New York Battery Plant Independent Valuation

New York Battery Plant Independent Valuation

Magnis Energy Technologies Limited is pleased to announce that Imperium3 New York has completed a valuation on the lithium-ion battery cell facility.

Magnis Energy Technologies Limited [“Magnis” or the “Companr] (ASX:MNS) is pleased to announce that Imperium3 New York [“iM3NY”] has recently completed a valuation on the lithium-ion battery cell manufacturing facility in New York as part of due diligence for project financing. Magnis currently owns over 50% through its direct and indirect ownership in iM3NY and its stake in CLIV.

Independent Valuation

The independent valuation was completed by O’Brien 6- Gere a wholly owned subsidiary of the Ramboll Group. Ramboll Group is based in Denmark and employs over 15,000 engineers globally with over 300 offices in 35 countries.

The valuation began in August 2019 and went through all the items purchased as part of the acquisition made in early 2018. In the current condition of the equipment the report attributes a valuation today of US$71.3L-1 Million [A$105.5 Million]. With Magnis having an ownership of over 50% in iM3NY through its direct and indirect holdings including its stake in CLIV, a value of approximately A$53 Million can be attributed to Magnis’ share in the value of the equipment.

Magnis Managing Director Marc Vogts commented: “We believe that the purchase of the New York battery plant will fast track cell manufacturing at commercial scale for the company once funding for commissioning of the plant is secured. The purchase of the equipment last year was a strategic purchase and today’s announcement validates our decision.”

“We continue to prioritise efforts to secure funding and the third-party valuation of our battery plant will assist in financing considerations.”

Click here to connect with Magnis Energy Technologies (ASX:MNS) for an Investor Presentation.

Source

Significant Initial Fast Charging Battery Results In Optimised Commercial Cells

  • Initial successful results in Fast Charging [FC] battery program using commercial optimised multilayer 1.6 Ah pouch cells
  • After 600 cycles over 93% capacity retention with 30 min charge and 30 min discharge
  • Tests have begun with Extra Fast Charging [EFC] to deliver >85% charge in 6 minutes
  • Tests have begun with Extra Fast Charging [EFC] to deliver >85% charge in 6 minutes

Magnis Energy Technologies Limited (ASX: MNS) is very pleased to announce that the game changing results announced on 11 September 2020 for EFC batteries using unoptimised commercial cells, have continued with the current commercial optimised cell programs. The cells are developed by Magnis partner, Charge CCCV, LLC. (“CCV”).

FC Results
Cycling results from an optimised commercial size cell to date, using CCV technology, have produced exciting results, with the cycling life retention over 600 cycles, with a 30 minute charge and 30 minute discharge. This is the first step before starting more aggressive tests with 6 minute charge that started last week. The optimised cell is within 99% energy density of a regular iM3 energy cell, which means minimal energy density loss for an FC cell.

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Magnis Energy Technologies


Overview

Magnis Energy Technologies Limited (ASX:MNS) is a vertically-integrated battery technology developer, manufacturer and near-term graphite producer. The company's flagship Nachu graphite project in Tanzania is one of the world's most advanced and shovel-ready graphite projects. The project is fully-permitted, has a bankable feasibility study (BFS), a power supply agreement and a favorable port authority agreement.

Magnis has demonstrated that Nachu represents a viable alternative for end-users seeking a greener and lower-cost supply chain for graphite anodes in lithium-ion batteries. The project is able to produce high-performance, high-purity graphite products without the use of any chemical or thermal purification methods.

The global graphite market is expected to reach $18.7 billion by 2022. The demand for graphite in recent years has been due to a rise in clean energy initiatives, new building materials and the demand for lithium-ion batteries. Graphite is an essential component in lithium-ion batteries and as electric vehicle sales grow, the demand for the metal could grow as well.

In addition to developing its graphite project, Magnis has been working with Charge CCCV LLC (C4V) and Boston Energy and Innovation (BEI) to develop two lithium-ion battery gigafactories in New York, USA and Townsville, Australia.

The New York factory is expected to be operational in the near term and is expected to initially produce one gigawatt hour, but can increase its capacity to 15 gigawatt hours. The factory has received $13.25 million in funding from the New York state government.

The Townsville gigafactory is planned for first production in Q3 2022. The feasibility study for the project was funded by the Queensland State Government. The report outlined an NPV of AU$2.55 billion and an IRR of 21 percent. It also suggested the adoption of a three-phased construction model to reduce capital costs and for the integration of new technology as the facility is built. Magnis and its operating partners have been engaged in discussions with various end-users to secure offtake and sales agreements. Additionally, Magnis is responsible for sourcing the anode material and technology to be used at the factories.

