Connect with us

Energy & Critical Metals

American Battery Technology Co. (OTCMKTS: ABML) Sees Its Second Price Increase in March in Expectation Of A Rising Demand

American Battery Technology Co. (OTCMKTS: ABML) had a rough last year as far as its stock price is concerned. After seeing a stock surge in late March…

Share this article:

Published

on

This article was originally published by Microcap Daily

American Battery Technology Co. (OTCMKTS: ABML) had a rough last year as far as its stock price is concerned. After seeing a stock surge in late March 2022 and early April of the same year, the ABML value started spiraling down. On March 17th, 2022, ABML’s price saw at $0.929, which quickly started to change after this day. By April 4th, the shares have skyrocketed to $1.69, only to start a downward spiral then.

The price kept going down throughout the year, although a few support levels have slowed down its fall. One example was the support level at $1.15, reached by April 12th. However, while it did slow down the crash, it did not contain it, so ABML also reached other supports, including $0.90, $0.65, $0.50, and eventually, in the final days of 2022, $0.40.

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

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


However, with the start of 2023, the situation took a positive turn for the company, and the price started to recover. By January 20th, it was once again approaching the resistance level at $0.6, and by February 7th, it hit $0.76. It saw a brief correction to $0.6 after that, but it then skyrocketed in late February/early March to $1.28. The sharp rise resulted in a small correction that brought it back to $0.9, but at the time of writing, the price is once again growing, currently sitting at $1.

screenshot-www.tradingview.com-2023.03.28-13_48_30

American Battery Technology Co. (OTCMKTS: ABML) has seen a number of events lately, which resulted in it making headlines multiple times, especially in early March. For example, reports said that the company purchased a battery recycling facility in Nevada. The facility was purchased move-in-ready, equipped for commercial-scale battery recycling. The idea was to buy the facility and expand the operations of its LIB recycling technologies.

ABML also noticed a surge in demand for domestically produced and sustainably sourced battery metals on the last several years. Especially as the domestic manufacturing capacity of LIBs went up from under 50 gigawatt hours per year to more than 700 gigawatt hours per year. The company intended to ramp up the recycling of lithium-ion batteries into battery-grade materials for sale to the domestic market.

For more on ABML Subscribe Right Now!

Another big development for the company was the discovery of the largest known lithium deposit in the US, which was found at the American Battery Technology Company’s Tonopah Flats property. ABML exploded following the discovery, leading to the price surge in early March.

The company published a technical report addressing the discovery where it concluded the following:

RESPEC concludes that the ABTC Tonopah Flats lithium project is the largest known lithium project in the US (in terms of publicly reported total tons of resources, discussed in Section 22.1) and is a project of merit that warrants additional work. The project has a large-tonnage, low-grade lithium resource worthy of further exploration and technical investigation.

The report also suggested that the next testing stage will cost approximately $4.8 million, but it also noted that $115 million of grants are already in pace.

As mentioned, the price did see a correction after this increase, but over the last several days, ABML started to recover again as the company announced that it is preparing for “a tsunami of demand” which is expected in 2023 and beyond.

American Battery Technology Co. (OTCMKTS: ABML) is a US-based firm that provides technical development and commercialization of domestic, sustainable sourcing of critical battery materials through lithium-ion battery recycling and battery metal extraction technologies. It does this for batteries that power grid storage applications, electric cars, consumer electronics and tools, and more. Formerly known as American Battery Metals Corporation, the firm received a grant of $2 million from the US Advanced Battery Consortium in 2021 in collaboration with the US Department of Energy. The funds came as part of the contract tasking the firm with the commercialization of its lithium-ion battery recycling system, which was originally introduced in 2019.

Only a year later, in October 2022, the company was selected for a $57 million grant offered by the US Department of Energy. The funds came with a task to design, construct, commission, and operate a state-of-the-art commercial-scale facility, which would be the first of its kind and which would demonstrate the process of making battery cathode-grade lithium hydroxide using unconventional lithium-bearing sedimentary resources.

American Battery Technology Co. (OTCMKTS: ABML) has started off 2023 with a bang, drawing attention to itself and its business. It is on its way to becoming one of the leading firms in the US energy sector and potentially one of the biggest gainers. It has already made multiple headlines this year that have attracted investors and businesses alike and is currently in the process of preparing its newly-purchased facility to fulfill the demand for lithium-ion batteries which it expects to come in future months. We will be updating 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 have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

Image by Gerd Altmann from Pixabay

The post American Battery Technology Co. (OTCMKTS: ABML) Sees Its Second Price Increase in March in Expectation Of A Rising Demand first appeared on Micro Cap Daily.


batteries

Share this article:

Uranium Exploration Company Announces Additional Staking in the Athabasca Basin

Source: Streetwise Reports 12/22/2023

Skyharbour Resources Ltd. announced an update from its Canada-based Falcon Project along with additional…

Share this article:

Published

on

By

Continue Reading
Energy & Critical Metals

Tesla Launches New Mega Factory Project In Shanghai, Designed To Manufacture 10,000 Megapacks Per Year

Tesla Launches New Mega Factory Project In Shanghai, Designed To Manufacture 10,000 Megapacks Per Year

Tesla has launched a new mega factory…

Share this article:

Published

on

Continue Reading
Energy & Critical Metals

Giving thanks and taking stock after “a remarkable year”

An end-of-year thank you to our readers, industry colleagues and advertisers before Electric Autonomy breaks from publishing until Jan. 2
The post Giving…

Share this article:

Published

on

Continue Reading

Trending