Manganese X Energy Corp: Mining the Future

0:03 Oh boy. So it's good to have a dog. We used to have a Yorkshire Terrier, you know, it was good. Oh, so cute. Yeah, very cute, you know. So we used to have Yorkies from England, you know, it was very interesting. And I loved, you know what, I'll just say a quick story before we go. When I met Anne 14 years ago I hated cats okay I hated cats and she had a cat and she's a cat lover right? So yeah when I met her she had a black cat and I didn't like the cat. The cat kept, it was an older cat, it kept on biting me because it was jealous that I came in, you know? Ah yes. So now we live in the country And we rescued one other cat from PI, but this one that we have right now Came to our back door and flung herself to come in Is that God's way of sending us a cat and we've had her for 10 years and she loved that cat.

0:58 She's our big cat. She's our big cat. Isn't it ironic that they would just come to our back door? You know? So it's very interesting. Yeah, it must be great. Yes, I don't know... Hey, animals choose you. Pardon? Animals choose you, okay. Yes. Animals choose you. And I believe God... I really believe God sent her here, you know, and she's our baby. And we have another cat that we rescued from P.I. He just passed away, and he allowed her to come in, so it's just a wonderful situation, you know. Yeah. I'd love to see some pictures. Pardon? I'd love to see some pictures. She's beautiful. She's a beautiful cat. This is the German shepherd I used to have. Oh, wow. I was 90. How old was he? How old did he...

1:46 How long did you have him for? It must have been 14 years. Wow. Anyway, it's a shame. The trouble is with animals, as you get to know them and love them and they die like in 10 to 15 years and it was I had this that we got from P.I. And he was my cat you know and he had rheumatic heart 7 years ago And they said he was going to die anywhere between like 2 months and 2 years and he lived 9 years He was a miracle Every III admired him so much. He was such a fighter, you know, then he died of cancer. Yeah So it's crazy man. Yeah crazy Yeah, but it's great that you guys have that much time together.

2:36 Yeah, yeah, I know. Yeah. Sometimes it's too much, I'm telling you, you know. Seriously, like we're on each other, we're together like 24 hours a day, you know, and It's it's sometimes rough, you know, so you have to learn just to be love and tolerance all that stuff, you know Yeah Anyway, So that's the way life goes. I'm just going to check our stock for a second and see how we're doing. We're not doing it all too great now. And it's the end of the season, you know, selling. So it's horrible. Yeah. Oh, since we're a minute and a half out, why don't you turn your camera off? Okay. I'm just going, yeah, I'll do that right now. Yeah.

3:23 Okay. Let me just get in here. Yeah. And then I'll mute you and then, I'll let you know, when we're doing Q and A for you to turn your camera back on. Okay. I'm off. Is that okay like that? Okay. Good. So I'm good. Can you hear me? Jane? I can still hear you. Okay. So you want me to turn off? How do I, you want me to turn off the sound? Jane? Yeah, I'll meet you. I'll meet you now. Okay. Yeah. Okay. Okay. Okay, so I have muted you. And then I will start. I'm gonna go from there. Hi everyone, welcome to Manganese X Energy Corps' Live Investment Summit today hosted by 6. We're going to

4:55 start off today with a short video about Manganese and the company. Then we have a pre-quarter presentation with CEO Martin Kappmann. If you have any questions during the presentation, feel free to submit them using the Q&A panel on the right hand side of the screen, and then we'll use those questions for our live Q&A session afterwards. Without further ado, Let's go to video. The Stone Age, is named after the Grecian region it was mined in after stone transmuted to bronze. Since then, this critical mineral has been the backbone of steel production, helping the world modernize into the shining metal metropolises we live in today.

5:45 Mined mostly in China, South Africa, and Australia, demand for the brittle, silvery-gray transition metal is tied closely to the outlook of steel, as at least 90% of manganese produced is used in steel production. However, now that we are in the middle of a green energy revolution, manganese is gaining an independent importance from steel in solar energy storage, EV batteries, and cutting-edge power grid storage systems. COVID-19 may have slowed the world economy and impacted steel production as a result. But until it put the fear of God into every country but the US, infrastructure was expanding wildly in both China and India as each country was undergoing a culture-changing shift to urbanization. As such, junior miners like Manganese X Energy, MN.V, have been working to secure significant deposits in friendly and stable mining jurisdictions not affected by the current tensions in geopolitical relations.

