Proactiveinvestors Australia Element 25 Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Element 25 Ltd RSS feed en Thu, 20 Jun 2019 21:49:22 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Element 25 completes shortfall placement of $1.39 capital raising ]]> https://www.proactiveinvestors.com.au/companies/news/222372/element-25-completes-shortfall-placement-of-139-capital-raising-222372.html Element 25 Ltd (ASX:E25) has completed a shortfall placement to sophisticated investors for funds of $472,000 taking total funds raised in its recent capital raising to $1.39 million.

The placement followed a share purchase plan (SPP) which closed in late May raising $918,000 and was conducted on the same terms.

Allotment of the new shares under the placement, which was completed using the company’s existing placement capacity under listing rule 7.1., occurred yesterday.

READ: Element 25 to accelerate manganese project PFS after raising $1.39 million

Proceeds will allow Element 25 to accelerate a pre-feasibility study (PFS) on the Butcherbird Manganese Project in the Pilbara region of Western Australia.

The company is developing Australia’s largest onshore manganese resource at this project to produce high-purity manganese products.

READ: Element calls in adviser for development funding at Butcherbird

Element 25 has this month appointed finance advisory group BurnVoir Corporate Finance to begin the process of arranging financing for development of Butcherbird.

BurnVoir has assisted in arranging development finance for a number of projects in the region, including Pilbara Minerals Ltd’s (ASX:PLS) Pilgangoora Lithium Project and Kalium Lakes Ltd’s (ASX:KLL) Beyondie Potash Project.

The advisory group will also play a role in supporting completion of the PFS this year, including the financial evaluation of the project.

READ: Element 25 signs final Native Title Agreement for Butcherbird Manganese Project

In May, Element 25 signed the final Native Title Agreement required for the grant M52/1074 and development of the project.

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Wed, 19 Jun 2019 08:39:00 +1000 https://www.proactiveinvestors.com.au/companies/news/222372/element-25-completes-shortfall-placement-of-139-capital-raising-222372.html
<![CDATA[News - Element calls in adviser for development funding at Butcherbird ]]> https://www.proactiveinvestors.com.au/companies/news/221825/element-calls-in-adviser-for-development-funding-at-butcherbird-221825.html Element 25 Ltd (ASX:E25) has appointed finance advisory group BurnVoir Corporate Finance to commence the process of arranging financing for the development of the Butcherbird Project in Western Australia.

BurnVoir has assisted in arranging development finance for a number of projects in the Pilbara region.

These projects include Pilbara Minerals Ltd’s (ASX:PLS) Pilgangoora Lithium Project and Kalium Lakes Ltd’s (ASX:KLL) Beyondie Potash Project.

A pre-feasibility study (PFS) is underway on the high-purity manganese project and BurnVoir will also play a role in supporting its completion this year.

READ: Element 25 signs final Native Title Agreement for Butcherbird Manganese Project

Element 25’s executive director Justin Brown said: “BurnVoir has extensive experience in arranging development funding for high quality projects such as the Butcherbird Project, and we look forward to working closely with them to identify and obtain the optimal funding mix.

“As the funding solution is progressively implemented, we anticipate increased recognition of the underlying value of the Butcherbird Project.

“Funding will proceed in parallel with the work on the Butcherbird Project.

“BurnVoir will initially assist in the completion of the pre-feasibility study, including the financial evaluation of the project.”

READ: Element 25 to accelerate manganese project PFS after raising almost $1.39 million

The company is developing Australia’s largest onshore manganese resource at the Butcherbird project to produce high-purity manganese products.

Earlier this month the company signed the final Native Title Agreement required for the grant M52/1074 and development of the Butcherbird project.

The agreement recognises the Nyiyaparli People as traditional owners of the land and the Karlka Nyiyaparli Aboriginal Corporation RNTBC (KNAC) as the registered body corporate in relation to the land.

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Tue, 11 Jun 2019 09:09:00 +1000 https://www.proactiveinvestors.com.au/companies/news/221825/element-calls-in-adviser-for-development-funding-at-butcherbird-221825.html
<![CDATA[News - Element 25 directors show confidence through share purchase plan participation ]]> https://www.proactiveinvestors.com.au/companies/news/221518/element-25-directors-show-confidence-through-share-purchase-plan-participation-221518.html Element 25 Ltd (ASX:E25) directors have participated in a share purchase plan (SPP) which raised almost $1.39 million to accelerate the pre-feasibility study at the Butcherbird Manganese Project in Western Australia.

Element 25 chairman Seamus Cornelius, executive director Justin Brown and non-executive director John Ribbons each increased the total number of securities held in the company.

Cornelius purchased 171,430 shares valued at $30,000 and now holds more than 3.45 million shares in direct and indirect interests.

Brown's participation involved the purchase of 342,860 shares valued at $60,000 and he now holds more than 5.25 million shares.

Ribbons outlayed $15,000 to acquire 85,715 shares and now holds 585,715 shares, also in direct and indirect interests.

READ: Element 25 to accelerate manganese project PFS after raising almost $1.39 million

The company closed its share purchase plan (SPP) after receiving commitment from sophisticated investors to raise $420,250.

The SPP and previous placement have collectively raised $1,338,250.

Allotment of the new shares is scheduled to occur on Friday, June 7, 2019.

READ: Element 25 amends agreement with Magmatic Resources for Mt Venn acquisition

Earlier this month the company signed the final Native Title Agreement required for the grant M52/1074 and development of the Butcherbird project.

The agreement recognises the Nyiyaparli People as traditional owners of the land and the Karlka Nyiyaparli Aboriginal Corporation RNTBC (KNAC) as the registered body corporate in relation to the land.

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Wed, 05 Jun 2019 14:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/221518/element-25-directors-show-confidence-through-share-purchase-plan-participation-221518.html
<![CDATA[News - Element 25 to accelerate manganese project PFS after raising almost $1.39 million ]]> https://www.proactiveinvestors.com.au/companies/news/221343/element-25-to-accelerate-manganese-project-pfs-after-raising-almost-139-million-221343.html Element 25 Ltd (ASX:E25) has closed its share purchase plan (SPP) after receiving commitments from sophisticated investors to raise $420,250.

The SPP and previous placement have collectively raised $1,338,250.

Proceeds will allow Element 25 to accelerate the pre-feasibility study (PFS) on the company’s Butcherbird Manganese Project in Western Australia.

READ: Element 25 signs final Native Title Agreement for Butcherbird Manganese Project

Allotment of the new shares is scheduled to occur on June 7, 2019.

The placement will be completed using the company’s existing placement capacity under listing rule 7.1.

Earlier this month the company signed the final Native Title Agreement required for the grant M52/1074 and development of the Butcherbird project.

The agreement with the Karlka Nyiyaparli Aboriginal Corporation RNTBC (KNAC) recognises the Nyiyaparli People as traditional owners of the land and KNAC as the registered native title body corporate in relation to the land.

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Mon, 03 Jun 2019 12:44:00 +1000 https://www.proactiveinvestors.com.au/companies/news/221343/element-25-to-accelerate-manganese-project-pfs-after-raising-almost-139-million-221343.html
<![CDATA[News - Element 25 signs final Native Title Agreement for Butcherbird Manganese Project ]]> https://www.proactiveinvestors.com.au/companies/news/221173/element-25-signs-final-native-title-agreement-for-butcherbird-manganese-project-221173.html Element 25 Ltd (ASX:E25) has signed the final Native Title Agreement required for the grant of M52/1074 and development of the Butcherbird Manganese Project in Western Australia.

The agreement with the Karlka Nyiyaparli Aboriginal Corporation RNTBC (KNAC) recognises the Nyiyaparli People as traditional owners of the land and KNAC as the registered native title body corporate in relation to the land.

It also provides a mutually beneficial relationship by providing opportunities for KNAC and the Nyiyaparli People to participate in the project including future royalties.

READ: Element 25 amends agreement with Magmatic Resources for Mt Venn acquisition

Element 25 executive director Justin Brown said: “The signing of the native title agreement with KNAC, together with the previous Native Title Agreement with the Ngarlawangga People who hold Native title over the western portion of E25’s lease application area, gives the company certainty in relation to the development of the Butcherbird Manganese Project.

“We look forward to building a strong relationship with both the Nyiyaparli and Ngarlawangga People as this long-life project comes to fruition.”

READ: Element 25 progressing PFS on budget and on time, drilling underway

The Butcherbird high purity manganese deposit is a world-class resource with current JORC-compliant resources in excess of 262 million tonnes of manganese ore.

Element 25 has completed a positive scoping study with respect to developing the deposit to produce high purity manganese sulphate for lithium-ion battery cathodes as well as electrolytic manganese metal for specialty steels.

The company now aims to progress as quickly as possible towards the grant of M52/1074 which will be another important milestone for the company.

A PFS is being completed and is expected to confirm the commercial potential of the project.

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Thu, 30 May 2019 10:31:00 +1000 https://www.proactiveinvestors.com.au/companies/news/221173/element-25-signs-final-native-title-agreement-for-butcherbird-manganese-project-221173.html
<![CDATA[News - Element 25 amends agreement with Magmatic Resources for Mt Venn acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/221102/element-25-amends-agreement-with-magmatic-resources-for-mt-venn-acquisition-221102.html Element 25 Ltd (ASX:E25) has agreed to amend the terms of a binding agreement with Magmatic Resources (ASX:MAG) to acquire the Mt Venn Copper-Nickel-Cobalt Project near Laverton in Western Australia.

The companies have waived the requirement for Magmatic to spend a minimum of $500,000 on exploration in consideration for the issue of 2 million unlisted options.

READ: Element 25 progressing PFS on budget and on time, drilling underway

These options are exercisable at 3 cents on or before five years from the issue date.

Magmatic has confirmed that it has met the following monetary terms of the binding agreement:

Payment of $250,000 in cash to Element; and Issue of $425,000 in ordinary fully paid Magmatic shares.

Magmatic has also been granted new tenement licence E38/3351, adding to its Laverton/Yamarna regional project portfolio. which includes:

Yamarna Gold Project – 20 kilometres from the 6 million ounce Gruyere mine, which is under construction: 1 granted tenement and 2 exploration tenements under application; and Mt Venn Copper-Nickel-Cobalt Project: 2 granted tenements (1 newly granted). ]]>
Wed, 29 May 2019 16:18:00 +1000 https://www.proactiveinvestors.com.au/companies/news/221102/element-25-amends-agreement-with-magmatic-resources-for-mt-venn-acquisition-221102.html
<![CDATA[News - Element 25 progressing PFS on budget and on time, drilling underway ]]> https://www.proactiveinvestors.com.au/companies/news/220262/element-25-progressing-pfs-on-budget-and-on-time-drilling-underway-220262.html Element 25 Ltd (ASX:E25) has commenced an exploration aircore drilling program as part of the ongoing pre-feasibility study (PFS) at its Butcherbird Manganese Project in Western Australia.

The target area has been defined based on the results of a detailed, ground based gravity survey conducted in 2018.

Other PFS work progressing include the Native Title Agreement where key terms have been agreed and final execution is pending, underground water investigations, and flora and fauna studies.

Notably, no threatened ecological communities, priority ecological communities or threatened flora has been recorded.

READ: Element 25 debuts $1.5 million Butcherbird manganese PFS capital raising

With regard to mine planning, preliminary work has commenced on the updated 2019 resource estimate.

This work includes open pit optimisation, mine design and mine scheduling and results from this work will be used for contractor pricing estimates for the PFS.

A second round of open pit optimisation, design and scheduling is planned at the end of the PFS, which will form the basis of a maiden ore reserve.

Recent resource upgrade boosts project potential

Last month, Element 25 confirmed the world-class status of the Butcherbird High Purity Manganese Project with a 34% increase in the manganese resource to 26.3 million tonnes.

A revised resource estimate has been prepared for four of the seven known manganese deposits at the project in the Pilbara region - Coodamudgie, Mundawindi, Richies and Yanneri Ridge.

The Butcherbird resource now stands at 263 million tonnes at 10% manganese and this will underpin calculation of a maiden reserve.

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Wed, 15 May 2019 10:32:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220262/element-25-progressing-pfs-on-budget-and-on-time-drilling-underway-220262.html
<![CDATA[News - Element 25 debuts $1.5 million Butcherbird manganese PFS capital raising ]]> https://www.proactiveinvestors.com.au/companies/news/219831/element-25-debuts-15-million-butcherbird-manganese-pfs-capital-raising-219831.html Element 25 Ltd (ASX:E25) (FRA:QFP) has launched a $1.5 million share purchase plan targeted at its existing investors.

