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 wholly-owned 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 acquired the remaining 30% interest in investigation permit Number 5186 in relation to the Alberta II and Carlota lithium projects from Strategic Minerals Europe Corp. and now owns 100% of the rights to these projects. Upon receipt of these permits, the company has 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, 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 Consumption To Reach 3.8 Million Tons by 2035

Lithium is an important element used in the production of batteries. As noted by Zimtu Research, "As the world pivots towards cleaner energy solutions and a reduced carbon footprint, the demand for lithium has surged, reshaping the global market dynamics."

This surge is expected to continue, as Statista reports, "In 2030, the global demand for lithium is expected to surpass 2.4 million metric tons of lithium carbonate equivalent, doubling the demand forecast for 2025. Increases in battery demand for electric vehicles will be a strong driver of lithium consumption in the next decade, with demand expected to reach 3.8 million tons by 2035."

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.

27.86% of the company is held by institutions. 

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. 
4. The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

For additional disclosures, please click here.