Oroplata Resources (OTCQB:ORRP), the lithium resource exploration and development company, said Monday that it intends to change its name to American Battery Metals Corporation.
The company has completed the first step in the requirements necessary to change its name and expects to meet the remaining legal and regulatory hurdle to make the change official in the next 60 days.
LithiumOre is a wholly-owned subsidiary of Oroplata Resources, which will soon be called American Battery Metals.
LithiumOre is a resource exploration and development company whose top focus is the establishment of a low-cost, environmentally sound production base to supply the rapidly growing lithium-ion battery industry for both mobile devices and laptops, as well as the burgeoning electronic vehicle industry.
LithiumOre holds 1,300 lithium mineral claims, totaling 26,000 acres, located in Railroad Valley of Nye County, Nevada.
READ: LithiumOre says securing production-grade lithium brine deposits in Nevada sets it up for ‘exciting future’
Demand for lithium will continue to grow alongside electric cars and high-capacity electric storage.
The supply market for lithium is poised to become tight over the next decade, and that can be seen in its lofty spot price which is hovering at $18,000 per ton.
Oroplata shares closed up 5.94% to finish at $0.21 on Friday.
Contact Ellen Kelleher at [email protected]