American Manganese Inc (CVE:AMY) shares rose on Thursday morning after it reported that independent test results showed extraction levels from lithium ion battery cathode material of over 90%.
Shares of American Manganese were up nearly 4% by midday Thursday to sit at C$0.15 in Canada and sat at US$0.11 in the US.
The company worked with contract laboratory Kemetco Research to test several batches of commercially available scrap lithium ion battery cathode material containing NMC (lithium-nickel-manganese-cobalt) and NCA (lithium-nickel-cobalt-aluminum).
The cathode active material was separated from aluminum foil and then processed using American Manganese’s processing technology.
The extraction results achieved from Kemetco’s testing from NMC cathode material were around 94% lithium, 95% cobalt, 91% nickel and 96% manganese. The NCA cathode material results were nearly 94% lithium, 87% cobalt, 86% nickel and 100% aluminum.
Recovery results promising
According to the company, while the first two stages of the pilot plant achieved exceptional recovery results from the first pass of material, an additional wash and screen will increase recovery of additional active material to be processed, it said in a statement.
"From the pilot plant we have improved the handling of large quantities of commercially available material on a continuous basis, in terms of separation of active material from aluminum foils,” said Larry Reaugh, president and CEO at American Manganese. “The proven effectiveness of extraction is a great demonstration as we plan for commercial production."
The next stages will include purification and recovery of battery-grade-ready lithium carbonate and base metal oxides, as well as water and reagents recycling.
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