John Wisbey Is Pleased To Report: After Granting Himself Options And Convertible Debenture At 8.5 Cents He Can Become The Largest Shareholder Of International Lithium.

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It will be very interesting what kind of questions ILC shareholders will be asking "the new management":

International Lithium Announces Convertible Debenture Private Placement

https://internationallithium.com/international-lithium-announces-convertible-debenture-private-placement/

"Vancouver, B.C. March 29, 2018: International Lithium Corp. (the “Company” or “ILC”) (TSX VENTURE: ILC) announces, further to its news release of March 23, 2018, that it will conduct a non-brokered private placement (the “Private Placement”) of a secured convertible debenture (the “Debenture”) in the principal amount of up to CAN $1,180,000 with John Wisbey, Chairman, CEO and a significant shareholder of the Company. The Debenture will mature on June 19, 2019 and bear interest at a rate of 15% per annum, payable quarterly.  The lender may convert at any time, all or a portion of the convertible loan principal into common shares of the Company at a price of CAN $0.085 per common share, being the closing trading price of ILC shares on March 28, 2018. Should Debenture conversion take place more than one year after closing, the conversion price will be CAN $0.10 per common share.

The Debenture will be secured by a general security agreement against the Company’s assets.

Mr. Wisbey currently owns or controls 2,261,000 common shares of the Company, representing 2.39% of the outstanding shares, and securities convertible or exercisable into 6,255,943 common shares.  If all these securities were converted or exercised (and if no others of the same class were converted or exercised) this would represent 8.45% on a diluted basis.  Should the CAN $1,180,000 Debenture and all other securities be converted, Mr. Wisbey would own 22,399,296 shares, representing 19.52% on a diluted basis,  calculated on the basis of  no other securities of the same class being converted. If the new convertible debenture were converted in full,  Mr. Wisbey would become the largest shareholder of the Company."

It looks like "the new management'" has to learn the business they are Taking Over first - before rushing more NRs or "printing cheap shares and options for themselves":

International Lithium Provides Corporate Update

https://www.geologyforinvestors.com/international-lithium-provides-corporate-update/

Question 1 "In total, the Company needs to raise around CAN $5 million of finance in 2018 to meet its commitments to fund Mariana, Avalonia (???) and pay staff and suppliers."

Avalonia was fully funded by Ganfeng Lithium on January 11, 2018.

International Lithium Reports $1 million Budget for the Avalonia Lithium JV, Ireland

"January 11, 2018 The ownership of the Avalonia project is currently 55% GFL and 45% ILC. GFL have an option to earn an additional 24% by either incurring CDN$10 million expenditures on exploration activities or delivering a positive feasibility study on the project, at which time the ownership will be 79% GFL and 21% ILC."

https://internationallithium.com/international-lithium-reports-1-million-budget-avalonia-lithium-jv-ireland/

Question 2 "This week the Company has drawn down around CAN $200,000 of short term financing from John Wisbey out of a total being made available by John Wisbey of CAN $1,180,000. The funds were used to pay and cure a Mariana cash call that was in default, pay an accounting fee to allow completion of the year-end financial statements so that they can be filed on time, and to pay certain other overdue creditors." 

How everything was done with just $200,000? Is Ganfeng suddenly in love with John Wisbey and ILC does not have to pay cash calls in full amounts on time?

Question 3 "The new management needs to address the level of risk that the Company has consequently been placed in, including meeting the need to pay staff and suppliers as well as meet the cash calls on Mariana and other projects."

All "other projects" were funded by JV Partners in January 2018?

International Lithium Announces Completion of Successful Drill Program at Mavis Lake Lithium Project

https://internationallithium.com/international-lithium-announces-completion-successful-drill-program-mavis-lake-lithium-project/

"February 19, 2018

About the Mavis Lake Lithium Project 

The Mavis Lake Project is situated 19 kilometres east of the town of Dryden, Ontario.  The Project is ideally situated in close vicinity to the Trans-Canada highway and railway major transportation arteries linking larger cities such as Thunder Bay, Ontario, to the southeast and Winnipeg, Manitoba, to the west.

The current drill program is wholly funded by Pioneer as part of its earn-in on the Mavis Lake Project (see Company news release dated March 14, 2016).

