Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8)
("
Giyani" or the "
Company"),
developer of the K.Hill manganese oxide project (“
K.Hill
Project”) in Botswana, is pleased to announce handover of
the process flowsheet for the K.Hill Project.
Highlights
- Design of
process flowsheet, developed by Coffey Geotechnics Ltd., a Tetra
Tech Inc. company (“Tetra Tech”), completed and
accepted by a specialist hydrometallurgical engineering firm
(“Engineering Firm”).
- The Engineering
Firm to use the process flowsheet to provide basis for the
engineering of a demonstration plant (“Demo
Plant”), capable of producing high-purity manganese
sulphate monohydrate (“HPMSM”) for testing by
potential offtakers, to be constructed during 2022.
In January 2021, the Company appointed Tetra
Tech to develop the process flowsheet to produce HPMSM directly
from Giyani’s manganese oxide ore as part of the feasibility study
on the K.Hill Project (“FS”) and to be used in the
concept design of the Demo Plant. Having overseen the metallurgical
testwork program and process flowsheet development, Tetra Tech has
completed the process flowsheet and submitted it to the Company and
the Engineering Firm.
Following a detailed review of technical
parameters and design objectives, the Engineering Firm has
confirmed acceptance of the process flowsheet as the basis for the
engineering of the Demo Plant, which is anticipated to be capable
of producing approximately 600kg per day of HPMSM crystals, used in
the manufacturing of lithium-ion battery (“LiB”)
cathodes. The Company has already placed an order for one
crystalliser unit of the Demo Plant and, following formal
engagement, the Engineering Firm will commence construction.
The Demo Plant will provide material to
potential customers for quality testing, with the first shipments
expected in 2023. The final HPMSM product will have a target
quality specification developed from discussions with a number of
the world’s largest battery makers and electric vehicle
(“EV”) companies. As the Company advances towards
first production from the Demo Plant, it has continued its
discussions with various EV and LiB manufacturers as well as
strategic international marketing groups with regard to future
offtake and potential financing options.
Robin Birchall, CEO of the Company,
commented:
“It has taken
meticulous work to get to this stage and it is very pleasing to
announce another significant milestone in our journey to becoming a
responsible, sustainable and low-carbon producer of HPMSM, a
critical material to the EV transition.
The flowsheet is the
heart of our K.Hill Project and successful handover of the design
by our specialist engineers means both the FS and the Demo Plant
have taken another major step towards completion. We have set
ourselves the goal of producing HPMSM of the highest possible
quality with the lowest possible carbon footprint and this is
reflected in the design which we have developed, but we will
continue to look to improve our process as we move towards the
production phase.
Meanwhile, the list of
LiB manufacturers and EV companies evaluating our project continues
to grow. The K.Hill Project is one of the very few new HPMSM
projects in development globally and offers buyers on all
continents the rare opportunity to secure their cathode material
supply chain with a responsible source with the added advantage of
diversifying from China as the current dominant producer.”
About Giyani
Giyani is a mineral resource company focused on
becoming one of Africa’s first low-carbon producers of high-purity
manganese sulphate precursor materials directly from manganese
oxide ore, used by battery manufacturers for the expanding EV
market, through the advancement of its manganese assets in the
Kanye Basin in south-eastern Botswana, (the “Kanye Basin
Prospects”) through its wholly-owned Botswana subsidiary
Menzi Battery Metals (Pty) Limited. The Company’s Kanye Basin
Prospects consist of 10 prospecting licences and include the past
producing Kgwakgwe Hill mine and project, referred to as the K.Hill
Project, the Otse manganese prospect and the Lobatse manganese
prospect, both of which have seen historical mining activities.
The Company is currently undertaking a
feasibility study on the K.Hill Project, following an updated
preliminary assessment report announced on April 12, 2021, with a
post-tax NPV of USD332 million and post-tax IRR of 80%, based on a
development plan to produce around 891,000 tonnes of HPMSM over a
10 year project life. An updated 43-101 technical report on the
K.Hill Project is available on www.sedar.com and on the Company’s
website at www.giyanimetals.com.
Qualified Persons / NI 43-101
Disclosures
EUR ING Andrew Carter BSc, CEng, MIMMM, MSAIMM,
SME Technical Director Coffey Geotechnics Ltd – a Tetra Tech Inc.
company, is a Qualified Person under National Instrument 43-101 and
has reviewed and approved the scientific and technical information
in this press release.
About Tetra TechTetra Tech is a
leading provider of high-end consulting and engineering services
for projects worldwide. With 20,000 associates employed, Tetra Tech
provides clear solutions to complex problems in water, environment,
infrastructure, resource management, energy, and international
development. For more information about Tetra Tech, please visit
www.tetratech.com
On behalf of the Board of Directors of Giyani
Metals Corp.
Robin Birchall, CEO
Contact:
Robin Birchall CEO, Director+44 7711
313019rbirchall@giyanimetals.com
George DonneVP
Business Development+44 7866 591 897gdonne@giyanimetals.com
Judith
WebsterCorporate Secretary +1 416 453 8818
jwebster@giyanimetals.com
Neither the TSX Venture Exchange (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 receipt of TSXV approval for the private placement
and completion of the private placement.
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 in how the world-wide economic and social impact
of COVID-19 is managed; 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 Annual
Information Form, all of which are filed on SEDAR at
www.sedar.com.
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