Euro Manganese Announces Successful Completion of Demonstration Plant Continuous Operation Program
October 16 2024 - 8:30PM
UK Regulatory
Euro Manganese Announces Successful Completion of Demonstration
Plant Continuous Operation Program
VANCOUVER, British Columbia, Oct. 16, 2024
(GLOBE NEWSWIRE) -- Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQB:
EUMNF; Frankfurt: E06) (the “Company” or “EMN”) is pleased to
announce the on-site Demonstration Plant successfully completed a
5-day continuous operation program for the production of
high-purity electrolytic manganese metal at the Company’s
Chvaletice Manganese Project (“Chvaletice” or the “Project”) in the
Czech Republic. The Demonstration Plant achieved key technical
targets which form part of the necessary conditions for accessing
the next draw-down from the Orion financing package announced on
November 28, 2023.
Highlights
- The
Demonstration Plant hosts six of the main process stages of the
Project’s metallurgical flowsheet. The electrowinning stage can be
operated on a continuous basis with the qualified solution
feedstock provided from the leaching and purification process
stage. The electrowinning process produces selenium-free,
high-purity electrolytic manganese metal (“HPEMM”) flakes (99.9%
Mn). The other key process stages operate on a batch basis and
include: ore to slurry preparation; beneficiation via magnetic
separation to produce an ore concentrate; leaching and purification
of concentrate; control and removal of magnesium; and HPEMM
dissolution, purification, drying and crystallization to produce
high-purity manganese sulphate monohydrate (“HPMSM”) product
(>99.9% HPMSM).
- From October 7
to October 12, 2024, the qualified solution preparation and
electrowinning module undertook a 24-hour-a-day, 5-day continuous
operation program, with a target of producing a minimum of 132
kg HPEMM, with no more than 8 hours stoppage time. The purification
step was run on batch basis to provide sufficient feedstock.
- The
Demonstration Plant operated as-designed and without interruption,
achieving 100% reliability over the 5-day program (i.e. no stoppage
time). Overall, 172 kg of HPEMM was produced, exceeding target
production by over 30%.
Dr. Matthew James, President & CEO
of Euro Manganese, commented:
“The successful completion of 120 hours of
continuous operations while exceeding target production by 30% is
another important technical milestone, and is a testament to the
operations team’s knowledge, skill and operating discipline. This
key step enhances our technological maturity. With the only new
high-purity manganese project outside China to have a fully
operational Demonstration Plant, the Chvaletice Project and Euro
Manganese are positioned to benefit significantly from the growing
demand for high-purity manganese as battery chemistries move to
lower cost, higher manganese formulations.”
About Euro Manganese
Euro Manganese is a battery materials company
focused on becoming a leading, competitive, and environmentally
superior producer of high-purity manganese for the electric vehicle
industry and other high-technology applications. The Company is
advancing development of the Chvaletice Manganese Project in the
Czech Republic, which is a unique waste-to-value recycling and
remediation opportunity involving refining old tailings from a
decommissioned mine. The Chvaletice project is the only sizable
resource of manganese in Europe, strategically positioning the
Company to provide battery supply chains with critical raw
materials to support the global shift to a circular, low-carbon
economy.
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.
Enquiries
Dr. Matthew James
President & CEO
mjames@mn25.ca
|
LodeRock Advisors
Neil Weber
Investor and Media Relations – North America
+1 (647) 222-0574
neil.weber@loderockadvisors.com |
Jane Morgan Management
Jane Morgan
Investor and Media Relations - Australia
+61 (0) 405 555 618
jm@janemorganmanagement.com.au |
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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, 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.
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.
Such forward-looking information or statements
also include, but are not limited to, statements regarding the
Company’s intentions regarding the development of the Chvaletice
Project, its ability to produce high-purity manganese products, and
the potential to benefit from any projected demand for high-purity
manganese or changes in battery chemistries.
All forward-looking statements are made based on
the Company's current beliefs including various assumptions made by
the Company, including that the Chvaletice Project will be
developed and operate as planned, that the demonstration plant will
continue to operate successfully, and that the Company will obtain
sufficient financing. Factors that could cause actual results or
events to differ materially from current expectations include,
among other things: insufficient working capital; lack of
availability of financing for developing and advancing the
Chvaletice Project; risks related to granting security; the
inability to develop adequate processing capacity; the potential
for unknown or unexpected events to cause contractual conditions to
not be satisfied; developments in EV (Electric Vehicles) battery
markets and chemistries; risks related to fluctuations in currency
exchange rates; and regulation and changes in laws 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, 2023, available
on the Company's SEDAR+ profile at www.sedarplus.ca.
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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