Manganese
X (MN.V)
goes ballistic: is it Tesla's (TSLA.Q) 'Battery Day'? Bull-board
pundits tear out their hair
September 14, 2020
the shares of
Manganese X (MN.V) gained 82%, jumping
from .28 to .51 on 1.7 million shares traded. By the end of the
trading day, MN had a market cap of $40 million.
Note: by 8:30 Tuesday
September 15 8:30 a.m. Vancouver time, MN is up another 21% to .62
on 1.8 million shares traded. Usually, when a stock surges
violently (up or down), the catalyzing event is not hard to
identify.
Bonanza
drill results, FDA approval, robust financials, buy-out
rumours…etc.
Yesterday, there
was no news so the bull-board pundits poured into the information
vacuum, trying to explain the cause of the share-price
surge.
"Why
would this stock steadily and slowly climb, followed by the sudden
surge upward today, right after an 8 cent PP?,"
asked Kdog1CA on
Stockhouse, "Can it be
strictly FOMO [Fear Of Missing Out]? Maybe…but we could also be
sitting on a hidden treasure at Battery Hill with the full story
yet to be told."
"Anonymous has been
buying… they need to stay incognito," wrote
@scrappydoo on CEO.CA, "TSXV
must be thinking halt pretty soon here. They'll want the company to
respond to a 75% price surge."
"It is
not retail that is driving the SP upwards nor is it CEO readers,"
posted
@deepstate, "It is
institutional buyers that are trying their hardest to accumulate
before Battery Day. The problem for them is that no one is
selling."
CEO.CA
has a lot of
smart, dialed-in members.
If you
scroll up on the CEO.CA Manganese X bull-board, you'll find one
member of the community who smelled the future.
"I have
been buying shares in Manganese X Energy (MN.V) (MNXXF) recently on
hype of Tesla's upcoming battery day on September 22,"
revealed
@Rougetrader719 a week
ago.
"As
electric vehicle companies move away from expensive cobalt as an
input to their battery," continued
@Rougetrader719, "Nickel is seen
as the prime victor in an NMC (nickel-manganese-cobalt) battery.
Cobalt is over $30,000 per tonne
and
nickel ranges between one-third and one-half of that price. But the
third component of that trio – manganese – is priced at less than
one-tenth of cobalt. If the prime motivation of EV car producers
like Tesla is to get the cost of the batteries down in order to
make more affordable vehicles, manganese is the way to get
there."
"Manganese is
beginning to play a critical
role in the evolution of
new off-grid power storage systems, and cutting edge solar energy
(storage) technologies," reported
Equity Guru's Greg Nolan two weeks ago when MN stock could
be purchased for .20.
"This
brittle, silvery-gray metal was recently added to a list of
23 elements critical to the US economy," continued Nolan,
"Manganese X appears to hold significant tonnage potential in the
subsurface layers of its 1,228-hectare flagship
Battery Hill Project in mining-friendly
New Brunswick."
On
September 14, 2020 – two hours after the market
closed,
Manganese X put out a press release.
"Manganese X is
pleased to announce that it has completed the tendering of drill
contracts related to the upcoming drill program at the Battery Hill
project located near Woodstock, New Brunswick.
The program is expected to commence within the next three
weeks.
Previous holes
intercepted significant grades and widths of manganese
mineralization such as 10.75% Mn over 52.6 meters (core length),
12.96% Mn over 32.85 meters (core length) and 9.39% Mn over 74.0
meters.
The
upcoming drill program will consist of approximated 20 holes
totaling a minimum of 3,000 meters. The
intent of the program is to upgrade the current classification of
mineralization to inferred or higher resource status. The program
will focus on near surface, higher grade areas of the deposit such
as the Moody Hill zones.
Upon
successful completion of the drill program and ongoing
metallurgical studies recommended in the June 2020 NI 43-101
technical report, work will be initiated toward the completion of a
preliminary economic assessment (PEA)'.
"We are
excited to get the drills turning so we can prove out our manganese
asset that borders the US," stated Martin Kepman, CEO of Manganese
X Energy, "Companies like Tesla have indicated they want to source
battery material from the North American supply chain and we intend
to be part of it."
"One of
Earth's most abundant metals, MANGANESE could help replace
expensive cobalt in battery cathodes,"
wrote Stocklover83.
"The
demand for energy storage is too great for one technology to
fulfill it, so we're looking for environmentally friendly, safe,
inexpensive alternatives," said Jason Croy,
a physicist in Argonne's Chemical Sciences and Engineering
division. "Manganese is a good option for that."
"Float
is 56 million shares," observed
@scrappydoo, "and 50 million
of them won't sell at any price right now."
Full
Disclosure: Manganese X is an Equity Guru marketing
client.
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