Dear ABM Community, As we wrap up 2024, we're pleased to share that the year has been critical for positioning our company for success. We’ve made significant strides in securing the necessary permits, advancing conversations with Direct Lithium Extraction (DLE) technology providers, and preparing for our upcoming uplisting. These achievements have laid the groundwork for an exciting 2025. Key Achievements in 2024:- Secured Permits: We received the necessary approvals from the Bureau of Land Management (BLM) and the State of Utah Department of Natural Resources to begin exploration drilling at our Lisbon Valley Lithium Project in Utah, setting us up for future resource development. Our focus remains on Utah's Paradox Basin, where initial findings from the Peterson Fed 88-21P well bore suggest strong potential. This is a key step toward our goal of developing high-value lithium resources to support the growth of the US critical minerals supply chain for use in Electric Vehicles (EV’s) and energy storage markets.
- Uplist to a Major Exchange: We are on track for uplisting to a major stock exchange, to enable us to raise capital, accelerate operations, and limit dilution.
- Progress with DLE Technology: We have made significant progress in evaluating different DLE technology providers to determine the appropriate fit for our Lisbon Valley Project, which we believe have the potential to significantly increase the supply of lithium from brine as other technologies have increased the supply of oil from shale.
- Geological Studies: We have been executing the necessary steps to determine analytical results for our technical report, which should provide current results, analytical, geotechnical modeling, aquifer modeling, recharge, flows and depth.
Looking Ahead to 2025:As we look ahead, 2025 holds the potential to be a year of meaningful progress and growth as we continue to advance our lithium projects and expand our market presence. With permits in place and our uplisting on the horizon, we aim to achieve the following milestones: - Intended Uplisting to NYSE and Securing Capital: We intend to apply for the listing of our common stock for trading on the NYSE and raise funding to re-enter the Peterson Fed 88-21P well, enabling us to develop a well plan to re-enter, sample and test the resource.
- Pilot Lithium Plant, H2 2025: After re-entering the Peterson Fed 88-21P well and confirming lithium content, we plan to build a pilot DLE plant to validate our technology and move toward full-scale production.
- Capitalize on Market Opportunities: With rising lithium demand and favorable policies under a potential Trump re-election, 2025 presents a strong opportunity to expand our market share as the focus shifts to strengthening domestic mineral supply.
Looking Forward2024 was a year of preparation, and we are excited about the momentum carrying us into 2025. With the permitting secured, our uplisting approaching, and strong market conditions, we are confident that 2025 will be a year of significant progress for our company and shareholders. Thank you for your continued support as we move forward. We are excited about the road ahead and appreciate your continued support as we work to drive value for all stakeholders in 2025. Best regards, David Graber CEO, American Battery Materials Inc
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