American Manganese Inc. (CVE:AMY) shares rose on Thursday as the firm revealed that it's independent contract lab, Kemetco Research, has begun testing third-party lithium-ion battery materials, following the successful testing of the pilot plant project’s fifth and final stage, announced on September 17, 2019.
In afternoon trade in Toronto, shares in American Manganese were 7% higher at $0.23.
In a statement, the firm said the third-party materials are disassembled end-of-life lithium-ion batteries and manufacturing scrap cathode sent from Asia, North America, and Europe.
It noted that the third-party material will undergo all five stages of the company’s patented lithium-ion battery recycling process, RecycLiCo, to achieve high recovery and battery grade purity of lithium, nickel, cobalt, and manganese.
Larry Reaugh, president and CEO of American Manganese commented: “We are extremely pleased with the development and testing of our lithium-ion battery recycling pilot plant project."
“We are in an excellent position to demonstrate our years of experience to potential tier-one partners in the lithium-ion battery industry,” he added.
The company said test results will be reported as they are completed and received.
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