24/7 Market News- American Lithium Publishes Investor Letter

October 11, 2024

DENVER, Colo., Oct 11, 2024 (247marketnews.com)- American Lithium’s (NASDAQ: AMLI) interim CEO and Director, Alex Tsakumis, published a letter to shareholders.

Despite what the letter says “has been a challenging period for the battery metals industry, with market conditions affecting all lithium developers worldwide,” and lithium pricing dropping from a high of $85,000 per ton to around $10,000 per ton, American Lithium is “committed and poised for what we are confident will be a robust recovery, especially with recent global developments creating renewed optimism.”

American Lithium stated that it remains “focused on diligently advancing each of our large-scale ‘green metals’ deposits towards a pre-feasibility study (an initial blueprint for a mine) and beyond.”

The Company’s proactive steps included cutting costs, managing its advanced development work, implementing management changes, preserving its treasury and advancing its ongoing projects, while maintaining its relationships with its communities.

The board sees that an industry-wide recovery has begun and new marketplaces are emerging to support the advent of premium pricing for lithium carbonate supplies. This bodes especially well for

American Lithium plans on benefiting from several projects and Peru’s bid to generate its own nuclear energy, and will be publish an operational update this month its projects and path forward.

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