The capital raising prices new shares at 17.5 cents each, with shareholders that were registered to Australian, German, Hong Kong, Chinese and New Zealand addresses yesterday eligible to take up the offer.

READ: Element 25 boosts Butcherbird manganese resource 34% to 26.3 million tonnes

Element 25 executive director Justin Brown said today: “The additional funds under the share purchase plan (SPP) will be applied to a variety of purposes.

“Principally (they) will be applied to the completion of the company’s pre-feasibility study (PFS) to assess in more detail the pathway to commercialisation for the company’s 100%-owned Butcherbird manganese resource and for working capital purposes.”

Test work from Butcherbird ore has produced very high purity 99.95% manganese metal.

The company previously known as Montezuma Mining Company (ASX:MZM) has been working towards a 2019 delivery of its PFS for the project.

In April 2019 Element 25 upped the manganese resource for the project by 34% to 26.3 million tonnes.

READ: Element 25 secures $700,000 cash and royalty in non-core divestment

Shareholders can subscribe for up to $15,000 worth of fully paid ordinary shares in Element 25.

If shareholders are deemed a custodian for another party, they can nominate other beneficiaries for the offer.

Element 25 highlighted its offer was also an opportunity for shareholders without markeable parcels of shares to increase their stakes to tradeable quantities.

The offer will open on Friday, while the closing date for subscriptions is May 24, 2019.

New shares are expected to be despatched about May 30, 2019 and traded the next day.

 

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Tue, 07 May 2019 20:05:00 +1000 https://www.proactiveinvestors.com.au/companies/news/219831/element-25-debuts-15-million-butcherbird-manganese-pfs-capital-raising-219831.html
<![CDATA[News - Element 25 boosts Butcherbird manganese resource 34% to 26.3 million tonnes ]]> https://www.proactiveinvestors.com.au/companies/news/218630/element-25-boosts-butcherbird-manganese-resource-34-to-263-million-tonnes-218630.html Element 25 Ltd (ASX:E25) has confirmed the world-class status of the Butcherbird High Purity Manganese Project in WA with a 34% increase in the manganese resource to 26.3 million tonnes.

A revised resource estimate has been prepared for four of the seven known manganese deposits at the project in the Pilbara region - Coodamudgie, Mundawindi, Richies and Yanneri Ridge.

Maiden reserve to be calculated

The Butcherbird resource now stands at 263 million tonnes at 10% manganese and this will underpin calculation of a maiden reserve as part of pre-feasibility study (PFS) work.

Shares are up almost 12% intra-day to 19 cents.

IHC Robbins Pty Ltd was engaged to assist with the geological modelling, resource estimation and JORC technical reporting.

The Yanneri Ridge resource has been upgraded to 105 million tonnes at 10.1% manganese, including 16 million tonnes at 11.6% in the measured category, 41 million indicated tonnes at 10% and 47% million inferred tonnes at 9.7%.

Electrolytic manganese metal flakes produced from test work.

READ: Element 25 completes PFS metallurgical drilling at Butcherbird Manganese Project

This work follows completion of an aircore drilling program in December 2018, which focused on Yanneri Ridge.

IHC Robbins coupled this with an improved approach to the geological interpretation, grade interpolation and a slightly lower cut-off grade than used for the previous estimate.

This reflects the increased metallurgical understanding gained since the last resource was published, with particular focus on the hydrometallurgical processing pathway developed in conjunction with CSIRO in 2017.

The updated estimate compares with the previous resources for the Butcherbird project of 181 million tonnes at 10.8% manganese for total contained metal of 19.5 million tonnes.

Further test work has shown that this material is suitable to be used as feedstock for the hydrometallurgical processing flowsheet in the PFS.

Many years of plant feed

Ore in the measured and indicated classifications is expected to provide sufficient material for the high purity manganese PFS base case.

The PFS is expected to confirm economics around the production of high-purity electrolytic manganese metal and battery-grade manganese sulphate.

READ: Element 25 secures $700,000 cash and royalty in non-core divestment

Butcherbird is about 1,065 kilometres northeast from Perth and 120 kilometres south from the township of Newman.

The project straddles the Great Northern Highway and the Goldfields Gas Pipeline,  providing turnkey logistics and energy solutions.

Element 25 intends to integrate renewable energy into the power solution to minimise the carbon intensity of the project as well as further reducing energy costs.

The company has completed a positive scoping study with respect to developing the project.

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Tue, 16 Apr 2019 11:45:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218630/element-25-boosts-butcherbird-manganese-resource-34-to-263-million-tonnes-218630.html
<![CDATA[News - Element 25 secures $700,000 cash and royalty in non-core divestment ]]> https://www.proactiveinvestors.com.au/companies/news/218279/element-25-secures-700000-cash-and-royalty-in-non-core-divestment-218279.html Element 25 Ltd (ASX:E25) has reached agreement with St Barbara Ltd (ASX:SBM) for the sale of its Green Dam Project in Western Australia.

Pursuant to the sale agreement, St Barbara will acquire 100% of the Green Dam Project for $700,00 cash.

Share in future exploration success

St Barbara will also grant Element 25 a 2% net smelter royalty on all future production from the Green Dam Project.

The retained royalty ensures that shareholders will benefit from future exploration success as St Barbara takes the project forward.

Importantly, the additional cash will provide important working capital as Element 25 completes the pre-feasibility work at its 100% owned Butcherbird High Purity Manganese Project in Western Australia.

 

The asset sale represents another important incremental step in Element 25’s stated strategy to rationalise its project portfolio to allow the technical team to focus on the development of the high purity manganese business at Butcherbird.

READ: Element 25 completes PFS metallurgical drilling at Butcherbird Manganese Project

The company recently completed metallurgical drilling to extract bulk sample material for test work at its Butcherbird Manganese Project.

This program was undertaken as part of Butcherbird's ongoing pre-feasibility study and was also designed to demonstrate the scalability of the processing flowsheet developed in conjunction with the CSIRO.

The PFS, which aims to confirm the commercial potential of the project, is scheduled for completion in mid-2019.

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Wed, 10 Apr 2019 11:13:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218279/element-25-secures-700000-cash-and-royalty-in-non-core-divestment-218279.html
<![CDATA[Media files - Element 25 obtains funding to evaluate renewable energy sources for manganese production ]]> https://www.proactiveinvestors.com.au/companies/stocktube/12737/element-25-obtains-funding-to-evaluate-renewable-energy-sources-for-manganese-production-12737.html Wed, 27 Mar 2019 00:44:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/12737/element-25-obtains-funding-to-evaluate-renewable-energy-sources-for-manganese-production-12737.html <![CDATA[News - Element 25 Ltd gets funding from ARENA for manganese project ]]> https://www.proactiveinvestors.com.au/companies/news/217173/element-25-ltd-gets-funding-from-arena-for-manganese-project-217173.html Element 25 Ltd (ASX:E25) has been awarded $490,000 to assist with the demonstration of the viability of Intermittent Dynamic Electrowinning (IDE) technology.

This represents half the $980,000 budget the company plans to invest in evaluating this technology as a possible renewable power source for the Butcherbird Project in Western Australia.

The goal is to maximise project economics by increasing renewable energy penetration for the production of high purity metals, specifically electrolytic manganese metal (EMM),

PFS work to date has shown that whilst the availability of natural gas at Butcherbird provides a robust base case for power, a combination of wind, solar and gas would increase economics.

READ: Element 25 completes PFS metallurgical drilling at Butcherbird Manganese Project

E25’s executive director Justin Brown said: “The company is pleased to partner with ARENA on this exciting aspect of work at Butcherbird.

“Whilst we already have a strong base case using a gas only power solution, this grant funding will add further value to the world class Butcherbird High Purity Manganese Project by helping it to become a long-term producer of potentially the world’s cleanest, greenest high purity manganese products at bottom quartile costs powered with renewable energy.”

The Australian Renewable Energy Agency (ARENA) is an independent government agency that invests billions of dollars into renewable energy projects.

Murdoch University to undertake test work

The test work will be undertaken at Murdoch University’s extractive metallurgy division.

The outcomes of the work will be incorporated into the company’s PFS, currently in progress and scheduled for completion in 2019.

The success of pilot activities will enable the implementation of a low cost, low emissions solution for the Butcherbird Project, and the potential rollout to other metal producers in Australia.

The future possible benefits include an increase in downstream metals processing in Australia with multiplier effects on the economy.

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Tue, 26 Mar 2019 12:05:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217173/element-25-ltd-gets-funding-from-arena-for-manganese-project-217173.html
<![CDATA[News - Element 25 enters trading halt with update on funding agreement imminent ]]> https://www.proactiveinvestors.com.au/companies/news/216994/element-25-enters-trading-halt-with-update-on-funding-agreement-imminent-216994.html Element 25 Ltd (ASX:E25) has been granted a trading halt by the ASX pending release of an announcement relating to a funding agreement that is material to the company.

Shares in the company will remain halted until the earlier of, the release of relevant information, or, the commencement of trading on Tuesday 26 March 2019.

READ: Element 25 completes PFS metallurgical drilling at Butcherbird Manganese Project

The company recently completed metallurgical drilling to extract bulk sample material for test work at its Butcherbird Manganese Project in Western Australia.

This program was undertaken as part of Butcherbird's ongoing pre-feasibility study (PFS) and was also designed to demonstrate the scalability of the processing flowsheet developed in conjunction with the CSIRO.

The PFS, which aims to confirm the commercial potential of the project, is scheduled for completion in mid-2019.

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Fri, 22 Mar 2019 14:54:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216994/element-25-enters-trading-halt-with-update-on-funding-agreement-imminent-216994.html
<![CDATA[News - Element 25 completes PFS metallurgical drilling at Butcherbird Manganese Project ]]> https://www.proactiveinvestors.com.au/companies/news/215267/element-25-completes-pfs-metallurgical-drilling-at-butcherbird-manganese-project-215267.html Element 25 Ltd (ASX:E25) has completed metallurgical drilling to extract bulk sample material for test work at its Butcherbird Manganese Project in Western Australia.

This program was undertaken as part of Butcherbird's ongoing pre-feasibility study and was also designed to demonstrate the scalability of the processing flowsheet developed in conjunction with the CSIRO.

The PFS, which aims to confirm the commercial potential of the project, is scheduled for completion in mid-2019.

A total of 13 diamond holes were completed for 340.1 metres and these were located to provide data across the first 20 years of the mine plan, focusing particularly on the initial five years.

READ: Element 25 on track for March quarter delivery of Butcherbird manganese PFS

Three holes were drilled for geotechnical assessment of the planned wind farm outside the mining area and the remaining holes were drilled to inform the pit design process, as well as to provide samples for detailed metallurgical test work.

To date, the company has completed a positive scoping study to develop the deposit for production of high-purity manganese sulphate for lithium-ion battery cathodes, as well as high-purity electrolytic manganese metal for use in certain specialty steels.

The company has produced high purity electrolytic manganese metal grading 99.95% from Butcherbird Manganese core samples.

Butcherbird's flow sheet efficiently extracts manganese (about 95% extraction in 30 minutes) into solution to produce high-purity manganese including battery-grade manganese sulphate and high-purity electrolytic manganese metal.

READ: Element 25 Butcherbird testwork produces very high-purity 99.95% manganese metal

Element 25 executive director Justin Brown said at the time: “These results are outstanding, to achieve such a high purity on our first attempt to scale-up the flow sheet is remarkable and bodes well for the project's future.”

The work was completed by Simulus Laboratories under the supervision of PPM global senior metallurgist Tim Porter.

Element 25 is also intending to integrate significant renewable energy into the power solution to minimise the carbon intensity of the project as well as further reducing energy costs. 

- Jessica Cummins

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Mon, 25 Feb 2019 19:57:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215267/element-25-completes-pfs-metallurgical-drilling-at-butcherbird-manganese-project-215267.html
<![CDATA[News - Element 25 targets June half-year delivery of Butcherbird manganese PFS ]]> https://www.proactiveinvestors.com.au/companies/news/214498/element-25-targets-june-half-year-delivery-of-butcherbird-manganese-pfs-214498.html Element 25 Ltd (ASX:E25) (FRA:QFP) specialises in manganese exploration and development in Western Australia. It is run by Justin Brown, a geologist with a strong technical background in activities that span minerals exploration through to mine production. Brown is an experienced director and served on the board of Exterra Resources Ltd before it merged with Anova Metals Ltd (ASX:AWV).

What does Element 25 own?

The key asset is the large Butcherbird Manganese Project which lies 130 kilometres south of the Pilbara town of Newman and 1,050 kilometres north of Perth.

