Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) ("Giyani" or the
"Company") is pleased to announce the appointment of Mr. Omar
Gonzalez as Chief Financial Officer (“CFO”), effective November 17,
2020. In addition, the Company announces the successful renewal of
prospecting licence (258/2017) in Botswana (“Renewed Prospecting
Licence”). Also today, the Company announces the filing of its
unaudited financial results for the three and nine-month period
ended September 30, 2020, including development highlights from the
K.Hill manganese project (“K.Hill”), in Botswana.
Executive
Appointments
Mr. Gonzalez’s appointment follows the
resignation of the Company’s former CFO, Mr. Aamer Siddiqui who
resigned to pursue other business opportunities. Mr. Gonzalez is a
senior employee of Marrelli Support Services Inc. (“Marrelli
Services”). Marrelli Services provides the Company with CFO and
accounting services.
Renewal of Prospecting
Licence
Giyani’s wholly owned Botswana subsidiary, Menzi
Battery Metals (Pty) Ltd (“Menzi”), was granted the Renewed
Prospecting Licence by the Department of Mines on November 13,
2020. The Renewed Prospecting Licence relates to the Company’s
Lobatse prospect.
K.Hill, Giyani’s flagship project and the Otse
prospect licences were renewed in June this year, as announced on
June 26, 2020. The Renewed Prospecting Licence has been granted for
a term of 2 years, ending on December 31, 2022.
The Lobatse prospect has a similar geology to
that of K.Hill, with a near-surface, stratiform manganese
mineralisation hosted in a siliceous shale/sandstone. Lobatse is
located near the South African border, 45km from K.Hill and is
within trucking distance of K.Hill.
All of the Company’s Menzi’s prospecting
licences have been renewed and represent a total licence area of
2,588km2 as detailed in the following table:
Menzi’s Current
Licences
PL Number |
Licence Area
(km2) |
District |
Expiry Date |
PL258/2017 |
95 |
South East District |
December 31, 2022 |
PL294/2016 |
479 |
South East District |
June 30, 2022 |
PL297/2016 |
483 |
Southern District |
June 30, 2022 |
PL298/2016 |
479 |
South East District |
June 30, 2022 |
PL322/2016 |
438 |
Southern District |
June 30, 2022 |
PL336/2016 |
118 |
Southern District |
June 30, 2022 |
PL337/2016 |
144 |
Southern District |
June 30, 2022 |
PL338/2016 |
127 |
Southern District |
June 30, 2022 |
PL339/2016 |
77 |
Southern District |
June 30, 2022 |
PL340/2016 |
148 |
Southern District |
June 30, 2022 |
Robin Birchall, CEO of Giyani Metals
Corp. commented:
“We welcome Omar to the Giyani team and thank
Aamer for his prior services.
I am delighted by the renewal of our Lobatse
licence which completes the renewal of all of our licences in
Botswana. The K.Hill Feasibility Study is progressing well and this
renewal by the Government of Botswana represents a vote of
confidence in the Company and its ability to continue its
exploration and development program across the licences.”
Q3 2020 Interim Financial
Results Filed on SEDAR
For complete details of the unaudited Interim
Consolidated Financial Statements and associated Management’s
Discussion and Analysis please refer to the Company’s filings on
SEDAR (www.sedar.com) or the Company’s website
(www.giyanimetals.com).
Q3 2020 and Subsequent to Quarter End
Highlights
- Appointment of
non-executive directors to Botswana
subsidiary: on July 6, 2020, the Company
announced the appointment of Mr. Thuso Dikgaka and Ms. Maureen
Mokgautsane as non-executive directors to the board of Menzi.
- ESIA Submission to
DEA: on August 26, 2020, the Company announced the initial
submission of the K.Hill Scoping and Terms of Reference (“SToR”) to
the Botswana Department of Environmental Affairs (“DEA”).
Subsequently, on October 26, 2020 the Company submitted its
response to the DEA’s comments on the SToR.
- Positive Results of the
Processing Trade-off Study: on September 3, 2020, the
Company announced that as part of the ongoing feasibility study
(“FS”) work, a processing trade-off study was completed for its
K.Hill project the results of the study showed that the sulphur
dioxide based process is the optimal route and will be used in the
FS. The change in the reductant process means that the Company has
reduced the project’s process risk without any material increase in
capital or operating costs. In addition, Tetra Tech, together with
Royal IHC will be including the high purity manganese sulphate
monohydrate (“HPMSM”) as an additional product stream into the FS
and the updated preliminary economic assessment (“PEA”) expected in
first half of 2021.
- Closed Private
Placement: On September 18, 2020, the Company completed a
partially brokered private placement financing. The private
placement was upsized on September 11, 2020 and fully subscribed
and comprised of 9,600,000 units at a price of $0.125 per unit for
gross proceeds of $1.2 million.
- Commenced 2020 Field
Program at K.Hill: on September 21, 2020 the Company
announced as part of the FS, the start of the 2020 field program
that consists of (i) and infill drilling program intended to
upgrade existing resources into the indicated resource category;
(ii) geotechnical study to determine geotechnical parameters for
the open-pit mine design; and (iii) geophysical study to assist
with greater definition of the resource estimation. Subsequently,
on November 2, 2020 the Company announced the commencement of the
drilling program.
- Life
Cycle Assessment Study including Carbon Footprint
Evaluation: on October 2, 2020, in parallel to the ongoing
FS and environmental and social impact assessment workstreams, the
Company announced the appointment of Minviro, a UK based and
globally recognized sustainability and life cycle assessment
(“LCA”) consultant, to provide an International Organization for
Standardization compliant LCA, benchmarked against that of the
Company’s peer. Minviro’s work will also help to evaluate
opportunities for the Company to achieve a low carbon
footprint.
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 CorporationRobin
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.www.giyanimetals.com
TSXV:EMM
Giyani Metals (TSXV:EMM)
Historical Stock Chart
From Jul 2024 to Aug 2024
Giyani Metals (TSXV:EMM)
Historical Stock Chart
From Aug 2023 to Aug 2024