Euro Manganese Reports Third Fiscal Quarter 2024 Financial Results
2024年8月15日 - 7:30AM
Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQB: EUMNF; Frankfurt:
E06) (the "Company" or "EMN") today announced financial results and
key developments during the third fiscal quarter and to date. The
Company has now filed its June 30, 2024, third fiscal quarter
Financial Statements and Management’s Discussion and Analysis. Euro
Manganese’s fiscal year end is September 30.
Key Developments During and Subsequent
to the Quarter
Chvaletice Project, Czech
Republic
- Successful
completion of commissioning of the Company’s high-purity manganese
Demonstration Plant at its Chvaletice Manganese Project
("Chvaletice Project" or the "Project"), allowing for the
production of bulk, multi-tonne finished product samples of
high-purity manganese sulphate (HPMSM) and high-purity manganese
metal (HPEMM) for prospective customers' supply chain
qualification.
- Completion of
an application for Strategic Project status with the EU Critical
Raw Materials Act (CRMA) to be submitted prior to the closing date
of August 22, 2024. The benefits of gaining Strategic Project
status include access to financing from private and public sources
of funding such as national promotional banks, the EIB, EBRD,
regional and national funding authorities, and private financial
institutions.
- Engagement with
the Investment and Business Development Agency of the Czech
Republic (CzechInvest) for an application to be made for Czech
government investment incentives, including potential cash grants
on eligible capital expenditures and income tax relief.
- Exploration of
an application, with the support of EIT InnoEnergy (EIT), to the EU
Innovation Fund’s next call for proposals which is expected to open
in Q4 2024. The EU Innovation Fund is one of the world’s largest
funding programmes for the demonstration of innovative low-carbon
technologies, funded by the EU Emissions Trading System. The
initial step is a viability check with a specialist
consultant.
Financial Position
- Cash and cash
equivalents of approximately C$13.2 million as at end of fiscal Q3
(June 30, 2024) compared to C$20.1 million as at end of fiscal Q2
(March 31, 2024).
- Working capital
of C$11.7 million as at end of fiscal Q3 (June 30, 2024) compared
with C$15.5 million as at end of fiscal Q2 (March 31, 2024).
Dr. Matthew James, President & CEO
of Euro Manganese, commented:
“We made continued progress in the third quarter
on a number of fronts. With the successful commissioning of our
high-purity manganese Demonstration Plant at the Chvaletice
Project, we are now capable of producing on-spec bulk samples for
customers' supply chain qualifications. This is crucial for our
ongoing offtake negotiations. The application for Strategic Project
status with the EU Critical Raw Materials Act and engagement with
CzechInvest help to position the Company for advantageous funding
and financial opportunities which would de-risk the financing and
development of the Chvaletice Project. Additionally, a successful
EU CRMA Strategic Project application would provide financial and
other support from a highly influential network of technology and
funding partners. As we continue discussions with potential offtake
clients, we are confident in our unique position as the only
manganese resource in the EU, poised to supply critical raw
materials for the energy transition.”
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 OTCQB.
--
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 &
CEOmjames@mn25.ca
LodeRock AdvisorsNeil WeberInvestor and Media
Relations – North America+1 (647)
222-0574neil.weber@loderockadvisors.com
Jane Morgan ManagementJane 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
1G8E-mail: info@mn25.ca 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, its Chvaletice
Manganese Project, its other growth strategies, 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 of the Chvaletice Project in
the Czech Republic, the ability to produce bulk samples of HPMSM
and/or HPEMM for prospective customers' supply chain qualification,
the ability to obtain strategic project status under the CRMA and
any associated benefits, obtain any grants, subsidies, or funding
from the EU, Czech state, or under any other program or
legislation, and the ability to de-risk the financing and
development of the Chvaletice Project.
These forward-looking statements are based on
management’s current expectations and beliefs, but given the
uncertainties, assumptions and risks, readers are cautioned not to
place undue reliance on such forward-looking statements or
information. Factors that could cause actual results or events to
differ materially from current expectations include, among other
things: insufficient working capital; the inability to raise
additional capital; inability to obtain grants, subsidies, or
funding from government or other programs; developments in the EV
markets and chemistries; and changes in laws or regulations 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 period ended September 30, 2023, available on the
Company's SEDAR+ profile at www.sedarplus.ca. 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.
Euro Manganese (TSXV:EMN)
過去 株価チャート
から 7 2024 まで 8 2024
Euro Manganese (TSXV:EMN)
過去 株価チャート
から 8 2023 まで 8 2024