Manganese X Energy Corp. Reports Key Achievements and Outlines 2024 Strategies
In This Article:
Montreal, Quebec--(Newsfile Corp. - January 17, 2024) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC) (TRADEGATE: 9SC) (OTCQB: MNXXF) (the "Company" or "Manganese X") celebrates significant milestones in 2023, marking notable progress for the Battery Hill manganese project near Woodstock, New Brunswick.
The Company progresses towards becoming the first publicly traded mining company in Canada and the US to commercialize high-purity EV-compliant manganese.
Martin Kepman, CEO of Manganese X, shares his future outlook: "As we navigate the dynamic landscape of EV investments, the Canadian government's ambitious transition plan sets a compelling stage. The infusion of $35 billion into significant EV battery production facilities further underscores the industry's momentum. Research firm BloombergNEF's recognition of manganese's pivotal role in EV battery cathode chemistries affirms our strategic focus.
"Looking ahead, the anticipated shortage of high-purity manganese by 2030 places Manganese X at the forefront. We stand poised to address this challenge, positioning ourselves as a major supplier to the burgeoning North American EV and energy storage supply chain. This aligns seamlessly with our commitment to drive innovation and contribute significantly to the sustainable evolution of the electric vehicle sector."
2024 Strategies and Goals
Pilot Plant Project
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Complete pilot plant project in Q1, validating and optimizing patent-pending technology to ensure the most cost-efficient and effective methods are utilized in the Battery Hill pre-feasibility study
End User Verification
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Test EV-compliant, high-purity manganese samples for North American supply chain pre-approval
Partnerships and Offtake Agreements
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Continue with Memorandum of Understanding ("MOU") (see news release dated January 10, 2024), confirm with C4V, a US battery technology leader, that the Company's HPMSM meets specifications, and secure a binding offtake agreement
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Continue ongoing negotiations with potential customers for future HPMSM production
Environmental and Pre-Feasibility Related Studies
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Continue environmental, social/community, and geotechnical studies to support the upcoming pre-feasibility study for the Battery Hill deposit
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Complete life cycle assessment studies for environmental impact assessment to assist with project development decisions, highlight potential areas for improvements, and form an essential component in negotiations with potential partners
Pre-Feasibility Study ("PFS")