Manganese X Energy (MN.V) announced they have selected the global consulting and engineering company Wood to conduct the Preliminary Economic Assessment (PEA) to evaluate the economic viability of their Battery Hill manganese project.
The PEA will measure the Battery Hill project’s full potential and provide Manganese X with important information about how to move the project forward.
“We are extremely excited to have the highly acclaimed Wood conducting our PEA and working very closely with our metallurgical team at Kemetco Research Inc. We anticipate this technical study will validate our new cost-saving metallurgical processes and our upcoming patent application to economically produce a competitive, safe, sustainable, high grade, EV compliant manganese product. With the demand for the creation of a USA-Canada supply chain lessening the need for foreign imports. along with the continuing expansion of EV and back up energy storage units utilizing manganese, we are very optimistic for the future,” commented Martin Kepman, CEO of Manganese X.
Manganese touts Wood as a world leader in consulting and engineering across the energy and built environment sector who employ ~40,000 people.
Manganese X also said they expect their NI 43-101 in the near future following their latest drill program which began on February 16, 2021.
The Battery Hill Project, located 5 km from Woodstock, Carlton County in southwestern New Brunswick, is Manganese X’s flagship project. It has been estimated that there could be as much as 194,000,000 tonnes of manganese in the Woodstock area.
Currently, there are no manganese mines in production, so the Battery Hill project would be filling a huge need. As manganese’s role in electric vehicle (EV) batteries has become increasingly more important, so has secure manganese supply chains. Manganese X applauded President Biden’s attempts to strengthen and diversify the US’s supply chains, recognising that they could fill an important role in those supply chains if they can get the mine operational.
Between the upcoming PEA and NI 43-101, Manganese X will soon be receiving crucial information about the viability of the Battery Hill project.
Following today’s news, MN’s share price has not changed significantly.
Full disclosure: Manganese X Energy is an Equity Guru marketing client.