Shares of American Battery Technology Company (OTCMKTS:ABML) continued to move lower and now down 18% in a week. The stock has lost 40% over the past year.
On Friday, ABML stock moved down 7.47% to $0.8420 with 6.86 million shares, compared to its average volume of 3.13 million shares. The stock has moved within a range of $0.8300 – 0.9385 after opening trade at $0.9010.
American Battery Technology Delivers First Tonopah Flats Lithium Samples for Analysis
American critical minerals and lithium-ion battery recycling company, American Battery Technology Company (OTCMKTS:ABML), on January 13, 20222, finished drilling of the first set of a number of sampling locations and gave the subsurface samples collected from the Tonopah Flats Lithium Exploration Project for analysis.
Collected from initial secured 305 lode mining claims, it is situated in Big Smoky Valley near Tonopah, Nev.
ABTC CEO Ryan Melsert said that the firm is proud of the Resources team efficiently developing and executing initial exploration drilling and sampling efforts. Ryan added that the firm has commenced analyzing the characterization results from the starting samples.
The results are promising on initial surface samples along with confirmed geological representative characteristics as well as surface expressions of adjacent claims.
The mineral company started an additional exploratory subsurface sampling program for furthering resource development where sample results would be harnessed for the understanding extent of deposit in footprint as well as grades of the lithium.
ABTC will carry on with extra exploratory drilling even as analysis of initial samples are ongoing. The Lithium Exploration Project encompasses exploration, sampling as well as analysis of 427 unpatented lode mining claims covering 8,540 acres of land.
“We’re proud of how quickly and efficiently our Resources team has been able to develop and execute this initial exploration drilling and sampling effort, and we’re excited to begin analyzing the characterization results from these initial samples,” stated ABTC CEO Ryan Melsert.
ABML stock is trading below the 20-Day and 50-Day Moving averages of $0.99 and $1.13 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.51.