web analytics
0.4 C
Munich
Saturday, December 3, 2022

American Battery Technology Co (OTCMKTS: ABML) Major Reversal Brewing as Co Makes Steady Progress at its Lithium-Ion Battery Recycling Facility in Fernley

American Battery Technology Co (OTCMKTS: ABML) has been moving steadily northbound since a brief dip below $0.50 and a reversal off $0.48 lows. The stock was one of the biggest runners of 2020 and early 2021 skyrocketing from $0.03 where we first reported on it to highs near $5 per share in January 2021. Since than the stock has seen steady declines until recently when selling dried up and the Company reported significant advancements at its plant in Fernley, Nevada strategically located 20 miles from Tesla’s Gigafactory project. 

ABT recycling facility on 12.44 acres in Fernley, Nevada designed to manage 20,000 metric tons of scrap materials and end-of-life batteries per year is moving ahead swiftly with $10.8 million invested in construction just over the past year. to date, construction of the Phase 1 building is largely complete, with additional equipment procurement, component and utility installations, and offsite improvements in process.  ABTC anticipates beginning commissioning of Phase 1 of the plant by year-end 2022, and ramping throughput throughout calendar 2023.  


Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!

American Battery Technology Co (OTCMKTS: ABML) is an industry leading clean technology innovator that has been created to increase the production of primary metals used in batteries that power electric cars, grid storage applications, and consumer electronics.  ABTC has built its capabilities to produce these battery metals through three business divisions: 1) recycling of lithium-ion batteries to recover battery metals, 2) extraction from primary resources, and 3) exploration of new primary resources. Together, the three approaches comprise a unique technologies platform that ensures battery metals are domestically sourced and re-used in an environmentally friendly, closed-loop fashion. ABTC’s multi-pronged approach builds the foundation for a circular economy of battery metals that supports a global shift away from fossil fuel energy sources.

The Company is building out its lithium-ion battery recycling facility in Fernley, NV, and issued a public statement outlining its principled approach to executing its ambitious business plan. ABT has built a clean technology platform that increases production of primary metals used in the batteries that power electric cars, grid storage applications, consumer electronics and tools. The green platform creates a circular economy for battery metals that champions ethical and environmentally sustainable sourcing of critical materials.

ABT subsidiary Lithium Ore has 1,040 placer mining claims on over 20,000 acres in the area known as the Western Nevada Basin, situated in Railroad Valley in Nye County, Nevada. ABT also owns a 120-acre property with water rights, in the town of Duckwater, NV near Railroad Valley, which it acquired for exploratory purposes and was fully impaired in prior years. ABT leases from the Bureau of Land Management its Western Nevada Basin Claim where it is exploring and drilling for possible lithium-rich brine. The Western Nevada Basin (WNB) Claim is located in east central Nye County, Nevada approximately 93 miles northeast of the county seat of Tonopah, Nevada. The Western Nevada Basin Claim covers 30,000 acres and consists of a total of 1,300 placer claims.

The past 12 months have been a transformational year for the company as it has continued on an accelerated path to commercialize and evolve its first-of-kind, low-cost, and low-environmental-impact technologies within the lithium-ion battery recycling and primary battery metals manufacturing sectors.  The commercialization and scale-up of these technologies in collaboration with the company’s strategic corporate partners are supporting the establishment of the crucial closed-loop domestic manufacturing supply chain for critical battery materials. 

The company began construction on the ABTC Pilot Plant for lithium-ion battery recycling in the first fiscal quarter of 2022, and to date, construction of the Phase 1 building is largely complete, with additional equipment procurement, component and utility installations, and offsite improvements in process.  ABTC anticipates beginning commissioning of Phase 1 of the plant by year-end 2022, and ramping throughput throughout calendar 2023. 

During the past year, ABTC also performed several rounds of sampling and evaluation of its lithium-bearing sedimentary material unpatented lode claims in Tonopah, Nev.  These analyses began with surface sampling in Fall 2021, and the promising results from these samples and analyses led the company to conduct an exploratory drill program, with results announced in June 2022, demonstrating the deposit has minimal overburden and that the deposit is open below the sampled depth of approximately 500 feet.  These results have now led ABTC to develop a Phase 2 step-out drill program to further characterize the deposit.  The company has initiated this Phase 2 exploratory drill program and intends to advance the project towards a mineralized resource in the fall of 2022.  

To Find out the inside Scoop on ABML Subscribe to Microcapdaily.com Right Now by entering your Email in the box below

ABML

In October of 2021, ABTC received two government awards: a $4.5 million grant from the US Department of Energy’s Advanced Manufacturing Office Critical Materials Innovation program to advance the company’s first-of-kind processes to extract and manufacture lithium hydroxide from its lithium-bearing sedimentary resources in Tonopah, and a $2 million grant from the US Advanced Battery Consortium to demonstrate the recovery of battery materials from end-of-life lithium-ion batteries, the subsequent refinement of those materials into high energy density active cathode material, and for the fabrication and testing of full size automotive lithium-ion batteries from these recycled-content materials.   

