Euro Manganese Appoints Bacchus Capital Advisers and Provides Demonstration Plant Strategy Update
Bacchus Capital Advisers appointed as Euro Manganese’s financial adviser.
Update on ongoing discussions with potential customers regarding qualification of high purity manganese products from the proposed Chvaletice demonstration plant.
Euro Manganese Inc. (TSX-V / ASX: EMN) (the "Company" or "EMN") is please to report as follows:
Financial Adviser Appointment
Euro Manganese has appointed Bacchus Capital Advisers (“Bacchus Capital” or “BCA”) as its lead strategic and financial adviser, to provide support to the Company’s management and board of directors, as it advances with the financing and development of the Chvaletice Manganese Project, including the proposed Chvaletice demonstration plant. BCA will deliver tactical and strategic advisory services, including assistance with offtake arrangements and financing, leveraging its extensive international investor and industry network.
Bacchus Capital is a London-based independent investment and merchant banking boutique. The Bacchus Capital team members have been involved in building some of the world’s most successful mining companies from the earliest stages and have played a key role in many of the metals and mining industry’s most significant transactions in recent decades.
Peter Bacchus, Chairman and Chief Executive of BCA said: “BCA is looking forward to working alongside EMN as it progresses its Chvaletice Manganese Project. Not only is the Chvaletice deposit unusually wellsuited to low-cost leaching to produce an ultra-high-quality product, but as a tailings rehabilitation project it has significant environmental advantages over conventional mining operations. Set against a backdrop of strong forecast growth for European battery manufacturing and led by a management team that can deliver, we believe Chvaletice will become an important strategic source of high-purity manganese.”
Marco Romero, President and CEO of EMN added: “The appointment of Bacchus Capital Advisers represents an important step in Euro Manganese’s corporate and financial development. BCA’s team has an unrivalled track record and reputation for successful financial mandate execution. The depth and breadth of their experience in navigating global capital markets, while building important resource companies, is remarkable. Their knowledge of the battery raw materials sector will greatly assist our collaboration. We look forward to working with BCA.”
Update on Strategy Related to the Chvaletice Demonstration Plant
Key prospective customers have expressed interest in securing long-term supply of high-purity manganese products from the Chvaletice Manganese Project and in testing the products of the proposed Chvaletice Demonstration Plant (“DP”). These Customers have included manufacturers of electric vehicle batteries, precursors and cathodes, and chemical, aluminum and steel companies, as well as electric vehicle manufacturers. The Company has been conducting discussions and negotiations with parties from Europe, Asia and North America. These are expected to lead to the selection of a group of companies that will be provided with the opportunity to test, evaluate and begin the qualification process for the Chvaletice Manganese Project, initially based on the manganese product that will be produced at the Chvaletice DP. These bulk samples are principally expected to be used for the design and testing of precursor and cathode formulations, in combination with specific lithium, nickel and cobalt sources, for use in automotive lithium-ion batteries. EMN also anticipates that some material will be tested in connection with high-end specialty steel, aluminum and other chemical and high-technology applications. The Company is planning to allocate the DP’s production in the coming months. Upon successful completion of testing and evaluation of these products, EMN would expect to enter into offtake agreement negotiations with these parties.
About Euro Manganese Inc.
Euro Manganese Inc. is a Canadian mineral resource company, whose principal focus is advancing the development of the Chvaletice Manganese Project, located approximately 90 km. east of Prague, Czech Republic, in which it holds a 100% interest. The proposed Project entails the re-processing of a significant manganese deposit hosted in historic mine tailings, strategically located in the heart of Europe. EMN's goal is to build a leading, competitive and environmentally-superior supplier of Ultra-High-Purity Manganese Products, serving both the lithium-ion battery industry, as well as producers of specialty steel and aluminum alloys.