Element 25’s flagship project in WA’s Southern Pilbara sub-region features a high-purity JORC resource of 180.8 million tonnes of manganese ore grading 10.8% manganese, 43.9% silica, 11.7% iron, 0.3% phosphorus pentoxide and 10.9% aluminium oxide.

The resource was updated to JORC 2012 standards in October 2017.

Element 25 is completing a pre-feasibility study (PFS) for the wholly-owned project and told the Proactive Investors Stocktube video channel this week it was on track to produce the study this quarter.

During test work, the company produced high-purity electrolytic manganese metal (HPEMM) grading 99.95% manganese from Butcherbird core samples after working with CSIRO on a scale-up of its processing flowsheet.

Element 25’s core strategy is to produce HPEMM and manganese sulphate for use in specialty metals and lithium-ion battery cathodes.

Before releasing the study the company is due to update its resource model during the June 2019 half-year.

Element 25 has tipped it expects the model will form the basis of a maiden ore reserve to be unveiled with the PFS.

The company recently completed 6,672 metres of additional aircore drilling at the project.

It expects results from its 2018 drilling program will help it upgrade the planned starter pit at the project from 43% inferred and 68% indicated resources to indicated and measured status.

Element 25 hopes to put 25% of resources in the measured category and 75% in the indicated category in the study to serve an initial 20-year mine plan.

The company’s PFS is a follow-on from a positive 2018 scoping study for the project released in May 2018 when the company was known by its previous name Montezuma Mining Company (ASX:MZM).

Then Montezuma’s 2018 scoping study was designed to focus on open pit development and processing at Butcherbird’s Yanneri Ridge deposit.

Yanneri Ridge consists of 70.5 million tonnes at 11.1% manganese, 43.3% silica and 11.3% iron and includes indicated and inferred mineralisation.

The May 2018 scoping study modelled an economically and technically viable project with upside.

Later that month Montezuma became Element 25, naming itself after manganese, the 25th chemical element on the periodic table

The rebranded company then set a course to complete its fully-funded PFS.

It also set a budget for a definitive feasibility study (DFS) and targets for development.

These targets included applying for regulatory consents this year, with mine development targeted for the 2020-2021 time period.

The company told Stocktube it is partly funding its work program through the strategic sell-off of gold assets.

An October 2011 scoping study produced by Montezuma had previously valued a 0.5 to 1 million tonne operation at a net present value of up to $376 million, putting the project’s maximum IRR at up to 59%.

The study was based on Yanneri Ridge’s historical, inferred JORC resource of the time which was 64.7 million tonnes grading 11.2% manganese at an 8% manganese cut-off.

Montezuma’s Butcherbird ore-grading modelled in 2011 was a nominal 36% manganese while mine life was at least 10 years.

Element 25 also holds the Green Dam Gold Nickel Project near Kalgoorlie-Boulder in WA’s Goldfields-Esperance region.

The company’s updated Butcherbird resource model and PFS are expected by mid-year.

Inflection points

Butcherbird resource upgrade

Butcherbird maiden ore reserve and positive pre-feasibility study

Funding milestones for a budgeted Butcherbird definitive feasibility study

Expected price growth in the global manganese industry following two years of volatility

Executive director Justin Brown "very pleased"

“The proprietary process that we’ve developed with CSIRO for our Butcherbird ore was fantastically successful … 99.95% purity which is an outstanding result,” Element 25 executive director Justin Brown told the Proactive Investors Stocktube video channel this week. “We’re very pleased.”

 

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Tue, 12 Feb 2019 19:45:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214498/element-25-targets-june-half-year-delivery-of-butcherbird-manganese-pfs-214498.html
<![CDATA[Media files - Element 25 in 'enviable' position to fund development of Butcherbird Project ]]> https://www.proactiveinvestors.com.au/companies/stocktube/12182/element-25-in--enviable--position-to-fund-development-of-butcherbird-project-12182.html Tue, 12 Feb 2019 15:02:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/12182/element-25-in--enviable--position-to-fund-development-of-butcherbird-project-12182.html <![CDATA[News - Element 25 Butcherbird test work produces very high-purity 99.95% manganese metal ]]> https://www.proactiveinvestors.com.au/companies/news/214398/element-25-butcherbird-test-work-produces-very-high-purity-9995-manganese-metal-214398.html Element 25 Ltd (ASX:E25) has produced High Purity Electrolytic Manganese Metal (HPEMM) grading 99.95% manganese from Butcherbird Manganese Project core samples.

Test work utilised the proprietary E25 flowsheet for ore from Butcherbird with all impurities below acceptable limits for the production of metal.

Scale-up of flowsheet

This work was completed as part of a progressive scale-up of the processing flowsheet developed in conjunction with the CSIRO for the purpose of extracting manganese from Butcherbird ores.

READ: Element 25 produces high-purity electrolytic manganese metal in initial tests on Butcherbird ore

The company intends to produce high purity manganese, including battery-grade manganese sulphate and HPEMM.

Test work is being carried out as part of an ongoing pre-feasibility study (PFS), which is scheduled for completion later this year.

“Outstanding” results

Element 25’s executive director Justin Brown said “These results are outstanding. To achieve such a high purity on our first attempt to scale up the flowsheet is remarkable and bodes well for the project’s future.”

Hydrometallurgical leach processing and purification tests were conducted on representative PQ diamond core from four drill holes within the Yanneri Ridge resource area.

The work was undertaken by Simulus Laboratories under the supervision of PPM global senior metallurgist Tim Porter.

Chemical composition of the produced EMM based on impurity analysis.

Leach test work utilising Butcherbird ore produced about 270 litres of leach solution containing approximately 44 g/L manganese.

READ: Element 25 revising manganese estimate after completing Butcherbird infill drilling

Butcherbird in WA, south of Newman, is a world-class manganese resource with JORC resources in excess of 180 million tonnes of manganese ore.

The company said leaching and purification of the first bulk sample from Butcherbird ore was a key milestone in proving the viability of the industry-leading processing methodology.

In terms of purity, 99.95% manganese is well above the industry standard for EMM of 99.7%.

High-purity, 99.95% Electrolytic Manganese Metal (EMM) flakes produced in the tests.

Success of the test work to date further confirms the process flowsheet, which is a key enabling technology for Element 25’s strategy of producing high-value, high-purity, sustainably produced manganese products from Butcherbird.

Large sample being sourced

PQ diamond drilling is underway at the project to source about 6-tonnes of drill core for the next stage of scale-up test work incorporating multiple large-scale batch tests.

READ: Element 25 boosts regional gold portfolio with drill results

Through this work Element 25 aims to further optimise the process and gain an understanding of any local geometallurgical considerations that should be taken into account during process plant design.

A positive scoping study has been completed with respect to developing the deposit to produce high purity manganese sulphate for lithium-ion battery cathodes as well as HPEMM for use in certain specialty steels.

The PFS is expected to further confirm the commercial potential of the project.

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Tue, 12 Feb 2019 11:04:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214398/element-25-butcherbird-test-work-produces-very-high-purity-9995-manganese-metal-214398.html
<![CDATA[News - Element 25 boosts regional gold portfolio with drill results ]]> https://www.proactiveinvestors.com.au/companies/news/213554/element-25-boosts-regional-gold-portfolio-with-drill-results-213554.html Element 25 Ltd (ASX:E25) has received first-pass aircore drill results from its Green Dam Gold Nickel Project near Kalgoorlie in Western Australia.

49 shallow holes for 1,104 metres were completed to test a regionally extensive gold-in-soil anomaly in the southern area of the project known as the Flanker prospect.

Holes were drilled on a 600x100 metre grid over the 3x1.5 kilometre anomaly with highlights including 8 metres at 244 ppb gold from 16 metres depth.

Flanker is located 18 kilometres to the east of the 1.1 million ounce Bombora Gold Deposit owned by Breaker Resources NL (ASX:BRB).

Highlights included 8 metres at 244 ppb gold including 3 metres at 581 ppb (~0.6 g/t) gold

Airborne magnetic survey also completed at Green Dam

An airborne magnetic survey was completed of the entire Green Dam Project as an aide to structural interpretation and targeting.

The survey was flown at a nominal 100-metre line spacing and 40-metre sensor height.

The survey collected both magnetic and radiometric data sets.

READ: Element 25 revising manganese estimate after completing Butcherbird infill drilling

Green Dam is an emerging exploration level project with Element’s flagship project being its Butcherbird Manganese Project in Western Australia.

Last week, the company commenced preparing a revised manganese mineral resource estimate after completing 6,672 metres of aircore drilling at Butcherbird.

The estimate is expected to upgrade the planned starter pit at the project from the inferred and indicated categories to the indicated and measured status.

Butcherbird is a world-class manganese resource with current JORC-compliant resources in excess of 180 million tonnes of manganese ore.

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Wed, 30 Jan 2019 08:48:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213554/element-25-boosts-regional-gold-portfolio-with-drill-results-213554.html
<![CDATA[News - Element 25 revising manganese estimate after completing Butcherbird infill drilling ]]> https://www.proactiveinvestors.com.au/companies/news/213107/element-25-revising-manganese-estimate-after-completing-butcherbird-infill-drilling-213107.html Element 25 Ltd (ASX:E25) is preparing a revised manganese mineral resource estimate after completing 6,672 metres of aircore drilling at the Butcherbird project in WA.

The estimate is expected to upgrade the planned starter pit at the project from the inferred and indicated categories to the indicated and measured status.

Element 25 is targeting 25% measured and 75% indicated resources which would serve the initial 20-year mine plan.

READ: Element 25 produces high-purity electrolytic manganese metal in initial tests on Butcherbird ore

This work would form the basis for a maiden reserve statement, which is expected to be published as part of the project’s pre-feasibility study (PFS).

The Butcherbird high-purity deposit is a world-class manganese resource with current JORC-compliant resources in excess of 180 million tonnes of manganese ore.

Positive scoping study

A positive scoping study was received in respect of developing the deposit to produce high-purity manganese sulphate for lithium-ion battery cathodes and Electrolytic Manganese Metal for use in certain specialty steels.

There were 210 aircore holes drilled in the infill program which was completed in the December quarter of 2018.

Broad shallow intersections

Broad and shallow intersections were returned, including 22 metres at 15.2% manganese from 6 metres.

Other strong results were:

-        23 metres at 11.56% from 6 metres; -        24 metres at 11.86% from 5 metres; -        28 metres at 11.95% from 2 metres; -        28 metres at 11.71% from 1-metre; -        25 metres at 11.96% from 0 metres; -        21 metres at 12.36% from 0 metres; -        20 metres at 13.09% from 2 metres; and -        23 metres at 12.9% from 0 metres.

Assay results and geological logging of the holes both compare favourably with existing drilling data in terms of geology as well as mineralised widths and grades of the ore zone.

This confirms the robustness of the company’s understanding of the Yanneri Ridge deposit.

Infill drilling collar locations in relation to Yanneri Ridge and Coodamudgi resources and infrastructure.

Element 25 has appointed IHC Robbins, part of the Royal IHC Group, to undertake the updated resource estimate for Yanneri Ridge.

READ: Element 25 on track to complete Butcherbird high-purity manganese PFS in 2019

This deposit is the target area for ore supply to the proposed high-purity manganese processing plant which is the subject of the PFS.

The company is working on the PFS, which is expected to further confirm the project’s commercial potential.

Butcherbird project, south of Newman, straddles the Great Northern Highway and Goldfields Gas Pipeline, providing turnkey logistics and energy solutions.

Element 25 also intends to integrate renewable energy into the power solution to minimise the carbon intensity and reduce energy costs.

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Wed, 23 Jan 2019 10:12:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213107/element-25-revising-manganese-estimate-after-completing-butcherbird-infill-drilling-213107.html
<![CDATA[News - Element 25 produces high-purity electrolytic manganese metal in initial tests on Butcherbird ore ]]> https://www.proactiveinvestors.com.au/companies/news/210072/element-25-produces-high-purity-electrolytic-manganese-metal-in-initial-tests-on-butcherbird-ore-210072.html Element 25 Ltd (ASX:E25) has produced high-purity electrolytic manganese metal (EMM) in leach test work on ore from the company’s Butcherbird High Purity Manganese Project in Western Australia.

The initial sighter leach tests utilising Butcherbird ore produced about 13 litres of high-purity leach solution containing around 40 grams per litre manganese.

It is the first EMM to be produced from the project with all impurities being below acceptable limits for production of metal.

Electrolytic manganese metal composition with key impurities analysed by ICP-MS.

