Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQX: EUMNF; Frankfurt:
E06) (the "Company" or "EMN") is pleased to confirm it has produced
high-purity electrolytic manganese metal ("HPEMM") from its
Demonstration Plant (the "Plant") at the Chvaletice Project (the
"Project") in the Czech Republic.
An external laboratory has confirmed the first
HPEMM sent for testing has met the Demonstration Plant target
specifications and was at 99.9% Mn metal purity. High-purity
manganese sulphate ("HPMSM") is now under production in the final
module and will be sent for external laboratory testing in due
course.
The Demonstration Plant is anticipated to
commence acceptance testing in late April. Upon successful
completion of acceptance testing, the Company will commence
deliveries of Plant HPEMM and/or HPMSM to customers. Customer
deliveries of the Company’s Demonstration Plant products is not
expected to be required for completion of offtake contracts.
Detail on Plant
Commissioning
- Commissioning of
the process flowsheet (see Figure 1 below) commenced in November
2022 on a module-by-module basis.
- The
Ore-to-Slurry and Magnetic Separation modules were commissioned
prior to the end of 2022 and successfully produced a manganese
concentrate from the Chvaletice manganese carbonate tailings.
- Commissioning of
the Leaching and Purification module commenced in January 2023 and
successfully produced a purified solution.
- This solution,
and both products from the subsequent steps (HPEMM and HPMSM), are
required to be sent to an external laboratory that has the
specialised measurement equipment required for analysis of the
low-level of impurities targeted in the Demonstration Plant
process. External laboratory turnaround times are currently 3-4
weeks, which has caused a slight delay in the commissioning
schedule.
- External
laboratory results from the Leaching and Purification module were
received in February 2023, confirming the purified solution met the
required specification.
- The
Electrowinning module successfully produced selenium-free HPEMM
flakes in March 2023. This metal was sent to an external laboratory
for testing, which has confirmed this metal was produced at 99.9%
Mn purity and at the design specification of the Demonstration
Plant.
- The final
Dissolution and Crystallization module has now commenced
commissioning and HPMSM will be sent to the external laboratory for
testing in due course. The Company will provide an update once
on-spec HPMSM is produced.
- Representatives
from the company which manufactured the Demonstration Plant are
expected to arrive on site in late April and the plant will undergo
acceptance testing. This will involve running the Plant on a
module-by-module basis to confirm each module meets the design
specification of product quality, throughput, and reagent
consumption.
Figure 1 - Chvaletice Process Flow
Sheet
Advantages of Processing via Metal
Route
The Company’s Chvaletice Project flowsheet is
designed to produce sulphate (HPMSM) via metal (HPEMM), which has
several commercial advantages:
- Guarantees
stability of HPMSM specification
- Provides
optionality:
- Metal can be
used as feedstock for new technologies like Nano One’s metal to
cathode M2CAM One-Pot Process;
- Metal can be
further processed into other derivatives of high-purity manganese,
which are currently under discussion with various potential
customers;
- Metal can be
further processed at alternate locations, close to customer plants,
reducing transports costs and potentially avoiding the costs
associated with crystallisation, drying and packaging; and
- Metal can be
sold to the specialty alloy industry.
About the Demonstration
Plant
The Demonstration Plant enables the Company to
produce bulk samples for prospective customers’ testing and
qualification. The Plant’s design capacity is 32kg per day of HPEMM
or 100kg per day of HPMSM. The Plant will enable process
optimization and testing for final product development and serve as
a testing and training facility. It is expected to operate for up
to three years and will also be available for testing of potential
additional feedstock for the commercial plant.
Dr. Matthew James, President & CEO of Euro
Manganese, commented:
“Producing high-purity electrolytic manganese
metal, HPEMM, from our Demonstration Plant is a significant
milestone and de-risks our process flow sheet. I look forward to
receiving confirmation that HPMSM produced is on-spec and
completing the commissioning process. We are eager to provide
customers with high-purity manganese from our Demonstration Plant
so they can either get started on, or continue with, their
qualification process of our products.”
About Euro Manganese
Euro Manganese is a battery materials company
focused on becoming a leading producer of high-purity manganese for
the electric vehicle industry. The Company is advancing development
of the Chvaletice Manganese Project in the Czech Republic and
exploring an early-stage opportunity to produce battery-grade
manganese products in Bécancour, Québec.
The Chvaletice Project is a unique
waste-to-value recycling and remediation opportunity involving
reprocessing old tailings from a decommissioned mine. It is also
the only sizable resource of manganese in the European Union,
strategically positioning the Company to provide battery supply
chains with critical raw materials to support the global shift to a
circular, low-carbon economy.
Euro Manganese is dual-listed on the TSXV and
the ASX, and is also traded on the OTCQX.
