Targets a September 15 Closing on the Secured Land in Fernley, Nevada
INCLINE VILLAGE, NV / ACCESSWIRE / August 18, 2020 / American Battery Metals Corporation (OTCQB:ABML) (the "Company"), an American-owned advanced extraction and lithium-ion battery recycling technology company with extensive mineral resources in Nevada, is pleased to announce that it has finalized the initial equipment orders for its first lithium-ion battery metals recycling plant.
We have now finalized the orders for the equipment to enable the first phase of operations, and expect the staggered delivery of this process equipment over the next 4-6 months," stated, American Battery Metals Corporation Chief Technology Officer, Ryan Melsert. "Correspondingly, we are proceeding with the steps to close on our secured land deal by September 15 and for the construction of the first phase of our internally designed production facility to be ready to receive equipment for installation in 4-6 months. The parallel efforts of the manufacturing of the custom process equipment and the construction of the processing facility will allow for minimum time and costs to enable first start-up of this first-of-kind integrated process."
The American Battery Metals Corporation internally developed lithium-ion battery recycling system consists of two distinct phases of processing operations. The first phase enables the feeding of battery end-of-life materials and battery manufacturing waste, and the rapid disassembly and separation of these feedstock materials into intermediate products of value. Initially these intermediate products will be sold directly to the secondary processing markets to enable profitable operations, however subsequently further value add operations in the second phase of the American Battery Metals Corporation process will be implemented to further increase margins and these intermediate products will instead be upgraded to battery grade metal feedstocks to be sold back in to the high energy density cathode supply chain.
American Battery Metals Corporation
American Battery Metals Corporation (www.batterymetals.com) (OTCQB:ABML) is an American-owned, advanced extraction and battery recycling technology company with extensive mineral resources in Nevada. The company is focused on its lithium-ion battery recycling and resource production projects in Nevada, with the goal of becoming a substantial domestic supplier of battery metals to the rapidly growing electric vehicle and battery storage markets.
For more information, please visit:www.batterymetals.com
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including those with respect to the expected project economics for Western Nevada Basin (Railroad Valley), including estimates of life of mine, average production, cash costs, AISC, initial CAPEX, sustaining CAPEX, pre-tax IRR, pre-tax NPV, net cash flows and recovery rates, the impact of self-mining versus contract mining, the timing to obtain necessary permits, the submission of the project for final investment approval and the timing of initial gold production after investment approval and full financing, metallurgy and processing expectations, the mineral resource estimate, expectations regarding the ability to expand the mineral resource through future drilling, ongoing work to be conducted at the Western Nevada Basin (Railroad Valley), and the potential results of such efforts, the potential commissioning of a Pre-Feasibility study and the effects on timing of the project, are "forward-looking statements." Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, interpretations or reinterpretations of geologic information, unfavorable exploration results, inability to obtain permits required for future exploration, development or production, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices, final investment approval and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended September 30, 2019. The Company assumes no obligation to update any of the information contained or referenced in this press release.
SOURCE: American Battery Metals Corporation