American Lithium Minerals (OTCMKTS:AMLM) Stock Gains 15% In a Week: Here is Why
Yesterday, American Lithium Minerals (OTCMKTS:AMLM) was in focus after it provided an update with regards to its Blue Bull Cobalt/Nickel/Manganese Project located in Lincoln County in Nevada.
Trading Data
On Wednesday, AMLM stock surged 7.87% to $0.0699 with more than 31.68K shares, compared to its average volume of 35.97K shares. The stock moved within a range of $0.0617 – 0.0795 after opening trade at $0.0700.
American Lithium Minerals (AMLM) Update – Cobalt, Nickel and Manganese Projects
Additionally, the company also announced that it had managed to acquire the drill data for the Bisbee Manganese property located in Southeast Arizona. In this context, it should be noted that nickel, manganese and cobalt are elements which are used in batteries that are vital to the ‘green revolution’. These elements are also used for manufacturing electric vehicles, electric energy storage systems, cell phone and regular household electronic products.
The company’s Lithium, Graphite and Rare Earth Element foot print got considerably expanded through the addition of the Bisbee and Blue Bull projects. The Blue Bull site’s mining origins go back to as far long back as the 1920s.
At this point in time, the project consists of mining claims stretching across an area of 560 acres on land that is administered by the United States Bureau of Land Management. In November last year American Lithium collected a total of 9 rock chip samples from the site. Out of those samples, the company produced promising Cobalt content results from five samples.