6:44 Manganese X's flagship Battery Hill property, located in the Canadian province of New Brunswick is strategically situated 12 kilometers from the US border and includes historical Moody Hill, Sharp Farm, Iron Ore Hill and Maple Hill manganese iron

7:00 zones. Battery Hill enjoys good access for transport to major shipping lanes on the Atlantic Ocean and St. Lawrence Seaway. The project also has close proximity to electrical and water sources. The company recently completed an update to its National Instrument 43-101 Technical Report for Battery Hill with a diamond drill program which intercepted significant grades and widths of manganese mineralization, including 10.75% manganese over 52.6 metres, 12.96% manganese over 32.85 metres, and 9.39% manganese over 74 metres. These promising results have the junior explorer chomping at the bit for another drill program this fall along with the ongoing phase 2 metallurgical bulk testing.

7:48 They intend to finance these initiatives with a recently announced $1 million non-brokered private placement. Once the recommended programs have been completed, Manganese X will move ahead with a preliminary economic assessment in the hopes of building and powering the world's next great era of hope. Welcome, ladies and gentlemen, to Mining the Future Summit.

8:34 This PowerPoint gives you an insight into our company and why we are calling the summit Mining the Future. I hope I'm not going to bore you too long with the PowerPoint. And after the PowerPoint, we will look for some of your questions and any comments you have to say. So we're going to start the PowerPoint right now. Okay, we're going to our first slide. Here is Manganese X energy value proposition. We are a forward-thinking company poised to take advantage of the global move to renewable energy through some of our key projects, such as number 1, manganese is clear choice of future and is a key element in manufacturing of the lithium ion batteries that will power the world. And this will also include EV batteries, which is electrical vehicle batteries and backup storage batteries.

9:30 We have number 2, great manganese potential and drilling program in our Battery Hill project near Woodstock, New Brunswick, 10 miles from US main border is strategically located to major shipping lanes on the Atlantic and Great Lakes, as well as access to major rail transportation lines. Number 3, our company has achieved 99.95 MnSO4, which is a manganese sulfide oxide, which has low contaminant EV compliant precursor to the cathode industry. Next slide, please. As you see by the graph, lithium manganese batteries are in high demand. Manganese is a very important mineral. It is cost effective, it adds robustness, stability, light weightness, and it is much more less volatile than the cobalt battery that they were presently using. That's why they've eliminated cobalt, because it was very volatile and very expensive. Cobalt retail for about $32,000 a ton, while manganese retails for like $2,000 a ton. Next, next slide please.

10:45 So far as EVs are concerned, here is the market trends that we are concerned. As you can see, less than 2.5, the total 9.16 million passenger vehicles sold in 2019 were electric. Now, if you go down major European countries like India, China, among other nations, planning to phase out internal combustion engines within the next 20 years. And just for your interest, there's many, many provinces in Canada, especially Quebec, where they're going to be phasing it out by 2035. And in the states, California and all these other states, they're going to be really pushing to end the internal combustion revolution. Next phase, please.

11:32 Of course, it's going to lead to expected increase in EV sales to drive battery materials demand. And what do we need is manganese to be a big part of the EV battery explosion. Next slide, please. I would like to present our battery minerals and technology assets. In terms of our manganese flat chip asset, battery held manganese deposit located in Woodstock, New Brunswick. Other assets are our lab graphic deposit in Quebec and also our disruptive battery corp division. Let's move on to the next slide, please. Okay. Let me talk to you about one of our assets, Battery Hill, which is a responsible medical source of manganese. As you take a look on the left side of the map, these are all different sectors of our Battery Hill deposit.

12:28 There's Iron Hill or Sharp Farm, Moody East, Moody Central, Moody West and Maple Hill. If you take a look just for your interest, Moody West, Moody East, and Moody Central where I visited, that's where most of our majority of our mining is going to take place because of the high quality of manganese. The Battery Hill deposit in Holston Woodstock property consists of 55 claims totaling 1,228 hectares located in New Brunswick. The deposit has excellent location being approximately 5 kilometers northwest of the town of Woodstock and are easily accessible from the Trans-Canada Highway via all weather roads. It is strategically situated 10 miles from the U.S. Main border called Holston near existing power transmission lines, railway and road access that provides suitable transport to major shipping lanes and on the Atlantic Ocean and the St.

