logo-loader
viewElement 25 Ltd

Element 25 ready to resume business as usual as WA restrictions ease

The board will monitor the situation and take all necessary steps to maintain safe working conditions while moving towards the resumption of normal business operations.

Element 25 Ltd - Element 25 ready to resume business as usual as WA restrictions ease
Western Australia has entered phase one of its COVID-19 recovery plan

Element 25 Ltd (ASX:E25) intends to take a cautious approach to resuming norming operations as Western Australia eases COVID-19 restrictions.

This includes initiating the process of re-opening the company's office in coming weeks, subject to the rules and advice from government and health authorities.

Director fee decision reversed

With the easing of restrictions in Western Australia occurring more quickly than initially anticipated, the board has reviewed and reversed its cash conservation decision announced on April 27, 2020, with respect to director fee reductions and the proposed issue of options.

The company had planned to reduce the cash component of director fees by 20% for six months, and to issue 200,000 options to chairman Seamus Cornelius, 750,000 options to managing director Justin Brown and 150,000 options to non-executive director John Ribbons at a price of 20 cents per option.

Butcherbird Manganese Project

The company continues to make excellent progress in relation to the development of the Butcherbird Manganese Project and looks forward to further advancing the project as soon as possible.

A 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 Electrolytic Manganese Metal (EMM) for use in certain specialty steels.

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

Quick facts: Element 25 Ltd

Price: 0.455 AUD

ASX:E25
Market: ASX
Market Cap: $44.75 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Element 25 Ltd named herein, including the promotion by the Company of Element 25 Ltd in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Element 25 'well funded' as it progresses PFS on Butcherbird manganese project

Element 25 Ltd's (ASX:E25) Justin Brown sits down with Proactive's Andrew Scott while at Mines and Money in London 2019. The company's flagship asset is the Butcherbird manganese deposit, which has been described as Australia’s largest onshore manganese resource. ''The PFS is around 90%...

on 27/11/19

2 min read