From GlobeNewswire: 2024-05-15 17:59:00

Euro Manganese Inc. announced financial results for the second fiscal quarter. The company reported cash and cash equivalents of approximately C$20.1 million and working capital of C$15.5 million as of March 31, 2024. The Chvaletice Manganese Project in the Czech Republic received environmental approval and is under appraisal for debt financing with the European Investment Bank. Euro Manganese’s progress aligns with EU and US regulations for supplying critical raw materials for energy transition.

Key developments for Euro Manganese include the approval of the Environmental and Social Impact Assessment (ESIA) for the Chvaletice Project in the Czech Republic by the Ministry of Environment. The company also appointed a Project Director to oversee large-scale project delivery. Euro Manganese remains well-funded to achieve key milestones, despite a decrease in cash and working capital compared to the previous fiscal quarter.

Euro Manganese’s CEO, Dr. Matthew James, highlighted the progress made on the Chvaletice Project and the importance of recent regulatory approvals by the EU and US. The company is well-positioned to meet the requirements for supplying critical raw materials for the energy transition, as reflected in the Chvaletice Project’s unique waste-to-value recycling model. Euro Manganese is focused on becoming a leading producer of high-purity manganese for the electric vehicle industry, with operations in the Czech Republic and Québec, Canada.

Investors and stakeholders can participate in two conference calls hosted by Euro Manganese, aimed at providing updates on the company’s progress and milestones. Both calls will have the same content, with replays and transcripts available on Euro Manganese’s website. The company’s dual listing on the TSX.V and ASX, alongside trading on the OTCQB, reflects its commitment to transparency and adherence to regulatory standards. Euro Manganese continues to explore opportunities for growth and development in the battery materials sector.



Read more at GlobeNewswire:: Euro Manganese Reports Second Fiscal Quarter 2024 Financial