American Battery Materials, Inc.

What they do

The company owns 743 placer claims over 14,320 acres in the Lisbon Valley, Utah, targeting lithium and magnesium extraction from brine using Direct Lithium Extraction (DLE). It has not commenced mining operations and has no mineral reserves as defined by Regulation S-K 1300. It has engaged RESPEC Company LLC for geotechnical and resource management work. No mining revenue has been generated to date.

Revenue drivers

• No revenue from mineral sales — The company has not sold any lithium or magnesium and has had no mining revenue to date.
• Historical mineral data from wells — The Superior Well shows historical lithium concentration of 340 ppm and magnesium of 74,400 ppm, but no extraction or production has occurred.
• Potential royalty obligations — Acquired 102 federal mining claims for $100,000 plus a 2% net revenue royalty on future mineral sales, but no sales have occurred.

Recent performance

For the six months ended June 30, 2026, the company reported no revenue and a net loss of $6.4M for the fiscal year 2025. As of June 30, 2026, total assets were $311,704, total liabilities were $12.7M, shareholder equity was negative $12.4M, and cash was $5,704. Operating cash flow for 2025 was negative $499,416. Diluted EPS for 2025 was -$2.30.

Strategy

Management intends to become a domestic producer of lithium and magnesium using DLE, which they believe is more cost-effective and environmentally responsible than hard-rock mining or solar evaporation. They plan to advance geotechnical, engineering, and fieldwork to complete technical reports on the Lisbon Valley Project, and to re-enter and test the Superior Well. They also plan to sample other plugged and abandoned wells and conduct hydrological testing. The company aims to balance near-term cash flow generation with long-term value maximization.

Risks

• Going concern doubt — The company has an accumulated deficit of $30.96M as of December 31, 2025, and may not be able to continue as a going concern.
• No reserves or production — No mineral reserves have been established, and no determination has been made that mineralization can be economically or legally extracted.
• Limited operating history — The company entered the lithium industry in November 2021 and has no revenue from lithium or magnesium, making performance difficult to evaluate.
• Need for additional capital — The company has financed operations through debt and equity issuances and will require further capital to fund exploration and development.

Outlook

Management expects to continue incurring losses until projects enter commercial production. They are focused on completing technical reports and advancing the Lisbon Valley Project. The company has not provided a timeline for production and remains in the exploration stage.