Market Overview - U.S. stock futures were higher, with Dow futures gaining over 100 points on Thursday [1] Company-Specific Movements - Satellogic Inc. (NASDAQ:SATL) shares fell 13.1% to $3.60 in pre-market trading following a proposed public offering [1] - American Battery Technology Company (NASDAQ:ABAT) shares dipped 23.9% to $6.81 after the DOE terminated a grant [3] - Hyperfine, Inc. (NASDAQ:HYPR) shares decreased 14.1% to $1.89 due to preliminary third-quarter revenue results falling below estimates and a proposed public offering [3] - Omeros Corporation (NASDAQ:OMER) shares declined 9.2% to $9.45 after a significant 154% increase the previous day following Novo Nordisk's acquisition of its global rights to Zaltenibart [3] - Hewlett Packard Enterprise Company (NYSE:HPE) tumbled 8.6% to $22.85 despite reporting record revenue driven by AI demand, as restructuring costs compressed profit margins [3] - NIO Inc. (NYSE:NIO) fell 8.5% to $6.24 in pre-market trading [3] - Inventiva S.A. (NASDAQ:IVA) declined 7.5% to $5.06 after a 10% gain the previous day [3] - Bitfarms Ltd. (NASDAQ:BITF) fell 4.6% to $6.17 after announcing a $300 million convertible senior notes offering [3] - Rigetti Computing, Inc. (NASDAQ:RGTI) shares fell 4.8% to $53.66 following CEO Subodh K. Kulkarni's sale of 1,000,000 shares, raising concerns about leadership commitment [3] - Datavault AI Inc. (NASDAQ:DVLT) slipped 4.8% to $2.00 in pre-market trading [3]

Core Viewpoint - American Battery Technology Co (NASDAQ: ABAT) experienced a significant stock crash of up to 40% following the Department of Energy's (DOE) unexpected announcement to rescind a $52 million grant, which was crucial for its lithium hydroxide refinery project [7][9][14] Company Overview - The revoked grant was intended to support domestic battery material production and reduce reliance on foreign supply chains, making its loss a major setback for ABAT [9] - The company has seen its stock price increase over 400% since April, indicating strong retail investor interest despite the recent decline [8][14] Financial Implications - The DOE grant was not merely symbolic; it served as the financial backbone for ABAT's operational ambitions, and its loss raises concerns about the company's operational credibility and future prospects [9][10] - The revocation of the grant suggests potential compliance or execution issues and removes a significant non-dilutive funding source, which could be catastrophic for a pre-revenue firm in a capital-intensive sector [10] Market Sentiment - Investors are now questioning whether ABAT can secure alternative financing or if it will need to resort to dilutive equity raises to remain operational [10] - The company's fundamentals do not currently support a contrarian investment, as it lacks meaningful revenue, has negative cash flow, and limited visibility into commercial-scale production [11][12] Risk Factors - The loss of the DOE award not only delays the refinery timeline but also increases the likelihood of shareholder dilution, compounded by a lithium market facing oversupply and falling prices [12] - The recent stock price surge has been attributed to retail investors, but the sudden loss of federal support has exposed the fragility of this momentum [13][15] Analyst Coverage - Currently, only one analyst covers ABAT, with a price target of $6.0, indicating a lack of meaningful upside potential from the current stock price [16]

American Battery Technology称，已就拨款终止决定提出上诉。同时该公司表示，今年已从公开市场筹 集到超过5200万美元资金，计划继续推进该项目，且项目时间表与规模均不会改变。 今年4月，American Battery Technology曾收到美国进出口银行的意向函，对方拟提供9亿美元融资，以 支持其在内华达州的锂矿及精炼厂建设。 智通财经APP获悉，American Battery Technology(ABAT.US)继周三暴跌21%后，夜盘跌势不止，截至发 稿，盘后大跌17%。此前该公司披露，美国能源部(DoE)已终止为其提供的一笔拨款，该拨款原本用于 建设一座商业规模的电池正极级氢氧化锂生产设施。 根据原拨款计划，能源部将为该设施出资5770万美元，公司自身也需投入同等金额。该公司表示，截至 10月9日，能源部尚未报销的资金约有5200万美元。 ...

