American Manganese CEO Larry Reaugh Discusses Private Placement and the State of the Market

American Manganese Inc (TSXV:AMY; PINKS:AMYZF;FRANK:2AM) CEO Larry Reaugh spoke to host Jim Goddard on his advertising segment, Company Showcase. Reaugh discussed a number of topics, including the company’s recently announced private placement agreement with an undisclosed partner, the career lessons that led him to accept the offer, as well as the state of the cobalt and lithium markets.
In discussing the private placement, Reaugh took a few steps back to three decades ago, when his company, as well as so many others, was depreciated as a result of the Black Monday crash on October 19, 1987. In the days leading up to the crash, Reaugh turned down an offer from a British bank, a decision that he very much regretted following the crash. His motto now is “you shouldn’t turn down money when it’s offered to you.”
Reaugh also discussed the state of the cobalt and lithium markets. In his opinion, cobalt and lithium will not be on the shelf in the near future as there will be limited supply to meet the growing demands for electric vehicles. His message to companies requiring cobalt and lithium is that they should proactively secure their supply. American Manganese’s scrap recycling reproduces 10 percent of cathode material, making it a viable avenue for lithium and cobalt supply.
To listen to the full interview, click here.
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