13:29 Lawrence seaway. Next slide, please. And if you just take a look at the map here of our Battery Hill project, it's basically a magnetic base. It's a drill plan and magnetic base. All the colors are mineral, the red colors are mineralization and we have a pretty good asset there. Let's discuss Battery Hill a little bit more in detail. It's a non-compliant resource estimate amount to 39 tons at 9% mineralization. Mineralization remains open in most directions, depth and strike for significant expansion. Metallurgical and drilling programs to determine the compliant resource are ongoing.

14:17 And we have just completed a 28 hole, 4,500 meter program, which just was completed December 1st. Okay, and the first, and I said in the same current focus is on near surface higher grades areas on the Moody Hill zones, which I pointed out to you. Upon successful completion of the programs, work will be initiated towards a completion of a preliminary economic assessment as called in brackets of PEA. Next slide, please. Okay, this is a very interesting slide because a lot of a lot of people don't understand it. In terms of simple processing steps, okay. I would like to just explain very briefly that we at Manganese X in the Woodstock in the Brunswick area have a carbonate deposit and they're not really that many carbonate deposits but that's where leaching occurs of the mineralization we have to break it down with leaching.

15:19 And it's a much simpler process. And I'm going to go through this. Our process starts with mining, then crushing, then leaching, where you put in sulfuric acid, and you dissolve all the impurities and then you go into solid liquid separation Then you go into metal multi-stage purification Crystallization and high purity and then so forth with low contaminants and you need the compliance, you know the most interesting Solid liquid separation Then you go into metal multi-stage purification Crystallization and high purity and so forth with low contaminants and EV compliance you know the most interesting part is most of these, starting from leaching, is all metallurgical and it's a very, very fine process, metallurgical, because that makes or breaks the project, because if you can't break down your minerals economically and bring it into a final product, you can't be successful. And we're working very, very closely with a company called Conetco Research in Vancouver, and they've been really helping us and we're getting closer to our flow sheet and more into economics and we're very excited about all that. And just for your interest there's the majority of deposits of manganese are oxides where you have to roast, roast the manganese and it becomes complicated and very expensive because

16:51 of the electricity and then after the oxides are roasted, then they must be converted into a sulphite. We go directly from crystallization into a sulphite. Next slide please. Okay. We also have another asset we own, the lab graphite properties called Lacoboyer property. And if you take a look here, it's just a little bit of map of what's going on. Past exploration tests intersected significant graphite mineralization in drill holes and trenches. Preliminary metallurgical results returned very good results and recoveries up to 96% which is really excellent. And another interesting point about this, it has a high percentage of large flake graphite, which is positive for high quality premium price products.

17:42 And they normally turn it into spherical graphite, which is very high in graphite. Infrastructure is excellent with road access and electrical power on the site and the property is located contiguous to Tim Tao's lack they did producing graphite mine and an interesting story I'll just want to tell you is 4 or 5 years ago I went up to that property and it's way up north in Quebec and I went on the property and I was amazed to see that Tim Cowell's entrance was on our property. I just want to tell you a little bit about Timcow. Timcow is the only graphite producing North American mine. And they are producing very high quality graphite, spherical graphite, and they have a processing plant about 60 kilometers away.

18:36 So it's very interesting that their entrance is on our property so it gives us a lot of encouragement to know that probably the their mineralogy is very close to ours. And they produce 15 to 20,000 tons a year of graphite. Lab graphite, here's an extra bonus also. Lab graphite property will be spun out into a separate company to enhance focus on maximizing shareholder value. We will be spinning it out as a dividend, hopefully by the first quarter of next year. So that's another very exciting aspect. Another promising asset is our disruptive battery corp. The disruptive battery corp solves liquid separation.

