The Conversation (0)
Hallgarten and Company have initiated coverage of Giyani Metals (TSXV:WDG), rating the company as a long-term strategy investment with a 12-month target price of $0.54, up 135 percent from its October 8, 2018 price of $0.23.
Hallgarten and Company have initiated coverage of Giyani Metals (TSXV:WDG), rating the company as a long-term strategy investment with a 12-month target price of $0.54, up 135 percent from its October 8, 2018 price of $0.23.
Giyani is a manganese company focused becoming a vertically-integrated independent supplier of battery-grade manganese in Africa. The report, authored by Christopher Ecclestone, provides an overview of Giyani’s position in the manganese industry, particularly through the ownership of eight prospecting licenses that cover 8,135 square kilometers in Botswana’s Kanye Basin. The company’s land hosts the past-producing Kgwakgwe Hill manganese mine, which was mined from 1957 to 1972 and produced a total 131,563 tonnes with average grades of 46.2 percent to 57.9 percent manganese.
In the report, Ecclestone provided the highlights for the company. To start with, the company recently published a maiden inferred resource of 1.1 million tonnes grading 31.2 percent manganese oxide, at a cut off grade of 18 percent manganese oxide. The company also has potential upcoming cashflow from a trial mine and workover of existing stockpiles. Secondly, supply constraints in the cobalt market have pushed battery manufacturers to develop solutions that are more reliant on the likes of nickel and manganese. As such, and due to the reductions in Chinese production, the price of electrolytic manganese metal (EMM) for batteries has been rallying.
To read the full report, click here.
Click here to connect with Giyani Metals (TSXV:WDG) for an Investor Presentation.
Source: giyanimetals.com
EMM:CA