Not for distribution to U.S. newswire services or for dissemination in the United States
TORONTO, June 16, 2022 (GLOBE NEWSWIRE) -- Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) ("Giyani" or the "Company"), developer of the K.Hill battery grade manganese project in Botswana (“K.Hill Battery Manganese Project” or “K.Hill”), is pleased to provide an update on its demonstration plant (“Demo Plant”).
Highlights
- Option exercised to order second crystallizer and evaporator that will allow the Demo Plant to operate as a continuous production process once construction is completed.
- The combined crystallizer units of the Demo Plant will be able to produce up to 600kg per day of dry high-purity manganese sulphate monohydrate (“HPMSM”) crystals with first deliveries to potential battery materials customers to 2023.
Further to the order of a first crystallizer unit, announced on March 30, 2022, the Company secured an option to order a second crystallizer and evaporator for the Demo Plant (“Second Unit”). Following detailed engineering discussions with its specialist hydrometallurgical consultants, the Company has exercised its option and secured the order for the Second Unit.
The Second Unit will allow the Demo Plant to operate as a continuous production process using various feed conditions. The combined crystallization units will give the Demo Plant a capacity of up to 600 kg per day of dry HPMSM crystals, depending on the manganese grade of the ore feed, which can be sent to potential offtakers for product qualification.
Since the order of the first crystallizer, engineering has started and remains on track and key long lead items have been procured. Signing of the construction contract for the Demo Plant is currently anticipated in the coming weeks, with first samples of HPMSM shipped to potential offtakers in 2023.
Robin Birchall, CEO of the Company, commented:
“Crystallization units are critical components of many battery grade metals refining operations and, with ongoing global supply chain issues, to secure two crystallizers for our Demo Plant puts Giyani in an enviable position. Since placing our first order in March, we have seen the lead time on new orders for crystallization units extend to as long as 18 months as demand from the battery metals sector ramps up to feed demand from the electric vehicle market. It is a tribute to our technical team that we have not only sourced one, but two crystallizers during such a period of high demand. Importantly, the addition of the second crystallizer will allow the Demo Plant to operate continuously and in doing so will facilitate a reduction in time to produce the required volumes of product samples for potential offtakers, as well as meet the objective of de-risking and optimising the commercial processing plant.
We continue the work to cement our position as a premium supplier of a critical battery material with the ongoing feasibility study work currently on track for completion in Q3 2022.”
About Giyani
Giyani is a mineral resource company focused on becoming one of Africa’s first low-carbon producers of high-purity manganese sulphate precursor materials directly from manganese oxide ore, used by battery manufacturers for the expanding EV market, through the advancement of its manganese assets in the Kanye Basin in south-eastern Botswana, (the “Kanye Basin Prospects”) through its wholly-owned Botswana subsidiary Menzi Battery Metals (Pty) Limited. The Company’s Kanye Basin Prospects consist of 10 prospecting licences and include the past producing Kgwakgwe Hill mine and project, referred to as the K.Hill Battery Manganese Project, the Otse manganese prospect and the Lobatse manganese prospect, both of which have seen historical mining activities.
The Company is currently undertaking a feasibility study on the K.Hill Battery Manganese Project, following an updated preliminary assessment report announced on April 12, 2021, with a post-tax NPV of USD332 million and post-tax IRR of 80%, based on a development plan to produce around 891,000 tonnes of HPMSM over a 10 year project life. An updated 43-101 technical report on the K.Hill Battery Manganese Project is available on www.sedar.com and on the Company’s website atgiyanimetals.com.
Qualified Persons / NI 43-101 Disclosures
Mr. Jacques du Toit CEng. PrEng. MscEng. PMP is a qualified person, as defined by National Instrument 43-101. Mr. du Toit is the VP, Technical Services and has reviewed and approved the scientific and technical content contained in this press release but is not independent for the purposes of NI 43-101.
On behalf of the Board of Directors of Giyani Metals Corp.
Robin Birchall, CEO
Contact:
Robin Birchall CEO, Director
+44 7711 313019
rbirchall@giyanimetals.com
George Donne
VP Business Development
+44 7866 591 897
gdonne@giyanimetals.com
Judith Webster
Corporate Secretary
+1 416 453 8818
jwebster@giyanimetals.com
Neither the TSX Venture Exchange (the "TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. persons," as such term is defined in Regulation S promulgated under the U.S. Securities Act ("U.S. Persons"), except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company's securities to, or for the account of benefit of, persons in the United States or U.S. Persons.
Forward Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements in this news release, other than statements of historical fact, that address events or developments that Giyani expects to occur, are "forward-looking statements". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "does not expect", "plans", "anticipates", "does not anticipate", "believes", "intends", "estimates", "projects", "potential", "scheduled", "forecast", "budget" and similar expressions, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. Specific forward-looking statements and forward-looking information herein includes completion of receipt of TSXV approval for the private placement and completion of the private placement.
All such forward-looking statements are based on the opinions and estimates of the relevant management as of the date such statements are made and are subject to certain assumptions, important risk factors and uncertainties, many of which are beyond Giyani's ability to control or predict. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. In the case of Giyani, these facts include their anticipated operations in future periods, planned exploration and development of its properties, and plans related to its business and other matters that may occur in the future. This information relates to analyses and other information that is based on expectations of future performance and planned work programs.
Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking information, including, without limitation: inherent exploration hazards and risks; risks related to exploration and development of natural resource properties; uncertainty in Giyani's ability to obtain funding; commodity price fluctuations; recent market events and conditions; risks related to the uncertainty of mineral resource calculations and the inclusion of Inferred Mineral Resources in economic estimation; risks in how the world-wide economic and social impact of COVID-19 is managed; risks related to governmental regulations; risks related to obtaining necessary licences and permits; risks related to the Company’s business being subject to environmental laws and regulations; risks related to the Company’s mineral properties being subject to prior unregistered agreements, transfers, or claims and other defects in title; risks relating to competition from larger companies with greater financial and technical resources; risks relating to the inability to meet financial obligations under agreements to which the Company is a party; ability to recruit and retain qualified personnel; and risks related to the Company’s directors and officers becoming associated with other natural resource companies which may give rise to conflicts of interests. This list is not exhaustive of the factors that may affect Giyani's forward-looking information. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information or statements.
Giyani's forward-looking information is based on the reasonable beliefs, expectations and opinions of the Company’s respective management on the date the statements are made, and Giyani does not assume any obligation to update forward looking information if circumstances or management's beliefs, expectations or opinions change, except as required by law. For the reasons set forth above, investors should not place undue reliance on forward-looking information. For a complete discussion with respect to Giyani and risks associated with forward-looking information and forward-looking statements, please refer to Giyani's latest Annual Information Form, which is filed on SEDAR at www.sedar.com.
