American Battery Technology Company Releases 3rd Fiscal Quarter FY2023 Financial Results.

RENO, Nev: American Battery Technology Company (ABTC) (OTCQX: ABML), an American critical battery materials company that is commercializing both its primary battery minerals manufacturing and secondary minerals lithium-ion battery recycling technologies, has announced financial results from its third fiscal quarter 2023, ending on March 31, 2023.

The company's Q3 FY2023 financial report shows continued and accelerated advancement of bringing new, domestic battery metal products to market. As the Inflation Reduction Act (IRA) reshapes global supply for battery metals, ABTC is advantageously and aggressively commercializing in its three core businesses of lithium-ion battery recycling, battery resource mineral development, and battery metals manufacturing.

American Battery Technology continues accelerated advancement of bringing new, domestic battery metal products to market

During this quarter, ABTC accelerated and expanded its lithium-ion battery recycling business by securing an additional manufacturing facility, which is a move-in ready 137,000 square foot facility that was previously used for the recycling of lead-acid batteries. While all of the legacy processing equipment has been removed, the facility is already equipped with the necessary infrastructure and utility systems necessary to implement ABTC's internally developed lithium-ion battery recycling technologies at commercial scale. The ABTC construction and operations teams began moving in and installing its processing equipment in April and the company anticipates commissioning of operations in Summer 2023. A term sheet agreement has already been executed for a $20M pre-payment purchase of some of the facilities' first recycled metal products.

Also in this quarter, ABTC published its maiden resource report for its Tonopah Flats Lithium Project near Tonopah, Nevada. ABTC has been exploring and evaluating this lithium-bearing sedimentary claystone deposit for the past year and this SK-1300 compliant resource report, which was written by the third-party firm RESPEC, LLC acting as the Qualified Person (QP), concluded that this is one of the largest known lithium resources in the United States.

In order to bring this immense lithium resource to market, ABTC performed a competitive bid process for the design, construction, and commissioning of a commercial scale lithium hydroxide refinery based on its internally developed processing technologies. Proposals were submitted by many of...