Ann: Company Update, page-5

International Battery Metals CSE:IBAT have become increasingly focused on Lithium brine extraction over the last 12 months. They have either been unable to raise the funds for the Bygoo project, or perhaps they are just no longer interested in tin. Despite quite a few amendments to the JV payment schedule, IBAT have just not been coming up with the funds on time.

The Farm-in and Joint Venture agreement was originally with BeiSur OstBarat Agency Ltd (BeiSur). See the TMZ announcement on 17 March 2017:

"As announced to the ASX on 21 November 2016, Riverston Tin PL (a wholly owned subsidiary of Thomson) signed a Farm-in and Joint Venture Agreement for its Bygoo Tin Project in central New South Wales with a North American investor (BeiSur OstBarat Agency Ltd – “BeiSur”). BeiSur has granted an option to Rheingold Exploration Corp., a public company listed on the Canadian Securities Exchange (CSE:RGE), to acquire the rights to the agreement."


Rheingold changed its name to International Battery Metals in August 2017.

So now it looks like the agreement with BeiSur is still in place, but Rheingold/IBAT is out of the picture. What that means for the future funding of the Bygoo project is not clear.