Euro Manganese Inc (ASX:EMN, TSX-V:EMN, OTCQX:EUMNF) has accelerated the structuring and procurement of undertaking funding for its flagship Chvaletice Manganese Challenge in the Czech Republic with the appointment of Stifel Nicolaus Europe Constrained, a wholly-owned subsidiary of Stifel Money Corp, as venture finance advisor.
EMN describes Stifel as a main financial advisory group in the battery metals space, with the knowledge to initiate dialogue concerning Euro Manganese and many likely financiers while also facilitating because of diligence routines.
Stifel presents a suite of institutional expert services, which include strategic business advisory across both equally credit card debt and equity marketplaces.
The important milestones required to protected challenge funding contain:
- completion of the feasibility study for the Chvaletice Manganese Venture (expected in the coming weeks)
- execution of binding offtake agreements
- finalising land entry agreements and
- approval of the Environmental and Social Effects Evaluation (ESIA) and remaining permitting.
Euro Manganese expects to submit the ESIA to the Czech Ministry of the Ecosystem in the 3rd quarter of this calendar year.
“Important move for the company”
“Stifel is a well-regarded money answers advisory agency with a profitable keep track of file of credit card debt and equity raises,” Euro Manganese CEO and president Matthew James explained.
“Euro Manganese stands to gain from their sizeable practical experience in task funding and associations with strategic companions in the European EV (electrical vehicle) battery market place.
“This appointment is an important stage for the firm as we search for to execute task milestones and shift towards a ultimate expenditure choice, predicted in 2023.
“We glance forward to performing with the Stifel workforce to execute a profitable funding deal for the Chvaletice Manganese Task.”
Euro Manganese aims to provide manganese goods to the European Union’s electric motor vehicle battery industry from the Chvaletice Job.
The venture is a remediation prospect that includes reprocessing aged tailings from a decommissioned mine to deliver superior-purity manganese solutions.
“Fully traceable and sought-just after product”
“Euro Manganese is uniquely positioned to capitalise on the progress in the European electrical car marketplace,” Stifel head of cash answers group Jan-Erik Again reported.
“Having the only sizable manganese resource in Europe put together with the growth of a processing plant to develop large-purity manganese merchandise, they will have a entirely traceable and sought-after products for the EV market.
“Moreover, as the Chvaletice task consists of reprocessing and rehabilitating historic mine tailings, the environmental qualifications of the project ought to be very compelling for financiers.
“Stifel is happy to partner with Euro Manganese to assist progress this essential battery supplies challenge.”