My attempt at DD I've held this stock for literally years, because the management team is a good one, but I have no idea what's going on right now. How high can it go? Who knows. How quickly can it go back to $.05? Who knows? Everything posted on here appears to be cheerleading. So I tried to find some facts. You know, the kind of reliable information that we can put some weight on to make decisions. Or is anyone here interested in that sort of information?
A couple of grab samples (not the most reliable type of sample) confirm the historical grades at the hard rock Lithium deposit in Ontario, but the size of that deposit will have to grow substantially to be anything economic. Like 100 times bigger than the historical estimate (which is itself unreliable). Maybe something there, but they have a lot of work ahead to prove anything worthwhile, and that can't really account for this spike.
It's hard to figure out what to make of the Mexican concessions. There was a lot of press about them in 2009 (here's a google search full of links to those stories - https://www.google.com/?ion=1&espv=2#q=piero%20sutti%20zacatecas%20lithium ) but they contained nothing but quotes from the promoter making big claims, with nothing I can see to back it up other than his word. He was going to have a huge plant up and running by 2011. And ION bought those concessions in 2016 for a song? Something not right there. Then I ran across this lengthy article on Lithium. I refer you to pages 55 - 58 that talk specifically about the Mexican Concessions that ION has optioned. https://www.depfe.unam.mx/p-cientifica/wallace-bruce_2012.pdf
There's evidence that the Mexican Concessions contain lithium (hence the adjective "known") but that's about it. The grades and quantities mentioned in all those 2009 press stories appear to be just made up wholesale.
How far can excitement take a stock in the absence of any real evidence that they have the goods? We're finding out here. As a shareholder I hope it's a long long way. As an investor, I feel a lot more comfortable now that I've sold enough shares to recover my initial investment, though.