American Battery Materials Inc (BLTH)

[solong]

$BOXS - 1st, having a well does not mean that you can have a rig onsite. Just that you have an abandoned well. The report from yesterday (when I it for the 1st time) stated that further tests needed to be done to determine the flow of the brines so that you'd know where to drill.

Then there are tons of regulations a company needs to meet before it sinks a bit in the ground. Many of those are new regulations regarding cleanup. Texas has stated that it would take over $300mil to clean up abandoned wells, the Houston Chronicle investigated and found that was approximately half of the abandoned wells in the State and said the cleanup is closer to $600mil. So States are beginning to require larger bonds, which means your costs to drill goes up. It is cheaper to buy a rig than pay the per day rate so they'll need more cash.

We have to monitor this for progress and with each successful step forward, it will mean less risk. With less risk, the share price will move higher.

This one just requires additional patience...imo