Core Insights - American Battery Technology Company (ABTC) stock has surged significantly due to a regulatory breakthrough related to its Tonopah Flats Lithium Project in Nevada, with key regulatory baseline studies completed on October 13, 2025 [2] - The stock has achieved a total return of 132% over the seven trading days following the announcement, adding over $1 billion to its valuation and bringing its market capitalization to approximately $1.3 billion [3] - The stock is currently trading 360% higher than its price at the end of 2024, significantly outperforming the S&P 500's year-to-date return of 13% [3] Company Overview - American Battery Technology engages in the exploration, mining, extraction, and recycling of battery metals, holding extensive mining claims and private properties with water rights in the Western Nevada Basin [4] Market Trends - The recent momentum in ABAT stock may indicate increasing investor confidence, as a streak of gains over multiple days often precedes further buying activity [5] - Currently, there are 21 S&P 500 constituents that have experienced three or more consecutive days of gains, indicating a broader trend in the market [6]

Core Insights - Lithium mining stocks are gaining attention, particularly American Battery Technology Co (ABAT), which saw a 33% increase to $8.98 after completing NEPA baseline studies for its Tonopah Flats Lithium Project [1] - ABAT reached a two-year high of $10.18 and is on track for its sixth consecutive daily gain, with a year-to-date increase of 267.3% [2] - Lithium Americas Corp (LAC) shares rose 11.4% to $8.35, benefiting from U.S.-China trade discussions, with a significant 206.9% increase over the past six months [3] Company Performance - ABAT's stock performance has been notable, with a significant rally from penny stock levels and high trading volume in options, particularly in the October 10 call [2] - LAC's stock has shown resilience, breaking through the $5 mark in late September and trading above all moving averages, indicating strong momentum [3] - Despite positive trends, LAC faces a cautious outlook from analysts, with 10 out of 13 brokerage firms maintaining a "hold" or worse rating, and 13.2% of its float sold short [4]

Shares of American Battery Technology Company (NASDAQ: ABAT) soared 37% to $9.27 on Monday after the company announced it had completed all required baseline studies for its Tonopah Flats Lithium Proj... ...

Market Overview - U.S. stocks experienced an upward trend, with the Dow Jones index increasing by approximately 500 points on Monday [1] Bloom Energy Corporation - Bloom Energy Corporation's shares surged by 25.5%, reaching $109.03, following the announcement of a $5 billion partnership with Brookfield Asset Management to advance AI infrastructure [2][1] - The partnership will focus on deploying Bloom's technology for global AI factory projects, including a European site expected to be announced by the end of the year [1] American Battery Technology Company - American Battery Technology Company's shares rose by 35% to $9.11 after completing all required NEPA baseline studies for its Tonopah Flats Lithium Project, one of the largest lithium projects in the U.S. [4] Rare Earth Mineral Stocks - Stocks related to rare earth minerals saw significant gains, with Critical Metals Corp. increasing by 34% to $20.08 and USA Rare Earth, Inc. rising by 26% to $40.96, following President Trump's consideration of increased tariffs on Chinese products [4] - United States Antimony Corporation's shares rose by 24.4% to $15.20, while MP Materials Corp. gained 21.8% to $95.47 amid ongoing strength in the sector [4] Semiconductor Companies - Semiconductor stocks experienced a boost, with Broadcom Inc. rising by 9.3% to $354.83 after announcing a collaboration with OpenAI to deploy 10 gigawatts of AI accelerators [4] - Taiwan Semiconductor Manufacturing Company Limited gained 7.5% to $301.79, reflecting overall market strength and increased trader confidence [4] Tesla, Inc. - Tesla, Inc. shares increased by 3.5% to $428.14, as the company recorded its second-highest monthly sales in China for 2025 during September, indicating continued growth in the Chinese market [4]

