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Element 25 monetises non-core asset with earn-in partner Gateway Mining

The company is progressing a pre-feasibility study (PFS) at the Butcherbird High Purity Manganese Project in WA.

Element 25 Ltd - Element 25 monetises non-core asset with earn-in partner Gateway Mining
The PFS is anticipated to provide a robust base case for commercialisation of the world-class project

Element 25 Ltd (ASX:E25) has signed an earn-in deal with Gateway Mining Ltd (ASX:GML) to monetise its granted exploration licence E57/1060 (Victory Well) in WA.

Gateway has acquired an 80% interest in E57/1060 for:

  • $50,000 payable at E25’s discretion in cash or Gateway shares;
  • the grant of 0.7% gross revenue royalty which is capped at the production of either 100,000 ounces of gold or 25,000 tonnes of copper from E57/1060; and
  • 20% free carried interest to a decision to mine.

Gateway managing director Peter Langworthy said the company has taken the opportunity to consolidate key areas immediately contiguous with its flagship Gidgee Gold Project.

Airborne magnetic data image overlain by gravity image showing current Gateway tenements (yellow), new Gateway tenements (red) and E25 joint venture tenement (green)

E25 is progressing a pre-feasibility study (PFS) at the Butcherbird High Purity Manganese Project in WA.

The PFS is anticipated to provide a robust base case for commercialisation of the world-class project, which hosts a JORC-compliant resource in excess of 263 million tonnes of manganese ore.

The company intends to produce high purity manganese including manganese sulphate for lithium-ion batteries (HPMS) and Electrolytic Manganese Metal (EMM).

Quick facts: Element 25 Ltd

Price: 0.835 AUD

ASX:E25
Market: ASX
Market Cap: $107.45 m
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Element 25 Limited's (ASX:E25) Justin Brown speaks to Proactive's Andrew Scott after agreeing key commercial terms under a non-binding term sheet to sell 100% of the manganese ore produced - up to 365,000 tonnes per annum - from the first stage of the Butcherbird Project development in Western...

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