- Element 25 (E25) completes scoping study into the construction and operation of a high purity manganese sulphate monohydrate (HPMSM) plant
- The company says the study has returned a robust set of financial metrics over a 20-year project life
- It also says the project is strongly leveraged to the emerging electric vehicle (EV) industry as these vehicles typically incorporate HPMSM
- Element 25 is moving directly into a definitive feasibility study for the development of the project and expects that study to be finalised in the second half of 2022
- Shares have been in the grey at $1.42
Element 25 (E25) has delivered a scoping study into the construction and operation of a high purity manganese sulphate monohydrate (HPMSM) plant that shows a “robust” set of financial metrics across a 20-year project life.
The company said the proposed project was strongly leveraged to the emerging electric vehicle (EV) industry. EVs typically use lithium-ion batteries for energy storage and battery cathode materials contain HPMSM.
The study assessed three stages of development modelled on a South-East Asian site, with the second and third stages to be scheduled for construction after completion of the previous stage.
It was based on manganese ore being supplied from the company’s existing Butcherbird manganese production operations in the southern Pilbara region in Western Australia.
Element 25 said its current funding together with forecast revenues from Butcherbird operations were sufficient to progress the HPMSM project to a definitive feasibility study stage.
The feasibility study was slated for completion in the second half of calendar 2022.
Subject to the outcomes of the studies, the company said it would look to finance and develop the project as soon as possible.
E25 shares were trading trading 3.53 per cent higher at $1.47 at 12.11 pm AEDT.