American Lithium Minerals, Inc. - (OTC BB: AMLM) since January has remaine very steady with a standing last bid of $.87 on Friday which was a +$.01 (+1.16%) change from the closing of the market on Thursday.
Check out the chart below showing a pretty steady share price since January, which could definitely be an indicator for a breakout!
The main objective of the U.S.-based mineral exploration company, AMLM, focuses on the development of lithium and boron resources in Nevada in order to develop a world-class lithium project that will capitalize on surging demand for lithium-ion batteries, particularly for hybrid and electric vehicles. Because the nation’s green energy legislation and long-term energy policies depend on developing a healthy lithium-ion battery manufacturing sector, lithium is a high-priority and strategic mineral for the U.S.
American Lithium’s primary asset is the high-grade Borate Hills property in western Nevada, one of the world’s premier known lithium deposits and ranked by previous operator US Borax as the second-largest boron deposit in the U.S. A $4.5 million exploration and development program is aimed at completing an economic pre-feasibility study on the Borate Hills Project to advance the project to the feasibility stage.
(above) lithium deposits in Nevada
AMLM and Japanese Oil, Gas and Metals National Corporation (JOGMEC) recently announced that the two companies had entered into a Memorandum of Agreement, in which American Lithium granted JOGMEC the option to purchase up to a 40% interest in the Borate Hills Project for $4,000,000 in cash or in kind over the next 3 years. JOGMEC will have 90 days to complete the due diligence on the project and conduct a geological review of the project. In exchange for its ownership interest, JOGMEC will receive any minerals produced from the mining in proportion to its percentage ownership.
Learn more at www.americanlithium.com
This company definitely deserves to stay on your watchlist!
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