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Friday, November 27, 2020

International Battery Metals Ltd (OTCMKTS:RHHNF) Moves Onto the Lithium Scene with a Bang

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International Battery Metals Ltd (OTCMKTS:RHHNF) is a company now specializing in lithium extraction from oilfield brines. Shares are seeing a sharp increase in attention of late, with trading volume spiking over recent days. RHHNF closed last week with a clear breakout to test key resistance at the $0.50/share level. Helping to spur the action, the company just announced that it has commenced closing on the Definitive Share Exchange Agreement with Selective Adsorption Lithium, Inc. (SAL) and North American Lithium, Inc. (NAL) announced earlier this month.

According to its most recent release, “the Company has begun finalization of the transaction by making the required payments to NAL for NAL’s proprietary documents and data related to locations of candidate oilfield brines that are compatible with IBAT’s patent-pending third-generation extraction technology. All parties are now proceeding with completing the remaining documentation to finalize the transaction.”

International Battery Metals Ltd (OTCMKTS:RHHNF) bills itself as a company that operates as an exploration company in Canada. The company focuses on the exploration and development of natural resource projects targeting metals used in the manufacturing of batteries. It primarily focuses on exploring lithium deposits.

The company was formerly known as Rheingold Exploration Corp. and changed its name to International Battery Metals Ltd. in August 2017. International Battery Metals Ltd. was founded in 2010 and is headquartered in Vancouver, Canada.

According to company materials, “IBAT is an advanced technology company focused on lithium brine extraction. The company is in the process of creating and applying intellectual property related to lithium extraction from oilfield brines for petro-lithium extraction projects. IBAT’s unique extraction process is environmentally friendly, low cost, and has the potential to produce high-quality, commercial grade lithium at a much faster rate than the current industry standards.”

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As noted above, the company has been pushing into the lithium mining space as a play on the lithium-ion battery boom. Shares have been curling higher on growing volume following a breakout above the 50-day simple moving average. The company’s most recent announcement of a Definitive Share Exchange Agreement with Selective Adsorption Lithium is the latest catalyst pushing the story.

John Burba, the incoming chairman and chief executive officer of the Company, stated “These deliveries and payments are major steps forward in closing this transaction. I look forward to developing this unique proprietary technology for lithium extraction within the Company and building long-term value for Company shareholders.”

“This commencement of closing, along with the recent filing of a patent application, are strategic steps for the Company in developing the extraction technology and system designs for deployment in the United States and other countries”. Burba also commented that “Our patent filing was the first of many that the Company is working on to protect our third-generation technology as we begin building our intellectual property portfolio and optimizing our processing techniques. These filings and our rapid development of this technology will help to ensure the Company’s competitive leadership in the lithium extraction arena.”

We’ve witnessed 85% added to share values of the listing over the past month of action, but this action is running counter to the larger trend in the name. The situation may be worth watching: the stock has registered increased average transaction volume recently, with the past month seeing just under 1100% above its longer-run average levels. Traders should note this as important with a float in play that’s very limited — of 26.4 million shares.

At this time, carrying a capital value in the market of $12.79M, RHHNF has a stash ($189K) of cash on the books, which stands against about $200K in total current liabilities. One should also note that debt has been growing over recent quarters. The company is pre-revenue at this point. This is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $RHHNF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $RHHNF, either long or short, and we have not been compensated for this article.

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