Martin Kepman, CEO of Manganese Says - The PEA represents the
most significant milestone to date for Manganese X and makes us the
forerunner of becoming the first publicly traded company in Canada
and the US to commercialize high-purity electric vehicle (EV)
quality compliant manganese.
Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC) (OTCQB:
MNXXF) ("Manganese X", "MN", or the
"Company") is very pleased to announce positive
results from the independent Preliminary Economic Assessment
("PEA") for its wholly owned Battery Hill project (the "Project")
located near Woodstock, New Brunswick. The PEA was prepared by Wood
Canada Ltd. ("Wood"), an independent engineering services group
with extensive experience in mining and mineral processing.
Entire PEA report is now available on at:
https://news.manganesexenergycorp.com/manganese-x-energy-announces-positive-pea-for-its-battery-hill-project-after-tax-npv-10-of-486m-us-and-irr-of-25_269363.html
PEA Highlights:
- Robust Economics
- HPMSM Market Price
- Price Sensitivity
- Long Mine Life
- Low Environmental Impact
- Project Objectives
- Sensitivity Analysis
CEO Report
Martin Kepman, CEO of Manganese X, states, "We are extremely
pleased with the positive economics demonstrated by our PEA.
Our Battery Hill Mineral Resource has the potential to be the
most impressive manganese properties in North America and has
several attributes that make it attractive for development and
commercialization. Battery Hill has robust economics, strong value
metrics and a short payback period for a relatively low capital
investment.
The PEA represents the most significant milestone to date for
Manganese X and makes us the forerunner of becoming the first
publicly traded company in Canada and the US to commercialize
high-purity electric vehicle (EV) quality compliant manganese.”
Manganese Futurist Martin Kepman, also commented on the
proprietary extraction process that makes the project Manganese X
justify a premium to the market price.
Furthermore, Martin Kepman stated, "The Company has been working
diligently on corporate development beyond the PEA and is currently
in discussion with a number of interested parties as it relates to
battery chemistry and the EV revolution.”
Get to Know Manganese X Energy Corp.
Manganese X's mission is to advance its Battery Hill project
into production, with the intent of supplying value-added materials
to the lithium-ion battery and other alternative energy industries.
The Company is also striving to achieve new environment-friendly
more efficient methodologies, while processing manganese at a lower
competitive cost. The company is the only publicly traded manganese
company in North America moving rapidly toward commercialization of
a manganese deposit.
Subsidiary Disruptive Battery Corp.'s mission is to develop an
HVAC (heating, ventilation and air conditioning) air purification
delivery system for cleaner and healthier air, aiming to mitigate
COVID-19 and other contaminants on surfaces and in the air. For
more information visit the website at
www.manganesexenergycorp.com.
Download PEA Report Using QRCODE
Download PEA Report by Manganese X Energy
On behalf of the Board of Directors of
MANGANESE X ENERGY CORP.
Martin Kepman
CEO and Director
Email: martin@kepman.com
Tel: 1-514-802-1814
Cautionary Note Regarding Forward-Looking
Information:
This press release contains certain information that may
constitute "forward-looking information" under applicable Canadian
provincial securities legislation. Forward-looking information
includes, but is not limited to, the results of the PEA, including
statements relating to net present value, future production, future
development and commercialization, estimates of cash cost, proposed
mining plans and methods, cash flow forecasts, HPMSM recoveries,
timing for permitting and environmental assessments, ability to
acquire surface rights at a reasonable cost, realization of Mineral
Resource estimates, capital and operating cost estimates, project
and life of mine estimates, ability to obtain permitting by the
time targeted, the timing and amount of estimated future production
, exploration expenditures and potential upside and alternatives,
the viability and efficacy of Manganese X's proprietary extraction
process, including its ability to produce a superior manganese
product, and its suitability for use in battery manufacturing.
Readers should not place undue reliance on forward-looking
statements.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Manganese X to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. The PEA
results are estimates only and are based on a number of
assumptions, any of which, if incorrect, could materially change
the projected outcome. There are no assurances that the Project
will be placed into production. Factors that could affect the
outcome include, among others: the actual results of development
activities; project delays; inability to raise the funds necessary
to complete development; general business, economic, competitive,
political and social uncertainties; future prices of HPMSM or
project costs could differ substantially and make any
commercialization uneconomic; availability of alternative manganese
sources or substitutes; actual manganese recovery; conclusions of
economic evaluations; changes in project parameters as plans
continue to be refined; accidents, labour disputes, the
availability and productivity of skilled labour and other risks of
the mining industry; political instability, terrorism, insurrection
or war; delays in obtaining governmental approvals, necessary
permitting or in the completion of development or construction
activities; Mineral Resource estimates relating to the Project
could prove to be inaccurate for any reason whatsoever; additional
but currently unforeseen work may be required to advance to the
feasibility stage; even if the Project goes into production, there
is no assurance that operations will be profitable; and risks
related to the interpretation of the gross metal royalty ("GMR")
set forth in the Company's option agreement dated April 22 2016
with Globex Mining Enterprises Inc. (the "Option Agreement",
including with respect to: (i) the brevity and potential challenges
the Company and other parties may face in regard to interpreting
the terms of the GMR; (ii) determination of the reference prices
that are to be used to value the metals and products that are
produced from the Project; and (iii) the stage of production in the
processing and value chain of deliverable metals within a
production facility whereby the GMR becomes payable, all of which
could have a significant impact on the determination of the GMR
payable by the Company. The Option Agreement has not been the
subject of any litigation to date and accordingly no findings or
decisions have been made by any court or arbitrator regarding the
specific interpretation of the Option Agreement.
Although Manganese X has attempted to identify important factors
that could cause actual actions, events or results to differ
materially from those described in forward-looking statements,
there may be other factors that cause actions, events or results to
differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are made as of the date
of this news release and Manganese X disclaims any obligation to
update any forward-looking statements, whether as a result of new
information, future events or results or otherwise, except as
required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined by the TSX Venture Exchange)
accept responsibility for the adequacy or accuracy of this
release.
###
Via KISSPR.com Press Release
Distribution Service - Media Contact:
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