The American Battery Metals Corporation (OTCMKTS:ABML) was in the news yesterday after it made a major announcement and that led to the company’s stock ending the day with gains of as much as 7%. The lithium ion battery recycling technology company, which mainly operates in Nevada, announced yesterday that it signed a collaborative agreement with the company Global Energy Metals Corporation.
It could prove to be a significant deal for the company since it is going to help American Battery Metals Corporation in expanding its capabilities by helping it in manufacturing cobalt and nickel batter metals at a domestic level.
It will be an important addition to the company’s existing capabilities of manufacturing lithium based products. Over the course of the past two years American Battery Metals Corporation has emerged as a company that is involved in the manufacturing of batter grade lithium from its own resources in the state of Nevada.
Now, the company is going to have the capability of branching into other variants of batter metals. The rally in the stock on Wednesday was perhaps understandable. It is now going to be interesting to see if he stock can continue to add to its gains over the coming days.
ABML stock moved up 6.67% to $0.1.44 in the previous trading session with more than 2.09 million shares traded hands, above its average volume of 2.40 million shares.