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American Manganese Inc.(TSXV:AMY) announced that the Company will be amending its June 28, 2012 report entitled “Technical Report and Prefeasibility Study, Artillery Peak Project, Mohave County, Arizona”. As a result of the amended bases case, the Artillery Peak project is deemed to be not economic at the moment.
As quoted in the press release:
Due to a lack of publicly available information on the electrolytic manganese metal market, the Report was prepared using a price forecast developed by The CPM Group, an industry leader in metal price forecasting. However, due to concerns raised by the British Columbia Securities Commission, the Company has agreed to change the Base Case to the more conservative 3 Year Trailing Average from the CPM Expected Case.
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