Euro Manganese Advances to Next Stage of Debt Funding Process with
the European Investment Bank
Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQX: EUMNF; Frankfurt:
E06) (the "Company") today announced that its Chvaletice Manganese
Project ("Chvaletice" or the "Project") is formally listed1 as
under appraisal for debt financing with the European Investment
Bank ("EIB"). Funding from the EIB would complement a broader
funding package to support the development of the Company’s
high-purity battery-grade manganese plant in the Czech Republic.
Highlights
- Euro Manganese’s
Chvaletice Project has progressed to the formal appraisal stage for
debt financing with the EIB in what was a significant milestone in
securing funds for the Czech Republic's high-purity manganese
production plant
- Chvaletice is
the European Union's (“EU”) sole large manganese reserve,
positioning Euro Manganese as a key supplier of local, recycled,
ESG compliant high-purity manganese for the European EV market
- Recognised by
the EU as both a Strategic and Critical Raw Material source, the
Chvaletice Project is set to boost EU resilience in battery
materials while delivering environmental benefits through
historical tailings remediation
- Debt financing
from the EIB supports the aims of the inter-governmental Minerals
Security Partnership ("MSP"), which includes 13 countries and the
EU, that has endorsed the Chvaletice Project as a key
initiative
Dr. Matthew James, President & CEO
of Euro Manganese, commented:
“The advancement of our Chvaletice Manganese
Project to a formal under appraisal level signals the EIB’s
commitment to supporting sustainable opportunities in the battery
supply chain. Chvaletice remains the only sizable proven and
probable reserve of manganese in the European Union and through the
Project, Euro Manganese will be uniquely positioned to provide a
secure, traceable, and responsibly produced supply of high-purity
manganese products to the European electric vehicle market. With
the European Bank of Reconstruction and Development (“EBRD”)
already as a key shareholder, today’s announcement is another key
step towards achieving project funding. We look forward to
obtaining EIB’s continued support for this strategic project.”
The EIB notes: "The European Commission has
identified both battery-grade manganese and manganese as 'Strategic
Raw Material' and "Critical Raw Material", being highly relevant
not only for the green and digital transitions, but also for
strategic technologies and sectors. The Chvaletice Manganese
Project represents an important circular economy-based source of
high purity manganese and will supply the battery value chain with
a key raw material that is largely imported, increasing the EU's
resilience. The Project will also include multiple environmental
benefits from the remediation of the historic tailings area,
particularly in terms of soil quality and freshwater quality."
In October 2023, the Chvaletice Project was
named as a project to be supported under the inter-governmental
MSP, a collection of 13 countries and the European Union,
representing over 50 percent of global GDP. The MSP aims to
catalyze public and private sector investment to build diverse,
secure and responsible critical mineral supply chains globally.
About Euro Manganese
Euro Manganese is a battery materials company
focused on becoming a leading producer of high-purity manganese for
the electric vehicle industry. The Company is advancing development
of the Chvaletice Manganese Project in the Czech Republic and
pursuing an opportunity to produce battery-grade manganese products
in Bécancour, Québec.
The Chvaletice Project is a unique
waste-to-value recycling and remediation opportunity involving
reprocessing old tailings from a decommissioned mine. It is also
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.
Euro Manganese is dual listed on the TSX.V and
the ASX, and is also traded on the OTCQX.
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.
Enquiries
Dr. Matthew JamesPresident & CEO+44 (0)747
229 6688
LodeRock Advisors Neil WeberInvestor and
Media Relations – North America+1 (647)
222-0574neil.weber@loderockadvisors.com
Jane Morgan Management Jane
MorganInvestor and Media Relations - Australia+61 (0) 405
555 618jm@janemorganmanagement.com.au
Company Address: #709 -700 West Pender St.,
Vancouver, British Columbia, Canada, V6C
1G8Website: 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, its Chvaletice
Project, or industry results, 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
include, but are not limited to, statements regarding the Company’s
intentions regarding the development and advancement of the
Chvaletice Project in the Czech Republic, the ability of the
Company to secure funding from EIB or any broader funding package
to finance the Project, continuing support from EIB, continuing
support from MSP and its partners, anticipated environmental
benefits from the Project, and that the Project represents an
important circular economy-based source of high purity manganese
and will supply the battery value chain with a key raw
material.
Readers are cautioned not to place undue
reliance on forward-looking information or statements.
Forward-looking statements are subject to a number of risks and
uncertainties that may cause the actual results of the Company to
differ materially from those discussed in the forward-looking
statements and, even if such actual results are realized or
substantially realized, there can be no assurance that they will
have the expected consequences to, or effects on, the Company.
All forward-looking statements are made based on
the Company's current beliefs including various assumptions made by
the Company, including that: the Company can achieve its goals;
that the political and community environment in which the Company
operates in will continue to support the development and operation
of the Company’s projects; and assumptions related to the factors
set out herein. Factors that could cause actual results or events
to differ materially from current expectations include, among other
things, risks and uncertainties related to the availability of
acceptable financing; the ability to meet conditions of secured
financing and risks related to security; the ability to obtain,
amend, or maintain necessary licenses, or permits; risks related to
acquisition of surface rights; changes in laws or regulations; and
regulation by various governmental agencies. For a further
discussion of risks relevant to the Company, see "Risk Factors" in
the Company's annual information form for the year ended September
30, 2023, available on the Company's SEDAR profile at
www.sedarplus.ca
Although the forward-looking statements
contained in this news release are based upon what management of
the Company believes are reasonable assumptions, the Company cannot
assure investors that actual results will be consistent with these
forward-looking statements. These forward-looking statements are
made as of the date of this news release 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.
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https://www.eib.org/en/projects/pipelines/all/20220372
Grafico Azioni Euro Manganese (TG:E06)
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Da Ago 2024 a Set 2024
Grafico Azioni Euro Manganese (TG:E06)
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Da Set 2023 a Set 2024