Two specialty products

Element 25 intends to produce high-purity manganese sulphate from Butcherbird for use in lithium-ion battery cathodes as well as EMM for use in certain specialty steels.

READ: Element 25 on track to complete Butcherbird high-purity manganese PFS in 2019

Butcherbird hosts Australia’s largest onshore manganese deposit with in excess of 180 million tonnes of manganese ore and is the focus of a pre-feasibility study (PFS) due for completion in mid-2019.

The tests were conducted on representative PQ diamond drill hole core samples from within the Yanneri Ridge resource area.

These were sub-samples of a larger bulk test sample comprising about 500 kilograms with this bulk sample currently being processed.

Sighter tests were completed with the intention of further optimising the front end of the Butcherbird processing flowsheet that has been developed in conjunction with the CSIRO.

READ: Element 25 commences infill drilling at Butcherbird

After the success of the optimisation tests, the larger sample has been leached and is being taken through the purification process following which EMM and battery-grade sulphate samples will be produced.

This work is expected to provide sufficient samples of both products for despatch to prospective offtake partners.

The electrowinning phase of the test work was undertaken at the Murdoch University research laboratory operated by the Extractive Metallurgy division.

The Murdoch University research laboratory and team members.

It was carried out by the Metallurgical Process – Research, Development and Innovation (MPI) group headed by Associate Professor Aleks Nikoloski.

READ: Element 25 takes $1 million cash from Holleton gold sale to Ramelius Resources Limited

Element 25 has completed a positive scoping study with respect to developing the deposit to produce high purity manganese sulphate as well as EMM.

The PFS is expected to further confirm the commercial potential of the project.

Butcherbird straddles the Great Northern Highway and the Goldfields Gas Pipeline providing turnkey logistics and energy solutions.

The company is intending to integrate renewable energy into the power solution to minimise the carbon intensity of the project as well as further reduce energy costs.

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Wed, 28 Nov 2018 10:39:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210072/element-25-produces-high-purity-electrolytic-manganese-metal-in-initial-tests-on-butcherbird-ore-210072.html
<![CDATA[News - Element 25 on track to complete Butcherbird high-purity manganese PFS in 2019 ]]> https://www.proactiveinvestors.com.au/companies/news/208179/element-25-on-track-to-complete-butcherbird-high-purity-manganese-pfs-in-2019-208179.html Element 25 Ltd (ASX:E25) is advancing multiple work streams towards the completion of a pre-feasibility study (PFS) at its Butcherbird High-Purity Manganese Project in Western Australia.

The PFS will assess in detail the pathway to commercialisation for Element’s manganese resource following strong scoping study results and growth forecasts in markets for high-purity manganese products.

Element intends to produce such products including manganese sulphate for lithium ion batteries and electrolytic manganese metal (EMM).

 

A number of consulting groups are undertaking or managing various aspects of the study and the PFS is on track to be complete within the timeframe of 18 months from May this year.

The recent sale of the company’s Holleton Gold Project has also generated $1 million in cash for Element, as well as a 1% net smelter royalty on future production.

In addition to cash reserves, the company holds securities in a number of listed companies which at the end of September was worth more than $8.2 million.

  READ: Element 25 commences infill drilling at Butcherbird

Resource development drilling programs to bring the resource to an indicated and measured status, as well as groundwater exploration work, were planned and programs-of-work were approved this quarter.

Drilling began earlier this month and will take about 4 weeks to complete.

All assays are expected in the December 2018 quarter and an updated resource model is expected to be released in the first quarter of 2019.

Element expects the updated resource model to form the basis of a maiden ore reserve due to be reported with the PFS.

READ: Element 25 takes $1 million cash from Holleton gold sale to Ramelius Resources Limited

The company is in discussion with several independent advisory groups to provide early-stage project financing services including initial engagement with potential funders and advice on available funding structures and strategies.

Advice received by Element so far indicates a pathway to project funding provided the PFS and definitive feasibility study (DFS) returns results similar to the scoping study.

READ: Element 25 selling non-core Holleton Gold Project to focus on manganese

Specialist consultants were engaged in the scoping study to determine a low-cost, low-emission energy solution and have been carried over into the PFS as part of a three-stage process.

The first stage was completed this quarter and evaluated the site’s plant scale and power-plant scale and reviewed options for power supply.

The outcome of stage I confirmed that the most economic energy mix for Butcherbird is likely to include a combination of gas, wind, and solar power to drive the electrowinning process.

Producing battery-grade high-purity manganese sulphate using Element’s process is exothermic and energy neutral, however, producing EMM requires large amounts of electrical energy.

Element intends to integrate substantial renewable energy into its power solution to minimise carbon intensity and further reduce costs.

Butcherbird infrastructure overview

  READ: Element 25 advancing high-purity manganese pre-feasibility study

Flowsheet upscaling test work is being conducted by Simulus and includes a program of small-scale optimisation followed by a bulk-leach of about 500 kilograms of samples from the Yanneri Ridge orebody.

Discussions are ongoing with CSIRO to agree on a structure to collaboratively develop and commercialise the process technology developed for Butcherbird.

The PFS includes an open pit “diggability” assessment, which has been completed by consultants 4DG, and a geotechnical drill program to evaluate open pit stability requirements.

The geotechnical drilling will be undertaken by Peter O’Bryan and Associates and will be part of a larger metallurgical diamond drill program scheduled for early 2019.

READ: Element 25 eyes growth in manganese demand from emerging battery revolution

MBS Environmental has been engaged to plan and manage the environmental permitting process and several programs have been designed for implementation in 2019.

Element has also begun engagement with traditional owners of the area to negotiate a native title agreement to allow the grant of a mining lease.

A heritage survey conducted in September cleared the area for infill drilling and infrastructure development.

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Tue, 30 Oct 2018 21:32:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208179/element-25-on-track-to-complete-butcherbird-high-purity-manganese-pfs-in-2019-208179.html
<![CDATA[News - Element 25 commences infill drilling at Butcherbird ]]> https://www.proactiveinvestors.com.au/companies/news/207509/element-25-commences-infill-drilling-at-butcherbird-207509.html Element 25 Ltd (ASX:E25) has commenced resource infill drilling at its 100% owned Butcherbird High Purity Manganese Project in Western Australia.

The 200-hole, 7,000-metre program aims to provide data for a revised JORC resource estimate.

The new resource is expected to upgrade the category at the planned starter pit area.

Ideally, this area will then go on to be upgraded to a maiden Ore Reserve, which is expected to be published with the pre-feasibility study (PFS).

READ:  Element 25 takes $1 million cash from Holleton gold sale to Ramelius Resources Limited

Element recently received $1 million in cash as a result of the completion of the sale of the Holleton Project to Ramelius Resources Ltd (ASX:RMS).

The sale agreement was signed back in July 2018, which outlined the $1 million cash consideration and a 1% net smelter royalty on all future production from the project.

The cash will provide important working capital whilst the royalty ensures that shareholders will benefit from future exploration success as the project is explored.

This transaction is in line with the company’s stated strategy to rationalise its project portfolio to allow the technical team to focus on the high purity manganese business at Butcherbird.

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Mon, 22 Oct 2018 09:22:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207509/element-25-commences-infill-drilling-at-butcherbird-207509.html
<![CDATA[News - Element 25 takes $1 million cash from Holleton gold sale to Ramelius Resources Limited ]]> https://www.proactiveinvestors.com.au/companies/news/207325/element-25-takes-1-million-cash-from-holleton-gold-sale-to-ramelius-resources-limited-207325.html Element 25 Ltd (ASX:E25) has banked $1 million from the sale of its Holleton Gold Project to Ramelius Resources Limited’s (ASX:RMS) wholly-owned RMS subsidiary Edna May Operations Pty Ltd (EMO).

Asset seller Element viewed the gold project as non-core and said today the sale funds would provide working capital to the business as it focused on manganese.

READ: Element 25 selling non-core Holleton Gold Project to focus on manganese

Element executive director Justin Brown said: “This transaction represents an important incremental step in the company’s stated strategy to rationalise its project portfolio to allow the technical team to focus on the high-purity manganese business at Butcherbird.”

Butcherbird is in the southern Pilbara subregion of Western Australia.

READ: Element 25 advancing high-purity manganese pre-feasibility study

Element, which traded as Montezuma Mining when it was focused on multi-metals, may enjoy returns from a trailing 1% net smelter royalty on all future production from Holleton project

Brown said: “The cash will provide important working capital whilst the royalty ensures that shareholders will benefit from future exploration success as EMO and RMS roll out their exploration programs.”

Holleton exploration licence application covers around 115 square kilometres of the Holleton Greenstone Belt, about 400 kilometres from Perth.

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Wed, 17 Oct 2018 18:23:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207325/element-25-takes-1-million-cash-from-holleton-gold-sale-to-ramelius-resources-limited-207325.html
<![CDATA[News - Element 25 selling non-core Holleton Gold Project to focus on manganese ]]> https://www.proactiveinvestors.com.au/companies/news/201867/element-25-selling-non-core-holleton-gold-project-to-focus-on-manganese-201867.html Element 25 Ltd (ASX:E25) is selling its non-core Holleton Gold Project in Western Australia to Ramelius Resources Limited’s (ASX:RMS) wholly-owned subsidiary Edna May Operations Pty Ltd (EMO).

Consideration for the sale is $1 million along with a 1% net smelter royalty (NSR) for Element 25 on all future production from the Holleton project.

READ: Element 25 eyes growth in manganese demand from emerging battery revolution

The sale is part of Element 25’s strategy to focus on the development potential of the high purity manganese business at the Butcherbird project in the Southern Pilbara region.

This strategy includes rationalising the company’s project portfolio.

Holleton exploration licence application covers around 115 square kilometres of the Holleton Greenstone Belt, about 400 kilometres east of Perth.

 

The consideration of $1 million is payable in cash, shares or any combination at EMO’s election.

Element 25 said it was very pleased with the outcome of the transaction.

The cash and/or share component would provide important working capital, the company said.

“The royalty ensures shareholders will benefit from future exploration success as EMO and RMS roll out their exploration programs.”

Sale conditions

The transaction is binding but remains subject to a number of conditions which must be satisfied or waived by both parties within 60 days of executing the agreement.

These include the transfer of existing permits and agreements to EMO.

Element 25 recently changed its name from Montezuma Mining as part of its transition from a diversified explorer to the developer of a world-class manganese project.

READ: Element 25 advancing high-purity manganese pre-feasibility study

The company has commenced all key work streams for a pre-feasibility study at its 100%-owned Butcherbird project.

The PFS is building on a 2018 scoping study that concluded Butcherbird has potential to be an economically viable producer of high-purity manganese sulphate for lithium-ion battery markets.

Simulus Engineering has been contracted to undertake a 600-kilogram bulk leach test program to further optimise process and produce samples for offtake discussions.

A key adviser has been appointed to provide consulting support in finding the optimal power strategy.

Discussions with prospective advisors are also progressing regarding project financing.

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Tue, 31 Jul 2018 09:14:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201867/element-25-selling-non-core-holleton-gold-project-to-focus-on-manganese-201867.html
<![CDATA[Media files - Element 25 uses innovative leach process to extract high-purity manganese ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9914/element-25-uses-innovative-leach-process-to-extract-high-purity-manganese-9914.html Mon, 23 Jul 2018 09:30:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9914/element-25-uses-innovative-leach-process-to-extract-high-purity-manganese-9914.html <![CDATA[News - Element 25 advancing high-purity manganese pre-feasibility study ]]> https://www.proactiveinvestors.com.au/companies/news/200531/element-25-advancing-high-purity-manganese-pre-feasibility-study-200531.html Element 25 Ltd (ASX:E25) has commenced all key work streams for its pre-feasibility study (PFS) at its 100% owned Butcherbird Manganese Project in Western Australia.

The PFS is building on the 2018 scoping study that concluded the project has potential to be an economically viable producer of high-purity manganese sulphate for lithium-ion battery markets.

Discussions continue with lithium-ion battery manufacturers on required specifications and quantities as a prelude to off-take negotiations.

READ: Element 25 eyes growth in manganese demand from emerging battery revolution

A number of appointments have been made and key work streams are underway.

Simulus Engineering has been contracted to undertake a 600-kilogram bulk leach test program to further optimise process and produce samples for off-take discussions.

A key adviser has been appointed to provide consulting support in finding the optimal power strategy.

Discussions with prospective advisors are also progressing regarding project financing.

READ: Montezuma Mining scoping study results support manganese mining operation

Work is also progressing well regarding environmental permitting, geotechnical assessment (which is complete), and Native Title.

