Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8)
("
Giyani" or the "
Company") is
encouraged by the endorsement of high purity manganese as a
critical component of cathode chemistries discussed during the
Tesla Battery Day, held on September 22, 2020.
The following points we believe are positive for
the high purity manganese market.
- Tesla Inc.
(“Tesla”) announced that the cathode chemistry for their
intermediate range vehicles and non-industrial stationary storage
units will contain one-third (33%) manganese. This was the first
time Tesla referred to the manganese content in its battery
chemistries. This is over 3 times the manganese contained in a NCM
811 cell, which Benchmark Mineral Intelligence anticipates will be
one of the market leading cathode chemistries by 2030.
- Expectations
for Tesla’s future market share remain high. Elon Musk, co-founder
and CEO of Tesla stated that “longer term we want to replace at
least 1% of the total vehicle fleet on earth… which is about 20
million vehicles a year.”
- In addition to
producing its own batteries, Tesla will continue to source
batteries from the Tier 1 battery manufacturers LG Chem, Panasonic
and CATL, all of whom produce cells with manganese containing
cathodes.
- Tesla expects
that cutting the cost of battery production, measured in US$/kWh,
by 56% from current production costs, could create the opportunity
to produce a US$25,000 Electric Vehicle (EV). A contributing factor
of this cost saving is the replacement of cobalt from the cathode
with other battery elements including nickel and manganese, which
are more economical and sustainably sourced.
Robin Birchall, CEO
of Giyani Metals Corp.
commented:
"My three takeaways from the Tesla Battery Day
are no different to what we’ve learnt from the discussions we have
had with other potential end buyers to date: (1) sustainability of
the raw materials is incredibly important, (2) manganese is a
cathode material that will be used in the majority of the EV market
for at least the next decade, and (3) vehicle manufacturers are
moving further upstream to seek security of supply. The event
therefore confirms our view that there is a growing opportunity for
high purity manganese in the EV market, and that Giyani is well
positioned to benefit from this.
Tesla also shared its future plans to modify the
cathode manufacturing process to make it more economical and
sustainable. Rather than source the raw materials in sulphate form,
it plans to source the materials in powdered metal form. Currently,
cathode manufacturers source high purity manganese in both sulphate
and metal form. Giyani’s K.Hill project will be one of the very few
facilities capable of producing both high purity electrolytic
manganese metal (HPEMM), as well as high purity manganese sulphate
monohydrate (HPMSM).
Tesla is targeting 3 TWh of battery capacity
production by 2030, a substantial increase from prior targets. A
cathode made up of 33% manganese contains approximately 35-40 kg of
manganese metal per kWh. Therefore, if all 3 TWh of capacity uses
this cathode configuration, this equates to over 100,000 tonnes of
high purity manganese metal demand per annum. And this is just from
Tesla.
Tesla joins a number of other battery
manufacturers, who over the past 12 months have increased their
battery production estimates for the next decade. We expect there
to be further capacity increases across the various Tier 1 and Tier
2 battery manufacturers, and therefore expect demand for high
purity manganese to continue to increase.”
About Giyani
Giyani Metals Corp. is a mineral resource
company focused on the development of its K.Hill, Lobatse &
Otse manganese oxide projects in the Kanye Basin, Botswana, Africa.
The Company's flagship K.Hill project is a near-surface deposit
currently going through a feasibility study to produce high-purity
electrolytic manganese metal and manganese sulphate, both key
cathode ingredients for batteries in the expanding electric vehicle
(EV) market.
Additional information and corporate documents
may be found on www.sedar.com and on Giyani Metals Corp. Website:
https://giyanimetals.com/.
On behalf of the Board of Directors of
Giyani Metals Corp.
Robin Birchall, CEO
Contact:Giyani Metals Corporation
Robin BirchallCEO,
Director+447711313019rbirchall@giyanimetals.com
Thomas HortonVP, Business Development
+447866913207thorton@giyanimetals.com
Neither 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 press 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 press 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. Specific forward-looking
statements and forward-looking information herein includes
completion of the 2020 field program, geotechnical study and
geophysical study; upgrading of inferred resources to higher
categories of confidence, and the completion of the FS.
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 operations in future periods, planned exploration and
development of its properties, 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 licenses 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 financial
statements and related MD&A, all of which are filed on SEDAR at
www.sedar.com.
GIYANI METALS CORP.1155
North Service Road West, Unit 11Oakville, Ontario
L6M 3E3T:
289-291-4032www.giyanimetals.com
TSXV:EMM
Giyani Metals (TSXV:EMM)
Historical Stock Chart
From Jun 2024 to Jul 2024
Giyani Metals (TSXV:EMM)
Historical Stock Chart
From Jul 2023 to Jul 2024