Magnis Energy Technologies Limited (ASX: MNS) has completed the transaction to increase its shareholding in the iM3 New York Battery Plant as announced on 16 March 2020.

Magnis Energy Technologies Limited (“Magnis”, or the “Company”) (ASX:MNS) is pleased to announce that it has completed the transaction to increase its shareholding in the iM3 New York (iM3NY) Battery Plant as announced on 16 March 2020.

The composition of iM3NY at the completion of the transaction, places Magnis with a 53.39% direct holding. C4V will have a direct holding of 45.18% with Primet Precision Materials Inc and C&D Assembly Inc the remaining holders.

Magnis remains a 10% shareholder of C4V following this transaction, thus the ownership in iM3NY on a direct and indirect basis for Magnis will now be 57.91%.

This announcement has been authorised for release by the Board of Magnis Energy Technologies Ltd.

Source

australia resource investing asx:mns

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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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.

Keep reading... Show less

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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“We are making progress on our four priorities, identifying opportunities for operational improvement, advancing our ESG agenda, taking important investment decisions and stepping up our external engagement. We are making real and lasting changes to the way we engage, interact and operate and are committed to ensuring that we have strong and positive relationships wherever we do business. We have identified what we need to do to make Rio Tinto a better company for the long term, with the right teams in place to unleash our full potential.”

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As the Bonus Options will be issued for nil consideration, Lake is raising no capital from their issue. For every ten (10) shares held at 5:00 pm (Sydney time) on the Record Date, Eligible Shareholders will be issued with one (1) free Bonus Option.

The Bonus Options will have an exercise price $0.35 each, expiring on 15 October 2021 and, if exercised, each will result in the allotment and issue of one (1) fully paid ordinary share in Lake. Lake will not seek listing of the Bonus Options on ASX.

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Based in Buenos Aires, Sra. Amalia’s appointment will assist Lake and its local team in Argentina in engaging with local stakeholders and preparing for the development of clean lithium production in Argentina.

Sra. Saenz is a partner at the law firm, Zang, Bergel & Viaes in Buenos Aires, where she leads the firm’s energy and natural resources practice.

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Classic Minerals Limited Quarterly Activities Report

Perth, Australia (ABN Newswire) – Classic Minerals Limited (ASX:CLZ) has made significant progress at Kat Gap during the quarter as it strives to become a gold producer.

Highlights of the quarter include:

– Assay results returned for infill RC drilling testing the gap between oxide and deeper fresh rock high-grade gold mineralisation at Kat Gap.

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The Jadar project would scale up Rio Tinto’s exposure to battery materials, and demonstrate the company’s commitment to investing capital in a disciplined manner to further strengthen its portfolio for the global energy transition.

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Rio Tinto Chief Executive Jakob Stausholm said “Government stimulus in response to ongoing COVID-19 pressures has driven strong demand for our products at a time of constrained supply resulting in a significant spike in most prices. We focused on safely running our world-class assets and supplying products to our customers. This enabled us, despite operational challenges, to deliver record financial results with free cash flow of $10.2 billion and underlying earnings of $12.2 billion, after taxes and government royalties of $7.3 billion. We are further strengthening the portfolio with our commitment to fund the high-quality Jadar lithium project, which signals our large-scale entry into the fast-growing battery materials market. We will pay an interim dividend of 561 US cents per share, representing 75% of underlying earnings.

“We are making progress on our four priorities, identifying opportunities for operational improvement, advancing our ESG agenda, taking important investment decisions and stepping up our external engagement. We are making real and lasting changes to the way we engage, interact and operate and are committed to ensuring that we have strong and positive relationships wherever we do business. We have identified what we need to do to make Rio Tinto a better company for the long term, with the right teams in place to unleash our full potential.”

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Sydney, Australia (ABN Newswire) – Clean lithium developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF), in recognition of the support received from its shareholders, wishes to advise that it intends to undertake a bonus issue of options (Bonus Options) to all shareholders with an address in Australia or New Zealand (Eligible Shareholders) at 5:00 pm (Sydney time) on the Record Date (set out in the indicative timetable set out below*).

As the Bonus Options will be issued for nil consideration, Lake is raising no capital from their issue. For every ten (10) shares held at 5:00 pm (Sydney time) on the Record Date, Eligible Shareholders will be issued with one (1) free Bonus Option.

The Bonus Options will have an exercise price $0.35 each, expiring on 15 October 2021 and, if exercised, each will result in the allotment and issue of one (1) fully paid ordinary share in Lake. Lake will not seek listing of the Bonus Options on ASX.

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Lake Resources NL Argentina based Director Strengthens Board

Sydney, Australia (ABN Newswire) – Clean lithium developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) has strengthened its Board, announcing today the appointment of experienced energy/natural resources lawyer, Sra. Amalia Saenz as a Non-Executive Director.

Based in Buenos Aires, Sra. Amalia’s appointment will assist Lake and its local team in Argentina in engaging with local stakeholders and preparing for the development of clean lithium production in Argentina.

Sra. Saenz is a partner at the law firm, Zang, Bergel & Viaes in Buenos Aires, where she leads the firm’s energy and natural resources practice.

Keep reading... Show less

Classic Minerals Limited Quarterly Activities Report

Perth, Australia (ABN Newswire) – Classic Minerals Limited (ASX:CLZ) has made significant progress at Kat Gap during the quarter as it strives to become a gold producer.

Highlights of the quarter include:

– Assay results returned for infill RC drilling testing the gap between oxide and deeper fresh rock high-grade gold mineralisation at Kat Gap.

Keep reading... Show less

Rio Tinto commits funding for Jadar lithium project

Rio Tinto has committed $2.4 billion to the Jadar lithium-borates project in Serbia, one of the world’s largest greenfield lithium projects. The project remains subject to receiving all relevant approvals, permits and licences and ongoing engagement with local communities, the Government of Serbia and civil society.

The Jadar project would scale up Rio Tinto’s exposure to battery materials, and demonstrate the company’s commitment to investing capital in a disciplined manner to further strengthen its portfolio for the global energy transition.

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