Finally, discussions with the CSIRO regarding flowsheet development for processing is also being advanced.

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Wed, 11 Jul 2018 12:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200531/element-25-advancing-high-purity-manganese-pre-feasibility-study-200531.html
<![CDATA[News - Element 25 eyes growth in manganese demand from emerging battery revolution ]]> https://www.proactiveinvestors.com.au/companies/news/200431/element-25-eyes-growth-in-manganese-demand-from-emerging-battery-revolution-200431.html Element 25 Ltd (ASX:E25) is set to benefit from the strong demand growth forecast for high-purity manganese from the emerging battery revolution.

Element 25 recently changed its name from Montezuma Mining as part of its transition from a diversified explorer to the developer of a world-class manganese project.

The company owns the Butcherbird Manganese Project in Western Australia, the country’s largest onshore manganese resource containing 180 million tonnes grading 10.8% manganese.

READ: Montezuma Mining scoping study results support manganese mining operation

Demand for batteries is growing exponentially as global sales of electric vehicles are forecast to increase from 1.1 million in 2017 to 11 million in 2025.

By 2030 the increase of electric vehicles is expected to soar to a fleet of 30 million.

Cheapest solution for producers of battery technology

Current battery compositions contain various combinations of cobalt, nickel, manganese and aluminium.

Of these minerals, manganese offers the cheapest solution for producers of battery technology, being more than 43 times cheaper than cobalt. 

Whilst electric vehicles are commonly considered key for increasing battery consumption, off grid power storage is also a key demand driver.

With the increasing push to reduce pollution, countries are increasingly turning to renewable electricity generation.

Manganese is a vital component in steel making with no apparent substitute. It is defined by the United States Geological Survey (USGS) as a ‘critical metal’.

Whilst manganese demand is commonly associated as being reliant on steel consumption and steel market forces, this paradigm could shift over time as battery technology demand grows.

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Tue, 10 Jul 2018 14:03:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200431/element-25-eyes-growth-in-manganese-demand-from-emerging-battery-revolution-200431.html
<![CDATA[News - Montezuma Mining shareholders confirm name change to Element 25 ]]> https://www.proactiveinvestors.com.au/companies/news/196954/montezuma-mining-shareholders-confirm-name-change-to-element-25-196954.html Montezuma Mining Company Ltd (ASX:MZM) has received shareholder approval to change the company’s name and ticker to Element 25 Ltd (ASX:E25).

As of this coming Thursday, 17 May 2018 the company will trade under the ASX ticker E25.

READ: Montezuma Mining scoping study results support manganese mining operation

Last week, the company received scoping study results for its 100% owned Butcherbird Manganese Project in Western Australia.

The study was designed to focus on open pit development and processing of the Yanneri Ridge deposit within the project.

Significantly, the results indicate an economically and technically viable project with upside.

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Tue, 15 May 2018 08:18:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196954/montezuma-mining-shareholders-confirm-name-change-to-element-25-196954.html
<![CDATA[News - Montezuma Mining scoping study results support manganese mining operation ]]> https://www.proactiveinvestors.com.au/companies/news/196694/montezuma-mining-scoping-study-results-support-manganese-mining-operation-196694.html Montezuma Mining Company Ltd (ASX:MZM) has received scoping study results for its 100% owned Butcherbird Manganese Project in Western Australia.

The study was designed to focus on open pit development and processing of the Yanneri Ridge deposit within the project.

Significantly, the results indicate an economically and technically viable project with upside.

Montezuma will now aim to complete a pre-feasibility study (PFS) and apply for regulatory consents in 2018/2019, with development targeted in 2020/2021.

The company has sufficient capital to fund the completion of the PFS and definitive feasibility study as currently budgeted.

READ: Montezuma Mining to rename company Element 25

Montzeuma’s executive director Justin Brown said: "Following successful laboratory scale test work conducted by the CSIRO in 2017, Montezuma decided to accelerate the due diligence process and its own understanding of the Butcherbird Project by engaging experts to assist with a scoping study concerning development and mining of the Butcherbird.

“The results were encouraging and a clearer pathway to the project's development has been mapped out.

“Montezuma aims to complete a pre-feasibility study and progress the project towards development.

“We see great potential at the Butcherbird for increasing the resource and rapid mine development leading to Montezuma becoming a manganese producer in the near-term.”

Low-cost producer of manganese products

The scoping study confirms that the Butcherbird Manganese Project has the potential to become a low operating cost producer of electrolytic manganese metal and manganese sulphate.

The deployment of the low strip ratio, low mining cost mine, together with high recovery low cost atmospheric leaching, means that the project has the potential to be brought on line cost competitively.

By using the project’s substantial resource base, it can then expand into the growing battery minerals market.

In addition, the project straddles the sealed Great Northern Highway and Goldfields Gas Pipeline, minimising infrastructure costs.

Australia’s largest onshore manganese resource

The Butcherbird Manganese Project hosts Australia’s largest onshore manganese resource.

The project comprises of large tonnages of near-surface manganese oxide ore across eight deposits.

The global resource at Butcherbird stands at 180 million tonnes grading 10.8% manganese.

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Thu, 10 May 2018 11:51:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196694/montezuma-mining-scoping-study-results-support-manganese-mining-operation-196694.html
<![CDATA[News - Montezuma Mining Company in trading halt ahead of scoping study release ]]> https://www.proactiveinvestors.com.au/companies/news/196594/montezuma-mining-company-in-trading-halt-ahead-of-scoping-study-release-196594.html Montezuma Mining Company Ltd (ASX:MZM) has been granted a trading halt by the ASX pending the release of the Butcherbird Manganese Project scoping study.

The trading halt will remain in place until the scoping study results are released or the commencement of trading on Friday, whichever occurs first.

READ: Montezuma Mining to rename company Element 25

Montezuma’s priority focus is on the project development activities at its 100% owned Butcherbird Manganese Project in Western Australia.

Australia’s largest onshore manganese resource

The Butcherbird Manganese Project hosts Australia’s largest onshore manganese resource.

The project comprises of large tonnages of near-surface manganese oxide ore across eight deposits.

The global resource at Butcherbird stands at 180 million tonnes grading 10.8% manganese.

High purity manganese is used for lithium-ion battery production

Commodity market conditions for metals required for lithium-ion batteries, including high purity manganese have been strong.

Notably, whilst high purity manganese makes up only 10% of the manganese market by volume, it accounts for an estimated 40% of the total value in sales of the market.

Successful scoping study to lead to feasibility study

After positive results from test work in 2017, Montezuma initiated a scoping study to review the potential for the Butcherbird Manganese Project.

The company aims to produce a range of high-value manganese products on a commercial scale.

The study assessed the options for project development and provided an assessment of the potential capital and operating cost requirements for project development.

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Wed, 09 May 2018 09:33:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196594/montezuma-mining-company-in-trading-halt-ahead-of-scoping-study-release-196594.html
<![CDATA[News - Montezuma Mining to rename company Element 25 ]]> https://www.proactiveinvestors.com.au/companies/news/194473/montezuma-mining-to-rename-company-element-25-194473.html Montezuma Mining Company Ltd (ASX:MZM) is a diversified explorer focused on manganese, cobalt, lithium and gold.

It holds a number of multi-commodity exploration and mining tenements in Western Australia and France.

Montezuma’s priority focus is on the project development activities at its 100% owned Butcherbird Manganese Project in Western Australia.

Australia’s largest onshore manganese resource

The Butcherbird Manganese Project hosts Australia’s largest onshore manganese resource.

The project comprises of large tonnages of near-surface manganese oxide ore across eight deposits.

In October 2017, the company upgraded its resource to JORC 2012 standards.

READ: Montezuma Mining Company upgrades Butcherbird manganese resource

The global resource at Butcherbird stands at 180 million tonnes grading 10.8% manganese.

Yanneri Ridge deposit the focus of CSIRO studies

The resource upgrade also included a maiden Indicated resource at Yanneri Ridge of 22.4 million tonnes at 12.0% manganese.

This Indicated resources at Yanneri Ridge has been the focus of initial scoping studies on completion of metallurgical flow sheet design program being conducted by the CSIRO.

The flow sheet developed for Butcherbird is unique in that it is conducted at atmospheric pressure, ambient temperature and at a coarse grind size, all of which reduce costs over traditional approaches.

Manganese in the form of electrolytic manganese dioxide (EMD) is a key ingredient in several types of widely used battery technologies.

Ability to produce high-value manganese products

Whilst high purity manganese makes up only 10% of the manganese market by volume, it accounts for an estimated 40% of the total value in sales of the market.

The production of high purity products from Butcherbird ores allows Montezuma to initiate commercial studies into becoming a producer of high-value products rather than attempting to compete in the traditional bulk commodity manganese markets.

The flow sheet developed for Butcherbird is unique in that it is conducted at atmospheric pressure, ambient temperature and at a coarse grind size, all of which reduce costs over traditional approaches.

Following the success of the investigations, Montezuma and CSIRO have initiated discussions to enter into a collaborative framework to pursue opportunities to commercialise the technology outside of the Butcherbird Project.

Scoping study is underway

After positive results from test work in 2017, Montezuma initiated a scoping study to review the potential for the Butcherbird Manganese Project.

The company aims to produce a range of high-value manganese products on a commercial scale.

The study will assess the options for project development and provide an assessment of the potential capital and operating cost requirements for project development.

READ: Montezuma Mining prepares to reveal manganese scoping study results

Montezuma is scheduled to present the results of the scoping study at the 121 Mining Investment Forum in Hong Kong on the 23-24 April 2018.

In the event that a successful scoping study is delivered, a decision to proceed to a preliminary feasibility study will be considered.

Large multi-commodity portfolio

The company’s portfolio of projects includes:

• Butcherbird Manganese Project, Western Australia;
• Butcherbird Copper Project, Western Australia;
• Pinnacles Cobalt Nickel Project, Western Australia;
• Lake Johnston Lithium Project, Western Australia;
• Holleton Gold Project, Western Australia;
• Green Dam Project, Western Australia;
• Mt Padbury Project, Western Australia; and
• Bonneval Gold Project, France.

The Pinnacles Cobalt Nickel Project contains high grade near surface cobalt mineralisation over broad zones as well as hosting a priority un-drilled nickel sulphide target.

The Lake Johnson Lithium project is prospective for near surface pegmatite hosted lithium mineralisation and first pass reconnaissance work has confirmed this potential.

The Holleton Project contains a number of priority gold targets, including a 2.5-kilometre-long high tenor auger and aircore anomaly.

Only three deep holes have been drilled at the anomaly all of which intersected broad zones of gold mineralisation with individual grades of up to 7 g/t.

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Mon, 09 Apr 2018 13:52:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194473/montezuma-mining-to-rename-company-element-25-194473.html
<![CDATA[News - Montezuma Mining prepares to reveal manganese scoping study results ]]> https://www.proactiveinvestors.com.au/companies/news/194466/montezuma-mining-prepares-to-reveal-manganese-scoping-study-results-194466.html Montezuma Mining Company Ltd (ASX:MZM) is on schedule to release scoping study results this month for its Butcherbird Manganese Project located in Western Australia.

The company aims to produce a range of high-value manganese products on a commercial scale.

The study will assess the options for project development and provide an assessment of the potential capital and operating cost requirements for project development.

Results to be presented at Hong Kong mining conference

Montezuma is scheduled to present the results of the scoping study at the 121 Mining Investment Forum in Hong Kong on the 23-24 April 2018.

In the event that a successful scoping study is delivered, a decision to proceed to a preliminary feasibility study will be considered.

Montezuma intends to expedite this process to take advantage of strong market conditions.

High purity manganese is used for lithium-ion battery production

Commodity market conditions for metals required for lithium-ion batteries, including high purity manganese have been strong.

Notably, whilst high purity manganese makes up only 10% of the manganese market by volume, it accounts for an estimated 40% of the total value in sales of the market.

READ: Montezuma Mining Company expedites manganese project with mining lease application

Last month, Montezuma submitted a mining lease application covering key portions of the  Butcherbird Manganese resource.

Butcherbird hosts Australia’s largest onshore manganese resource in multiple outcropping deposits.

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Mon, 09 Apr 2018 10:07:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194466/montezuma-mining-prepares-to-reveal-manganese-scoping-study-results-194466.html
<![CDATA[News - Montezuma Mining does deal with Magmatic Resources for Mt Venn ]]> https://www.proactiveinvestors.com.au/companies/news/193121/montezuma-mining-does-deal-with-magmatic-resources-for-mt-venn-193121.html Montezuma Mining Company Ltd (ASX:MZM) has entered a binding agreement with Magmatic Resources Ltd (ASX:MAG) to sell an exploration tenement at the Mt Venn intrusion, Western Australia.