Company Highlights

  • One of the largest mineral resources of large flake graphite in the world: 174 million tonnes at 5.4 percent total graphitic carbon for 9.3 million tonnes contained graphite.
  • BFS released in March 2016 contained an after-tax NVP (10 percent of $1.69 billion, an IRR of 98 percent, a capital payback of 14 months and a capital cost estimate of $269 million.
  • Demonstrated ability to produce a greater than 99.95 percent purity coated spherical graphite anode product with no chemical purification processes.
  • Key environmental, mining permits and fiscal agreement in place.
  • Power contracts secured and port authority agreement nearly complete.
  • Arranging project financing and offtake and supply agreements.
  • Acquired 10 percent interest in C4V.
  • C4V has developed the first solid-state lithium-ion battery.
  • 50.8 percent interest (direct and indirect shareholding) in the New York gigafactory.
  • Recently a key member and stakeholder in delivering the feasibility study to Queensland Government for the planned Townsville battery plant (18 gigawatt hours).

Equipment purchase reduces overall capex and fast tracks production at the New York Battery Plant

  • Machinery acquired from lithium-ion cell manufacturer A123 Systems and is being relocated from Michigan to Huron Campus
  • iM3NY now has the ability to produce 20 and 50amp hour cells to cover all major markets for lithium-ion batteries
  • First production on track for late 2021

Magnis Energy Technologies Limited (ASX: MNS) is pleased to announce that Imperium3 New York (iM3NY) has acquired state-of-the-art machinery from lithium-ion cell manufacturer A123 Systems to reduce overall capex requirements while bringing forward production. Magnis has a direct and indirect holding of approximately 58% of iM3NY.

The new equipment includes formation lines, slurry making, coating, stacking machines, solvent recovery, and refining. The machinery will form part of a full assembly line enabling the company to further advance its technology while also expanding its production capabilities.

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Perth, Australia (ABN Newswire) – Australia’s next rare earths producer Hastings Technology Metals Ltd (ASX:HAS) is pleased to announce stand-out results from metallurgical test work carried out on drilling samples from Simon’s Find, one of the key deposits that make up the Yangibana Rare Earths Project (Yangibana) in Western Australia’s Gascoyne region.

The test work carried out at Simon’s Find is a key milestone in the Company’s finalisation of its updated Ore Reserves and mine scheduling that will underpin Yangibana’s development.

The Simon’s Find deposit is part of the 8km-long Bald Hill – Simon’s Find – Frasers mineralised trend and is strategically located close to the site of Yangibana’s proposed process plant and infrastructure.

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Australia’s economy is largely based on its natural resources, with the minerals sector making the greatest contribution to the nation’s exports.

Four of Australia’s states and territories rank in the top 20 mining jurisdictions in the world, according to the Fraser Institute’s latest annual survey of mining companies: Western Australia (fourth), Southern Australia (seventh), Queensland (16th) and the Northern Territory (19th).

These mining jurisdictions demonstrate a high level of investment attractiveness mainly due to their mineral-rich geology, solid infrastructure, stellar economic environment and government support for the resources industry at both the federal and state level.

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Newcrest Mining Limited – Exploration Update 10 June 2021

Highlights

  • At Red Chris, drilling continues to expand the higher grade mineralisation intersected at East Ridge and in the Main Zone:
    • At East Ridge, the new discovery adjacent to the East Zone, drilling continues to expand the footprint of the higher grade mineralisation with RC688 returning 344m @ 0.70g/t Au & 0.75% Cu from 776m, incl. 170m @ 1.1g/t Au & 1.1% Cu from 892m. This hole is 100m east of the discovery hole RC678 (previously reported).
    • East Ridge is located 300m east of East Zone and outside of Newcrest's Red Chris Mineral Resource Estimate. Drilling to define the extent of the higher grade mineralisation is ongoing.
    • In the Main Zone, drilling has intersected high grade mineralisation with RC683 returning 300m @ 0.41g/t Au & 0.51% Cu from 260m, incl. 114m @ 0.67g/t Au & 0.85% Cu from 390m, incl. 22m @ 1.1g/t Au & 1.4% Cu from 464m. This hole is 100m east of RC679 (previously reported).
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Piedmont Lithium Inc., (“Piedmont" or the “Company") (NASDAQ: PLL; ASX: PLL) is pleased to report the results of the updated scoping study (“Scoping Study" or “Study") for its proposed integrated lithium hydroxide business (“Carolina Lithium" or the “Project") in Gaston County, North Carolina. The Study confirms that Carolina Lithium will be one of the world's largest and lowest-cost producers of lithium hydroxide, with a sustainability footprint that is superior to incumbent producers, all in an ideal location to supply the rapidly growing electric vehicle supply chain in the United States.

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Highlights:

  • 2,000m diamond drilling program has now commenced at the Santa Teresa Gold Project
  • Drilling aims to:
    • Follow on prior drilling in key areas where high grade intersections such as ST-005 with 1 m at 958.4 g/t were encountered (see Comet Asx announcement of 9 June 2020) Test extensions of known gold mineralisation along strike and down dip
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Hastings Technology Metals Ltd Stand-Out Simon’s Find Metallurgical Test Results

Perth, Australia (ABN Newswire) – Australia’s next rare earths producer Hastings Technology Metals Ltd (ASX:HAS) is pleased to announce stand-out results from metallurgical test work carried out on drilling samples from Simon’s Find, one of the key deposits that make up the Yangibana Rare Earths Project (Yangibana) in Western Australia’s Gascoyne region.