Core Insights - American Battery Technology Company (ABTC) has completed all required baseline studies and submitted reports to the U.S. Bureau of Land Management (BLM) for the Tonopah Flats Lithium Project (TFLP), marking a significant milestone in the federal permitting process [1][4][10] Project Overview - The TFLP is one of the largest lithium projects in the United States, located in Big Smoky Valley, Nevada, covering over 10,340 acres and containing 21.15 million tons of accessible lithium hydroxide monohydrate [7][10] - The project is supported by ABTC's proprietary selective leach extraction (SLE) process, which is a cost-effective alternative to conventional extraction methods [8] Permitting Process - The project underwent a federal permitting process in accordance with the National Environmental Policy Act (NEPA), requiring extensive environmental analyses and baseline resource inventories [2][3] - A Baseline Needs Assessment meeting was held in March 2023 with over 40 regulatory agencies and stakeholders to identify necessary studies for the permitting process [2] Studies and Reports - A total of 21 studies across 14 categories were identified as necessary for the NEPA review process, covering biological, ecological, hydrological, geological, cultural, and socio-economic aspects [3][4] - The completion of these studies represents over two years of dedicated efforts and collaboration with third-party expert firms [3][4] Future Development - ABTC has submitted a comprehensive Mine Plan of Operations (MPO) for the TFLP, which is currently under review by the BLM [5] - The company is preparing for the next phases, including the release of a Pre-Feasibility Study to analyze the technical and economic viability of the project [5][10] Government Support - The TFLP was designated as a Transparency Priority Project by the FAST-41 Permitting Council and the National Energy Dominance Council, aligning with initiatives to expedite domestic mineral production [5][10] - In 2025, the project received a $900 million Letter of Interest from the Export-Import Bank of the United States for a low-interest loan to support its expansion [10] Community Engagement - ABTC is committed to fostering strong relationships with local communities, tribal organizations, and stakeholders, focusing on project updates and stakeholder feedback [6]

Core Insights - American Battery Technology Company (ABTC) has formed a strategic partnership with Call2Recycle to enhance lithium-ion battery recycling options for U.S. consumers, transitioning from a business-to-business model to a direct-to-consumer approach [1][3][5] - The partnership aims to strengthen the domestic supply chain for critical minerals, reducing reliance on foreign sources and promoting a circular economy for battery materials [3][5] Group 1: Partnership Details - Call2Recycle operates an extensive network for collecting end-of-life lithium-ion batteries, which will now be processed at ABTC's advanced recycling facilities [2][4] - ABTC utilizes a closed-loop recycling system to recover critical minerals such as lithium, cobalt, nickel, and manganese with high efficiency and minimal environmental impact [2][3] Group 2: Strategic Importance - The collaboration addresses the increasing demand for critical minerals driven by the growth of electric vehicles and consumer electronics, contributing to national energy security [5] - By providing accessible recycling options, the partnership ensures valuable battery materials are reintroduced into the manufacturing cycle, preventing them from ending up in landfills [3][5] Group 3: Company Background - ABTC is headquartered in Reno, Nevada, and focuses on unlocking domestically manufactured and recycled battery metals to meet the demand from electric vehicle and consumer electronics industries [6] - Call2Recycle has been a leader in battery recycling for over 30 years, partnering with various stakeholders to enhance battery recycling accessibility [7][8]

