Make Kitco Your Homepage

Giyani Metals announces a 36% increase in its inferred mineral resource estimate

Kitco News

Giyani Metals (TSXV:EMM) said on Monday its updated PEA incorporates a 36% increase in the inferred mineral resource estimate resulting in a 21% increase in after-tax NPV from US$275 million to US$332 million.

The company is advancing its K.Hill, Lobatse & Otse manganese oxide projects in the Kanye Basin, Botswana, Africa.

The resource increase was a result of "... remodelling of the geological model, wireframes, and block model incorporating all previously available drilling results as well as the results from 11 holes from the recently completed infill drilling program available at the time of reporting."

The company also changed its final product from High Purity Electrolytic Manganese Metal (HPEMM) to High Purity Manganese Sulphate Monohydrate (HPMSM).

"HPMSM requires fewer processing steps and consumes less energy compared to production of HPEMM. Based on feedback from battery manufacturers during the last year, the Company believes HPMSM is the preferred precursor material for the production of the Nickel-Cobalt-Manganese (“NCM”) cathodes used in lithium-ion batteries, especially for the Electric Vehicle (“EV”) market and aligns with the Company’s strategy to be a low or zero carbon footprint producer," wrote the company.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.