The Mavis and Raleigh projects are under option to strategic partner Pioneer Resources Limited (ASX: PIO) pursuant to which Pioneer can acquire up to a 51% interest in the projects."

Update: Thank you, we have received more questions for "the new management" of ILC to answer:

More Questions:

4. What else "the new management" has forgotten to report and/or reported "what looks like "materially different" compared to the real statements of facts"? When the NRs are coming to clarify the continuous disclosure for ILC for shareholders? 

5. Has company granted any options at this "what looks like "artificially depressed" share price level"? Who has voted on it? Are they the same directors who are getting these options? Are they conflicted and interested parties? Has "new management" used this created opportunity to "what looks like can be maybe qualified" as "unlawful enrichment"?

6. Is company in default on any of its obligations?

7. Is company in a cross default on any of its obligations?

8. Who has voted and approved Change of Control at ILC?

9. Who has voted and approved this "financing" at such "what seems to be an "artificially depressed" share price level"? Are they the same people who are getting this Convertible Debenture? Are they conflicted and interested parties? Has "new management" used this created opportunity to "what looks like can be maybe qualified" as "unlawful enrichment"?

You can leave us your questions in comments to this post or send them directly.

More questions are coming ...

China Rolls Out Welcome Mat for Electric Cars: Ganfeng Lithium Partners with International Lithium in Argentina and Ireland. $ILC.v $TNR.v $TSLA $LIT

Kirill Klip.:

China Rolls Out Welcome Mat for Electric Cars: Ganfeng Lithium Partners with International Lithium in Argentina and Ireland.

Financial Post:

China Rolls Out Welcome Mat for Electric Cars: Ganfeng Lithium partners with International Lithium in Argentina and Ireland.

According to the World Bank, air pollution costs China as much as $300-billion a year in health problems and productivity losses.

In response, the Chinese central government just announced a slate of pro-electric car policies, including slashing charging station rates by 30%. Navigant Research predicts that global lithium ion battery sales will increase 400% by 2023.

A Canadian company is strategically positioned to benefit from this macro-trend.

On Aug. 5, International Lithium Corp (ILC-TSX.V) announced that it has secured 100% interest in the Mariana lithium brine property in Argentinawhile finalizing a joint venture with Ganfeng Lithium (002460-SHE) – a $1.3-billion Chinese goliath producing industrial grade lithium for new energy, new medicine, and other industries.

“Ganfeng has an army of lithium-focused geologists who looked at projects in every corner of the planet,” stated ILC president Kirill Klip in an exclusive interview, “but they chose ILC to do business with. This is a big de-risking factor for our current and future shareholders. The Chinese do their homework. They believe in the geology of our assets, our management and our development strategy.”

Ganfeng is in the process of buying a lithium battery company in China. That transaction is expected to be completed Q4 2014. They are currently one of the world’s top lithium producers.

Under the terms of the agreement, Ganfeng now holds an 80% interest in the Mariana project and they will loan ILC up to $2-million to cover ILC’s required contribution to the joint venture.

HandoutVertically integrated Ganfeng Lithium holds an 80% interest in ILC’S Mariana project in Argentina – de-risking it financially and geologically.

Klip is a MBA-trained economist who has extensive experience in banking, transportation, mining, telecommunications and internet industries.

ILC was initially spun out of TNR Gold Corp., a mineral exploration company with a strong portfolio of assets such as the Shotgun gold project in Alaska and the back-in rights to McEwen Mining’s world renowned Los Azules copper property in Argentina. TNR Gold holds 25.5% in ILC. Ganfeng Lithium holds 17.5%. Klip is the largest individual shareholder in ILC. The company is tightly held by the insiders and management.

ILC retains the right to “buy back” a 10% interest in the Mariana property by repaying Ganfeng 10% of its total incurred exploration costs.

“In the context of junior mining, the partnership with Ganfeng is the best possible scenario,” stated Klip, “we have gained a strong international strategic partner and an exploration budget with minimal dilution to the share structure.”

The recent acquisition of the Taca Taca copper deposit by First Quantum Minerals has confirmed Klip’s view that mining investment in Argentina will increase. Both Taca Taca and Mariana are located in Salta, Argentina, a mining friendly province and heart of the South American Lithium Triangle. Infrastructure development work at nearby Taca Taca is expected to benefit the Mariana project.

