical minerals for commercial and defense applications” and “support the growth of a U.S. materials-processing base able to meet domestic battery manufacturing demand.”

Major Milestones Ahead

The company has a number of catalysts to report, according to its investor presentation, including an exploration program for 2023 and 2024 that is expected to include drilling on known mineralization, infilling to get a better geological picture of the properties, mapping on the western areas on the Alberta II project and the Carlota Property, 43 drill holes, and a Mineral Resource Estimate for the Alberta II project.

Ownership and Share Structure

Reuters provided a breakdown of the company’s ownership and shareholder information, where management and insiders own approximately 13.01% of the company. According to Reuters, Independent Director Miguel Angel de la Campa owns 5.00% of the company with 5.48 million shares, CEO Campbell Becher owns 4.18% of the company with 4.58 million shares, Chairman Eugene C. McBurney owns 3.65% of the company with 4.00 million shares, and Independent Director David Young owns 0.18% of the company with 0.20 million shares.

According to Reuters, 27.86% of the company, as Delbrook Capital Advisors Inc. owns 17.81% of the company with 19.50 million shares, and Brockville International Holdings Ltd. owns 10.05% of the company with 11.00 million shares.

Reuters reports that there are 109.5 million shares outstanding and 84.25 million free float traded shares, while the company has a market cap of CA$11.97 million and trades in the 52-week period between CA$0.13 and CA$0.40.

Important Disclosures:

1. IberAmerican Lithium Corp. has a consulting relationship with an affiliate of Streetwise Reports, and pays a monthly consulting fee between US$8,000 and US$20,000. 
2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of IberAmerican Lithium Corp.
3. Amanda Duvall wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. 
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