ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

AMY Recylico Battery Materials Inc

0.085
0.00 (0.00%)
20 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Recylico Battery Materials Inc TSXV:AMY TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.085 0.085 0.09 0.09 0.085 0.09 66,858 19:51:55

American Manganese Inc.: Artillery Peak Project Continues to Focus on Battery Market

30/08/2012 12:00pm

Marketwired Canada


Larry W. Reaugh, President and Chief Executive Officer of American Manganese
Inc. ("American Manganese" or the "Company"), (TSX
VENTURE:AMY)(PINKSHEETS:AMYZF)(FRANKFURT:2AM), provides corporate guidance for
advancing its 100% owned Artillery Peak Manganese Project (Mohave County,
Arizona) in light of the pending filing of the amended Technical Report.


Mr. Reaugh says, "The current market conditions for base metals have created
serious challenges, particularly for junior companies. While we are naturally
disappointed with the recent events, the Company cannot lose sight of the long
term advantages that have motivated our work on the Artillery Peak Project from
the beginning. When we began this project, the manganese deposits in the area
had been known for decades, but there was no known way to extract the manganese
on a commercial scale. Our proprietary process resolved technical problems that
had prevented development of these resources for over 50 years. The Technical
Report confirms that the technical aspects for mining and processing for the
contemplated project have been thoroughly analyzed and significantly de-risked."


"Of course, one of our priorities is to continue to examine potential cost
reductions, to improve project economics. Because our process is new, there are
a number of modifications and improvements we want to test. The principal ones
are identified in the Company's Technical Report, but we do not yet have
sufficient data to confirm how they will affect project economics. Furthermore,
we remain optimistic about an upward trend in EMM market prices over the next
few years and will continue to monitor this with a view to update the PFS and
adjust our development strategy accordingly.


Our other priority is to continue investigating the use of our resource for the
production of battery materials. Because our technology is based on chemical
processes, rather than conventional grinding or roasting, it is readily
adaptable to the production of both electrolytic manganese dioxide (EMD) and
chemical manganese dioxide (CMD). We have successfully produced both products in
laboratory testing."


As announced on March 7 2012, American Manganese Inc. has retained Kemetco
Research Inc. of Richmond, B.C., to undertake research in the production of an
improved lithium manganese dioxide. This project was initiated on March 9, 2012
and is expected to run for one year, and will focus on producing
lithium-manganese products for use in test batteries and optimizing the final
product characteristics. The subject of this research will be discussed by Norm
Chow, President of Kemetco Research Inc. at the 2012 Battery Power Convention on
September 19th in Denver, Colorado. For information visit:
http://www.batterypoweronline.com/conferences/program/conference-sessions/.


Mr. Reaugh goes on to say, "The Company is fortunate that its unique, patent
pending hydrometallurgical process is readily adapted to move between producing
either EMM or EMD and CMD. This hydrometallurgical production process is where
the potential of the project lies as it reduces the metallic impurities found in
traditional production of EMD, which can cause potentially dangerous failure of
a lithium ion battery."


"Not only is the market for battery products growing faster than we expected,
but the technology powering advanced batteries is improving at a rapid rate. The
introduction of cleaner EMD and CMD materials into the marketplace is an
exciting opportunity. The Company intends to focus its resources on EMD and CMD
so as to best identify and exploit the opportunities in this arena. End users of
EMM, EMD, and CMD are where the Company has received the majority of interest in
ongoing discussions around possible strategic partnerships. These groups
recognize the strategic imperative of supply chain security; and the risks, lead
time and money needed to build a new mine."


About Kemetco Research Inc.

Kemetco Research is a privately owned contract Research and Development Company
specializing in extractive metallurgy, chemical processing and specialty
chemical analysis. Kemetco was formed after the acquisition of the Industrial
Process Division of BC Research. BC Research had been in operation for over 60
years as an R&D contractor in British Columbia, Canada.


About Manganese

China controls electrolytic manganese metal production, supplying and producing
98% of the world's needs (3 billion pounds per year).


There is no substitute for manganese in steel (total manganese market greater
than 33 billion pounds per year, fourth largest traded metal).


Manganese is a critical metal at risk for supply disruptions in the United
States as there is no U.S. production. EMM's greatest uses are the upgrading of
specialty steel (74%), and the manufacture of aluminum alloys (12%), electronics
(2%), and other applications (12%).


Electrolytic manganese dioxide (EMD) for the battery industry is expected to be
the fastest-growing segment of the manganese market. Ford Motors predicts
production of hybrid electric vehicles will account for 25% of its entire
vehicle line-up by 2020, and Hyundai has committed a lifetime guarantee to their
hybrid electric vehicles that use lithium ion batteries with manganese spinel.


China has a 20% export duty on EMM and the U.S. has a 14% import duty.

About American Manganese Inc.

American Manganese Inc. is a diversified specialty and critical metal Company
focusing on potentially becoming a producer of electrolytic manganese metal,
electrolytic manganese dioxide and chemical manganese dioxide from its Arizona
Manganese Project.


This release has been reviewed by Michael MacLeod, P. Eng., a qualified person
pursuant to National Instrument 43-101.


On behalf of Management

AMERICAN MANGANESE INC.

Larry W. Reaugh, President and Chief Executive Officer

This news release may contain certain "Forward-Looking Statements" within the
meaning of Section 21E of the United States Securities Exchange Act of 1934, as
amended. All statements, other than statements of historical fact, included
herein are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such statements. Important factors that could cause actual
results to differ materially from the Company's expectations are disclosed in
the Company's documents filed from time to time with the TSX-Venture Exchange,
the British Columbia Securities Commission and the US Securities and Exchange
Commission.


1 Year Recylico Battery Materials Chart

1 Year Recylico Battery Materials Chart

1 Month Recylico Battery Materials Chart

1 Month Recylico Battery Materials Chart

Your Recent History

Delayed Upgrade Clock