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Euro Manganese focuses on COVID-19 mitigation while continuing to progress Czech project

The company is continuing non-fieldwork, including engineering and laboratory test work, for the Chvaletice Manganese Project.

Euro Manganese Inc - Euro Manganese focuses on operations and mitigation measures at Chvaletice Manganese Project in the Czech Republic
Inspecting Sonic drill core of soft, sandy tailings material from Chvaletice

Euro Manganese Inc (ASX:EMN) (CVE:EMN) is maintaining non-fieldwork progress at the Chvaletice Manganese Project in the Czech Republic while also focusing on mitigation measures due to the ongoing COVID-19 outbreak.

After completing much of the necessary fieldwork over the past few years, the company is fortunate that a lot of its ongoing work can be conducted remotely.

Short-term priorities are:

  • Ongoing discussions and negotiations with potential customers as well as strategic and financial partners, including those related to funding of the project and its proposed demonstration plant;
  • Negotiation of value-adding operational, financial, and commercial arrangements;
  • Preparation of the feasibility study; and
  • Finalisation of the Environmental Impact Assessment (EIA) filings, for which the next step is the submission of the EIA Project Notification in Q2 2020.

Monitoring COVID-19 situation

Chief executive officer Marco Romero said to date neither the company nor its network of consultants and contractors had experienced any incidences of COVID-19 contagion.

“We are doing well under the circumstances. Our company places the safety and well-being of its employees, consultants, contractors and local community residents as its highest priority, and is actively monitoring and responding to the COVID-19 situation.

“We take this health crisis very seriously and we are being extra cautious - we are following all applicable rules and guidelines."

Moving ahead

He added: “Our company is resolute and we are moving ahead prudently with our most important work, in order to meet the expectations, schedules and needs of our prospective customers.

“We know our project is important for the Czech Republic, Europe and our customers.

“Our entire team is working from home and all collaborative activities are taking place online. We are well served by effective modern communications and information technology.”

“We are fortunately in a phase of our project where most of the work can be conducted remotely.

“We have already completed four years of very extensive fieldwork and studies on the Chvaletice Manganese Project site, well before such activities would have become difficult to impossible to perform due to the strict CV-19 containment regulations now in effect in the Czech Republic.”

Less-time sensitive activities suspended

Romero continued: “The engineering and laboratory test work for our feasibility study continues to advance in China, where our service providers are back at work, after being down for almost two months.

“We have aggressively tightened spending and are focusing our efforts and resources on mission-critical activities in order to address the key, near-term development milestones.

“Activities that are less time-sensitive or strategic in nature have been suspended - the proposed development of the Chvaletice demonstration plant is temporarily on-hold.

“We are confident that the measures we are implementing will allow us to maintain a reasonable pace of progress and set the stage for us to fast-track the development of this important project once we emerge from this global health crisis, for the benefit of our shareholders and all stakeholders.”

Quick facts: Euro Manganese Inc

Price: 0.083 AUD

ASX:EMN
Market: ASX
Market Cap: $15.65 m
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