19:25 Then you go into contaminations and how people are now becoming more and more aware of it. It's becoming a bigger and bigger problem, especially in the schools and everywhere else. Next slide, please. In conjunction with the U.S., Pure Biotics Virginia State University is researching and testing U.S. Patented HVAC delivery systems for mitigation of COVID-19 and contaminants. And this will also include bacteria, viruses, pathogens, allergens, and infections. And Pure Biotics HVAC system intends to provide a method of reducing microbial levels in the interior of a building by vaporizing antimicrobial essential oils to produce vaporized antimicrobial essential oil and entraining the vaporized oil in the air stream. It offers the potential for global scalability.

20:22 Also, we're also looking at another venture which is a natural organic probiotic as an air mist into the delivery system and there's a lot of very interesting things happening. Okay, now we have Virginia State University Research and Testing Labs working in collaboration with top-rated specialized hazard material laboratory for coronavirus testing as well as the Center for Disease Control and Prevention, CDC, and other university labs providing additional range of testing. Virginia State University would ensure that all of the data and all the parties involved in the testing is properly structured and documented and peer reviewed.

21:08 Another thing is they are really accredited FDA, all the government, US government accredited testing university and they have very, very high reputation. Next. To summarize, here are our key milestones. We have our key milestones broken up into 3 different areas. Our manganese property, our lab, which is the lab property, the Graphite NRH Lab, the Manganese Woodstock Project. In 2020, number 1, we just completed a major drilling program. As I said to you before, we also are proceeding very, very well with our metallurgical flow sheet development with Prometco, and we are starting preliminary permitting processes.

21:56 Then going into 2021 with our Manganese project, We are definitely heading full tilt into resource estimate,

22:05 pilot plant, and then the PEA, preliminary economic assessment. That's one of our goals is to get a PEA going, because that's really solidifies a lot of things for a company. And then in 2022, a demo plant, reserve estimate and feasibility study. Talking about that demo plant, we've already contacted a European company that they were talking more about putting it in modules so we don't have to do the whole plant. We can just do small amounts of our product and it really makes it much more feasible to do. Okay now we're going to go to number 2, our lackable new lab project. Okay and That's the graphite. We've already completed an NI42 and a technical report. We're getting into 2021.

22:55 We're going to spin out the lab property as a bonus, as a dividend. Drilling program will start after it's spun out and Metallurgical tests going on and there's other major things happening, which I really cannot divulge right now and Going into 2022. They're going to also start a pilot plant and a PEA. Okay, and last but not least our number 3 HVAC, disruptive battery corp section and the whole idea for 2020 is testing and validating the vaporous formulas

23:31 which is called VF. It's really the air purification system with it and also we're using air mist. Okay. And then in 21 and 22, upon successful testing from the university and validating the probiotic, which is very interesting. We are going to pursue regulatory approvals, adapt and re-engineer patented HVAC apparatus to new VF and vaporous formulas. And number 3, perform tests in commercial buildings upon regulatory approvals, pursue partnerships, et cetera, et cetera. And this is very exciting because we're really pursuing it in a very aggressive manner. Next slide, please.

24:19 And finally, to finalize, here is the corporate strategy. The first thing is to focus on our metallurgy from the start to de-risk the project, 2, to target a key strategic product, high-grade manganese sulfate for electric vehicles and stationary battery systems. Okay. Number last, to invest in research and development of downstream products and to partnership with downstream players. And I just want to comment on the last statement to partnership with downstream players. I just want to let you know because there's a lot of things we can't really publicize because we have NDAs and other things. So we've already signed a major NDA with one of the world's largest cathode manufacturers in Europe.

25:09 And as soon as we get in towards our PEA, they will come in and they're going to really help us in the production and monitoring of it and improving our systems. Also we met some very large corporations in Quebec already. We showed them our MnSO4 and they're very, very impressed about our low contaminants because it's very, very difficult to get that type of MnSO4 as a pure product. We've got a lot of compliments like that and in Quebec right now, they're putting in 2 billion dollars into lithium ion batteries and producing of it. And we've had some preliminary talks with them already.

25:52 So I just want to then thank you very much for enduring my presentation. And I will be more than welcome and happy to answer any of your questions as long as they're not too hard. So thank you very much. All right, and now I'd like to welcome back Martin live to go into our Q&A section. I know we had quite a number of questions coming in live from the audience already. Welcome back, Martin.

