The battery materials company American Manganese Inc (TSX:AMY.V) (OTCQB:AMYZF) is involved in the business of upcycling and recycling lithium-ion battery waste. The process used by the company does not have too many steps and can lead to as much as 100% extraction of cobalt, nickel, manganese and lithium. The materials can then be used for the re-manufacturing of lithium-ion-based batteries.

Trading Data                

On Wednesday, AMYZF stock went up 1.35% to $0.3760 with more than 73.7K shares, compared to a volume of 86K shares. The stock moved within a range of $0.3710 – 0.3900 after opening trade at $0.3800.

There has not been any news about American Manganese this month so far but it had been in the news back on August 31, 2022, when it made an announcement with regards to some of the merits of its upcycling and recycling process. The company noted that another of the major merits of its process was the fact that it led to the production of a lesser amount of carbon dioxide when compared to other methods of extraction.

That is a significant development considering the fact that more and more stakeholders are now looking for ‘greener’ ways of doing their business. If there is a process that can lead to lower carbon dioxide emissions then it may interest those who are environmentally responsible.

The revelations were made in a report for the life cycle assessment that had been completed by Minviro Ltd. Minviro is based out of the United Kingdom and is known internationally for its work on the life cycle and sustainability consultancy. The latest announcement from the company must have been noticed by investors as well as analysts and most likely by players in the battery manufacturing industry as well. It remains to be seen if it can lead to any traction for the American Manganese stock or not.

Technical Data

AMYZF stock is trading below the 20-Day and 50-Day Moving averages of $0.39 and $0.40 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.41.

By Ankit Singhania

Based in India, Ankit is a financial content writer and stock market analyst. He has worked for more than a decade on several financial projects related to stock market news, fundamental research and technical analysis for several websites. He obtained his Masters Degree In finance (MS – finance) from ICFAI.

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