Element 25 Limited

December 2023 Quarterly Report

Element 25 Limited (E25 or Company) (ASX: E25; OTCQX: ELMTF) is pleased to present its Quarterly Activities and Cash Flow Report.


QUARTERLY HIGHLIGHTS

Butcherbird Manganese Operations, Western Australia

  • Butcherbird Expansion Feasibility Study targets 1.1 million tonnes per annum (Mtpa) manganese production.
  • Study demonstrates strong fundamentals, with robust economic returns and rapid capital payback:

  • Expansion envisages expanded open-cut mining methods, modified primary comminution circuit and dense media separation (DMS) back-end solution to optimise grade and recoveries.
  • Expanded operation will establish Butcherbird as a low-cost Mn operation with a US$2.76/dmtu C1 FOB cost – which will ensure sustainable profitability at lower manganese prices compared to the current pilot operation.
  • Low capital cost of A$49.8M with annual operation cashflow of A$57.3M at full production – payback period of 14 months from start of operations.
  • Study used all available Measured and Indicated Resources within the mine plan to support a 7.2-year mine life – which represents 36% of the total mineral resource inventory within granted mining lease M52/1074.
  • E25 plans to undertake infill drilling in areas containing Inferred Resources, outside the current mine plan, within the next 12 months targeting an additional 20-25 years of mine reserves at the proposed production levels.
Battery Grade High Purity Manganese (HPMSM) Development – Louisiana USA
  • E25 approved for US$57 million of tax incentives under Louisiana State’s Industrial Tax Exempt Program (ITEP).
  • Two key international patents lodged under the Patent Co-Operation Treaty, expected to be processed in 2024.

Corporate

  • Non-Executive Director John Ribbons was appointed Chairman following Seamus Cornelius’ decision to step down from E25 Board.


Click here for the full ASX Release

This article includes content from Element 25 Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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