The deal is structured for a win-win outcome between the two companies in that Magmatic gets a high priority project and Montezuma remains leveraged to its upside.

On acquisition, Montezuma will receive $250,000 cash and $425,000 worth of Magmatic shares.

Notably, Montezuma can receive further payments of up to 6.4 million if Magmatic reaches various milestones.

Magmatic must spend $500,000 within 18 months

Fortunately for Montezuma, it has a number of higher priority projects in its portfolio than Mt Venn.

However, Mt Venn is a project with growing potential, as seen by neighbouring explorer, Great Boulder Resources Ltd (ASX:GBR).

Great Boulder has intersected wide zones of primary copper-nickel-cobalt sulphide mineralisation which included intersections of 48 metres at 0.75% copper, 0.2% nickel and 0.07% cobalt.

READ: Great Boulder Resources confirms copper-nickel-cobalt discovery and will expedite development

The deal keeps Montezuma leveraged to the project’s success and it also states that Magmatic must spend $500,000 within 18 months.

This ensures exploration funding is utilised by Magmatic to explore the project’s potential.

Montezuma can receive up to $6.4 million in further payments

The Mt Venn project, or E38/2961 sale, is bound by the following terms:

• On acquisition Magmatic will pay Montezuma A$250,000 in cash and A$425,000 in MAG shares;
• Should Magmatic define a JORC resource of 20 million tonnes at 1% copper equivalent, Magmatic will pay Montezuma A$350,000 cash and A$350,000 in MAG shares;
• Should Magmatic make a decision to mine, it will pay to Montezuma A$350,000 cash and A$350,000 in MAG shares;
•  Montezuma will retain a 2.0% net smelter royalty (NSR) on production at E38/2961 but Magmatic can buyback the option for A$5 million cash; and
• Magmatic must expend a minimum of A$500,000 on exploration at E38/2961 within the first 18 months following acquisition and must pay Montezuma the difference if it spends less.

READ: Montezuma Mining Company expedites manganese project with mining lease application

Montezuma Mining recently initiated a scoping study to review the potential for the Butcherbird Manganese Project located in Western Australia.

The company aims to produce a range of high-value manganese products on a commercial scale.

The study will assess the options for project development and provide an assessment of the potential capital and operating cost requirements for project development.

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Wed, 14 Mar 2018 15:15:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193121/montezuma-mining-does-deal-with-magmatic-resources-for-mt-venn-193121.html
<![CDATA[News - Montezuma Mining Company expedites manganese project with mining lease application ]]> https://www.proactiveinvestors.com.au/companies/news/192385/montezuma-mining-company-expedites-manganese-project-with-mining-lease-application-192385.html Montezuma Mining Company Ltd (ASX:MZM) recently initiated a scoping study to review the potential for the Butcherbird Manganese Project located in Western Australia.

The company aims to produce a range of high-value manganese products on a commercial scale.

The study will assess the options for project development and provide an assessment of the potential capital and operating cost requirements for project development.

Application for mining lease

Montezuma is working to expedite this process to take advantage of buoyant conditions commodity markets.

As part of the integrated activities required to progress the project, a mining lease application has been submitted.

This will cover the Yanneri Ridge and Coodamudgi manganese deposits.

Yanneri Ridge identified as optimum location

The Yanneri Ridge manganese deposit was identified during resource definition work and a more recent mining study as the optimum location to commence mining operations.

This will potentially include the production of high purity battery grade manganese via the company’s hydrometallurgical process developed in conjunction with the CSIRO.

READ: Montezuma Mining Company results show high-purity, battery-grade manganese CSIRO data could unlock large volumes

The work that has been completed by CSIRO has successfully developed a hydrometallurgical flowsheet which can unlock the large volume of manganese metal.

This could potentially position Montezuma to be a producer of high purity, high-value manganese products.

Deposits located close to infrastructure

The Yanneri Ridge and Coodamudgi deposits are close to infrastructure.

The mining lease application will contain all critical mining and production infrastructure and will support a mine life of more than 20 years.

Exploration work will continue within the broader exploration licence areas.

There will be a focus on further resource definition, water resourcing and testing conceptual targets for new sources of high-grade manganese ore.

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Thu, 01 Mar 2018 10:13:00 +1100 https://www.proactiveinvestors.com.au/companies/news/192385/montezuma-mining-company-expedites-manganese-project-with-mining-lease-application-192385.html
<![CDATA[News - Montezuma Mining engages consultants for manganese commercial studies ]]> https://www.proactiveinvestors.com.au/companies/news/191471/montezuma-mining-engages-consultants-for-manganese-commercial-studies-191471.html Montezuma Mining Company Ltd (ASX:MZM) has appointed two consulting groups to carry out key sections of commercial studies for the Butcherbird Manganese Project in Western Australia.

Simulus Engineers will complete the initial study into the hydrometallurgical plant design.

This work will assess the commercial and engineering parameters around the scale-up of the hydrometallurgical flowsheet.

Study of manganese markets

Metal Bulletin will provide a study of the high purity manganese markets including price and volume assessments taking into account current trends and projected future trends.

This study will look at EMM, EMD and manganese sulphate for lithium-ion batteries.

READ: Montezuma Mining Company assesses options to produce high purity manganese

In late 2017 Montezuma advised that test work on the hydrometallurgical processing of Butcherbird ores had exceeded expectations and achieved the required specification to produce high purity manganese products.

Work is part of scoping study

Last month the company announced the start of a scoping study into the production of high purity manganese using the innovative hydrometallurgical processing route it developed in conjunction with CSIRO.

The scoping study is expected to take up to six months to complete and if it delivers positive results, Montezuma will consider a decision to proceed to a preliminary feasibility study.

Strong markets for lithium-ion battery materials

Montezuma aims to take advantage of strong commodity market conditions, particularly relating to metals required for lithium-ion batteries, including high purity manganese.

Butcherbird has a total resource of 180.8 million tonnes at 10.8% manganese with 22.5 million tonnes at 12% manganese in the indicated category.

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Mon, 12 Feb 2018 08:58:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191471/montezuma-mining-engages-consultants-for-manganese-commercial-studies-191471.html
<![CDATA[News - Montezuma Mining Company assesses options to produce high purity manganese ]]> https://www.proactiveinvestors.com.au/companies/news/190054/montezuma-mining-company-assesses-options-to-produce-high-purity-manganese-190054.html Montezuma Mining Company Ltd (ASX:MZM) has started a scoping study to assess production of high purity manganese from the Butcherbird Project in Western Australia.

The study will assess the options for project development and provide an assessment of potential capital and operating cost requirements.

An internal review of the potential to produce a range of high-value manganese products on a commercial scale triggered the decision to immediately begin the study.

READ: Montezuma Mining Company results show high-purity, battery-grade manganese

The review followed test work by CSIRO on the hydrometallurgical processing of ores from Butcherbird.

A unique flowsheet was developed which can unlock the large volume of manganese metal contained within the project’s deposits.

It outlines a process conducted at atmospheric pressure, ambient temperature and at a coarse grind size, all of which reduced costs over traditional approaches.

Test work exceeds expectations

The work exceeded expectations and achieved the required specification to produce high purity manganese products.

Whilst high purity manganese makes up only 10% of the manganese market by volume, it accounts for an estimated 40% of the total value in sales of the market.

Justin Brown, executive director, said: “The low cost chemical processes required to process our ore have been established.

“We are excited to now move into the commercial assessment phase to show the market the real potential that this project offers.”

Experienced consultant will manage study

Montezuma has appointed experienced mining consultant Ian Huitson to manage the scoping study.

He has more than 30 years’ experience in the mining industry working in operations and project development, including for Gulf Manganese, Consolidated Minerals and Shaw River Manganese.

The scoping study is expected to take up to six months to complete.

Experienced mining engineers Asia Pacific Mining Solutions has completed preliminary pit optimisations for the study.

If the study delivers positive results, the company will consider a decision to proceed to a preliminary feasibility study.

Strong markets for lithium ion battery metals

Montezuma intends to expedite this process to take advantage of strong commodity market conditions, particularly relating to metals required for lithium ion batteries, including high purity manganese.

Production of high value products would transition Montezuma from a large tonnage, low margin business opportunity to a lower risk, low tonnage, high margin business.

Butcherbird has a total resource of 180.8 million tonnes at 10.8% manganese with 22.5 million tonnes at 12% manganese in the indicated category.

Multi-commodity portfolio of projects

Montezuma holds a number of multi-commodity exploration and mining tenements in Western Australia and France.

Its portfolio includes:

- Holleton Gold Project, Western Australia;

- Butcherbird Manganese Project, Western Australia;

- Butcherbird Copper Project, Western Australia;

- Lake Johnston Lithium Project, Western Australia;

- Pinnacles Cobalt Project, Western Australia;

- Green Dam Project, Western Australia;

- Mt Padbury Project, Western Australia; and

- Bonneval Gold Project, France.

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Tue, 16 Jan 2018 10:13:00 +1100 https://www.proactiveinvestors.com.au/companies/news/190054/montezuma-mining-company-assesses-options-to-produce-high-purity-manganese-190054.html
<![CDATA[News - Montezuma Mining Company results show high-purity, battery-grade manganese ]]> https://www.proactiveinvestors.com.au/companies/news/187609/montezuma-mining-company-results-show-high-purity-battery-grade-manganese-187609.html Montezuma Mining Company Ltd (ASX:MZM) has received more results from test work on the design of a hydrometallurgical flowsheet for its 100% owned Butcherbird Manganese Project in Western Australia.

Test work yielded a pregnant leach solution (PLS) that exceeded industry specifications for the production of desired marketable manganese products.

These products include battery grade manganese sulphate, electrolytic manganese metal (EMM) and electrolytic manganese dioxide (EMD).

The impurity levels for all key contaminants are well below their respective limits.

The new test results follow-up the July results which produced a PLS with in excess of 90% manganese purity.

READ: Montezuma Mining Company test results exceed expectations

Justin Brown, director, commented: “The process flowsheet design work conducted this year has been a resounding success and positions Montezuma for a potentially company making phase as we transition this technology breakthrough into a real world commercial setting to unlock the value of this very large manganese resource .”

Targeting lithium-ion battery cathode manufacturers

Work is now focussed on the production of a crystalline manganese sulphate product from the PLS that meets the specifications of lithium-ion battery cathode manufacturers.

Very low levels of certain impurities such as arsenic, lead and cadmium suggest good potential to also explore product options in the agricultural sector.

High-purity Manganese is valuable

Whilst high purity manganese makes up only 10% of the manganese market by volume, it accounts for an estimated 40% of the total value in sales of the market.

The production of high purity products from Butcherbird ores allows Montezuma to initiate commercial studies into becoming a producer of high-value products rather than attempting to compete in the traditional bulk commodity manganese markets.

The flow sheet developed for Butcherbird is unique in that it is conducted at atmospheric pressure, ambient temperature and at a coarse grind size, all of which reduce costs over traditional approaches.

Following the success of the investigations, Montezuma and CSIRO have initiated discussions to enter into a collaborative framework to pursue opportunities to commercialise the technology outside of the Butcherbird Project.

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Wed, 22 Nov 2017 09:39:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187609/montezuma-mining-company-results-show-high-purity-battery-grade-manganese-187609.html
<![CDATA[News - Montezuma Mining Company shares continue to rise ]]> https://www.proactiveinvestors.com.au/companies/news/186462/montezuma-mining-company-shares-continue-to-rise-186462.html Montezuma Mining Company (ASX:MZM) shares have doubled over the past three months, currently priced at $0.27.

The company is developing the 100% owned Butcherbird Manganese Project located in Western Australia, the largest onshore Manganese deposit in Australia.

The aim is to produce a high-purity manganese product for use in lithium-ion batteries.

Earlier this month, Montezuma upgraded its resource to JORC 2012 standards at Butcherbird which also increased the global resource by 2.7%.

READ NOW: Montezuma Mining Company upgrades Butcherbird manganese resource

The global resource including all deposits drilled to date now stands at 180 million tonnes grading 10.8% manganese.

Butcherbird comprises of large tonnages of near-surface manganese oxide ore across eight deposits.

During the quarter, the CSIRO completed Stage 1, the leach optimisation stage, of its hydrometallurgical processing studies to produce high-value battery materials from Butcherbird.

