ABML - Gold Panda's OTC Short Ideas - American Battery Metals Can't Compete With Li-Cycle

• American Battery Metals wants to build a 20,000 Mt pilot plant for the recycling of lithium-ion battery metals, which makes it a direct competitor of Li-Cycle.
• It claims that this facility can generate annual revenues of around $160 million and that the EBITDA margin is around 80%.
• I find this highly doubtful, considering the margins of Li-Cycle are much lower and the latter is among the market leaders.
• Unlike Li-Cycle, American Battery Metals doesn’t have much in terms of partnerships and funding.
• I don’t think the business is worth much in its current state.

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