Announcement Date: 2022-11-14
Announcement Type: Feasibility Study
Announcement Code: NI43-101
Company name: Giyani Metals Corp.
Project name: K-Hill
Location: Botswana
Commodities: Manganese
Highlight: Feasibility Study result incl. Post Tax NPV (8%) of USD $481M & IRR of 28.3%
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: TORONTO, Nov. 14, 2022 (GLOBE NEWSWIRE) — Giyani Metals Corp. (TSXV: EMM, GR: A2DUU8) (“Giyani” or the “Company”) is pleased to provide results of the feasibility study (“FS”) for the K.Hill battery-grade manganese project in Botswana (the “Project” or “K.Hill”). The FS has been prepared by SRK Consulting (“SRK”), as lead, on an integrated mining and processing operation for the onsite production of high-purity manganese sulphate monohydrate (“HPMSM”) directly from manganese oxide ore mined at K.Hill. HPMSM is a refined precursor material used in the production of cathode powders for lithium-ion batteries (“LI Batteries”) deployed in electric vehicles (“EVs”). K.Hill’s total Indicated Resource of 2.1 million tonnes (“Mt”), estimated by SRK in February 2022, was evaluated for the purpose of the FS and almost 100% of the Indicated Resources have been converted into 2.0 Mt of Probable Reserves. The Inferred Resource of 3.1 Mt for K.Hill, estimated by SRK, is in the process of evaluation to be upgraded into the Indicated Resource category. New Mineral Resource Estimates for K.Hill and the nearby Otse manganese oxide prospect are currently targeted for completion in H1 2023. Alongside the optimization work that will be completed after the FS release, which will review opportunities to enhance the Project’s value, we continue to evaluate the 3.1 Mt of Inferred Resources at K.Hill and potential additional resources at nearby Otse still to be consolidated into the Project plan, with the view to extend K.Hill’s operating life and production capacity significantly.
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