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3.6¢ euro manganese inc

Ann: EMN announces Investor Webinar, page-9

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Lazerbeam

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02/04/24

03:07

Post #: 73139234
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Originally posted by timmasbd: ↑

Thanks @BobRoberts1 - I didn't even read the part about emailing them questions. I've sent mine through. I've asked about offtake negotiations too and what the hold-up is there. For me it's the most highly concerning part of their endeavour. It all sounds good on paper, but if companies aren't willing to commit to a binding offtake (and we've been negotiating this with Verkor for about 12 months now) there is something wrong. I spoke with Matthew about 1.5 months ago and he mentioned that manganese wasn't getting the same attention from battery makers since it was a small part of the battery compared to other bits. Hence they've been having to work through and make them understand that no matter the percentage of the battery it makes up, if they don't have the supply for it they just can't manufacture the battery. He mentioned they had been dealing with procurement-type areas in the companies but have started to get more access to the business development arms of the organisations that are more "forward looking". It was also mentioned that there are other potential future suppliers of HPMSM who have a lower cost-point, making them more attractive, but noted that these projects won't come online until after EMN, and none have (or plan to) build a demonstration plant to de-risk at scale. Hence there's a high likelihood that their price points will increase and they will be further delayed. Matthew noted that they've learnt a lot from the demonstration plant and been able to optimise and fix a number of issues that otherwise would have presented at scale in the production plant. All that being said though - not having binding offtakes secured yet is a huge concern of mine (no matter the reasons and whether they are valid or not).

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https://youtu.be/R1-zCPfbyW8?t=799

This video provides an explanation of the OEM qualification process and general timelines. There really isn't a hold up as you say but the fact of the matter is it just takes time for the qualification (12-18 months and sometimes up to 2 years). Matt did say they expect to receive a binding offtake from Verkor in 2024.

EMN Price at posting: 8.9¢ Sentiment: Buy Disclosure: Held
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