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Friday, January 27, 2023

A Closer Looks at American Battery Metals Corp (OTCMKTS:ABML) Developments

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American Battery Metals Corp (OTCMKTS:ABML) is one of the stocks to have been in focus among investors over the course of the past three weeks or so.

In the past three weeks, the stock has rallied by as much as 450% and much of that is due to the fact that ABMC managed to hit some of the key milestones with regards to a project.

Major Triggers

Last Thursday the rally continued and American Battery Metals Corp (OTCMKTS:ABML) gained another 16%. In such a situation, it’s wise for investors to take a closer look at the lithium-ion battery recycling technology company.

The company completed three key milestones regarding its pilot recycling plant located in Fernley, Nevada. The company announced that it purchased the land at 345, Winston Lane in Fernley where ABMC will build five buildings as part of the campus.

Additionally, the company also managed to clinch the crucial water rights for the plant.

It is a major development for ABMC since the company will be able to operate its pilot plant at full tilt for many years without any scarcity of water.

Last but not the least; the company also revealed that it appointed the services Miles Construction to be the designer and contractor for the pilot plant.

The company is also working on getting permission from the City and from the NDEP (Nevada Department of Environmental Protection) with regards to the construction. ABMC expects to provide updates with regards to the permission soon.

The Chief Executive Officer of the company Doug Cole stated that once it is operational, the plant in question will be able to produce as many as 20,000 tons of recycled batter metals. More importantly, Cole projected that such production levels will also bring in as much as $200 million in revenues. The company has a target of producing 200,000 tons of recycled metals.

Disclaimer: We hold no shares in ABML stock.

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