The capital raising last week fully funds a tripling of manganese concentrate production from 365,000 tpa to over 1 million tpa
The first shipment of E25 concentrate is anticipated to leave Port Hedland in early May, (with E25 receiving payment at that time)
The capital raising fully funds the flowsheet and other PFS work for the proposed battery grade manganese sulphate plant
The PFS for battery grade manganese sulphate is likely to be released in July-August 2021
E25 is having ongoing discussions with battery manufacturersVW announced last week that it would be using primarily manganese in its volume production automotive batteries from 2023 onward (as opposed to nickel or cobalt)
Ann: $35.5M Capital Raising to Fund Stage 2 Expansion and Battery, page-53
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