Press release
American Battery Technology Company Announces S-K 1300 Initial Assessment for its Tonopah Flats Lithium Project
Initial Assessment, with engineering economic analysis supported by metallurgical and processing studies, has resulted in: Updated mineral resource estimate
About this update from American Battery Technology Company
[{"type":"text","content":"Initial Assessment, with engineering economic analysis supported by metallurgical and processing studies, has resulted in:\nUpdated mineral resource estimate of 18.03 million tons lithium hydroxide monohydrate, with an Inferred classificationAfter-tax cash flows: NPV of $4.41 billion @10% discount, IRR of 65.8%, and payback period of 2.4 yearsA mine life of over 400 years with average annual production of 33,000 tons lithium hydroxide monohydrateRENO, Nev., Dec. 21, 2023 /PRNewswire/ -- American Battery Technology Company (ABTC) (NASDAQ: ABAT), an integrated critical battery materials company that is commercializing its technologies for both primary battery minerals manufacturing and secondary minerals lithium-ion battery recycling, is pleased to announce a positive Initial Assessment for its Tonopah Flats Lithium Project (TFLP) located in Big Smoky Valley, near Tonopah, Nevada.\n\n \n \n \n \n \n \n\n \nIn February 2023, ABTC published its Maiden Resource Report for the TFLP which identified it as one of the largest known lithium resources in the U.S., and now this U.S. SEC S-K 1300 Initial Assessment (similar to a Preliminary Economic Assessment under Canadian NI 43-101 standards) updates this resource report by also including:\nAdditional data from the company's Drill Program IIMineral processing and metallurgical testing specifically with ABTC claystone materialCapital and operating costs of a commercial-scale 33,000-ton/year lithium hydroxide monohydrate (LHM) facilityEconomic analysis for the lifetime of the projectRecommended next steps for the TFLP project\"We are excited to have expanded upon our Maiden Resource Report from this past Spring with this Initial Assessment to further refine the analysis of the magnitude and quality of this unconventional, domestic lithium resource, and also to detail the financial competitiveness of bringing this resource and commercial-scale lithium hydroxide refinery to market,\" stated ABTC CEO Ryan Melsert. \"There is extremely large demand for U.S.-based battery grade lithium products, especially in the hydroxide form that can enable the manufacturing of high energy density cathode materials. Enhanced by the support of our U.S. Department of Energy grants, the economics of this project are very compelling and result in a full project payback period of only 2.4 years.\"\nIn order to eva...