Simbol has also gone through a leadership shakeup, with CEO John Burba departing last week as well. Sunada declined to explain Burba's ouster, and Burba didn't respond to a phone call seeking comment.

Earlier this year, Simbol officials said the company was preparing to build a full-scale lithium-extraction plant, with plans to hire 400 workers during construction.

According to that source, Musk abruptly ended all negotiations after reviewing the valuation, never giving Simbol the chance to present a counteroffer to his proposed $325 million purchase price.” ...