26:28 Martin, I don't think we can hear you yet. Martin Fong OK. Hi. Hi. Jennifer Hingorani There you go. There you go. We can hear you now. Perfect. Martin, I know you've had some new news that just came out today. So why don't we start with that? All right. Well, we just came up with a news release this afternoon that Magnus X subsidiary and JV partner We formed a corporation a JV corporation called pure bionics Incorporated and we're expanding of our HVAC air purification delivery system for mitigation of COVID-19 and other contaminants with University of Massachusetts. So we're really getting excited to do some more testing about our HVAC system and of course trying to prove that we can go and kill the biofilm and especially with that to mitigate COVID-19 and any other bacteria etc. Etc. Like that okay.

27:32 So that's where we're going. We're going on with viruses, bacteria, pathogens, et cetera, like that. And I just wanna mention that the University of Massachusetts is one of the well-known universities in the States and they are, their FDA accepted and they've got level 4 testing, which is extremely important for this type of COVID-19. It's a special, it's a special university that can handle COVID-19 testing. So we're excited about that. Perfect, definitely very exciting. Indeed. Everyone, you can see a link to the news release today in the chat section.

28:19 I put a link there in a sticky message. Let's get to our first question. First question is from Hal. They're asking, can shareholders expect shares in both the HVAC and the lab companies? If so, when? That's a very interesting question. Okay.

28:36 The first question is we just, we have discussed doing a, having a dividend for our LA lab property, lack of bogey property, and we're looking forward to spin it off in the first quarter of 2021 as a dividend. And we're going to give more details at the beginning of the year of the dates that you have to hold Manganese X in order to get the dividend. But we're definitely proceeding with that dividend play. Absolutely. And again, with our HVAC, okay, disruptive battery core, that's a very interesting question. And I'm very optimistic about that, very optimistic about disruptive battery. And I've done a lot of research about the company Probiotics.

29:25 And if anybody wants to go onto the website and check it, they're a very, very interesting company. They've been in business for the last 25 years and have exceptional

29:36 potential in regarding of mitigating COVID and other contaminants. I'm very excited about that. I did a lot of research. I read a lot of research papers they've done. The whole idea right now is to prove the concept and their air mist and our purification delivery system and If we, I'm very excited because we're using Virginia and Massachusetts to prove the concept and they're gonna be doing intensive, intensive, intensive tests. Hopefully in the next 30 to 60 days, we'll be able to get some results. And if we can get these results, then we can really get going with our products.

30:21 We've had inquiries all over the world already. As a matter of fact, we just got an inquiry yesterday from Germany wanting to do a joint venture with us and we have tremendous, tremendous interest on that. So it's now to prove it that we can really do what we have to do and kill the, it's really the biofilm. I just want to explain something a little bit about the biofilm, which I learned, okay. The biofilm is on all surfaces in the world, okay? And all the viruses and bacteria congregate on that biofilm. And I have seen certain instances where Our company have worked successfully to destroy that biofilm. So we're trying to do that now in an air mist and HVAC system because the HVAC system

31:14 is now the talk of the world. Everybody understands about the, about all what's going on with COVID and the contaminants within an HVAC system and, and all the different commercializations of the, houses and, and everywhere else. So what we have to do is test it and get it going. And if we can prove that we can destroy biofilm, which 80% of all the bacteria and viruses congregate there, 80% of all everything in the world congregates there, we can really accomplish something tremendous. And I'm really excited about it. And we're just waiting now to prove it. So if we get it going, okay, we have financial commitments to do to also proceed with it because we wanna produce the HVAC system in the States and distribute it worldwide, but we have to make sure that the products work well. But we're really excited.

32:11 We're going to integrate our US patent also, and we're upgrading the patents right now. So

32:16 there's a lot of good stuff coming along with that. And most likely we will spin it off once we get our results. Sorry for the long explanation, but I'm really excited about that. No, thank you very much, Martin, for the details. How about for the lab graphite company when that goes public, is there a due date for current Manganese X shareholders and shares to be eligible for the dividend shares? Good question. Yes. And we're going to announce a week before we spin it off. So everybody holding Magnum X will definitely get a dividend on that. And everybody will know in advance when we're going to do it. And as I said before, a lot of wheels are in motion and it's going to happen in the first quarter.

33:03 And I think the name of the new company is going to be Grafino, if I'm not mistaken. Interesting. Our next question is from Hal. When will you have a sellable product and revenue?

