Investment Research report

American Battery Metals Corp. | Comstock Mining Inc.

OTCBB: ABML / NYSEAmex: LODE
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American Battery Metals Corp. | Comstock Mining Inc.
A Recycled Story By Two Questionable Management Teams LODE’d With Issues
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American Battery Metals Corp. | Comstock Mining Inc.
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Research Overview

INDEX:
S&P 500
Sector:
Materials
Position:
Short
Date:
Mar 10, 2021

Overview: After conducting a forensic financial and accounting review, Spruce Point believes American Battery Metals Corp. (OTCBB: ABML) and Comstock Mining Inc. (NYSEAmex: LODE), two companies with grand ambitions to enter the market for EV battery recycling, have claims of hundreds of millions of dollars in near-term revenues that should be heavily discounted by investors. Based on our investigation, we estimate up to 90% downside.

The report highlights several key concerns with the company, including: 

  • Information on why we believe both companies may fail to achieve lofty revenue and profit targets set by management
  • Evidence that ABML’s CEO and a Board member did not provide complete disclosures of past public company business ventures that failed and faced SEC fraud charges
  • Data that shows ABML has not submitted applications or permits related to its Fernley property, in direct contradiction of management’s claims 
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