American Manganese Inc.(TSXV:AMY) announced that it has decided to stay focused on the battery market after receiving its latest Artillery Peak project technical report. The Company also stated that it will continue to work with Kemetco Research Inc. to work on its production of improved lithium manganese oxide.
As quoted in the press release:
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.
American Manganese, President and CEO, Larry Reaugh, commented:
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.