Giyani Metals Corp. (TSXV: EMM, GR: A2DUU8)
("
Giyani" or the "
Company"),
developer of the K.Hill battery-grade manganese project in Botswana
(“
K.Hill” or “
K.Hill Battery Manganese
Project”), is pleased to announce the filing of the
National Instrument 43-101 Technical Report Feasibility Study for
K.Hill (“
FS”) and provide an operations update.
Highlights
- Completed filing of the full FS for the K.Hill Battery
Manganese Project.
- Construction of the demonstration plant (“Demo
Plant”) progressing with agreement signed with Yokogawa
Electric Corporation (“Yokogawa”), a global
leading provider of industrial automation, test and measurement
solutions, to provide specialist process control equipment.
- Launch of new interactive corporate presentation on the VRIFY
Technology Inc. (“VRIFY”) platform.
Filing of the FS for K.Hill Battery
Manganese ProjectFollowing the announcement of the results
of the FS on November 14, 2022, which demonstrated a robust
post-tax NPV8 of US$481 million for K.Hill and a post-tax IRR in
excess of 28%, the full FS report, prepared in accordance with
National Instrument 43-101 – Standards of Disclosure for Mineral
Projects, has been filed on SEDAR at www.sedar.com and is available
to download on the Company’s website at www.giyanimetals.com.
Update on Construction of Demo
PlantConstruction of the Demo Plant, to be located
north-west of Johannesburg, South Africa, is proceeding with
engineering currently 85% complete and procurement 40% complete. As
part of the procurement package, Giyani has entered into an
agreement with Yokogawa to provide a Centum VP distributed control
system (“DCS”). The agreement forms part of a
wider commercial relationship being developed with Yokogawa to
provide advanced automation control systems to Giyani within an
attractive fixed budget package. The DCS will give the Demo Plant
greater functionality and allow better transfer of programming and
data from the Demo Plant to the commercial plant, to be built in
Botswana.
The Demo Plant will be capable of producing up to
600kg per day of high purity manganese sulphate monohydrate
(“HPMSM”) crystals and the Company is on track to
ship samples to potential off-takers in H2 2023.
New VRIFY Corporate
PresentationThe Company has launched its new corporate
presentation using VRIFY’s interactive platform. The interactive
presentation contains 3D models and 360-degree virtual imagery of
both Giyani’s manganese assets and the Demo Plant.
Access to the new presentation can be found through
the Company's corporate website and on VRIFY’s website at the
following link
(https://vrify.com/companies/giyani-metals-corp).
Jonathan Henry, Executive Chair of the
Company, commented:“We continue to make significant
progress towards our objective of becoming a premier, low-carbon
supplier of a critical battery raw material to the electric vehicle
market. As we advance towards the construction of what will be one
of the largest HPMSM projects globally, we are pleased to be
working in partnership with high-end technical and commercial
providers such as Yokogawa. Attracting these quality partners
provides us with state-of-the-art technology as well as the
potential for both capital and operating cost benefits both for the
Demo Plant and the commercial scale project we are planning to
build in Botswana. With our FS completed and our Demo Plant on
track for production next year, we are looking forward to a pivotal
2023.”
About Giyani
Giyani is a mineral resource company focused on
becoming one of Africa’s first low-carbon producers of high-purity
manganese sulphate monohydrate precursor materials directly from
manganese oxide ore, used by battery manufacturers for the
expanding electric vehicle 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 eight prospecting
licences and include the past producing Kgwakgwe Hill mine and
project, referred to as the K.Hill Battery Manganese Project, the
Otse and Lobatse manganese prospects, both of which have seen
historical mining activities.
Qualified Persons / NI 43-101 Disclosures
Mr. Jacques du Toit CEng. PrEng. MscEng. PMP is a qualified
person, as defined by National Instrument 43-101. Mr. du Toit is
the Company’s VP, Technical Services and has reviewed and approved
the scientific and technical content contained in this press
release but is not independent for the purposes of NI 43-101.
About Yokogawa
Yokogawa provides advanced solutions in the areas
of measurement, control, and information to customers across a
broad range of industries, including energy, chemicals, materials,
pharmaceuticals, and food. Yokogawa addresses customer issues
regarding the optimization of production, assets, and the supply
chain with the effective application of digital technologies,
enabling the transition to autonomous operations. Founded in Tokyo
in 1915, Yokogawa continues to work toward a sustainable society
through its 17,000+ employees in a global network of 122 companies
spanning 61 countries. For more information, visit
www.yokogawa.com.
The names of corporations, organizations, products,
services and logos herein are either registered trademarks or
trademarks of Yokogawa Electric Corporation or their respective
holders.
About Vrify
VRIFY's technology communicates a company's value
with presentation tools that simplify information and translate
tough to digest data into compelling content. The platform allows
companies to showcase project data with interactive 3D models, host
global site visits of remote assets with virtual tours, and present
content to any device, anytime, anywhere in the world. For more
information visit www.vrify.com
On behalf of the Board of Directors of Giyani
Metals Corp.
Jonathan Henry, Executive Chair
Contact:
Jonathan Henry Executive Chair+44 7798 801
783jhenry@giyanimetals.com
George DonneVP Business Development+44 7866 591
897gdonne@giyanimetals.com
Judith WebsterCorporate Secretary+1 416 453
8818jwebster@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 licences 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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