“I spent many years developing an integrated Lithium strategy with Ganfeng’s chairman, Liangbin Li, and vice-chairman, Wang Xiaoshen,” stated Klip, “I think it is fair to say that we understand one another, and that Li is receptive to our geological expertise.”

HandoutKirill Klip, president of International Lithium, right, and Li Liangbin, president with Ganfeng Lithium

China is competing with other countries for lithium supply. Tesla Motors (TSLA-NASDAQ) planned “gigafactory” will more than double the current global lithium ion battery production.

“Ganfeng inspected projects in Australia, North America, Europe and other projects in Argentina,” confirms Klip, “But the Ganfeng team circled back to us and chose to make a sizeable financial investment in two of our projects, in Argentina and Ireland.”

Ganfeng have also finalized a joint venture agreement with ILC on the Blackstairs Lithium project in Ireland, exercising an option to acquire 51% of the Blackstairs project with the possibility to acquire an additional 24% in the project by spending $10-million within 10 years or producing a positive feasibility study. A budget for the first phase of 1.6-million euro has just been announced on Blackstairs.

Ganfeng Lithium is a vertically integrated lithium business. As well as mineral development, they produce lithium batteries so they are looking to ILC as a future source of raw materials for their production chain in China.

ILC and Ganfeng will now begin an accelerated program to develop a pilot plant in Argentina. This project is currently being budgeted. Ganfeng’s technological expertise and research facilities are expected to reduce costs and improve efficiencies in on-going development and feasibility studies. A recently signed trade agreement between China and Argentina provides state-level support for the joint venture.

“The Mariana project has a high potassium-lithium ratio” stated Xiaoshen. “This will make the cost of the lithium resource very competitive. We believe this project will have a bright future considering the fast growing lithium demand for electric vehicles and plug-in hybrid electric vehicles.”

ILC’s agenda is to become a primary source of lithium to meet the increasing demand of its strategic partner Ganfeng Lithium.

“For people who have been to China, and understand the way they do business, this partnership is a very significant milestone,” stated Kirill. “Our projects have passed through a rigorous testing procedure by a sophisticated team of international lithium geologists. This is the financial and strategic catalyst for our next phase of growth.”

Last month, the Chinese government announced a new mandate that by 2016 at least 30% of all automobiles purchased by the government must be electric.

ILC is currently trading at .03 with a market cap of $2.7-million.

This story was provided by Market One Media for commercial purposes. Postmedia had no involvement in the creation of this content."

International Lithium Presentation May 2014 from Kirill Klip

Please Note our Legal Disclaimer on the Blog, including, but Not limited to:

There are NO Qualified Persons among the authors of this blog as it is defined by NI 43-101, we were NOT able to verify and check any provided information in the articles, news releases or on the links embedded on this blog; you must NOT rely in any sense on any of this information in order to make any resource or value calculation, or attribute any particular value or Price Target to any discussed securities.

We Do Not own any content in the third parties' articles, news releases, videos or on the links embedded on this blog; any opinions - including, but not limited to the resource estimations, valuations, target prices and particular recommendations on any securities expressed there - are subject to the disclosure provided by those third parties and are NOT verified, approved or endorsed by the authors of this blog in any way.

Please, do not forget, that we own stocks we are writing about and have position in these companies. We are not providing any investment advice on this blog and there is no solicitation to buy or sell any particular company. 

Elon Musk With Tesla Gigafactory Starts The Race To Secure Supply Of Lithium Batteries And Lithium.

Kirill Klip.:

Elon Musk With Tesla Gigafactory Starts The Race To Secure Supply Of Lithium Batteries And Lithium.

  

  I would like to share with you the very interesting summary from  Seeking Apha on this subject. It confirms my personal observations of the investment and M&A trends in our Lithium industry today. I will share with you few quotes and links which will help you to understand International Lithium strategy and, what is very important, how our strategic partner Ganfeng Lithium sees this megatrends from the ground of the world's biggest auto market in the world in China.

International Lithium Corp. Completes Payments on Mariana Lithium Brine Project, Argentina.

