American Battery Metals Corporation (OTCQB:ABML) CEO Doug Cole told investors Monday that the company will finish 2019 in a “remarkably strong position,” while laying the groundwork for the next year.
In a statement, the company said the initial results and comprehensive analysis at depths down to 3,000 feet was “positive,” inspiring an ambitious drill program to include up to 20 holes over the next 12 months, with three more holes planned for the fourth quarter.
"We'll finish 2019 in a remarkably strong position, while laying the groundwork for an even more successful 2020," said CEO Doug Cole in a statement.
The resource exploration and development company’s 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.
The group plans on hitting that target through the timely development of production-grade lithium brine deposits at its Railroad Valley battery metal project in Nevada.
The company is also looking at a couple of vertical integration strategies that it intends to deploy. One of which would be in the emerging field of battery recycling, based not on the current linear value chain but on a new circular economy model of "reuse and recycle."
“Over the past few months we have articulated our vertical integration strategy: exploration and mining, extraction from brine technology, and a bold battery recycling plan,” said the company.
A new approach
Just as the apparently "dead" batteries from a flashlight can still power a TV remote, expired electric vehicle batteries retain 50% to 70% of their performance. According to experts, they can go on to live useful second, third and even fourth lives in less demanding applications, such as e-bus power packs, backups for large buildings and supply stabilization for solar and wind power generators.
Doug Nickle, head of business development, at American Battery Metals had earlier told Proactive in a recent interview that the company was in discussions with the Department of Energy to provide these solutions, as well as other market battery recyclers.
American Battery Metals has been invited to participate in the US Department of Energy's office roundtable discussion on ensuring US domestic battery manufacturing competitiveness in Golden, Colorado on September 25.
Extraction method a major edge
American Battery Metals told investors it plans to capitalize not only on the battery metals within its land holdings, but also through marketing the proprietary extraction technology itself.
The company will not only extract battery metals from its 26,000-acre land holdings in Nevada but will provide the technology as a service to other neighboring mining companies.
Contact Uttara Choudhury at [email protected]
Follow her on Twitter: @UttaraProactive