Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8)
(
“Giyani” or the
“Company”)
developer of the K.Hill battery-grade manganese project in Botswana
(
“K.Hill” or the
“Project”) is
pleased to announce that it has appointed Wood Plc
(
“Wood”) as the lead consultant on the Company’s
Definitive Feasibility Study (
“DFS”).
Highlights:
- Wood, the
internationally recognized consulting and engineering company, has
been appointed as lead consultant for the DFS on Giyani's K.Hill
project,
- Wood is a
leading hydrometallurgical group with specific expertise in battery
grade metal projects, cutting edge decarbonization solutions and
substantial in-country Botswana execution experience.
-
Construction work is progressing on the demonstration plant
(“Demo Plant”) with battery-grade manganese
(HPMSM) product expected in Q4 2024 for offtaker testing and
qualification. Technical and cost data from the operation of the
Demo Plant will be utilized for the DFS.
- In
addition to data from the Demo Plant, the DFS will utilise Giyani's
existing proprietary process which has been developed from
extensive hydrometallurgical testwork undertaken over the last five
years.
Danny Keating,
President and CEO of the Company, commented:
“After an extensive shortlisting process, we are
delighted to have partnered with a group with world class
hydrometallurgical engineering expertise. Whilst completing a
high-quality DFS is an important consideration, it is important to
Giyani’s Board and Management that Wood also share our mission to
reduce carbon emissions within their engineering solutions, and
that they have the ability to seamlessly transition from the DFS
into commercial plant construction once we have secured Project
Financing.”
Lead DFS Consultant
Appointed
Giyani has selected Wood as its lead DFS
Consultant following a rigorous selection process. Four bids were
submitted by international engineering firms before Wood was
ultimately selected after careful consideration of their technical
and engineering capability, manganese experience, team and
execution strategy.
Completion of the DFS is anticipated to take
approximately 15 months and will run concurrently with the
Company’s other activities of operating the Demo Plant, securing
licences and permits, and completing offtake agreements and the
project financing.
Phase 1 – Technical Review and Scope
Definition
Phase 1 includes an initial technical review of
historical work, a gap analysis and an in-depth review of the 2023
Preliminary Economic Assessment (“PEA”), the 2022
Feasibility Study (“FS”), and all testwork and
flowsheet development conducted by the Company over the last five
years. Phase 1 will focus on flowsheet and nameplate capacity
optimisation, a number of techno-economic trade-off studies and
value engineering.
Phase 2 – Definitive
Feasibility Study
Phase 2 includes analysis of all internal and
external infrastructure required to process the ore to produce
HPMSM, and all hydrometallurgical, geotechnical, and
hydrogeological data required for the DFS.
As part of this process, a National Instrument
43-101 – Standards of Disclosure for Mineral Project ("NI
43-101") compliant DFS will be produced and filed on
SEDAR+ at www.sedarplus.ca in accordance with the requirements of
NI 43-101.
About Giyani
Giyani is focused on becoming the dominant
western-world producer of sustainable, low carbon high purity
battery grade manganese for the electric vehicle
(“EV”) industry. The Company has developed a
proprietary hydrometallurgical process to produce HPMSM, a
lithium-ion battery (“LIB”) cathode precursor
material critical for EVs.
The Company secured US$26m in financing in Q1
from two strategic partners ARCH Sustainable Resources Fund LP and
the Industrial Development Corporation of South Africa, as it aims
to progress the K.Hill battery-grade manganese project in Botswana
to construction by building and operating the demonstration plant
and completing a Definitive Feasibility Study by H1 2025.
About Wood
Wood is a global leader in consulting and
engineering, helping to unlock solutions to critical challenges in
energy and materials markets, and provides consulting, projects and
operations solutions in 60 countries, employing around 35,000
people. www.woodplc.com.
Additional information and corporate documents
may be found on www.sedarplus.ca and on the Company's website at
https://giyanimetals.com/.
On behalf of the Board of Directors of Giyani
Metals Corp.