Executive Summary & Financial Highlights [Company Announcement & Overview](index=1&type=section&id=Company%20Announcement%20%26%20Overview) American Battery Technology Company (ABTC) announced its fiscal 2025 fourth quarter and full year financial results, highlighting a significant acceleration in revenue growth that nearly tripled quarterly revenue and substantially outpaced operational cost increases, signaling a clear trajectory towards profitability - ABTC nearly tripled quarterly revenue, increasing over **180% for Q4 FY2025**[1](index=1&type=chunk) - Revenue growth substantially outpaced the increase in operational costs, signaling a clear trajectory towards profitability[2](index=2&type=chunk) [Key Financial Highlights](index=1&type=section&id=Key%20Financial%20Highlights) ABTC achieved exponential revenue growth in FY2025, with Q4 revenue nearly tripling and full-year revenue increasing over 1,100%, demonstrating strong cost control, reduced operating expenses, and a robust cash position, while also being added to the Russell 2000 index Key Financial Highlights (Q4 FY2025 vs Q3 FY2025, and FY2025 vs FY2024) | Metric | Q4 FY2025 (million $) | Q3 FY2025 (million $) | Change (QoQ) | FY2025 (million $) | FY2024 (million $) | Change (YoY) | | :-------------------------------- | :------------------- | :------------------- | :----------- | :----------------- | :----------------- | :----------- | | Revenue | 2.8 | 1.0 | +183% | 4.3 | 0.3 | +1,149% | | Cash Cost of Goods Sold (non-GAAP) | 3.9 | 2.3 | +70% | 10.5 | 1.8 | +483% | | Total Operating Expenses | N/A | N/A | N/A | 31.4 | 44.8 | -30% | - Added to Russell 2000 index in June 2025, resulting in a significant increase in trading volume and institutional ownership[3](index=3&type=chunk) - Strong cash position with **$12.5 million** at June 30, 2025, further enhanced to **$25.4 million** as of September 15, 2025[3](index=3&type=chunk) Operational Highlights [CEO Statement](index=2&type=section&id=CEO%20Statement) CEO Ryan Melsert expressed pride in the ABTC team's exponential ramp-up of operations at their first recycling facility and outlined an exciting path ahead, including continued growth and accelerating the commercialization of the Tonopah Flats Lithium Project and a second battery recycling facility - CEO Ryan Melsert highlighted the exponential ramp-up of the first recycling facility and future growth plans for the Tonopah Flats Lithium Project and a second battery recycling facility[4](index=4&type=chunk) [Battery Recycling Highlights](index=2&type=section&id=Battery%20Recycling%20Highlights) ABTC significantly scaled its battery recycling operations, increasing Q4 throughput by 70% and expanding feed material sources to include stationary battery energy storage systems, while successfully completing its USCAR contract and securing a **$144 million** DOE grant for a second facility - Continued ramp of operations at the first battery recycling facility, with Q4 throughput increasing **70%** over Q3[6](index=6&type=chunk) - ABTC's recycling facility is now receiving substantial quantities of feed material from stationary battery energy storage systems (BESS), in addition to end-of-life electric vehicles and consumer electronics[6](index=6&type=chunk) - Successfully closed out and completed all requirements in its contract with the U.S. Advanced Battery Consortium (USCAR) during FY2025[6](index=6&type=chunk) - Selected for and contracted a competitive grant for **$144 million** from the U.S. DOE for the construction of a second battery recycling facility in the Southeast U.S.[6](index=6&type=chunk) [Primary Lithium from Claystone Manufacturing Highlights](index=2&type=section&id=Primary%20Lithium%20from%20Claystone%20Manufacturing%20Highlights) ABTC advanced its Tonopah Flats Lithium Project by developing proprietary technologies for lithium hydroxide manufacturing from Nevada-based claystone, completing a multi-tonne per day integrated pilot facility, gaining 'Transparency Priority' and 'Covered Project' status, and securing a **$900 million** Letter of Interest for a low-interest loan - Developed proprietary technologies for manufacturing critical mineral lithium hydroxide from Nevada-based claystone material and constructed a multi-tonne per day integrated pilot facility[6](index=6&type=chunk) - Successfully closed out and completed all requirements in its **$2.3 million** grant award from the U.S. DOE for the design, construction, and operation of its integrated domestic claystone to lithium hydroxide pilot facility[6](index=6&type=chunk) - Designed a commercial-scale lithium refinery for the Tonopah Flats Lithium Project, anticipated to manufacture **30,000 tonnes of lithium hydroxide per year**, with long-term commercial offtake agreements under development[6](index=6&type=chunk) - Tonopah Flats Lithium Project was approved as a 'Covered Project' by the FAST-41 Permitting Council and National Energy Dominance Council, prioritizing streamlined permitting[6](index=6&type=chunk) - Received an approved Letter of Interest from the US Export-Import Bank for a **$900 million** low-interest loan to support the construction of the commercial lithium mine and refinery[6](index=6&type=chunk) Financial Performance [Unaudited Condensed Consolidated Statements of Operations](index=5&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Operations) For fiscal year 2025, ABTC reported