33:16 When? That's a great thing. Are you talking about manganese or Are you talking about our HVAC system? Which one? I'll address both. Okay. Let's address both. Yeah. Okay. So the, as, as I explained in the PowerPoint presentation before, okay. The whole idea of having this type of mining company is that you have to develop an end product that's viable, economical, etc. We are developing as I said before the MnSO4 which is a manganese sulfide oxide and I never said it in the prep in the presentation but it is a powder it's a white powder okay. So what we have to do is make prove that it's economically viable number 1 you know and that's going to come probably from our PEA and also have something called offtake deals. In other words, you wanna be able to sell your product and make money.

34:16 So we're trying, we're working on that in those areas. And if you probably, on our milestones, we're expecting to go into a, you know, NI 43-101 resource estimate from Infernta

34:31 indicated. And we're going to go into a pilot plant and have the PEA next year. Once we got the PEA, hopefully by the end of next year, we are also making contacts with a lot of corporations. As I said to you before, We have a large cathode manufacturer in Europe that wants to work with us as long as we can show them the money, as long as we can produce it economically. I really believe that we have the backing and the management to do it. We have Roger Dawn, who's the Vice President of Exploration, that's worked very, very closely with us and has all the knowledge on Manganese and he's contributed a lot to our company. And we have, as I told you, Kimitco, and we have a lot of good management with experience.

35:17 We also have Dr. Louisa Marino, who has a lot of experience in these ends and that's helped us tie up this

35:26 confidentiality agreement. And so we're really pushing forward. So we're just now waiting to proceed to finish off our 43 101 and then proceed into a file plant in the PEA and we're also just fishing off the touches With our flow sheet for the MN so forth. So that's where we are in the Maganese MNSO4 and the winding division and our disruptive battery. Well, as I said to you before, hopefully within the next 3 to 4 months, we're going to get some really exciting news. I'm really, really excited about this, okay? Because it's going to, the inquiries and the people calling us who want to help us finance and people want to save the world like this.

36:11 And I think it's a very, very interesting aspect of our business because it's so self-centered on HVAC and purification methods and such and mitigation. So we're really going full blast there also. So that's it. Unfortunately, we're held back a little bit with the COVID-19 in regards to processing and working with the labs, but things are coming along slowly but surely. Great, thanks Martin. Can you talk a little bit about where you see the global demand for batteries going in the next 5 to 10 years? Well as I said to you before on our it's really going as I told you from there everybody's they're trying to phase out the combustion engine by 2045 so that tells you everything you know and and there's also there's so many different aspects of it. There's the EV batteries, okay, as I told you before, Tesla is now innovating the new batteries in the new EV cars in 3 years where they're going to put it out for $25,000.

37:16 And that's a magnet, as I said to you before, has 33% of the cathode that goes into the battery along with 66% nickel. So it's really exciting and they're discovering every day that manganese is becoming more viable. It's very robust. It's cheaper than a lot of other materials, you know, and less volatile. So it's phenomenal. It's coming and we're getting reports that, you know, they're starting to use manganese more in the battery end than they've ever before I've seen. So that's where we are with that you know so that's where we are. So are there any talks right now between Manganese X and Tesla or any other EV companies as a supplier for them?

38:05 Well, is that is there anything? Well, that's a very Touchy situation right now. Okay, we met we met with some major players in the lithium-ion battery area in Quebec, you know, about 2 or 3 months ago and they were very interested in us but, you know, they're waiting now for our PEA, that's the whole idea. And I wouldn't be surprised if Tesla's looking at us because they're looking for domestic production There's been a lot of inquiries, but as they say in show business show me the money You know show me that you can be economically viable and then we can go from there, you know but yes, we have definitely a lot of inquiries and a lot of interest to do an offtake deal with us if we can get it going, you know, and as I said to you before, they definitely have seen what kind of expertise management we have. We have a good advisory board and we've got a lot of experience.

39:08 We have spent more than 4.5 years working on this manganese project. When I came in, I didn't know anything about manganese or anything like that. We spent millions of dollars already drilling and metallurgical. It was an interesting part because it's a carbonate deposit, which is completely different than the oxide deposits, where they roast for 8-hours and use all the electricity. We had to refine all our thinking and get the right people in hand to be able to help us develop. So it's a great experience. We spent a lot of time, there's been a lot of money spent on that and everything like that. So that's where we are.

