Euro Manganese Confirms Arrival of all Demonstration Plant Modules at Site
VANCOUVER, Sept. 06, 2022 - 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 James
President & CEO
+44 (0)747 229 6688
Louise Burgess
Senior Director, Investor Relations & Communications
+1 (604) 312-7546
lburgess@mn25.ca
Company Address: #709 -700 West Pender St., Vancouver, British Columbia, Canada, V6C 1G8
Website: 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.