"Mr. Kirill Klip, President, International Lithium Corp. comments, "The recent acquisition of the Taca Taca copper deposit by First Quantum Minerals confirms our strategic view that mining investment in Argentina will increase. Both Taca Taca and Mariana are located in Salta, Argentina, a mining friendly province and heart of the South American Lithium Triangle. Both Taca Taca and Mariana have rail and road access, in addition infrastructure development work at nearby Taca Taca will also benefit the Mariana project.

Now that we have secured 100% of the mineral rights to the project for our J/V with Ganfeng Lithium, an accelerated program to develop a pilot plant can commence. Subsequent feasibility studies will allow us to use Ganfeng Lithium's technological expertise and research facilities that we anticipate will reduce costs and improve efficiencies. The recently signed trade agreement between China and Argentina provides state-level support for our joint venture. Together we strive to become a primary source of lithium to meet the increasing demand of our strategic partner Ganfeng Lithium."

Mr. Wang Xiaoshen, Vice Chairman/VP, Ganfeng Lithium Corp. notes," The Mariana project has a high Potasium-Lithium ratio that gives the project a potentially high credit from the Potasium. This will make the cost of the Lithium resource very competitive. We believe this project will have a bright future considering the fast growing lithium demand for electric vehicles and plug-in hybrid electric vehicles ."

International Lithium and Ganfeng Lithium Move to Advance the Blackstairs Lithium Project, Ireland.

"Mr. Kirill Klip, President, International Lithium Corp. comments, "We are excited to spearhead this international collaboration and program that sets a precedent for sourcing metals that are imperative to the advancement of mobile devices, electric vehicles and alternative energy. The demand for Lithium is continually on the rise and there are shortage concerns which could impede on the growth of the green technology sector worldwide. The Irish government has taken this risk very seriously and pledged to facilitate the advancement of lithium production as part of an initiative to improve strategic metal supply chains. Together with Ganfeng Lithium, ILC has the opportunity to be part of this development and we are optimistic that we have a new potential source for the lithium battery supply chain".

Mr. Wang Xiaoshen, Vice Chairman/ VP, Ganfeng Lithium Corp. notes, "Recent news that corporations such as Tesla and Panasonic are making significant commitments to build gigafactory battery plants will significantly impact the demand for Lithium. Similarly the Chinese market will become increasingly more important to companies like Tesla in the near future. These two reasons make BLL an ideal prospect for the lithium industry."

International Lithium Corp. A Potential Source For Green Technology Minerals.

International Lithium Presentation May 2014 from Kirill Klip

Elon Musk To Occupy Mars, But First He Opens The Doors For Tesla To The World's Biggest Auto market.

  

  Elon Musk moves very fast and now the doors to the world's biggest auto market are wild open. Superchargers will make Tesla Model S capable to compete with ICE cars and Chinese government will do the rest. Air pollution is the nation wide issue and now government in China has announced the war on pollution. Electric cars are the very big part of this battle plan. Now one thousand fast chargers are being built in Beijing along and all new residential development must be wired for the electric cars. The new mandate is in place calling for 30% of all state owned cars to be electric. 

  China has escalated electric cars to the status of strategic industry and is building the supply chain of Strategic Commodities for the electric cars, mobile devices and alternative energy. LG Chem has announced its own Megafactory in China to produce 100,000 lithium batteries for electric cars per year. 

  International Lithium becomes the part of the vertically integrated lithium business in the huge market in China with its strategic partner Ganfeng Lithium.

   

International Lithium: Presentation Of Our Strategic Partner - Ganfeng Lithium May 2014 from Kirill Klip

Lithium Race: China Requires 30% of State Cars Use Alternative Energy.

 Beijing.

   As we have discussed here numerous times, China moves electric cars with its state-level plan into the strategic industry status. While West is still looking what is wrong with Tesla Motors and Tesla Model S Chinese companies are searching the globe and buying the best deposits of Lithium, Copper and REE. These will be the materials driving the next industrial rEvolution - electrification of our transportation systems.  High-speed railway network will solve the problem of mass transit in the future when Oil will be gone. China is building this network by thousands of miles per year and it is going to reach .... Singapore. Electric cars will solve the problem of mobility in the highly populated megalopolises.
  Elon Musk goes Open Source with electric cars now and Tesla Motors patents are available for all. It is not just charity, but rather carefully calculated move. And it is not the attempt to diminish our leader-in-chief altruistic incentives behind this move. Reality is that Elon Musk targets the Chinese market now with Tesla Model S and what is more important - with the new mass market model of electric car from Tesla Motors. It would be re-engineered in any case in China, but now if you can make that car cheap and in mass numbers, your strong partners in Asia will help Tesla Motors to fight counterfeit and people will not by the sub par quality.
  Can I put the name Foxconn again here?

