The lithium-ion battery sector has been in focus in the markets for quite some time now, and the latest company to have come into focus among investors is American Battery Metals Corp (OTCMKTS:ABML).
Reaches Critical Milestones
The company made a major announcement last week and that has possibly been the trigger behind its 45% gain on Friday. It could be worthwhile for investors to perhaps take a closer look at the company.
American Battery Metals Corp (OTCMKTS:ABML) announced that it has hit a key milestone with regards to the opening of a pilot project related to the opening of a lithium-ion battery recycling factory. The factory in question is located in Fernley in Nevada.
American Battery Metals is involved in the lithium-ion battery recycling space and on top of that, American Battery Metals also has access to substantial mineral resources in the state of Nevada.
Investors need to note that at this point the company is working towards changing its name to American Battery Technology Company. There have been other major milestones that have been hit by the company that ought to be considered as well. The acquisition of the land for the pilot factor is certainly one of those.
However, that is not all. ABML also managed to get the water rights from multiple sources in the Fernley area. This is a significant milestone for ABMC since with the water rights in place; it can run its pilot factor at full capacity for a number of years. The water rights allocations were acquired from the Fernley Area Basic 76.
Last but not the least, ABMC also managed to hire the services of Miles Construction for the design of the above-mentioned pilot factory. These are all major developments and could go a long way in helping the company’s long term growth.
Considering the gains made by the ABML stock on Friday, it is likely that the stock is going to be in the radars of investors this week.
Disclaimer: We hold no shares in ABML stock.