The test work carried out at Simon’s Find is a key milestone in the Company’s finalisation of its updated Ore Reserves and mine scheduling that will underpin Yangibana’s development.

The Simon’s Find deposit is part of the 8km-long Bald Hill – Simon’s Find – Frasers mineralised trend and is strategically located close to the site of Yangibana’s proposed process plant and infrastructure.

Keep reading... Show less

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Australia’s economy is largely based on its natural resources, with the minerals sector making the greatest contribution to the nation’s exports.

Four of Australia’s states and territories rank in the top 20 mining jurisdictions in the world, according to the Fraser Institute’s latest annual survey of mining companies: Western Australia (fourth), Southern Australia (seventh), Queensland (16th) and the Northern Territory (19th).

These mining jurisdictions demonstrate a high level of investment attractiveness mainly due to their mineral-rich geology, solid infrastructure, stellar economic environment and government support for the resources industry at both the federal and state level.

Keep reading... Show less

Newcrest Mining Limited – Exploration Update 10 June 2021

Highlights

  • At Red Chris, drilling continues to expand the higher grade mineralisation intersected at East Ridge and in the Main Zone:
    • At East Ridge, the new discovery adjacent to the East Zone, drilling continues to expand the footprint of the higher grade mineralisation with RC688 returning 344m @ 0.70g/t Au & 0.75% Cu from 776m, incl. 170m @ 1.1g/t Au & 1.1% Cu from 892m. This hole is 100m east of the discovery hole RC678 (previously reported).
    • East Ridge is located 300m east of East Zone and outside of Newcrest's Red Chris Mineral Resource Estimate. Drilling to define the extent of the higher grade mineralisation is ongoing.
    • In the Main Zone, drilling has intersected high grade mineralisation with RC683 returning 300m @ 0.41g/t Au & 0.51% Cu from 260m, incl. 114m @ 0.67g/t Au & 0.85% Cu from 390m, incl. 22m @ 1.1g/t Au & 1.4% Cu from 464m. This hole is 100m east of RC679 (previously reported).
    • Main Zone has the potential for further higher grade mineralisation beneath and to the south west of the open pit.
Keep reading... Show less

Scoping Update Highlights the Exceptional Economics and Industry-Leading Sustainability of Piedmont’s Carolina Lithium Project

Piedmont Lithium Inc., (“Piedmont" or the “Company") (NASDAQ: PLL; ASX: PLL) is pleased to report the results of the updated scoping study (“Scoping Study" or “Study") for its proposed integrated lithium hydroxide business (“Carolina Lithium" or the “Project") in Gaston County, North Carolina. The Study confirms that Carolina Lithium will be one of the world's largest and lowest-cost producers of lithium hydroxide, with a sustainability footprint that is superior to incumbent producers, all in an ideal location to supply the rapidly growing electric vehicle supply chain in the United States.

Keep reading... Show less

Drilling Commences at Santa Teresa Gold Project

Highlights:

  • 2,000m diamond drilling program has now commenced at the Santa Teresa Gold Project
  • Drilling aims to:
    • Follow on prior drilling in key areas where high grade intersections such as ST-005 with 1 m at 958.4 g/t were encountered (see Comet Asx announcement of 9 June 2020) Test extensions of known gold mineralisation along strike and down dip
    • Expand knowledge of the structure of the veins and controlling features of the mineralisation
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 Piedmont Focused on Increased Sustainability With 40% Increase in Quartz, Feldspar, and Mica Mineral Resources

  • Mineral Resource estimates have increased by 40% for quartz (11.5Mt), feldspar (17.8Mt), and mica (1.6Mt)
  • Piedmont has added John Walker, former CEO of The Quartz Corp, as a strategic advisor to the Company
  • Market analysis indicates far greater potential demand for Piedmont industrial mineral products than prior Company estimates
  • The Company is advanced in discussions with prospective regional customers and strategic partners in the solar glass, engineered quartz, ceramic tile, and other industrial minerals markets
  • Expanded quartz, feldspar, and mica production will feature in the Company’s upcoming technical studies

Piedmont Lithium Limited (“Piedmont” or the “Company”) (Nasdaq:PLL; ASX:PLL) is to announce an updated Mineral Resource estimate for industrial mineral products quartz, feldspar, and mica. The estimate is based on the lithium Mineral Resource previously reported on April 8, 2021 (39.2Mt @ 1.09 Li2O%) for spodumene bearing pegmatites at the Company’s flagship Piedmont Carolina Lithium Project (“Project”) in North Carolina, USA.

Table 1: Mineral Resource Estimates for Industrial Minerals Piedmont Carolina Lithium Project

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