39:55 Great. Here's a couple of follow up questions from Domi. Specifically, about Europe, when will the first customer be made public? And in terms of timelines, obviously you're having a lot of interest in talks with different EV companies, but when are you going to communicate the first contract with an EV company? Well, as I said to you before, it all hinges on our PEA. It's called a preliminary economic assessment where they investigate your products, your mining, the whole thing after your 43-101 and then they see if you can find that product that we're going to produce, if it's viable and economic to make, and then we go from there. The way it's looking, we're very optimistic.

40:43 They'll do all the different aspects of the processes for us from top to bottom for mining and then come up with the bottom line. And if the bottom line is there and the market is there, it's going to be very positive and we are, you know, progressing very well. So that's how it works for the PEA. Here's a follow up question from Natalie. So since so much hinges on the PEA, why should we hold shares now versus waiting for after the PEA? Why? That's a good question. Well, we're progressing. Every stage of our development stage, we're improving and progressing and making things viable. We're going step-by-step into the PEA.

41:30 As I said to you before, one of the key elements of this PEA is the metallurgical. Without being able to break that product down, as you saw on the process sheet, the whole idea is that mining is mining. There are certain aspects of mining that's at fixed cost, but it's the metallurgical and a different flow sheet processes that makes or breaks the company. I think we're in an excellent position right now with our metallurgical to continue. As I said to you before, Kometco, who we are working out of Vancouver, are an excellent company with so much experience with manganese. They work all around the world and they've been, they've worked on pilot projects and that's where we're trying to go. We're going to go right after that into a pilot project for our PEA and that's going to also improve our processes and costs. So everything is right on stage on time and we're following everything to follow into the PEA. So far we haven't had that many big obstacles yet. Yes, we've been working very hard, but it's coming along very, very well, and I'm very optimistic.

42:41 Perfect. The next question is from Louis. Where do you plan to refine the manganese or are you expecting customers to refine it after shipment? Well, I don't basically don't refine it, you know Where as I said to you before our our different processes are you know It's we're going to prop it depends. It all depends, you know again, that's a very interesting part We're gonna have to take it out of the ground and do certain things with it. But like all the purification, crystallization, all that stuff, We'll either do it in New Brunswick or if it's economically viable, we can transport it out of there. It all depends on our costs and processes. We're going to try to do as economical as possible.

43:32 Quebec is very interested in opening up a processing plant in Quebec. That's all I can really say. Because as I said to you before, they want to produce lithium-ion batteries and they need a manganese producer. And everybody's calling us because everybody wants to buy it domestically. And we're North American, but in North America, and we're the only right now viable commercial mining company trying to achieve that possibility. So a lot of people want to work with us because they do want to buy North American, you know, and there's something called the mining act in the States where manganese is one of the 6 critical elements in North America.

44:19 And that's also a very interesting possibility. So we're becoming known worldwide, especially that we're a manganese company trying to go and make manganese commercial. And we're the only one right now at the stage right now where we are. So it's a very interesting aspect. The US government definitely doesn't want to depend on their imports anymore. That's the whole idea about us being approached by many, many people. So that's it there. Thanks. Our next question is from Kenny. What is your view on the disruptive quantum glass battery technology And how could this impact your project in business case? Could you, I'm sorry, you faded out. Could you please repeat it again? Sorry.

45:10 No worries. The question's from Kenny. He's asking, what is your view on the disruptive quantum glass battery technology? And how can this impact your project and business case? I'm really sorry, like we're only concentrating on this area of MNSO4, and I'm not really, I'm not really a student on that subject, sorry. I really don't know that much about it. All right, no worries. Next question is from Alexa. They're saying that there's a lot of air cleaning systems already in the market. So what is the big advantage with your system? And why would it make sense to wait until it goes into mass production in a couple of years? What a great question. I'm sorry, I would have loved to said that. Okay. Okay. So first of all, it's called pure biotics. So it's an organic product.