Danny Keating, President and CEO
Contact:
Danny KeatingPresident & Chief Executive
OfficerTel: +1 289 291 7632dkeating@giyanimetals.com
Charles FitzRoyHead of Corporate Development
& Strategycfitzroy@giyanimetals.com
Neither the TSX Venture Exchange (the “TSXV”)
nor its Regulation Services Provider (as that term is defined in
the policies of the TSXV) accepts responsibility for the adequacy
or accuracy of this news release.
The securities described herein have not been
registered under the United States Securities Act of 1933, as
amended (the “U.S. Securities Act”), or any state securities laws,
and accordingly, may not be offered or sold to, or for the account
or benefit of, persons in the United States or “U.S. persons,” as
such term is defined in Regulation S promulgated under the U.S.
Securities Act (“U.S. Persons”), except in compliance with the
registration requirements of the U.S. Securities Act and applicable
state securities requirements or pursuant to exemptions therefrom.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the Company's securities to,
or for the account of benefit of, persons in the United States or
U.S. Persons.
Forward Looking Information
This news release contains “forward-looking
information” within the meaning of applicable Canadian securities
legislation. All statements in this news release, other than
statements of historical fact, that address events or developments
that Giyani expects to occur, are “forward-looking statements”.
Forward-looking statements are statements that are not historical
facts and are generally, but not always, identified by the words
“expects”, “does not expect”, “plans”, “anticipates”, “does not
anticipate”, “believes”, “intends”, “estimates”, “projects”,
“potential”, “scheduled”, “forecast”, “budget” and similar
expressions, or that events or conditions “will”, “would”, “may”,
“could”, “should” or “might” occur.
All such forward-looking statements are based on
the opinions and estimates of the relevant management as of the
date such statements are made and are subject to certain
assumptions, important risk factors and uncertainties, many of
which are beyond Giyani's ability to control or predict.
Forward-looking statements are necessarily based on estimates and
assumptions that are inherently subject to known and unknown risks,
uncertainties and other factors that may cause actual results,
level of activity, performance or achievements to be materially
different from those expressed or implied by such forward-looking
statements. In the case of Giyani, these facts include their
anticipated DFS, operations in future periods, planned exploration
and development of its properties, production of product from its
Demo Plant in Q4 2024, and plans related to its business and other
matters that may occur in the future. This information relates to
analyses and other information that is based on expectations of
future performance and planned work programs.
Forward-looking information is subject to a
variety of known and unknown risks, uncertainties and other factors
which could cause actual events or results to differ from those
expressed or implied by the forward-looking information, including,
without limitation: inherent exploration hazards and risks; risks
related to exploration and development of natural resource
properties; uncertainty in Giyani's ability to obtain funding;
commodity price fluctuations; recent market events and conditions;
risks related to the uncertainty of mineral resource calculations
and the inclusion of Inferred Mineral Resources in economic
estimation; risks related to governmental regulations; risks
related to obtaining necessary licences and permits; risks related
to their business being subject to environmental laws and
regulations; risks related to their mineral properties being
subject to prior unregistered agreements, transfers, or claims and
other defects in title; risks relating to competition from larger
companies with greater financial and technical resources; risks
relating to the inability to meet financial obligations under
agreements to which they are a party; ability to recruit and retain
qualified personnel; and risks related to their directors and
officers becoming associated with other natural resource companies
which may give rise to conflicts of interests. This list is not
exhaustive of the factors that may affect Giyani's forward-looking
information. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those described in the
forward-looking information or statements.
Giyani's forward-looking information is based on
the reasonable beliefs, expectations and opinions of their
respective management on the date the statements are made, and
Giyani does not assume any obligation to update forward looking
information if circumstances or management's beliefs, expectations
or opinions change, except as required by law. For the reasons set
forth above, investors should not place undue reliance on
forward-looking information. For a complete discussion with respect
to Giyani and risks associated with forward-looking information and
forward-looking statements, please refer to Giyani's Annual
Information Form, all of which are filed on SEDAR+ at
www.sedarplus.ca.
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