INCLINE VILLAGE, NV / ACCESSWIRE / December 10, 2019 / American Battery Metals Corporation (OTCQB:ABML) (the "Company"), a premier battery metal exploration and development and battery recycling company based in Nevada, today commented on the planned joint venture between General Motors and LG Chem.
The American auto manufacturer and South Korean chemical and battery manufacturing company will invest $2.3 billion USD to build an electric vehicle battery cell plant in Ohio, creating one of the world's largest battery manufacturing facilities. The plant is projected to have a 30 gigawatt capacity.
"This is a significant announcement between two global companies," said American Battery Metals Corporation CEO Doug Cole. He continued, "When two giants like GM and LG invest this kind of money to create a battery manufacturing plant, it's a clear indicator that the explosive projections for the adoption of EV are accurate. And it is particularly noteworthy that they will build this factory in the United States."
American Battery Metals Corporation head of business development and government affairs, Doug Nickle, said "This announcement will not go unnoticed by investors in the lithium and battery metals markets. Depressed lithium prices, due to the "oversupply myth," will likely see a turnaround in 2020 as the world realizes that the massive demand projections for EV are real and will require much more EV battery grade lithium than is currently available."
As the EV and energy storage markets continue to experience seismic growth, new sources of battery metals need to be developed. American Battery Metals Corporation is uniquely positioned to address the existing supply chain shortages through the company's exploration and mining and battery recycling divisions. "We are aggressively working to develop both our primary sources of battery materials through environmentally-sustainable mining, and we are "re-mining" lithium ion batteries through our next-gen recycling process," said CEO Doug Cole.
ABMC will discuss the economic and national security implications of the electric revolution as it meets with American lawmakers and personnel from multiple government agencies this week in Washington, D.C.
American Battery Metals Corporation
American Battery Metals Corporation (www.batterymetals.com) (OTCQB:ABML) is a premier battery metal exploration and development company based in Nevada. The company is focused on its Railroad Valley battery metal project in Nevada with the goal of becoming a substantial domestic supplier of battery metals to the increasing electric vehicles and battery storage markets in America.
For more information, please visit:www.batterymetals.com
Forward-Looking Statements
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, 2018. The Company assumes no obligation to update any of the information contained or referenced in this press release.
Contact Information
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SOURCE: American Battery Metals Corporation