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Element 25 is close to releasing PFS on Butcherbird

Snapshot

The company is focused on developing its Butcherbird Manganese Project in Western Australia.

Element 25 Ltd - Element 25 is close to releasing PFS on Butcherbird

Quick facts: Element 25 Ltd

Price: 0.2 AUD

ASX:E25
Market: ASX
Market Cap: $18.38 m
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Element 25 Ltd (ASX:E25) chairman Seamus Cornelius has written in a letter to shareholders that the company is poised for an exciting year.

He said: “We are very close to finalising and announcing a PFS on the Butcherbird high purity manganese project which will be a significant milestone.”

Cornelius added: “I am looking forward to this important development.

“The PFS will be important in and of itself but shareholders should be aware that the PFS announcement will also act as a catalyst for other opportunities which are dependant in whole or in part on us having the PFS economics in the public domain."

Aim to produce high-purity manganese products

Element 25 is developing the Butcherbird manganese deposit via a strategy of integrated downstream processing with the aim of producing high purity manganese products.

These products include electrolytic manganese metal (EMM) and battery-grade manganese sulphate (HPMSM).

Yanneri Ridge deposit initial focus

The project comprises seven resource areas, the largest of which is the Yanneri Ridge deposit.

This is the planned start-up location, selected due to a higher grade and its location underlying both the Great North Highway and Goldfields Gas Pipeline.

The Yanneri Ridge mineralisation also has minimal overburden, allowing simple and low-cost mining, requiring no drill and blast.

Funding potential from NAIF

Element 25 recently advanced further towards receiving potential funding support from the Northern Australia Infrastructure Facility (NAIF) for its Butcherbird Manganese Project.

NAIF was established in 2016 to provide financial assistance to the States of Queensland, Western Australia and the Northern Territory for the construction of infrastructure to benefit northern Australia.

The company received written confirmation that the NAIF CEO had considered a strategic assessment paper for the project and consented to the NAIF executive to progress the project to the due diligence stage of assessment.

These events represent a positive step forward as NAIF will further investigate the potential to provide debt financing for Butcherbird.

The next step for Element 25 is to submit a formal investment proposal.

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Full interview: Element 25 in due diligence phase for Northern Australia...

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...

on 10/10/19

2 min read