Element 25 Ltd (ASX:E25) executive director Justin Brown updates Proactive on progress with an application for Northern Australia Infrastructure Facility (NAIF) support for the Butcherbird Manganese Project.
The company has received written confirmation that NAIF has considered a strategic assessment paper for the project and has consented to progress the assessment to the due diligence stage.
With manganese identified as a critical metal in the Government’s critical metals strategy, the NAIF process has potential to provide a positive step forward.
The next step is to submit a formal investment proposal but at this stage there is no certainty that an agreement will be reached between the parties.
