The Company is methodically fulfilling its mission to become the first publicly traded mining Company in
Martin Kepman, CEO of Manganese X, states:
Experts are predicting that starting next year there will be a shortage of high purity manganese. This shortage will continue and, by 2030, with electric vehicles gaining greater market share, high-purity manganese demand should increase 10-fold. This demand would represent a forecast deficit of needed production of high purity manganese exceeding supply by many times.
Major international EV and cathode makers, as well as Canadian Federal/Provincial government funding agencies, are now making commitments in opening major multi-faceted EV/battery production facilities in both
Manganese continues to be recognised as an integral mineral within the EV battery cathode chemistries. Manganese is very cost effective as well as having the qualities that have the potential to improve density, capacity, rechargeability, safety and battery longevity to achieve the holy grail of 1,000 mile vehicle range.
The Company is poised to take advantage of this situation and intends to become a major supplier to the North American EV and back-up energy storage supply chain by its methodical progress towards commercial production.
Manganese X 2023 Strategies and Goals
Pilot Plant and End User Verification
Successfully complete pilot plant project managed by
These HPMSM samples from the
Demonstration Plant
Work towards financing and beginning construction of a larger capacity demonstration/processing plant in 2023 - in conjunction with the start of pre-feasibility study.
Pre-Feasibility Program
Commence in 2023's third-quarter, the pre-feasibility study ('PFS') for the advancement of the Battery Hill deposit. A PFS is fundamental to decision making, forward planning and the EIA / Mine permitting process. The PFS will maintain the current strategy of fast-tracking the development of Battery Hill. During quarters 1 & 2, the following programs will be completed or initiated in preparation for the PFS:
Infill and resource expansion drilling to maximize the Measured and Indicated resources (Qtr1) and the completion of an updated mineral resource estimate (Qtr1&2).
Environmental, social/community and geotechnical studies to commence in Qtr2.
Partnerships and Offtake Agreements
Continue negotiations with credible potential customers with a view to entering business partnerships or offtake contracts. Various potential customers have already contacted Manganese X expressing interest in its future HPMSM production.
Wholly owned subsidiary DBC's JV partner
Highlights of 2022 Activities
Manganese X Announced Positive PEA for its Battery Hill Project With After-Tax Net Present Value of
Manganese X released positive results from the independent Preliminary Economic Assessment ('PEA') for its wholly owned Battery Hill project, located near
Robust economics: After-tax net present value (NPV) using a 10-per-cent discount rate:
Long mine life: 40-year mine production life and seven years of stockpile reclaim feed; Average annual HPMSM production of 68,000 tonnes over the LOM; Average annual HPMSM production of 84,000 tonnes in the first seven years of production.
Low environmental impact: Flow sheet produces a filtered residue leach product with initial acid base accounting and non-acid-generating test results showing no acid drainage risk.
Manganese X Filed a Provisional Patent for the Processing and Purification of Manganese Sulphate
Manganese X has filed a provisional patent on the manganese purification process which produces its HPMSM.
This new modified process eliminates one of two major purification steps potentially creating important economic advantages for the process.
All contaminant levels, including calcium and magnesium, are below 100 parts per million, a crucial threshold level for battery-grade HPMSM.
High purity final product contains no selenium, considered a toxic pollutant and yet utilized by some of the existing HPMSM producers worldwide to reduce their costs of production.
Manganese X Announced and Commenced Fall Drill Program; A Key Step to Pre-Feasibility Study at Battery Hill
Manganese X commenced in December the prefeasibility study drilling program at its wholly owned Battery Hill project. The goal of the drill program is to in-fill and expand the Measured and Indicated resources in preparation for the pre-feasibility study ('PFS') by upgrading the inferred category resource included in the Preliminary Economic Assessment ('PEA') mine plan. The program will include an estimated 35 NQ drillholes totaling approximately 4,000 metres.
Manganese X Commenced Pilot Plant for
Manganese X commenced its high-purity manganese sulphate monohydrate (HPMSM) pilot plant at
The pilot plant is designed to demonstrate and validate, at pilot scale, Manganese X's innovative patent-pending process to produce HPMSM, EV-compliant materials suitable for cathode manufacturing.
Manganese X is Well Financed
The Company is well financed to achieve its 2023 program goals.
Manganese X announced in
Warrant Extension
The Company also announces that it intends to extend the expiry date of an aggregate of 3,958,212 share purchase warrants (the 'Warrants') by 24 months to
The Warrants were issued pursuant to a private placement which closed on
About
Manganese X's mission is to advance its Battery Hill project into production, thereby becoming the first public actively traded manganese mining company in
Contact:
Martin Kepman
CEO and Director
Email: martin@kepman.com
Tel: 1-514-802-1814
Neither
Cautionary Note Regarding Forward-Looking Statements:
This news release contains 'forward-looking information' including statements with respect to the future exploration performance of the Company. This forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements of the Company, expressed or implied by such forward-looking statements. These risks, as well as others, are disclosed within the Company's filing on SEDAR (www.sedar.com), which investors are encouraged to review prior to any transaction involving the securities of the Company.
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