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Euro Manganese has the right stuff, the right spot, at the right time: Canaccord Genuity

Euro Manganese Inc (ASX:EMN) (CVE:EMN) has received a price target upgrade from Canaccord Genuity as it focuses on advancing the evaluation and development of the Chvaletice Manganese Project in the Czech Republic.

The project entails re-processing a significant manganese deposit hosted in historical mine tailings, strategically located in the heart of Europe, about 90 kilometres east of Prague.

Canaccord Genuity, the capital markets division of Canaccord Genuity Group Inc (TSE:CF), has upgraded its price target for Euro Manganese to 55 cents from 50 cents while maintaining a speculative buy rating.

The following is an extract from Canaccord’s research update:

More manganese please
Manganese offers niche market opportunity[hhmc]
Following Tesla's battery day we continue to digest the presentation, and while the conversation has largely focussed on lithium, we believe it is worth reflecting on other materials that will be required to deliver the company's ambitions. The ca..

Euro Manganese Inc (ASX:EMN) (CVE:EMN) has received a price target upgrade from Canaccord Genuity as it focuses on advancing the evaluation and development of the Chvaletice Manganese Project in the Czech Republic.

The project entails re-processing a significant manganese deposit hosted in historical mine tailings, strategically located in the heart of Europe, about 90 kilometres east of Prague.

Canaccord Genuity, the capital markets division of Canaccord Genuity Group Inc (TSE:CF), has upgraded its price target for Euro Manganese to 55 cents from 50 cents while maintaining a speculative buy rating.

The following is an extract from Canaccord’s research update:

More manganese please

Manganese offers niche market opportunity


Following Tesla's battery day we continue to digest the presentation, and while the conversation has largely focussed on lithium, we believe it is worth reflecting on other materials that will be required to deliver the company's ambitions. The cathode presentation highlights three chemistries and claims to be moving towards a two-thirds nickel, one-third manganese chemistry for its long range vehicles. We highlight EMN, which is developing the Chvaletice Manganese project in the Czech Republic, and what differentiates it in the manganese and LiB supply chains.

Manganese market snapshot


The global manganese market is dominated by demand from the steelmaking industry which accounts for 90% of demand, the remaining 10% (c.2mtpa) being consumed in specialty metal markets. Of the 2Mtpa, c.400ktpa is used in disposable alkaline batteries with only c.50kt used in LiB). Like the lithium market, there are strict quality requirements to produce High Purity Electrolytic Manganese Metal (HPEMM) and High Purity Manganese Sulphate Monohydrate (HPMSM), resulting in a price premium and a barrier to entry.

Look to Europe for the next leg of LiB growth


As we recently highlighted, Europe has become a focus for the EV market, with the EU on track to sell more EVs than China by the end of the year. In 2017, the EU established the European Battery Alliance (EBA) to address what it saw as an Asia-controlled supply chain. Since then, battery investments in Europe have lifted to c.€100b, a thirty-fold increase. Following the success of the EBA, in late September this year the EU launched the European Raw Materials Alliance which places a strong emphasis on electric vehicles/clean tech, ESG practices in material sourcing and supporting Europe's industrial raw material capability. We expect European-focussed producers will benefit from access to cheap debt and preferential selection with OEMs for off-take and partnerships.

Chvaletice the right stuff, the right spot, the right time


EMN's Chvaletice mRead More – Source

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Argonaut Resources directors show faith in company by participating in oversubscribed SPP

Argonaut Resources NL (ASX:ARE) directors have demonstrated their faith in the company’s copper-zinc strategy by participating in the recently closed share purchase plan (SPP).

Independent non-executive chairman Patrick Elliot purchased more than 4.465 million shares at 0.55 cents per share in an indirect interest.

He now holds 5,876,159 shares in that interest with another 20,324,574 held in a separate indirect interest.

Independent non-executive chairman Malcolm Richmond acquired more than 5.454 million shares in a direct interest, increasing the number held in this interest to almost 15 million with another 1 million held in an indirect interest.

Overwhelming response to SPP[hhmc]
The company was overwhelmed by the response to its SPP which closed early and more than twice oversubscribed with the target subsequently increased to $2.5 million from $1.2 million.

Subscriptions in excess of $3 million were received and as a result, the SPP was closed with immediate effect.

Money ..

Argonaut Resources NL (ASX:ARE) directors have demonstrated their faith in the company’s copper-zinc strategy by participating in the recently closed share purchase plan (SPP).

Independent non-executive chairman Patrick Elliot purchased more than 4.465 million shares at 0.55 cents per share in an indirect interest.

He now holds 5,876,159 shares in that interest with another 20,324,574 held in a separate indirect interest.

Independent non-executive chairman Malcolm Richmond acquired more than 5.454 million shares in a direct interest, increasing the number held in this interest to almost 15 million with another 1 million held in an indirect interest.

Overwhelming response to SPP


The company was overwhelmed by the response to its SPP which closed early and more than twice oversubscribed with the target subsequently increased to $2.5 million from $1.2 million.

Subscriptions in excess of $3 million were received and as a result, the SPP was closed with immediate effect.

