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- Euro Manganese (EMN) appoints Stifel Nicolaus Europe as the financial advisor for its flagship Chvaletice project in the Czech Republic
- Stifel is a full-service investment bank with experience in the mining sector, and will assist EMN in structuring and securing finance for the development of its manganese project
- The Chvaletice project is a waste-to-value recycling and remediation venture involving reprocessing old tailings from a decommissioned mine
- Euro’s CEO Matthew James says the appointment is an important step for the company as it executes project milestones and moves towards a FID, expected in 2023
- Company shares last traded at 23.5 cents on June 27
Euro Manganese (EMN) has appointed Stifel Nicolaus Europe as the financial advisor for its flagship Chvaletice project in the Czech Republic.
Stifel Nicolaus Europe is a subsidiary of Stifel Financial Corporation, a financial advisory group in the battery metals space which provides institutional services such as strategic business advice across debt and equity markets.
Through the new partnership, Stifel will assist EMN with the structuring and securing of finance for the development of its manganese project.
The Chvaletice project is a waste-to-value recycling and remediation venture involving reprocessing old tailings from a decommissioned mine.
Euro Manganese believes the appointment will enable it to initiate a dialogue with potential financiers which in turn would allow due diligence to commence.
The pair are set to work together to determine the optimal financing structure for the project.
To assist with securing project financing, EMN plans to complete the feasibility study for the project, execute binding off-take agreements as well as finalising land access agreements and receiving approval of the Environmental and Social Impact Assessment and final permitting.
Euro Manganese’s President and CEO Matthew James believes the company will benefit from Stifel’s “successful track record of debt and equity raises” and “significant experience in project financing”.
“This appointment is an important step for the company as we seek to execute project milestones and move towards a final investment decision, expected in 2023,” he said.
Stifel’s Head of Capital Solutions Group Jan-Erik Back said Stifel is proud to partner with Euro Manganese in this instance.
“Euro Manganese is uniquely positioned to capitalise on the growth in the European electric vehicle market.
“Having the only sizeable manganese resource in Europe combined with the development of a processing plant to produce high-purity manganese products, they will have a fully traceable and sought-after product for the EV industry,” he said.
Company shares last traded at 23.5 cents on June 27.
