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Euro Manganese Reports Fourth Quarter and Year-End 2022 Financial Results and Project Developments
VANCOUVER, British Columbia, Dec. 18, 2022 (GLOBE NEWSWIRE) -- Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQX: EUMNF; Frankfurt: E06) (the "Company" or "EMN") i
About this update from Euro Manganese, Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, Dec. 18, 2022 (GLOBE NEWSWIRE) -- Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQX: EUMNF; Frankfurt: E06) (the \"Company\" or \"EMN\") is pleased to announce key developments during the fourth fiscal quarter and to date. The Company has now filed its September 30, 2022 year-end Financial Statements, Management’s Discussion and Analysis, and other financial reports. Key Developments During and Subsequent to the Quarter Commissioning of Demonstration Plant underway with on-spec samples expected in Q1 2023. Following arrival of the Demonstration Plant modules at the Chvaletice site in early September, the modules were installed within two fully refurbished buildings adjacent to the intended site of the commercial Chvaletice processing plant. Commissioning commenced in early November and is advancing on a module-by-module basis. Commissioning is expected to be completed in the first quarter of 2023 with on-spec samples also expected then. Thereafter, deliveries of bulk samples to customers will commence. - View a video of the demonstration plant modules in process flow order.Six companies from across the EV supply chain have requested samples from the Demonstration Plant as they look to qualify the Company’s high-purity manganese products. A further six companies, including European and North American automotive OEMs, battery manufacturers, and cathode manufacturers, who are currently testing initial-run Pilot Plant samples, are expected to request Demonstration Plant samples as part of their strategy to move to local supply chains with full traceability and the highest sustainability standards. Pilot Plant samples ready for shipment. The Company’s smaller-scale Pilot Plant in China completed a second run to produce additional samples for customers. Formal off-take tender process underway. A structured off-take tender process, which has included site visits and making a customer data room available, is ongoing. Multiple indicative bids have been received, in addition to the five MoUs currently in place. Active discussions are occurring with numerous consumers of high-purity manganese products, which include battery, chemical and automobile manufacturers, in Asia, Europe and North America. EPCM tender process advancing. The Company has issued an Engineering, Proc...