American Battery Metals Corp (OTCMKTS:ABML) Stock Continues to Move Higher From Lower Level
American Battery Metals Corp (OTCMKTS:ABML) stock was one of the biggest gainers last week with a jump of over 21%. Will the stock continue to move up?
Market Action
In the previous trading session, ABML stock went up 5.20% to $1.62. A total of 2.67 million shares traded for the session hands, above its average volume of 2.42 million shares. The stock opened at $1.60 and moved in a range of $1.5500 – 1.6200.
Key Trigger
American Battery Metals Corporation Executes Agreement to Secure Over 6,000 Acres of Nevada-Based Lithium Resource Claims
American Battery Metals announced that it has entered into an agreement to secure 305 unpatented lode mining claims covering approximately 6,100 acres of land that is administered by the Bureau of Land Management (BLM) near Tonopah, Nev.
This agreement is in the form of an exclusive exploration license through which ABTC has the sole authority to conduct its surveying, sampling, and proprietary extraction trials to characterize these resources and to quantify the performance of the lithium extraction and manufacturing operations. Through this agreement, after concluding its trials and internal assessment of these resources, ABTC then has the exclusive option to purchase these lithium-bearing claims.
Over the past two years, ABTC has been designing and optimizing its internally-developed processing train for the manufacturing of battery cathode grade lithium hydroxide from Nevada-based sedimentary claystone resources.
The majority of these development efforts to date have been performed with sedimentary claystone resource samples provided by partner companies in the Tonopah, Nev. region. While ABTC will continue to work with these partners to refine, test, and validate its internally developed technologies for potential commercialization at these resource sites, ABTC will now also be evaluating the performance of its lithium extraction and manufacturing technologies directly on its own lithium-bearing resource.
Key Quote:
“Our in-house technology development and commercialization efforts for the domestic manufacturing of battery cathode grade lithium hydroxide directly support US federal efforts to reduce dependence on foreign sources of these critical materials that may not adhere to sufficient ethical and environmental standards for battery metals sourcing and manufacturing,” stated ABTC CEO and CTO Ryan Melsert.
