American Battery Technology Company (OTCMKTS:ABML) Stock Down 12% in a Month

Critical minerals firm American Battery Technology Company (OTCMKTS:ABML) has had a bit of a struggle in the capital markets for the past month and during that period, its stock has tanked by as much as 12%.

Market Stats

On Friday, ABML stock ended flat at $1.2500 with more than 2.46 million shares, compared to its average volume of 2.45 million shares. The stock has moved within a range of $1.2400 – 1.2700 after opening the trade at $1.2400.

Latest News

While it is true that there has been no news at all about the company during the period, it might be a good idea for investors to take a look at an announcement from the company back in September. On September 27 American Battery Technology announced that it signed some definitive agreements with an institutional asset manager from the United States with regards to the sale and purchase of securities to the tune of as much as $39,100,000.

In this regard, it is also necessary to keep in mind that fee and expenses related to the transaction were also deducted from the aforementioned sum of money. The raising of fresh capital could prove to be a massive boost to the company considering the fact that American Battery Technology noted at the time that the money was going to be deployed for the commissioning and construction of battery recycling plant in Nevada.

The battery recycling plant has a yearly capacity of 20,000 metric tons and the fresh capital is going to be fully fund the construction.