Proactive Investors - Run By Investors For Investors
Why invest in ABM?
African Battery Metals Plc: DEEP DIVE
OVERVIEW

African Battery Metals refinanced and off to a fresh start

A reinvigorated African Battery Metals is about to embark on the next phase of its story
African Battery Metals refinanced and off to a fresh start
OVERVIEW: ABM The Big Picture
Exploration team in the Democratic Republic of Congo
 
  • Focus on key metals used in new generation batteries
  • Portfolio of assets across west and central Africa
  • New and experienced management team now on board
  • Newly capitalised, with Red Rock Resources now on the register

What African Battery Metals does

African Battery Metals PLC (LON:ABM) is a specialist exploration company focusing on the exploration and development of projects containing the key metals used in new generation batteries, particularly in electric vehicles.

In particular, the focus will be on cobalt, copper, lithium and nickel. Demand for all of these metals is set to rise in coming years as electric cars become more ubiquitous. Indeed lithium and cobalt have already seen significant price moves.

What African Battery Metals owns

African Battery Metals has assets in three countries in Africa, Côte d’Ivoire, Democratic Republic of Congo, and Cameroon.

ABM holds two licences in the DRC: Kisinka and Sakania, the latter by means of an exclusive option agreement.

Kisinka is a 50 square kilometre licence with seven kilometres of strike along the roan group of rocks, which hosts most of the DRC’s copper and cobalt mines. There are many large cobalt-copper mines in the area, both on strike and in the same rock structure, to the west.

Kisinka and Sakania are prospective for copper and cobalt.

In Cameroon, African Battery Metals holds, through its subsidiary Cobalt Blue Holdings, four nickel-cobalt exploration licences, Ngoila Nord, Ngoila Est and Ekok and N’Dja.

The company has also applied for two further Cameroon-based nickel-cobalt exploration licences at Ntam Est and Ngaoundéré. 

In Côte d’Ivoire, African Battery Metals has entered into an agreement to earn into 70% of the Lizetta II chrome, nickel, cobalt exploration licence Côte d’Ivoire by expending a total of USD 850,000 on the project over the period to June 2021.

Inflection points

  • New management have initiated a strategic review to cut costs
  • New opportunities under active consideration
  • Focus may broaden from battery metals

New and experienced management team look to make their mark

African Battery Metals was refinanced in January of 2019, and as part of that process seasoned mining entrepreneurs Paul Johnson and Andrew Bell were appointed to the board and allotted shares.

Johnson was the driving force behind the growth of Metal Tiger (LON:MTL) into the successful investment vehicle it is today.

Bell founded Red Rock Resources (LON:RRR) and Regency Mines (LON:RGM), and has a long track record of deal-making in the junior resources space. Red Rock Resources has also come onto the African Battery Metals share register by subscribing for £100,000 worth of the new shares for a 6.89% interest.

 

 

 

 

 

 

View full ABM profile View Profile

African Battery Metals Plc Timeline

Related Articles

wedding rings
February 05 2019
Alba holds 11.765% of the Horse Hill project near Gatwick Airport in the UK’s Weald basin
Lake Yindarlgooda at Riversgold’s project in the Goldfields
February 15 2019
The Eastern Goldfields is Riversgold’s focus in Western Australia while it also has ground in South Australia and Alaska.
1551267092_Jupiter-Mines---Tshipi-ore.jpg
March 29 2019
The cash flow provides ballast against dilution, allowing the company carefully to consider each new opportunity on its merits

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use