Buy, Sell, Or Hold? American Battery Metals Corp (OTCMKTS:ABML)

American Battery Metals Corp (OTCMKTS:ABML) stock is moving up in the opening session on Thursday, extending its monthly gain to 63%.

Major Trigger:

Fernley City Council Unanimously Approves American Battery Metals Corporation’s Conditional Use Permit for Lithium-Ion Battery Recycling Pilot Plant

Key Highlights:

  • ABML received unanimous approval from the Fernley City Council for a Conditional Use Permit (CUP) regarding a forthcoming lithium-ion battery recycling plant. This latest endorsement takes the Company one step closer toward permitting and constructing its first-of-its-kind lithium-ion battery recycling pilot plant in Fernley, Nevada. Earlier this month, the CUP was unanimously approved by the City of Fernley Planning Commission.
  • The City of Fernley’s CUP process confirms that ABTC’s pilot plant will meet all obligations set by the City’s Comprehensive Master Plan – which safeguards “the public health, safety and general welfare by providing for special safeguards in the location and design of certain uses in certain zoning districts.”
  • The battery recycling pilot plant will directly support a domestic supply of high-demand battery metals, and will do so through the utilization of innovative extraction technologies. Setting itself apart, the organization’s technology platform does not emit air toxins and eliminates water pollution.Once constructed, the entire recycling plant will consist of three (3) functional building areas totaling 98,789.4 square feet of floor space. The three (3) functional building spaces include a production building, an office building with laboratories, and a warehouse.

Market Reactions  

As of 9:40, ABML stock jumped by 6% at $2.44. Total volume so far stood at 613K shares, compared to its average volume of 4.21 million shares.  The stock moved within a range of $2.3300 – 2.4700 after opening at $2.38.

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