Additionally, ABTC has enhanced its leadership and governance with the appointment of a new CEO in August of 2021, the appointment of four new independent directors on March 1, 2022, the hiring of a new Chief Operating Officer in July 2021, the hiring of a new Chief Financial Officer in April of 2022, the hiring of an internal General Counsel in August 2022, and the addition of key engineering and research personnel throughout the year to accelerate the development of the ABTCs research, construction, and operations efforts. 

Key highlights from the fiscal 2022 year-end report include: 

  • The company ended the year with a cash balance of $29.0 million, compared to $16.1 million in the year prior 
  • Major construction progress on the ABTC Pilot Plant for the recycling of lithium-ion batteries in Fernley, Nev, with $10.8M invested in construction-in-progress during the fiscal year 
  • Completion of Phase 1 exploratory drilling program at ABTC’s Tonopah Flats Lithium Project, with initial published results demonstrating minimal overburden and that the deposit remains open at depths below the sampled approximately 500 feet 
  • Addition of key engineering and research personnel to facilitate the accelerated advancement of the company’s transition to commercialization 
  • Investment of $1.1 million in research and development to advance development of the company’s proprietary primary and secondary battery mineral extraction technologies 
  • Project initiation of two government and corporate awards, from the US Department of Energy Advanced Manufacturing Office and from the US Advanced Battery Consortium, that support the company’s research and development and commercialization initiatives and solidify industry collaborations 
  • Near fivefold expansion of ABTC laboratory facilities encompassing approximately 3,000 square-feet at the Nevada Center for Applied Research at the University of Nevada, Reno 
  • Enhancement of corporate governance with the appointment of a new CEO, a fully reconstituted independent Board of Directors, and the hiring of a new Chief Operating Officer, Chief Financial Officer, and a General Counsel. 
Ryan Melsert, CEO of the American Battery Technology Company stated: “Over the past year, with our new leadership in place, we have prioritized company resources towards the technical demonstration of our core technologies, the formation of collaborations and partnerships with our key corporate strategics, and the construction and commissioning of our initial revenue-generating facilities. We are experiencing unprecedented tailwinds in this domestic battery metals industry, where corporate OEMs, institutional investors, the federal government, and state governments are all aligned in demanding the rapid scale-up and commercialization of domestic battery mineral technologies and facilities.  We are working with each of our stakeholders on a daily basis to ensure that we are addressing these needs as rapidly as possible. The past fiscal year, and its associated leadership and governance changes, has set the foundation for the company to continue to accelerate the demonstration and commercialization of its core technologies, to build upon its relationships with its corporate strategics, and to prioritize the execution of its key construction, commissioning, and operations milestones. We are excited about the continued progress towards these goals, and of our unique position in this critical industry to work to solve these domestic and global challenges.”

 For more on American Battery Subscribe Right Now!

Currently trading at a $350 million market valuation ABML OS is 644,138,631 shares. The Company has an excellent financial position with $56 million in assets $36 million in cash and about $3.5 million in liabilities. Microcapdaily firest reported on ABML when the stock was $0.03. AMBL is an exciting story developing in small caps that is looking to uplist to a national exchange. The Company has a unique comprehensive, integrated business model that includes three diversified business units under one roof: Lithium-Ion Battery Recycling, Primary Metals Manufacturing, and Primary Resource Development. Currently the stock is moving northbound since reversing off $0.48 lows on accelerating volume as the Company makes steady progress at its plant in Fernley, Nevada strategically located 20 miles from Tesla’s Gigafactory project investing $10.8 million in construction just over the past year. To date, construction of the Phase 1 building is largely complete, with additional equipment procurement, component and utility installations, and offsite improvements in process.  ABTC anticipates beginning commissioning of Phase 1 of the plant by year-end 2022, and ramping throughput throughout calendar 2023. During the past year, ABTC also performed several rounds of sampling and evaluation of its lithium-bearing sedimentary material unpatented lode claims in Tonopah, Nev.  These analyses began with surface sampling in Fall 2021, and the promising results from these samples and analyses led the company to conduct an exploratory drill program, with results announced in June 2022, demonstrating the deposit has minimal overburden and that the deposit is open below the sampled depth of approximately 500 feet.  These results have now led ABTC to develop a Phase 2 step-out drill program to further characterize the deposit.  The company has initiated this Phase 2 exploratory drill program and intends to advance the project towards a mineralized resource in the fall of 2022. We will be updating on ABML when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with ABML.

Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!

Disclosure: we hold no position in ABML either long or short and we have not been compensated for this article.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Sign up now for our 100% FREE Penny Stock Newsletter

Privacy Policy. we will never share your email with anyone.