We have a very interesting market activity in our Lithium top pick today. This group is fighting its demons all the time. TNR Gold was punished in the market quite a few times already, but with International Lithium this Flash Crash has happened for the first time.
We have almost missed this one - we were busy on Friday. When we checked our screen with TNR Gold trading below 0.16CAD at one point, we thought it is a Flash Crash in the markets again." But markets were...fine, DOW was strongly Up, US Dollar down and Gold was holding at new high. Situation became even more interesting when we have checked the tape:"
Somebody managed to pick up a very few cheap shares and somebody has checked out the authorities' take on it. Company is not sleeping and IIROC was on top of things straight from the opening - they must be monitoring the company after TNR Gold's "hedge funds" games with automatic trading. Canada is famous, unfortunately, for the naked short trading in juniors and other really nasty things, when narrowly traded juniors can be easily manipulated in the market place. But this company is different and has already recovered, we do not think that it is connected somehow to the TNR Gold litigation case on Los Azules - it must be just really a "fat finger" trade again.
Another very interesting observation about this group is that insiders in both companies continue to buy the shares with every opportunity in TNR Gold and International Lithium as well.
"TNR Gold Corporate Update Post Lithium Spinoff and Litigation Update On Los Azules case. Very interesting part is the link to the new Los Azules page on TNR Gold website, now we can see the recent Judgement and Application from TNR Gold for the new claim on Los Azules. Recent sell off in the company share price looks like another punishment - we have seen it a few times already during the last year. Will be interesting to see who is buying. This tree will not be shaken, these people know what they are doing and the magnitude of recent litigation is matched very well by the profile of the people involved in it."
Another very interesting observation about this group is that insiders in both companies continue to buy the shares with every opportunity in TNR Gold and International Lithium as well.
"TNR Gold Corporate Update Post Lithium Spinoff and Litigation Update On Los Azules case. Very interesting part is the link to the new Los Azules page on TNR Gold website, now we can see the recent Judgement and Application from TNR Gold for the new claim on Los Azules. Recent sell off in the company share price looks like another punishment - we have seen it a few times already during the last year. Will be interesting to see who is buying. This tree will not be shaken, these people know what they are doing and the magnitude of recent litigation is matched very well by the profile of the people involved in it."
Please, do not forget, that we own stocks we are writing about and have position in these companies. We are not providing any investment advise on this blog and there is no solicitation to buy or sell any particular company here. Always consult with your qualified financial adviser before making any investment decisions.
July 4, 2011 - 02:39:49 PM
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 4, 2011) - International Lithium Corp. (TSX VENTURE:ILC)(TSX VENTURE:ILC.WT) (the "Company") announces that due to a trade input error, an action completely unconnected to the Company and independent of the Company's business, there was an undue impact on the Company's market price.
At the market open this morning, July 04, 2011, 50,000 shares of the Company were erroneously sold 'At Market' (the "Trade") which materially decreased the share price of the Company. The Investment Industry Regulatory Organization of Canada ("IIROC"), the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada, made a ruling for the purpose of market integrity to allow the Trade to stand and assigned a $0.14 market floor for the Trade share price.
"The erroneous trading activity and resulting fluctuation in our share price that occurred this morning is absolutely unrelated to any aspect of our Company and is an unfortunate isolated event," states International Lithium Corp. President Mike Sieb. "There has been no material change to the Company or its projects and I maintain full confidence in our endeavours moving forward."
ABOUT INTERNATIONAL LITHIUM CORP.
International Lithium Corp. is an international rare element metals ("REM") mineral exploration company with an outstanding portfolio of projects, strong management ownership, robust financial support and a prominent lithium product manufacturer as a keystone investor.
ILC currently has 9 active REM projects, well balanced between lithium brines in Argentina and Nevada and hard-rock pegmatites in Canada and Ireland. The Company's primary focus is the Mariana lithium brine project, a salar or 'salt lake', covering an expansive 160 square kilometres and strategically encompassing the entire basin. Mariana is located in the renowned South American 'Lithium Belt' centred around the junction of Argentina, Bolivia and Chile that is host to the vast majority of global lithium resources, reserves and production. The Mariana lithium brine project ranks as one of the more prospective salars in the region.
Complementing the Company's lithium brine projects are the REM pegmatite properties. The key outstanding characteristics shared by these hard-rock REM projects are their underexplored nature, excellent accessibility, under-analyzed rare metals' history, significant potential that additional exploration will add project value and ultimate potential ability to develop the projects to meet the global technological growth in demand for the REM suite of elements.
International Lithium Corp.'s mandate is to increase shareholder value through aggressive advancement of its core projects and to source joint venture partners to expand the scope and diversify risk of its exploration effort.
On behalf of the Board,
Mike Sieb, President - International Lithium Corp.
Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
Shares CUSIP: #459820 10 6
Warrant CUSIP: #459820 11 4
FOR FURTHER INFORMATION PLEASE CONTACT:
International Lithium Corp.
Mike Sieb
President
(604) 687-7551 or 1-800-667-4470
(604) 687-4670(FAX)
info@internationallithium.com
www.internationallithium.com"
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