This morning American Batter Metals Corporation (OTCMKTS:ABML) announced this morning that it has completed the acquisitions as well as the recording of two more water rights.
The announcement was also welcomed by the market and the American Batter Metals stock went up by 7%. It is a major development for the lithium ion battery recycling technology company since the water rights will ensure that the company gets the water supply that will be necessary for building its pilot plant.
The pilot plant is eventually expected to have an output of 20000 metric tons. The two water rights registrations measure up to 21.635 acre feet combined. These water rights are located in Basin 76 and these water rights are vital for the proper functioning of the pilot plant. The latest acquisitions have brought the total water rights acquired by American Batter Metals to 116.635 acre feet. It will be interesting to see if the latest news creates any bullish pressure on the stock or not.