a significant increase in revenue to **$4.3 million**, alongside a gross loss of **$10.6 million**, with total operating expenses decreasing by **30%** to **$31.4 million**, contributing to a reduced net loss of **$46.8 million** Unaudited Condensed Consolidated Statements of Operations (FY2025 vs FY2024) | Metric | FY2025 ($) | FY2024 ($) | Change (%) | | :----------------------------------- | :----------- | :----------- | :--------- | | Revenue | 4,290,224 | 343,500 | +1,149% | | Cost of goods sold | 14,864,633 | 3,304,707 | +350% | | Gross loss | (10,574,409) | (2,961,207) | +257% | | General and administrative | 21,151,445 | 16,106,807 | +31.3% | | Research and development | 8,470,161 | 14,325,681 | -40.9% | | Exploration | 1,827,314 | 4,121,941 | -55.7% | | Impairment charge on held-for-sale assets | - | 10,254,037 | -100% | | Total operating expenses | 31,448,920 | 44,808,466 | -30% | | Net loss attributable to common stockholders | (46,762,625) | (52,501,824) | -11% | | Net loss per share, basic and diluted | (0.58) | (1.02) | -43.1% | | Weighted average shares outstanding | 80,316,363 | 51,243,106 | +56.7% | [Unaudited Condensed Consolidated Balance Sheets](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, ABTC's total assets increased to **$84.5 million** from **$77.7 million** in FY2024, driven by growth in current assets, while total liabilities decreased to **$13.9 million** and total stockholders' equity rose to **$70.6 million** Unaudited Condensed Consolidated Balance Sheets (June 30, 2025 vs June 30, 2024) | Metric | June 30, 2025 ($) | June 30, 2024 ($) | Change (%) | | :-------------------------------- | :---------------- | :---------------- | :--------- | | **ASSETS** | | | | | Cash | 7,474,304 | 7,001,786 | +6.7% | | Accounts receivable | 2,799,603 | 228,499 | +1,125% | | Restricted cash | 5,000,000 | – | N/A | | Total current assets | 29,532,110 | 18,406,048 | +60.4% | | Total assets | 84,457,791 | 77,675,132 | +8.7% | | **LIABILITIES & STOCKHOLDERS' EQUITY** | | | | | Total current liabilities | 13,668,605 | 15,798,298 | -13.5% | | Total liabilities | 13,858,768 | 16,207,492 | -14.5% | | Total stockholders' equity | 70,599,023 | 61,467,640 | +14.9% | [Non-GAAP Financial Measures Reconciliation](index=3&type=section&id=NON-GAAP%20FINANCIAL%20MEASURES) ABTC provides non-GAAP financial measures, specifically 'cash cost of goods sold,' to offer investors additional insights into its fundamental business performance by excluding non-cash items not indicative of core operations Reconciliation of GAAP to Non-GAAP Cash Cost of Goods Sold (Q4 FY2025) | Description | Amount ($M) | | :-------------------------- | :---------- | | GAAP Cost of Goods Sold | 5.1 | | Less: Depreciation Expense | (1.0) | | Less: Stock-Based Compensation | (0.2) | | Non-GAAP Cash Cost of Goods Sold | 3.9 | Reconciliation of GAAP to Non-GAAP Cash Cost of Goods Sold (FY2025) | Description | Amount ($M) | | :-------------------------- | :---------- | | GAAP Cost of Goods Sold | 14.9 | | Less: Depreciation Expense | (3.6) | | Less: Stock-Based Compensation | (0.6) | | Non-GAAP Cash Cost of Goods Sold | 10.7 | - Non-GAAP measures are used to provide meaningful comparisons by excluding items not reflecting fundamental business performance[11](index=11&type=chunk) Company Information & Disclosures [About American Battery Technology Company](index=3&type=section&id=About%20American%20Battery%20Technology%20Company) American Battery Technology Company (ABTC), headquartered in Reno, Nevada, pioneers technologies to unlock domestically manufactured and recycled battery metals, committed to establishing a circular supply chain for sustainable energy - ABTC pioneers technologies for domestically manufactured and recycled battery metals critically needed for electric vehicles, stationary storage, and consumer electronics industries[9](index=9&type=chunk) - Committed to a circular supply chain for battery metals, innovating for a global transition to electrification and sustainable energy[9](index=9&type=chunk) [Forward-Looking Statements](index=4&type=section&id=Forward-Looking%20Statements) This section outlines various forward-looking statements regarding ABTC's future operations, sales, financing, and project developments, emphasizing that actual results may differ materially due to inherent risks and uncertainties including going concern ability, permitting, economic conditions, and fluctuating mineral prices - Statements include future sales, potential loans/grants, scale of operations, anticipated production, and project costs/schedules[10](index=10&type=chunk) - Warns that future results may differ materially due to risks such as going concern ability, interpretations of geologic information, inability to obtain permits, general economic conditions, regulatory requirements, and fluctuating mineral prices[10](index=10&type=chunk) [Earnings Call & Media Contact](index=3&type=section&id=Earnings%20Call%20%26%20Media%20Contact) ABTC announced its fiscal year 2025 earnings call to be held on Monday, September 22, at 4:30 p.m. ET, providing details for accessing the webcast, with media contact information also provided for inquiries - ABTC will host its FY2025 earnings call on Monday, September 22 at 4:30 p.m. ET[7](index=7&type=chunk) - Media contact for inquiries: Tiffiany Moehring, tmoehring@batterymetals.com, 720-254-1556[12](index=12&type=chunk)