Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQX: EUMNF; Frankfurt:
E06) (the "
Company" or "
EMN") is
pleased to confirm that the two shipments, comprising 12 containers
and including all modules of the Demonstration Plant, have now
arrived at the Chvaletice Project site in the Czech Republic.
Modules are now being unpacked and placed in
position within the two fully-refurbished buildings. Commissioning
of the Demonstration Plant, including cold, hot and performance
testing, will commence once all modules and ancillary equipment are
in place, inspected and connected. The Demonstration Plant is
expected to be in full operation and producing to customer
specifications by the end of 2022.
The Demonstration Plant is designed to produce
larger-scale product samples to be used for customer supply chain
qualification of Euro Manganese’s high-purity manganese products
(HPEMM and HPMSM). It will also enable process optimization and
serve as a training facility. The Demonstration Plant is expected
to operate for up to three years and will be available for testing
of potential additional feedstock for the commercial Chvaletice
plant, as well as testing production of potential alternative
manganese end products requested by the market.
The Company estimates that the cost of the
Demonstration Plant, including fabrication, delivery,
commissioning, laboratory set-up and an operator training program,
as well as the cost of operation for one year, will be
approximately US$5.8 million, of which US$3.1 million has already
been paid.
Dr. Matthew James, Euro
Manganese’s President and CEO, commented:
“The arrival and installation of the
Demonstration Plant is another important milestone for the
Chvaletice Manganese Project. It is also testament to the tenacity
of our team, who successfully navigated several challenges with the
manufacturing and delivery of the Demonstration Plant, including
the inability to travel to China during COVID, a re-routing of the
shipping as a result of the Russia-Ukraine conflict, and industrial
action at Hamburg port. Once all modules are inspected and
connected to services, the commissioning process will commence.
“We have orders for the Demonstration Plant
samples and the plant also provides prospective customers the
opportunity to visit the site and witness firsthand the supply
security, traceability, and high-quality nature of Chvaletice’s
battery-grade manganese products.”
About Euro Manganese Inc.
Euro Manganese Inc. is a battery materials
company focused on becoming a leading, competitive, and
environmentally superior producer of high-purity manganese for the
electric vehicle (EV) industry and other high-technology
applications. The Company is advancing development of the
Chvaletice Manganese Project in the Czech Republic, which is a
unique waste-to-value recycling and remediation opportunity
involving reprocessing old tailings from a decommissioned mine. The
Chvaletice Project is the only sizable resource of manganese in the
European Union, strategically positioning the Company to provide
battery supply chains with critical raw materials to support the
global shift to a circular, low-carbon economy.
Authorized for release by the CEO of Euro
Manganese Inc.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) or the ASX accepts responsibility for the
adequacy or accuracy of this release.
Inquiries
Dr. Matthew JamesPresident & CEO+44 (0)747
229 6688
Louise BurgessSenior Director, Investor
Relations & Communications+1 (604) 312-7546lburgess@mn25.ca
Company Address: #709 -700 West Pender St.,
Vancouver, British Columbia, Canada, V6C
1G8Website: www.mn25.ca
Forward-Looking Statements
Certain statements in this news release
constitute “forward-looking statements” or “forward-looking
information” within the meaning of applicable securities laws. Such
statements and information involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of the Company or the Project to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements or information. Such statements can be identified by the
use of words such as “may”, “would”, “could”, “will”, “intend”,
“expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”,
“forecast”, “predict” and other similar terminology, or state that
certain actions, events or results “may”, “could”, “would”, “might”
or “will” be taken, occur or be achieved.
Such forward-looking information or statements
relate to future events or future performance about the Company and
its business and operations, which include, among other things, the
Company's ability to successfully commission and operate the
demonstration plant within the Company’s cost estimate, the
Company’s ability to provide samples to prospective customers in
the time frames estimated, the timeframe the Company expects the
demonstration plan to operate, and other statements with respect to
the continued development of the Chvaletice Manganese Project.
Readers are cautioned not to place undue
reliance on forward-looking information or statements.
Forward-looking statements and information involve significant
risks and uncertainties, should not be read as guarantees of future
performance or results and will not necessarily be accurate
indicators of whether or not such results will be achieved. A
number of factors could cause actual results to differ materially
from the results discussed in the forward-looking statements or
information, including, but not limited to, risks related to delay
of assembly and commissioning of the demonstration plant,
availability and productivity of skilled labour to operate the
demonstration plant, unforeseen technical and engineering problems,
risks related to inflation, and other factors discussed under
“Risks Notice” and elsewhere in the Company’s MD&A for the year
ended September 30, 2021 and its most recent Annual Information
Form.
The forward-looking statements contained in this
news release are made as of the date hereof and are expressly
qualified in their entirety by this cautionary statement. Subject
to applicable securities laws, the Company does not assume any
obligation to update or revise the forward-looking statements
contained herein to reflect events or circumstances occurring after
the date of this news release.
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