23:59:45 EDT Thu 18 Apr 2024
Enter Symbol
or Name
USA
CA



American Manganese Inc
Symbol AMY
Shares Issued 156,979,916
Close 2018-03-16 C$ 0.26
Market Cap C$ 40,814,778
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American Manganese discusses Artillery Peak project

2018-03-16 09:07 ET - News Release

Mr. Larry Reaugh reports

AMERICAN MANGANESE INC. DISCUSSES ARTILLERY PEAK MANGANESE OPPORTUNITIES

Larry W. Reaugh, president and chief executive officer of American Manganese Inc., has provided an update on the potential opportunities for the company's Artillery Peak manganese project in Arizona.

Manganese ore prices have recently risen and the move back to manganese-dioxide metal for lithium-ion batteries has brought attention back to manganese. The company has received queries to sell or purchase manganese products several times a month, with most requests being ore for delivery or purchase.

However, prices have eroded from the time American Manganese first got involved with its Artillery Peak project from $4.60 per kilogram then to $2.05/kg today. American Manganese developed and patented a process for treating low-grade ores from 2009 to 2011 and initiated a prefeasibility study with Tetra Tech in March of 2011. At that time, manganese was trading at $3.40/kg but eroded to $2.15/kg by the time the study was completed in 2012, rendering the project economically unattractive.

As the prices for manganese metals have yet to reach a favourable level, management will continue to hold its position at Artillery Peak and concentrate instead on American Manganese's more valuable process patents in the United States, South Africa and China.

Management speculates the executive order signed by Donald Trump to reduce U.S. reliance on foreign-sourced critical minerals could push manganese to the forefront, with manganese at the top of the critical minerals list as there is no production in U.S. or Canada. This will have a positive effect on American Manganese's manganese assets and could positively affect the state of the company's project.

About American Manganese Inc.

American Manganese is a diversified specialty and critical metal company focused on capitalizing on its patented intellectual property through low-cost production or recovery of electrolytic manganese products throughout the world as well as recycling of spent electric vehicle lithium-ion rechargeable batteries.

Interest in the company's patented process has adjusted the focus of American Manganese toward the examination of applying its patented technology for other purposes and materials. American Manganese aims to capitalize on its patented technology and proprietary know-how to become the industry leader in recycling spent electric vehicle lithium-ion batteries and recovering 100 per cent of the cathode metals such as: lithium-cobalt, lithium-cobalt-nickel-manganese, lithium-cobalt-aluminum and lithium-manganese.

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