Seeking Alpha:

As Tesla Races Ahead, Big Auto Is Running Out Of Time To Secure Its Own Battery Supplies

Summary

• The Tesla gigafactory is underway and will be ready by 2017.

• With the gigafactory, Tesla will have access to batteries at a cost close to $100 per kWh (at least three times cheaper than anyone else).

• If big auto does not start work on its own gigafactories, they will have gifted the EV market to Tesla.

Tesla (NASDAQ:TSLA) has broken ground on its gigafactory site in Nevada and a deal with Panasonic has been reached.

Thanks to Tesla's previous capital raising efforts and an immediate commitment of roughly $300-500 million from Panasonic, it is clear that close to $2 billion is available for the gigafactory construction over the next year.

By this time next year, Tesla will be producing close to 100,000 vehicles per year (Model S+X) and obtaining further financing to finish the gigafactory will not be difficult (if required at all).

In the most recent Tesla conference call, Elon Musk suggested that "in light of the technical and logistical advances the factory would bring, he would be 'disappointed' if it took Tesla 10 years to make a $100-per-kWh pack, suggesting it could happen before the end of the decade."

"It's heading to a place of no contest with gasoline," Musk said. "In the absence of the Gigafactory, this progress would be much slower."

Since the gigafactory is not expected to reach full production before 2020, one can only conclude from Mr.Musk's words that he expects the gigafactory to be able to get battery costs down to $100 per kWh or below.

The best estimates place Tesla's current per kWh battery cost somewhere between $250-$300, while the rest of the auto industry is believed to be paying well over $400 per kWh for their EV batteries.

If the gigafactory is capable of reducing battery costs to $100 per kWh or below, Tesla will hold all the cards when it comes to the Electric Vehicle market.

One must remember that the gigafactory will only produce enough batteries for 500,000 vehicles and that to do this it must produce more lithium ion batteries under one roof than the entire world produced in 2013.

As I have written in my previous articles, nobody in the auto industry will be close to being able to produce as many Electric Vehicles as Tesla unless they embark on building their own battery gigafactories in the very near future.

For example, Nissan (by far the leader in terms of pure EV production within the mainstream auto business) has only enough battery capacity to produce 200,000 Leaf's per year -- and that's when its battery plant is eventually running at full production.

Of course we must remember that a Leaf has less than half the range of the base 60 kWh Tesla Model S, which means that currently, Nissan only really has the ability to produce less than 100,000 long range EV's per year. That's assuming they plan on challenging Tesla's 200+ mile range, $35k Model III (expected in 2017) and halting production of the current Leaf.

The rest of big auto has virtually no battery supply on which to draw. GM, with the Chevy Volt, is in a distant second place behind Nissan with its battery plant able to produce enough for just 60,000 Volt's per year at max capacity (or maybe less than 15,000 long range EV's).

These battery capacity figures are taken from my own research which can be found here (with original sources). Seeking Alpha."

 Please Note our Legal Disclaimer on the Blog, including, but Not limited to:

There are NO Qualified Persons among the authors of this blog as it is defined by NI 43-101, we were NOT able to verify and check any provided information in the articles, news releases or on the links embedded on this blog; you must NOT rely in any sense on any of this information in order to make any resource or value calculation, or attribute any particular value or Price Target to any discussed securities.

We Do Not own any content in the third parties' articles, news releases, videos or on the links embedded on this blog; any opinions - including, but not limited to the resource estimations, valuations, target prices and particular recommendations on any securities expressed there - are subject to the disclosure provided by those third parties and are NOT verified, approved or endorsed by the authors of this blog in any way.

Please, do not forget, that we own stocks we are writing about and have position in these companies. We are not providing any investment advice on this blog and there is no solicitation to buy or sell any particular company.