Qualified Person(s) Statement
The technical information in this news release
was prepared under the supervision of Ms. Andrea Zaradic, P. Eng.,
a Qualified Person under National Instrument 43-101 Standards of
Disclosure for Mineral Projects ("NI 43-101"). Ms. Zaradic
has reviewed and approved the information in this news release for
which she is responsible and has consented to the inclusion of the
matters in this news release based on the information in the form
and context in which it appears.
Authorized for release by the CEO of Euro
Manganese Inc.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) or the ASX accepts responsibility for the
adequacy or accuracy of this release.
Inquiries
Dr. Matthew JamesPresident & CEO+44 (0)747
229 6688
Louise BurgessSenior Director, Investor
Relations & Communications+1 (604) 312-7546lburgess@mn25.ca
Company Address: #709 -700 West Pender St.,
Vancouver, British Columbia, Canada, V6C
1G8Website: www.mn25.ca
Forward-Looking Statements
Certain statements in this news release
constitute “forward-looking statements” or “forward-looking
information” within the meaning of applicable securities laws. Such
statements and information involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of the Company, its Chvaletice Project,
its North American growth strategy, or industry results, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements or information. Such statements can be identified by the
use of words such as “may”, “would”, “could”, “will”, “intend”,
“expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”,
“forecast”, “predict” and other similar terminology, or state that
certain actions, events or results “may”, “could”, “would”, “might”
or “will” be taken, occur or be
achieved.
Such forward-looking information or statements
include, but are not limited to, statements regarding the Company’s
intentions regarding the development of the Chvaletice Project in
the Czech Republic, the ability of the Company to complete
commissioning of the Demonstration Plant and produce bulk samples
of on-spec HPMSM, the successful testing and qualification by
prospective customers of the Company’s products, and the Company’s
ability to enter into offtake agreements with such parties once
testing and qualification have been completed.
Readers are cautioned not to place undue
reliance on forward-looking information or statements.
Forward-looking statements are subject to a number of risks and
uncertainties that may cause the actual results of the Company to
differ materially from those discussed in the forward-looking
statements and, even if such actual results are realized or
substantially realized, there can be no assurance that they will
have the expected consequences to, or effects on, the Company.
Factors that could cause actual results or
events to differ materially from current expectations include,
among other things: the ability to develop adequate processing
capacity; the availability and reliability of equipment,
facilities, and suppliers necessary to complete development; the
cost of consumables and extraction and processing equipment; risks
and uncertainties related to the ability to obtain, amend, or
maintain necessary licenses, or permits, risks related to
acquisition of surface rights; risks and uncertainties related to
expected production rates; timing and amount of production and
total costs of production; the potential for unknown or unexpected
events to cause contractual conditions to not be satisfied; the
failure of parties to contracts with the Company to perform as
agreed; risks and uncertainties related to the accuracy of mineral
resource and reserve estimates, the price of the Company’s
high-purity manganese products, power supply sources and prices,
and diminishing quantities or grades of mineral resources and
reserves; changes in project parameters as plans continue to be
refined; risks related to global epidemics or pandemics and other
health crises; availability and productivity of skilled labour;
risks and uncertainties related to interruptions in production;
unforeseen technological and engineering problems; the adequacy of
infrastructure; risks related to project working conditions,
accidents or labour disputes; social unrest or war; the possibility
that future results will not be consistent with the Company's
expectations; risks relating to variations in the mineral content
and grade within resources from that predicted; variations in rates
of recovery and extraction; developments in EV battery markets and
chemistries; and risks related to fluctuations in currency exchange
rates, changes in laws or regulations; and regulation by various
governmental agencies. For a further discussion of risks relevant
to the Company, see "Risk Factors" in the Company's annual
information form for the year ended September 30, 2022, available
on the Company's SEDAR profile at www.sedar.com.
All forward-looking statements are made based on
the Company's current beliefs as well as various assumptions made
by the Company and information currently available to the Company.
Generally, these assumptions include, among others: the presence of
and continuity of manganese at the Chvaletice Project at estimated
grades; the ability of the Company to obtain all necessary land
access rights; the ability of the Company obtain all required
environmental and other permits; the availability of personnel,
machinery, and equipment at estimated prices, in good order, and
within estimated delivery times; currency exchange rates; manganese
sales prices and exchange rates assumed; growth in the manganese
market; appropriate discount rates applied to the cash flows in
economic analyses; tax rates and royalty rates applicable to the
proposed operations; the availability of acceptable financing for
the Chvaletice Project and for continued operations; anticipated
extraction losses and dilution; success in realizing proposed
operations in the Czech Republic and for the Company’s North
American growth strategy; and demand for the Company’s
products.
Although the forward-looking statements
contained in this news release are based upon what management of
the Company believes are reasonable assumptions, the Company cannot
assure investors that actual results will be consistent with these
forward-looking statements. These forward-looking statements are
made as of the date of this news release and are expressly
qualified in their entirety by this cautionary statement. Subject
to applicable securities laws, the Company does not assume any
obligation to update or revise the forward-looking statements
contained herein to reflect events or circumstances occurring after
the date of this news
release.
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