VANCOUVER, British Columbia, April 02, 2020 (GLOBE NEWSWIRE) -- Euro Manganese Inc. (TSX-V / ASX: EMN) (“EMN” or the "Company") provides an update on its operations and mitigation measures at its Chvaletice Manganese Project in the Czech Republic, and on the effects of the ongoing COVID-19 (CV-19) outbreak.
Marco Romero, EMN’s CEO stated: “To date, neither the Company nor its network of consultants and contractors have experienced any incidences of CV-19 contagion. Our Project remains largely unaffected. We are doing well under the circumstances. Our Company places the safety and wellbeing of its employees, consultants, contractors and local community residents as its highest priority, and is actively monitoring and responding to the CV-19 situation. We take this health crisis very seriously and we are being extra cautious. We are following all applicable rules and guidelines.”
“Our company is resolute. We are moving ahead prudently with our most important work, in order to meet the expectations, schedules and needs of our prospective customers. We know our project is important for the Czech Republic, Europe and our customers.”
EMN’s short term priorities are:
1) Ongoing discussions and negotiations with potential customers, as well as strategic and financial partners, including those related to funding of the Project and its proposed demonstration plant;2) negotiation of value-adding operational, financial and commercial arrangements;3) preparation of the Feasibility Study; and4) importantly, finalization of our Environmental Impact Assessment (EIA) filings, for which the next step is the submission of the EIA Project Notification (project description) in Q2 2020.
“Our entire team is working from home and all collaborative activities are taking place online. We are well served by effective modern communications and information technology,” Mr. Romero said.
“We are fortunately in a phase of our project where most of the work can be conducted remotely. We have already completed four years of very extensive field work and studies on the Chvaletice Manganese Project site, well before such activities would have become difficult to impossible to perform due to the strict CV-19 containment regulations now in effect in the Czech Republic. The engineering and laboratory test work for our feasibility study continues to advance in China, where our service providers are back at work, after being down for almost two months.”
“We have aggressively tightened spending and are focusing our efforts and resources on mission-critical activities in order to address the key, near-term development milestones listed above. We remain productive and are advancing satisfactorily with the work at hand. Activities that are less time-sensitive or strategic in nature have been suspended. The proposed development of the Chvaletice demonstration plant is temporarily on-hold."
“We are confident that the measures we are implementing will allow us to maintain a reasonable pace of progress and set the stage for us to fast-track the development of this important project once we emerge from this global health crisis, for the benefit of our shareholders and all stakeholders.”
EMN will provide regular updates on progress and its project development schedule.
About Euro Manganese:
Euro Manganese Inc. is a Canadian mineral resource company focused on the development of the Chvaletice Manganese Project in the Czech Republic. The Project will recycle historic mine tailings that host Europe’s largest manganese deposit and result in an environmental remediation of this site. The European Union is emerging as a major electric vehicle manufacturing hub. EMN's goal is to become the preferred supplier of sustainably produced ultra-high-purity manganese products for the lithium-ion battery industry and for producers of specialty steel, high-technology chemicals and aluminum alloys.
This announcement was authorized for release by the CEO of Euro Manganese Inc.
|Contact: Euro Manganese Inc.|
|Marco A. Romero President & CEO (604)-681-1010 ext. 101||Fausto TaddeiVice President, Corporate Development& Corporate Secretary(604)-681-1010 ext. 105|
Company Address: 1500 – 1040 West Georgia Street,Vancouver, British Columbia, Canada, V6E 4H8
Certain statements in this news release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such forward-looking information or statements include, without limitation, statements regarding: the operational or financial impacts resulting from the COVID-19 outbreak; the effectiveness of preventative actions and contingency plans put in place by the Company to respond to the COVID-19 pandemic, including, but not limited to, social distancing, a non-essential travel ban, business continuity plans, and efforts to mitigate supply chain disruptions; changes in national and local government legislation or other government actions, particularly in response to the COVID-19 outbreak; and escalation of travel restrictions on people or products.
Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to, the factors discussed under “Risks Notice” and elsewhere in the Company’s MD&A, as well as the inability to obtain regulatory approvals in a timely manner; the potential for unknown or unexpected events to cause contractual conditions to not be satisfied; unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the Company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.
Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of the factors set forth in the “Risks Notice” section and elsewhere in the Company’s MD&A for the year ended September 30, 2019 and its Annual Information Form.
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