READ NOW: Montezuma Mining Company test results exceed expectations

Stage 2 leach purification studies have commenced and results are expected during the current December quarter.

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Tue, 31 Oct 2017 16:32:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186462/montezuma-mining-company-shares-continue-to-rise-186462.html
<![CDATA[News - Montezuma Mining Company reveals high-grade gold anomaly ]]> https://www.proactiveinvestors.com.au/companies/news/185771/montezuma-mining-company-reveals-high-grade-gold-anomaly-185771.html Montezuma Mining Company (ASX:MZM) has successfully completed an induced polarisation (IP) survey at its 100% owned Holleton Gold Project in southwest Western Australia.

Historical drilling at the targeted Brahma prospect shows that higher grade gold zones are typically associated with higher sulphide content.

The purpose of the IP survey was to test whether the technique can be used to target areas with higher sulphide concentrations along the identified gold anomaly at the Brahma prospect.

The survey has been successful in highlighting the highest priority part of the 2.5 kilometre long geochemical anomaly.

Planning is now underway to design a drilling program to test the anomaly and other targets within the Holleton Project.

Anomaly at least 300 metres long

The results of the survey confirmed a high amplitude chargeability anomaly located to the north of the basement geochemical expression.

The anomaly plunges to the west and is located under circa 60 metres of interpreted cover.

The known extent of the anomaly extends over 300 metres and is open along strike in both directions.

On section, the anomaly overlaps the previous drilling and shows a weaker chargeability response coincident with the gold and sulphide mineralisation on the same section.

Importantly, directly above the chargeability anomaly, there is a surface gold geochemical signature which appears to be ‘bleeding’ through the transported cover.

READ: Montezuma Mining Company upgrades Butcherbird manganese resource ]]>
Wed, 18 Oct 2017 17:13:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185771/montezuma-mining-company-reveals-high-grade-gold-anomaly-185771.html
<![CDATA[News - Montezuma Mining Company upgrades Butcherbird manganese resource ]]> https://www.proactiveinvestors.com.au/companies/news/185471/montezuma-mining-company-upgrades-butcherbird-manganese-resource-185471.html Montezuma Mining Company (ASX:MZM) has upgraded its resource to JORC 2012 standards for its 100% owned Butcherbird Manganese Project located in Western Australia.

The global resource including all deposits drilled to date increased 2.7% and now stands at 180 million tonnes at 10.8% manganese.

This also includes a maiden Indicated resource at Yanneri Ridge of 22.4 million tonnes at 12.0% manganese.

This Indicated resources at Yanneri Ridge will be the focus of initial scoping studies on completion of metallurgical flowsheet design program being conducted by the CSIRO.

Justin Brown, director, commented: “Upgrading the Butcherbird manganese resource to JORC 2012 and the conversion of parts of Yanneri Ridge from Inferred to Indicated categories adds to our confidence that this is a technically robust mineral deposit with simple geology, low strip ratios and significant potential to underpin the Company’s transition from explorer to developer in the medium term.”

Butcherbird Manganese Project

The Butcherbird Manganese Project hosts Australia’s largest onshore manganese resource.

The project comprises of large tonnages of near surface manganese oxide ore across eight deposits.

The current resource upgrade has increased the global resource from a JORC 2004 classification to JORC 2012 classification.

Manganese in the form of electrolytic manganese dioxide (EMD) is a key ingredient in several types of widely used battery technologies.

Earlier this year, Montezuma completed studies into the production of high purity manganese products from Butcherbird with positive results.

READ NOW: Montezuma Mining Company test results exceed expectations

The project also has some excellent infrastructure advantages with a gas pipeline and main bitumen highway passing directly adjacent to and through the project.

Project portfolio

While Montezuma recently outlined it would be divesting its Yarmarna Project located in Western Australia, it holds a number of multi-commodity exploration and mining tenements in Western Australia and France.

Its portfolio includes:

- Yamarna Gold Project, Western Australia;
- Holleton Gold Project, Western Australia;
- Butcherbird Manganese Project, Western Australia;
- Butcherbird Copper Project, Western Australia;
- Lake Johnston Lithium Project, Western Australia;
- Pinnacles Cobalt Project, Western Australia;
- Green Dam Project, Western Australia;
- Mt Padbury Project, Western Australia; and
- Bonneval Gold Project, France.

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Thu, 12 Oct 2017 15:11:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185471/montezuma-mining-company-upgrades-butcherbird-manganese-resource-185471.html
<![CDATA[News - Montezuma Mining Company realises value from non-core asset ]]> https://www.proactiveinvestors.com.au/companies/news/185376/montezuma-mining-company-realises-value-from-non-core-asset-185376.html Montezuma Mining Company Ltd (ASX:MZM) has divested the Yamarna Project for $150,000 in cash to Gold Road (North Yamarna) Pty Limited.

The deal also has Gold Road agreeing to pay Montezuma a discovery payment of $7.50 per resource ounce on future discoveries within the area covered by E38/2889.

Gold Road must prepare a resource statement on at least an annual basis and pay the discovery payment on each troy ounce of gold added to the resource within 45 days of the update being finalised.

Analysis

This transaction provides Montezuma with free-carry on any future discoveries, delivering a potential upside for no risk.

Montezuma now continue to advance its commercialisation activities at the high purity Butcherbird Manganese Project, the Pinnacles Cobalt Project      as well as other key portfolio assets.

The company remains well-funded with $4.2 million in cash at the end of June 2017, and listed investments of circa $7 million.

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Wed, 11 Oct 2017 13:13:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185376/montezuma-mining-company-realises-value-from-non-core-asset-185376.html
<![CDATA[News - Montezuma Mining Company wraps up survey over gold target ]]> https://www.proactiveinvestors.com.au/companies/news/183785/montezuma-mining-company-wraps-up-survey-over-gold-target-183785.html Montezuma Mining Company Ltd (ASX:MZM) has completed a successful dipole-dipole array induced polarisation (IP) orientation survey at the company’s wholly-owned Holleton Gold Project in Western Australia.

The purpose of the survey was to test whether the technique can be used to target areas with higher sulphide concentrations along the 2 kilometre long basement gold anomaly at the Brahma Prospect.

There has been little historical drilling, with only three holes drilled deeper than 40 metres, with highlights including: 73 metres at 0.3g/t gold.

Montezuma noted that the results of the survey indicate that a larger scale IP survey along the entire 2 kilometre strike length of the Brahma gold target may be the most cost effective method to generate drill targets and expedite the identification of potentially higher grade zones at Brahma.

Portfolio

Montezuma has 100% interests in the Yamarna Gold Project in the Yamarna Greenstone Belt, the Holleton Gold Project in the Wheat Belt region and the Butcherbird Manganese/Copper Project in the Murchison region, all located in Western Australia.

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Tue, 12 Sep 2017 10:41:00 +1000 https://www.proactiveinvestors.com.au/companies/news/183785/montezuma-mining-company-wraps-up-survey-over-gold-target-183785.html
<![CDATA[News - Montezuma Mining's executive director Justin Brown boosts stake on-market ]]> https://www.proactiveinvestors.com.au/companies/news/183026/montezuma-mining-s-executive-director-justin-brown-boosts-stake-on-market-183026.html Montezuma Mining Company Ltd's (ASX:MZM) executive director, Justin Brown, has increased his stake in the company after purchasing 100,000 shares at $0.165 on-market.

Brown now has a direct and indirect stake of circa 4.4 million shares.

Montezuma holds cash and assets exceeding in total $10 million, yet has a market cap of $13 million, providing an enterprise value of just $3 million.

Recent drilling revealed high-grade cobalt from the Pinnacles project.

READ NOW: Montezuma Mining drills high-grade cobalt ]]>
Mon, 28 Aug 2017 12:04:00 +1000 https://www.proactiveinvestors.com.au/companies/news/183026/montezuma-mining-s-executive-director-justin-brown-boosts-stake-on-market-183026.html
<![CDATA[News - Montezuma Mining Company drills high-grade cobalt at Pinnacles Project ]]> https://www.proactiveinvestors.com.au/companies/news/182708/montezuma-mining-company-drills-high-grade-cobalt-at-pinnacles-project-182708.html Montezuma Mining Company Ltd's (ASX:MZM) latest drilling assays have revealed high-grade mineralisation up to 0.45% cobalt, within a broad downhole intercept of: 14 metres at 0.15% cobalt from its wholly-owned Pinnacles Project in Western Australia.

The goal of the reconnaissance drilling program was to investigate a number of multi-commodity targets, which also included nickel and gold.

In addition to confirming historic work, the samples obtained will be the focus of first pass metallurgical testing to establish whether the laterite ores at Pinnacles are amendable to low capital cost processing pathways.

READ: Montezuma Mining Company test results exceed expectations Montezuma's value-add portfolio

Montezuma is well-funded with over $4 million in cash at the end of June 2017, but the company's listed investments are often over looked in a valuation scenario.

The company owns a portfolio of listed securities, with the biggest holding the liquid Danakali Ltd (ASX:DNK).

Montezuma holds 7.5 million Danakali shares which are worth around $5 million, and adding further intrigue are the 2.3 million in-the-money $0.35 options. (Danakali last traded at $0.65).

 

Not to be forgotten are smaller investments worth over another A$1 million spread across: Buxton Resources Ltd (ASX:BUX), Duketon Mining Ltd (ASX:DKM), Exterra Resources Ltd (ASX:EXC), Auris Minerals Ltd (ASX:AUR) and Lefroy Exploration Ltd (ASX:LEX).

Montezuma has a market cap of circa $13 million, and with cash and assets of at least $10 million, the company's enterprise value is just a couple of million dollars.

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Mon, 21 Aug 2017 14:32:00 +1000 https://www.proactiveinvestors.com.au/companies/news/182708/montezuma-mining-company-drills-high-grade-cobalt-at-pinnacles-project-182708.html
<![CDATA[News - Montezuma Mining Company test results exceed expectations ]]> https://www.proactiveinvestors.com.au/companies/news/181671/montezuma-mining-company-test-results-exceed-expectations-181671.html Montezuma Mining Company (ASX:MZM) has completed Stage 1 studies into the production of high purity manganese products from its 100% owned Butcherbird Project in Western Australia.

The results received from the leach optimisation stage conducted by the CSIRO have exceeded expectations.

Final leaching results produce a solution with over 91% manganese purity with over 95% manganese extraction.

The research is focused on hydrometallurgical processing studies to produce high-value battery materials from the Butcherbird Manganese Deposit.

The Butcherbird Manganese Deposit is Australia’s largest onshore manganese resource comprising large tonnages of near surface manganese oxide ore in seven deposits.

Battery-grade manganese

Manganese in the form of electrolytic manganese dioxide (EMD) is a key ingredient in several types of widely used battery technologies.

These include lithium-ion, alkaline and zinc-carbon, and the next generation lithiated manganese dioxide batteries, with cathodes comprising over 60% manganese compared to circa 4% lithium.

Industry observers expect the global electrolytic manganese dioxide (EMD) market to reach US$635.7 million by 2022 with a projected compound annual growth rate of 4.9% from 2015 to 2022.

Growth in demand from the battery manufacturing industry is expected to drive projected demand curves as technological advancements in wind and solar power generation and the need for associated grid electrical storage systems expands.

Test work result details

Early test work involving a range of hydrometallurgical options, including impurity leaching to generate a concentrate, and direct leaching of manganese, showed very encouraging results.

In particular, the first tests using selected reductive leaching, designed by CSIRO scientists, yielded excellent manganese leaching results, rapid leach kinetics (>95% manganese extraction in 30 minutes), and impressive selectivity over key impurities.

Subsequent work focused on optimising the leach protocols and confirmed that it is possible to achieve these results at atmospheric pressure and ambient temperature at coarse grind sizes without the need to add sulphuric acid for pH control.

Discussions are in progress to define the scope of work for Stage 2 studies on further purification and production of a final value added product.

Butcherbird is part of a large project portfolio

Montezuma holds a number of multi-commodity exploration and mining tenements in Western Australia and France.

Its portfolio includes:

- Yamarna Gold Project, Western Australia;
- Holleton Gold Project, Western Australia;
- Butcherbird Manganese Project, Western Australia;
- Butcherbird Copper Project, Western Australia;
- Lake Johnston Lithium Project, Western Australia;
- Pinnacles Project, Western Australia;
- Green Dam Project, Western Australia;
- Mt Padbury Project, Western Australia; and
- Bonneval Gold Project, France.