Money raised under this SPP and from the recently completed $2.7 million share placeRead More – Source

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Strickland Metals shares jump 39% ahead of drilling base metal target near DeGrussa

Strickland Metals Ltd (ASX:STK) shares surged 39% today ahead of its maiden drilling program at the Doolgunna Project, which will include a diamond drilling program that is likely to begin by the end of this month.

As a part of the program, a minimum of four diamond holes will be drilled to a depth of 500 metres to test a VMS target similar to the nearby DeGrussa deposit of Sandfire Resources (ASX:SFR).

Heritage survey[hhmc]
Exploration activity has recommenced on the Doolgunna Project following completion of heritage surveys to allow land access to areas where the company wishes to complete exploration drilling.

The target for drilling is a compelling base metal prospect that exhibits geological characteristics that are interpreted to be similar to Sandfire Resources’ DeGrussa deposit about 30 kilometres to the east of the project.

The prospect has a 3-kilometre-long electromagnetic conductor that lies below an outcropping copper-zinc gossan that has been mapped over a 1.2-kilomet..

Strickland Metals Ltd (ASX:STK) shares surged 39% today ahead of its maiden drilling program at the Doolgunna Project, which will include a diamond drilling program that is likely to begin by the end of this month.

As a part of the program, a minimum of four diamond holes will be drilled to a depth of 500 metres to test a VMS target similar to the nearby DeGrussa deposit of Sandfire Resources (ASX:SFR).

Heritage survey


Exploration activity has recommenced on the Doolgunna Project following completion of heritage surveys to allow land access to areas where the company wishes to complete exploration drilling.

The target for drilling is a compelling base metal prospect that exhibits geological characteristics that are interpreted to be similar to Sandfire Resources’ DeGrussa deposit about 30 kilometres to the east of the project.

The prospect has a 3-kilometre-long electromagnetic conductor that lies below an outcropping copper-zinc gossan that has been mapped over a 1.2-kilometre strike.

Diamond core drilling


The company plans to start the diamond core drilling by the end of this month.

A multi-purpose drill rig has been contracted to enable the minimum planned program wRead More – Source

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Pan Asia Metals has positive discussions on plans for Thai lithium project

Pan Asia Metals Ltd (ASX:PAM) has had positive discussions with authorities in Phang Nga Province, Thailand, including the provincial government, for its Reung Kiet Lithium Project.

PAM has submitted a presentation covering all aspects of the project including methods of ongoing exploration, conceptual mining and concentrate production, and the potential for downstream value-adding industries in Phang Nga and Thailand.

The presentation and subsequent discussions were aimed at assisting Phang Nga Provincial Government in their considerations for the proposed mining and industrial development areas.

Provincial Government discussions[hhmc]
Pan Asia was recently invited by the chief executive officer of the Phang Nga Provincial Administrative Organisation (PAO), a Phang Nga Provincial Government coordinating body, to represent PAM and the Reung Kiet Lithium Project.

The meeting was also attended by the head of Phang Nga Provincial Industry along with the representatives of the Phang Ng..

Pan Asia Metals Ltd (ASX:PAM) has had positive discussions with authorities in Phang Nga Province, Thailand, including the provincial government, for its Reung Kiet Lithium Project.

PAM has submitted a presentation covering all aspects of the project including methods of ongoing exploration, conceptual mining and concentrate production, and the potential for downstream value-adding industries in Phang Nga and Thailand.

The presentation and subsequent discussions were aimed at assisting Phang Nga Provincial Government in their considerations for the proposed mining and industrial development areas.

Provincial Government discussions


Pan Asia was recently invited by the chief executive officer of the Phang Nga Provincial Administrative Organisation (PAO), a Phang Nga Provincial Government coordinating body, to represent PAM and the Reung Kiet Lithium Project.

The meeting was also attended by the head of Phang Nga Provincial Industry along with the representatives of the Phang Nga Provincial Public Works and Town Planning Office.

Phang Nga Provincial Industry head has been appointed by the Phang Nga governor as chairman of the Phang Nga New Town Planning Committee.

During the meeting, the chairman of the committee conveyed its support for the Reung Kiet Lithium Project.

PAO wants to ensure that the requirements of the Reung Kiet project are incorporated into the town planning committee’s zoning plans to ensure that the project can progress once exploration and feasibility results prove positive.

“Can bring opportunities”


PAM managing director Paul Lock said: “We have been working hard in Phang Nga province and we are very happy with the positive reception that the Reung Kiet Lithium Project is receiving from the Phang Nga Provincial Government and surrounding communities.

“Reung Kiet is strategically located and based on peer feasibility work the project is positioned to potentially be one of the lowest-cost suppliers of lithium chemicals in the global peer group.

“This is a project that can bring substantial opportunities and value to Phang Nga and Thailand.”

Pan Asia is planning its second Reung Kiet drilling program with expectations that this will begin in the coming months following the conclusion of the current Khao Soon drilling program.

Potential cost curve leader


Reung Kiet is a hard rock project with lepidolite rich pegmatites chiefly composed of quartz, albite and lepidolite with minor cassiterite and tantalite as well as other accessory minerals including some rare earth.

Lepidolite does not require roasting and has a suite of by-products which are recoverable at the concentrator and processing stages of the flow sheet.

Peer feasibility work has Read More – Source

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