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Euro Manganese Inc. develops the Chvaletice Manganese Project in the Czech Republic, a battery-materials project designed to reprocess historic mine tailings into high-purity electrolytic manganese metal and high-purity manganese sulphate monohydrate. Company updates center on project development, process optimization, demonstration-plant output, permitting and strategic raw-material recognition under the European Union Critical Raw Materials Act.
Recurring news also covers governance changes, executive and board appointments, market-activity responses, capital-structure actions and the company’s positioning within electric-vehicle, energy-storage and defence-related manganese supply chains.
Euro Manganese announced that its Chvaletice Manganese Project in the Czech Republic has been designated as a Strategic Deposit by the Czech government. This significant milestone brings several advantages including expedited approval processes, reduced administrative burden, and access to special procedures similar to key infrastructure projects.
The Strategic Deposit status will help accelerate permitting by prioritizing official approvals, streamlining coordination between authorities, and potentially reducing obstacles from certain institutions. This designation is also a important prerequisite for receiving state investment incentives in the form of grants.
The announcement follows two major recent achievements: the Environmental and Social Impact Assessment (ESIA) approval in March 2024 and securing the Determination of Mining Lease permit in January 2025. These represent significant steps toward full project permitting.
Euro Manganese (EUMNF) has secured firm commitments for a C$5.9 million placement, with the European Bank for Reconstruction and Development (EBRD) increasing its ownership to 19.99%. The company is also offering an additional Share Purchase Plan (SPP) to raise up to C$3.6 million.
The financing, priced at C$0.036 per share (pre-consolidation), includes warrants with an exercise price of C$0.045 and 18-month expiry. The deal is conditional on raising minimum C$8.0 million aggregate and shareholder approval. Proceeds will support the Chvaletice Manganese Project development and customer engagements for offtake agreements.
The company announced veteran battery metals executive Rick Anthon will join as Chairman upon completion. A 5:1 share consolidation is planned before closing.
Euro Manganese has secured a significant milestone with the Determination of Mining Lease permit for its Chvaletice Manganese Project in the Czech Republic. The permit, issued by the District Mining Authority for multiple regions, grants exclusive and unrestricted rights for mineral extraction with no expiration date.
The permit, effective January 23, 2025, replaces all prior authorizations and provides robust legal protection of the project area, enabling the company to proceed with next project phases. According to Interim CEO Martina Blahova, this achievement demonstrates successful collaboration between Euro Manganese, regulators, and host communities, bringing the company closer to establishing a commercial-scale facility for high-purity manganese production, essential for green economy transition.
Euro Manganese has amended its US$100 million funding package with Orion Resource Partners for the Chvaletice Manganese Project in the Czech Republic. Key changes include:
- Interest accruing from January 1, 2025, will be deferred and added to principal balance at 14.00%, saving US$2.8 million annually in cash
- Extension of milestone obligation dates
- Right to repay convertible loan at par before conversion
- Option to terminate US$50 million Royalty Financing for US$1 million fee
- Potential issuance of warrants to Orion, subject to TSX Venture Exchange approval
The package consists of a US$50 million Convertible Loan Royalty Agreement (US$20 million already advanced) and a US$50 million royalty on Project revenues.
Euro Manganese announces leadership changes effective November 12, 2024. Martina Blahova, the current CFO, has been appointed as Interim CEO, replacing Dr. Matthew James who resigned as CEO and director. Dean Larocque joins as the new CFO. Blahova, who joined the company in 2018, brings extensive financial experience from roles at SSR Mining, Rheinmetall Group, and PricewaterhouseCoopers. Larocque, a seasoned finance professional with over 30 years of experience, including 18 years as Senior Assurance Partner at PwC, brings expertise in IPOs, M&As, and mining-specific accounting.
Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQB: EUMNF) has successfully completed a 5-day continuous operation program at its Chvaletice Manganese Project's Demonstration Plant in the Czech Republic. The plant, which includes six main process stages, achieved key technical targets for producing high-purity electrolytic manganese metal (HPEMM).
The continuous operation ran from October 7 to October 12, 2024, with a target of producing at least 132 kg of HPEMM. The plant exceeded expectations, producing 172 kg of HPEMM with 100% reliability and no stoppage time. This achievement is important for accessing the next draw-down from the Orion financing package announced in November 2023.
The Demonstration Plant's success positions Euro Manganese as the only new high-purity manganese project outside China with a fully operational facility, potentially benefiting from the growing demand for high-purity manganese in battery production.
Euro Manganese has appointed Ms. Ludivine Wouters as a non-executive Director to its Board of Directors, effective October 2, 2024. This appointment follows Ms. Wouters' successful acquisition of a Director Identification Number (DIN) from the Australian Business Registry Services. John Webster, Chair of the Board, expressed enthusiasm about the appointment, highlighting Ms. Wouters' extensive experience in European policy on mining and minerals, particularly in critical raw materials.
The company believes her expertise will be instrumental as Euro Manganese strengthens its position in supporting the supply of critical materials essential for energy transition and focuses on delivering sustainable growth for shareholders.
Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQB: EUMNF) announces the appointment of Ms. Ludivine Wouters as a non-executive Director to its Board. Wouters, based in France, brings expertise in European mining and minerals policy, critical raw materials, and responsible sourcing. She is the managing partner of Latitude Five's Mining and Minerals practice and a Visiting Fellow with the European Council on Foreign Relations.
Simultaneously, Gregory Martyr steps down from the Board due to personal commitments. The company expresses gratitude for his valuable contributions since 2018. Wouters' appointment is pending her obtaining a director identification number from the Australian Business Registry Services, expected within 30 days.
Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQB: EUMNF) has signed an offtake term sheet with FeMoCat for the sale of high-purity manganese sulphate and magnesium carbonate from its Chvaletice Manganese Project in the Czech Republic. Key points:
1. FeMoCat will use these products for catalyst and Synthetic Hydrotalcites production at its Pardubice plant, less than 1 hour from Chvaletice.
2. The offtake represents a portion of planned HPMSM production and significant magnesium carbonate by-product.
3. Pricing is designed to meet debt finance banking covenants.
4. Deliveries will start from first production for an initial seven-year term.
5. HPMSM pricing will be on a take-or-pay basis, indexed to a western benchmark price.
6. The agreement highlights the value of producing high-purity manganese with leading ESG credentials in Europe.
Euro Manganese Inc. (EMN) has announced a change in its corporate leadership. Laurel Petryk will assume the role of Vice President Legal & Corporate Secretary effective September 1, 2024, replacing the retiring Fausto Taddei. Ms. Petryk, who joined EMN as General Counsel in 2021, brings over 24 years of legal experience in corporate, securities, governance, and mining sectors. She will be responsible for communications between EMN and the ASX.
The transition is part of EMN's long-standing succession plan, with Mr. Taddei supporting a seamless change and remaining available for guidance during the transition phase. Dr. Matthew James, President and CEO, expressed gratitude for Mr. Taddei's six-year contribution and welcomed Ms. Petryk's promotion, highlighting her exceptional skills in legal, regulatory compliance, and governance.