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E3 Lithium Ltd is a resource company with mineral properties in Alberta that is currently focused on technology development for lithium extraction from Alberta brines. It is engaged in the exploration of Clearwater and covering the Leduc Reservoir in south-central Alberta. The company's properties can be further sub-divided into five separate sub-properties namely Clearwater Sub-Property, Exshaw Sub-Property, Rocky Sub-Property, Sunbreaker Sub-Property and Drumheller Sub-Property.

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Grizzly Research LLC has issued a short report on Sigma Lithium Corp (NASDAQ: SGML), estimating a 50%-75% drop in the share price and

Sigma Lithium Short Seller Says Forget About Tesla Buyout, Projects 50%-75% Downside

E3 Lithium Ltd

Press Releases

E3 Lithium Welcomes Former Alberta Energy Minister, Hon. Sonya Savage, to its Board of Directors

Fast-Charging Lithium Batteries Could Send EV Adoption into High Gear

E3 Lithium to Host Quarterly Webinar on November 13

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E3 Lithium

Grizzly Research LLC has issued a <a href="https://grizzlyreports.com/sigma-lithium-corp-nasdaq-sgml-bogus-feasibility-studies-production-delays-will-leave-investors-praying-for-a-buyout/" target="_blank">short report</a> on Sigma Lithium Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGML#NASDAQ">SGML</a>), estimating a 50%-75% drop in the share price and shooting down&nbsp;acquisition rumors.

The Short Report:&nbsp;The company&#39;s share price rose by more than 180% in the last year, driven by rumors of acquisition offers made before production started.

Among these, Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&#39;s&nbsp;interest in acquiring SGML, as reported by Bloomberg in February, has lately sparked the <a href="https://www.benzinga.com/m-a/23/02/30984852/tesla-is-driving-sigma-lithium-stock-higher-today-whats-going-on">greatest excitement among investors</a>.

Grizzly Research said&nbsp;Elon Musk&#39;s possible interest in SGML is unlikely on the grounds of inadequate technical innovation, alleging that SGML has nothing to do with &quot;greentech&quot; and &quot;green mining.&quot;&nbsp;

&quot;The company has spent essentially nothing on R&amp;D in its entire existence&quot; and &quot;lacks the leadership and technical expertise necessary to effectively run the mine,&quot; according to the short report.&nbsp;

Benzinga has contacted Sigma Lithium for comment on the short report.&nbsp;

Sigma&#39;s Brazil Operations:&nbsp;Sigma Lithium is involved in the exploration and development of lithium resources in Brazil. It owns 100% of the Grota do Cirilo, Genipapo, Santa Clara&nbsp;and So Jos&eacute; properties, which consist of 27 mineral rights spanning an area of roughly 191 square kilometers in the Ara&ccedil;ua and Itinga areas of the Brazilian state of Minas Gerais.

In addition, local mining specialists in Brazil who were consulted by Grizzly Research said SGML is still in need of important environmental permissions in order to reach its April 2023 production deadline, the report said.&nbsp;

Related Link:&nbsp;<a href="https://www.benzinga.com/news/23/03/31422115/human-rights-issues-in-battery-mineral-mining-challenge-truly-green-electric-car-industry">Human Rights Issues In Battery Mineral Mining Challenge Truly Green Electric Car Industry</a><img alt="" src="https://www.benzinga.com/files/u1363475/sgml_2023-03-21_15-23-42_1ee3f.png" style="height:476px; width:760px" />SGML price chart and one-year performance. Chart: TradingView

Sigma Lithium Overvalued For Takeover?&nbsp;SGML&#39;s market price is too expensive&nbsp;to pique the interest of potential buyers, the short seller said.&nbsp;Rio Tinto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) is said to have rejected SGML because of the firm&#39;s exorbitant pricing.

Grizzly Research said it aggred with the&nbsp;actions of insiders who sold 924,100 shares in the second half of last year and so far this year, generating profits of CAD29.3 million ($21.34 million).&nbsp;Lastly, the short seller said that SGML shares might decline by 50%-75%.

SGML Price Action: Sigma Lithium shares were trading down 2.44% at $35.61 midday Tuesday.&nbsp;

Photo via Shutterstock.

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Latest E3 Lithium Stock News | OTC:EEMMF | Benzinga

Tuesday, March 21, 2023

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