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Mon, 31 Jul 2017 12:52:00 +1000 https://www.proactiveinvestors.com.au/companies/news/181671/montezuma-mining-company-test-results-exceed-expectations-181671.html
<![CDATA[News - Montezuma Mining Company Ltd in land access agreement at Holleton ]]> https://www.proactiveinvestors.com.au/companies/news/181611/montezuma-mining-company-ltd-in-land-access-agreement-at-holleton-181611.html Montezuma Mining Company Ltd (ASX:MZM) has now entered into a land access agreement allowing exploration to commence at Holleton in Western Australia.

Previous exploration by Independence Group NL included a regional surface geochemical program that defined a number of gold anomalies across an area of poorly exposed greenstones.

Follow-up drilling across these anomalies was typically first-pass in nature with many intersections left open.

The best of the historic results is at the Brahma Prospect included a >2.5 kilometre long, >50ppb gold in soil anomaly.

Consideration for the access

Montezuma will provide consideration to the landowners of a 1% Net Smelter Royalty on future production.

The company also agrees to pay compensation for any crop lost due to the impact of the exploration, as well as further compensation calculated on a per Ha basis for any land permanently lost due to mining activities.

Intriguing valuation

Montezuma holds over $4.1 million in cash, and its listed investments at the end of June 2017 were valued at $7.1 million.

The value of the investments has swelled, as Montezuma holds 7.5 million Danakali (ASX:DNK) shares which have doubled over the past 12-months to $0.70, making the stake worth circa $5.7 million.

The cash and investments total $11 million, which is the same as the company's market cap, therefore providing an enterprise value of zero.

Yet Montezuma has 100% interests in the Holleton and Yamarna Gold Projects, the Butcherbird Manganese/Copper Project, the Pinnacles Cobalt-Nickel Project, and the Lake Johnston Lithium-Gold Project, which are all located in Western Australia.

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Fri, 28 Jul 2017 13:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/181611/montezuma-mining-company-ltd-in-land-access-agreement-at-holleton-181611.html
<![CDATA[News - Montezuma Mining Company drills out cobalt-nickel project ]]> https://www.proactiveinvestors.com.au/companies/news/181175/montezuma-mining-company-drills-out-cobalt-nickel-project-181175.html Montezuma Mining Company (ASX:MZM) has completed its 8-hole, 1,335-metre reverse circulation drilling program at the 100% owned Pinnacles Cobalt-Nickel Project in Western Australia.

Drilling was testing multiple target types including nickel sulphide, cobalt and gold.

All samples have been submitted to the laboratory and assays are pending.

Significantly, drill hole one testing an electromagnetic (EM) anomaly intersected 200 metres of ultramafic rocks featuring bands of cloud sulphide with elevated nickel values.

The nickel values were measured using a handheld XRF analyser gun.

Nickel sulphide targets

Two EM conductors were tested, one of which is located beneath a historical sulphide intercept of 2 metres at 2.3% nickel.

XRF analysis has suggested elevated nickel grades in hole one and furthermore, hole four intersected 53 metres of sulphides, which may be prospective for other metals.

Cobalt and gold targets

Drilling has been completed with the objective of confirming high-grade cobalt identified in historical drilling including intercepts of 16 metres at 0.27% cobalt from 18 metres.

Preliminary handheld XRF analysis has indicated significant shallow cobalt mineralisation over about 40 metres downhole.

Regarding gold targets, historical work failed to analyse for gold in almost all drill holes however strong arsenic anomalism is clearly defined over significant strike lengths.

Drilling has been aimed at testing for gold association within the arsenic enriched rocks.

Project portfolio

Montezuma holds a number of multi-commodity exploration and mining tenements in Western Australia and France.

Its portfolio includes:

- Yamarna Gold Project, Western Australia;
- Holleton Gold Project, Western Australia;
- Butcherbird Manganese Project, Western Australia;
- Butcherbird Copper Project, Western Australia;
- Lake Johnston Lithium Project, Western Australia;
- Pinnacles Project, Western Australia;
- Green Dam Project, Western Australia;
- Mt Padbury Project, Western Australia; and
- Bonneval Gold Project, France.

The 100% owned Pinnacles Project is located 75 kilometres from Kalgoorlie, Western Australia.

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Thu, 20 Jul 2017 11:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/181175/montezuma-mining-company-drills-out-cobalt-nickel-project-181175.html
<![CDATA[News - Montezuma Mining Company see battery potential at Butcherbird ]]> https://www.proactiveinvestors.com.au/companies/news/178814/montezuma-mining-company-see-battery-potential-at-butcherbird-178814.html Montezuma Mining Company (ASX:MZM) has received successful results from its first phase of leach tests to produce electrolytic manganese dioxide from its Butcherbird Manganese Project in Western Australia.

Initial leaching results achieved >95% manganese extraction using Butcherbird ore with rapid leach kinetics and impressive leach selectivity before any flowsheet optimisation.

The test work confirms the potential for on-site hydrometallurgical options to add significant value to the Butcherbird Project.

Electrolytic manganese dioxide (EMD) is an important technology metal with over 90% of global consumption used in battery manufacturing.

This demand is expected to continue to grow due to the current and expected future growth in the global electric vehicle industry.


Background

Montezuma holds a number of multi-commodity exploration and mining tenements in Western Australia and France.

Its portfolio includes:

- Yamarna Gold Project, Western Australia;
- Holleton Gold Project, Western Australia;
- Butcherbird Manganese Project, Western Australia;
- Butcherbird Copper Project, Western Australia;
- Lake Johnston Lithium Project, Western Australia;
- Pinnacles Cobalt Project, Western Australia;
- Green Dam Project, Western Australia;
- Mt Padbury Project, Western Australia; and
- Bonneval Gold Project, France.


Butcherbird Manganese Project

The Butcherbird Manganese Deposit is Australia’s largest onshore manganese resource comprising large tonnages of near surface manganese oxide ore in seven deposits.

The project also has some excellent infrastructure advantages with a gas pipeline and main bitumen highway passing directly adjacent to and through the project.

The mineralisation occurs as supergene enrichment of a regional scale basal manganese shale which underlies much of the project area.

The shale beds are gently folded and where the folds approach the surface topography, supergene processes have significantly upgraded the manganese content to form a potential feedstock for further upstream processing.


Recent test work

A core focus of the of the hydrometallurgical leach test work involved investigating a range of hydrometallurgical options aimed at direct leaching of manganese from the Butcherbird ores as a precursor to EMD production.

The work to date has showed very encouraging results, in particular, first tests using selected reductive leaching protocols yielded excellent manganese leaching results.

In addition to the hydrometallurgical work, the scope of the test programme also involved ore beneficiation test work.

This involved looking at innovative ways to increase the primary beneficiation grades over and above the 33% manganese concentrates achieved to date in order to produce a higher value product stream for sale into the ferro-alloy markets.


Analysis

Industry observers expect the global EMD market to reach US$635.7 million by 2022 with a projected compound annual growth rate of 4.9% from 2015 to 2022.

Lithium-Ion battery cathodes contain up to 60% manganese, which is ~5 times the contained value and ~15 times the amount of contained lithium.

If EMD can be successfully produced from Butcherbird, which is Australia’s largest onshore manganese resource with in situ resources of over 170 million tonnes of manganiferous ore, the project’s value would increase significantly.


Intrguiing valuation

Montezuma offers an Intriguing valuation, considering a market cap. circa $12 million.

The company has no debt, yet holds cash of $4.3 million and investments of $7.9 million, providing an enterprise value of around zero, while having a portfolio of projects in key commodities.

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Tue, 06 Jun 2017 13:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/178814/montezuma-mining-company-see-battery-potential-at-butcherbird-178814.html
<![CDATA[News - Montezuma Mining Company calculates cobalt exploration target ]]> https://www.proactiveinvestors.com.au/companies/news/177880/montezuma-mining-company-calculates-cobalt-exploration-target-177880.html Montezuma Mining Company (ASX:MZM) has further confirmed the potential for high grade cobalt from its ongoing historical data review at the Pinnacles Project located in Western Australia.

Historical data has been used to estimate an Exploration Target of 13 to 14 million tonnes grading between 0.075% and 0.085% cobalt and between 0.75% and 0.8% nickel.

Consultants have now been engaged to undertake a JORC compliant mineral resource estimate.

This estimate will form the basis of commercialisation studies to determine the best pathway forward to generate shareholder value from the project.

The data highlights multiple zones of shallow cobalt mineralisation over 15 kilometres of strike with potential for extensions with further drilling.


Pinnacles data review

The ongoing historical data review has confirmed the potential for high grade cobalt associated with manganese-nickel oxide mineralisation at its 100% owned Pinnacles Project.

Results show a flat lying near surface cobalt zone including:

- 16 metres at 0.27% cobalt, >1% nickel, 0.58% manganese from 18 metres;
- 8 metres at 0.29% cobalt, 0.73% nickel, 2.09% manganese from 10 metres including 2 metres at 0.8% cobalt, >1% nickel, 4.6% manganese; and
- 30 metres at 0.16% cobalt, >1.0 % nickel, 0.86 manganese from 10 metres.

The review has also confirmed previous rock chip assays grading up to 1.30% cobalt.


Background

Montezuma holds a number of multi-commodity exploration and mining tenements in Western Australia and France.

Its portfolio includes:

- Yamarna Gold Project, Western Australia;
- Holleton Gold Project, Western Australia;
- Butcherbird Manganese Project, Western Australia;
- Butcherbird Copper Project, Western Australia;
- Lake Johnston Lithium Project, Western Australia;
- Pinnacles Cobalt Project, Western Australia;
- Green Dam Project, Western Australia;
- Mt Padbury Project, Western Australia; and
- Bonneval Gold Project, France.

The 100% owned Pinnacles Project is located 75 kilometres from Kalgoorlie, Western Australia.

The new cobalt exploration work extends Montezuma’s technology metal thrust targeting the manganese, lithium and cobalt markets.

Most key battery technologies use lithium with manganese and/or cobalt, the target commodities for the company’s Butcherbird, Lake Johnston and Pinnacles Projects.

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Wed, 17 May 2017 10:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/177880/montezuma-mining-company-calculates-cobalt-exploration-target-177880.html
<![CDATA[News - Montezuma Mining Company calculates cobalt exploration target ]]> https://www.proactiveinvestors.com.au/companies/news/177550/montezuma-mining-company-calculates-cobalt-exploration-target-177550.html Montezuma Mining Company (ASX:MZM) has further confirmed the potential for high grade cobalt from its ongoing historical data review at the Pinnacles Project located in Western Australia.

Historical data has been used to estimate an Exploration Target of 13 to 14 million tonnes grading between 0.075% and 0.085% cobalt and between 0.75% and 0.8% nickel.

Consultants have now been engaged to undertake a JORC compliant mineral resource estimate.

This estimate will form the basis of commercialisation studies to determine the best pathway forward to generate shareholder value from the project.

The data highlights multiple zones of shallow cobalt mineralisation over 15 kilometres of strike with potential for extensions with further drilling.


Pinnacles data review

The ongoing historical data review has confirmed the potential for high grade cobalt associated with manganese-nickel oxide mineralisation at its 100% owned Pinnacles Project.

Results show a flat lying near surface cobalt zone including:

- 16 metres at 0.27% cobalt, >1% nickel, 0.58% manganese from 18 metres;
- 8 metres at 0.29% cobalt, 0.73% nickel, 2.09% manganese from 10 metres including 2 metres at 0.8% cobalt, >1% nickel, 4.6% manganese; and
- 30 metres at 0.16% cobalt, >1.0 % nickel, 0.86 manganese from 10 metres.

The review has also confirmed previous rock chip assays grading up to 1.30% cobalt.


Background

Montezuma holds a number of multi-commodity exploration and mining tenements in Western Australia and France.

Its portfolio includes:

- Yamarna Gold Project, Western Australia;
- Holleton Gold Project, Western Australia;
- Butcherbird Manganese Project, Western Australia;
- Butcherbird Copper Project, Western Australia;
- Lake Johnston Lithium Project, Western Australia;
- Pinnacles Cobalt Project, Western Australia;
- Green Dam Project, Western Australia;
- Mt Padbury Project, Western Australia; and
- Bonneval Gold Project, France.

The 100% owned Pinnacles Project is located 75 kilometres from Kalgoorlie, Western Australia.

The new cobalt exploration work extends Montezuma’s technology metal thrust targeting the manganese, lithium and cobalt markets.

Most key battery technologies use lithium with manganese and/or cobalt, the target commodities for the company’s Butcherbird, Lake Johnston and Pinnacles Projects.

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Wed, 10 May 2017 11:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/177550/montezuma-mining-company-calculates-cobalt-exploration-target-177550.html