46:00 There's no chemicals, anything in this product, which makes it very, very viable. Okay? Especially if we want to do it in air disbursement, you know, with our HVAC system. I love that question. And we are, we honestly, we're going to try to get this FDA approved. As soon as we can, I forgot to mention that, it's a very exciting aspect because if we can, as I said, you get the approval from the University of Virginia in Massachusetts that our product does work, we're going to fast track into FDA approval? And gentleman, Lino Morris has worked very closely with the FDA and he's had other products approved and we're going to go, you know, get them in Canada and in the States. And if we can get that approved, that's going to open up the market to, to worldwide, because then, then all the hospitals and all these other areas are going to use it because it's FDA approved right now.

46:59 So that's a super question. And we're very excited about that. And only time will tell where we go, but we're an organic product, pure product. And as I said to you before, They have another product that works on surfaces only by application. And it appears that it's very effective against biofilm. And that's the key. Biofilm is the whole key. You know, we're going to, the biofilm, we're going to disrupt all the bacteria and viruses on the surfaces and then put it in the air and, you know, and then be able to work all these, all the air purifications and air mists in the air and resolve all those problems. So that's a very interesting question.

47:47 And we're very optimistic we're going to go that way. And in our plan, we also have financing for that. So that's where we are. Great. Thanks, Martin. Next question is from Hal. How are you working to ensure that the EV product is produced with 0 or near 0 emissions? Well, the only thing I can really say, that's a good question Hal, what we're doing is it's called a precursor to the cathode. As you know, the manganese is going into the manganese oxides, it's going into the cathode. So what we're going to do is we're going to build up to that powder of 99.95% purity. And as I said to you before, very low contaminants, EV compliant, which is key, okay. Because if you have a lot of contaminations in your product, it's going to kill the cathode, it's going to destroy it. So what we decided as a group and Dr. Louisa Moreno was a big part of this, was that we were going to, after the crystallization, we were going to go in and produce a powder called the Minnesota 4 and from that powder You can then develop it into something called EMM EMD wherever you want to go into the cathode So we're going to give the all the EV battery makers the option because there's different types of mixtures They go into the cathode depending on the battery, okay?

49:17 So what we're gonna do is we're gonna say, here's your MNS04, now if you want, we can help you develop to another end, or if not, you can work it off. And that gives us great options with EV manufacturers. And about emissions, well, we're just trying to, we're trying to, our company is trying to go 0 emissions, be a green environmental company and help the world. So that's where it's going. So that's exactly where we are with the MNSO4. Great, thanks Martin. Our last few questions here are about drilling. Basically, are you actively drilling and supplying manganese now and where can we go to see more pictures or videos about the drill sites and areas if there's more information? Okay, that's a good question. Okay, we just completed on December 1st a major drill program. Okay, we did 28 holes We just didn't completed 28 holes with about 4,700m.

50:30 We're now processing the cores into a lab, into the labs for, you know, to be able to analyze the mineralization. There are pictures on our website about drilling and all that stuff. So you can go onto the website and there's some videos there that are very important and we're going to also we're also going to put up a video from the labs and how they're processing our our cores and how they're testing it. Okay, so that's That's what we're going to be doing. So everything else is good. So that's who we are. Perfect. Well, I do think those are all the questions that we have today. First of all, Thank you, Martin, for taking us through the presentation and answering all of our questions live. And also thank you everyone for submitting your questions today. If we didn't get a chance to get to your question or you think of one now or after the event, make sure you stick around. There's a quick survey that you can leave your details behind for the Manganese X team to follow up with you directly.

51:34 And as Martin mentioned, there's more information on their website at www.manganesexenergycorp.com. As always, this recording is going to be available on SIX.com. Free to watch a replay if you missed any part of it. And now I'm going to hand it back to Martin for the final word. Well, thank you very much for coming and watching my presentation. I really appreciate it. I hope we were able to resolve some of your questions about our company. I'm very excited about our upcoming events with our company, especially, you know, in 2021, we're looking forward to a lot of great optimism and, and start proving out what we are trying to do and where we're going. So I think we've really achieved our milestones for 2020, and we're pushing forward to 2021 to achieve more of the milestones.

52:31 So that's basically it. And thank you very much for it. It was very interesting, the questions I received today, and thank you very much for it was very interesting the questions I received today and thank you very much for all your participation. All right until next time everyone have a good rest of your day.