Manganese X Energy (TSXV:MN) (OTCQB:MNXXF) (FSE:9SC) CEO Martin Kepman reviews 2022 with company on track to becoming the first North American mining company to commercialize high-purity EV compliant manganese. The Battery Hill manganese project, which covers 1,228 hectares, is located approximately 5 km northwest of the town of Woodstock and is accessible via a new two-lane road. One of the highlights of 2022 was the positive results released in May in an independent Preliminary Economic Assessment, prepared by Wood Canada Ltd.
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Manganese X Energy (TSXV:MN) (OTCQB:MNXXF) (FSE:9SC) has wrapped up another successful year highlighted by the advancement of its wholly owned Battery Hill manganese project.
The Battery Hill manganese project, which covers 1,228 hectares, is located approximately 5 km northwest of the town of Woodstock and is accessible via a new two-lane road.
One of the highlights of 2022 was the positive results released in May in an independent Preliminary Economic Assessment, prepared by Wood Canada Ltd.
This table shows the key financial outcomes, with all numbers in US funds.
After tax net present value is $486 million, using a 10% discount rate, with a 25% IRR and a CAPEX of $350 million and a payback in 2.8 years.
Life of mine is 40 years of production and another 7 years of stockpile reclaiming, with an average annual gross revenue of $220 million of the first 7 years, and an average annual gross revenue of $177 million over the 47-year project life.
We have Martin Kepman, the company’s CEO, with us today, to elaborate on the highlights of 2022 and what’s on the horizon for 2023.
The company is on track to become the first publicly traded mining company in North America to commercialise high-purity EV compliant manganese.
The company is well financed to achieve its 2023 program goals with it shares currently trading at $0.21.
For more information, please visit the company’s website at www.ManganeseXEnergyCorp.com, contact Martin Kepman, CEO, at 514-802-1814 or email martin@kepman.com.
