American Manganese Discusses Plans for 2018 and Reviews 2017
VANCOUVER, BC / ACCESSWIRE / January 19, 2018 / Larry W. Reaugh, President and Chief Executive Officer of American Manganese Inc. ("American Manganese" or "AMI" or the "Company"), (TSX-V: AMY; OTC PINK: AMYZF; FSE: 2AM), is pleased to describe its goals for 2018 and review the company's activities and accomplishments from 2017. The company will continue its aggressive research and development programs for its patent-pending recycling opportunity by building a 1 kg/hour pilot plant utilizing Lithium-Ion Battery scraps as feedstock.
2018 (current price Cobalt $77,000/tonne)
The Company's goals for this year include:
- Kemetco to commence the bench scale test work for new IP's to be patented and incorporated into the new pilot plant design and construction.
- Build a 1 kg/hour pilot plant, and procure battery scraps as feed stock for pilot plant testing.
- Investigate contracting a research/engineering study for developing an automated disassembly process for lithium-ion batteries.
- Seeking a partner to fund the ongoing work.
- Complete the necessary research for filing two to three additional patents which were recognized last year. These additional patents will strengthen AMI's IP position and create opportunities for recovering other valuable materials which the company aims to capitalize on.
- Complete a business plan which got underway in December 2017.
2017 - Review
AMI has accomplished all their 2017 commitments on time and on budget. The company completed bench scale tests resulting in recoveries of 100% for all commonly used cathode metals, Lithium, Cobalt, Nickel, Aluminum and Manganese. Cathode materials were recycled from commonly used battery chemistries including: Lithium Cobalt (LiCo), Lithium Nickel Manganese Cobalt (LiNMC), Lithium Nickel Manganese Aluminum (LNMA) and Lithium Manganese Oxide (LMO). Kemetco successfully built a working prototype button cell rechargeable battery from recycled cathode materials for the above chemistries.
AMI has filed for a US Patent on November 10, 2017 to protect its Intellectual LIB Battery Recycling process.
2017 was a pivotal year for AMI's recycling opportunity where recognition of the potential viability of their process is being recognized within the lithium ion battery community.
American Manganese raised $1,193,000 during the year to carry out the above work. Since August of 2016 American Manganese's market capital has increased from about $2 to about forty $40 million dollars.
AMI received federal research funding from IRAP in early 2017.
During 2017 AMI's patent pending recycling technology has received international exposure from international publications such as Bloomberg Financial, Thompson Reuters and several national and international recycling publications. Also, the company was invited to present their process at NAATBatt battery recycling workshop in Ann Arbor, Michigan, the Cobalt Conference in Marrakech, Morocco and the 22nd International Congress Battery Recycling Conference in Lisbon, Portugal.
In December, Mr. Reaugh was invited by Bloomberg Financial to be a panelist on Electric Vehicle Battery material and the Electric vehicle supply chain and its inaugural "The Future of Mobility Summit" at the Four Seasons Hotel Silicon Valley in Palo Alto, California, February 2, 2018.
On December 28, 2017 the Company entered into a joint-venture agreement with the Australian miner Longford Resources. Longford may earn a 60% interest in the Rocher Deboule Copper Gold Cobalt Property by expending $2,000,000 two million on exploration over four years. The Company and shareholders will benefit from any significant discoveries Longford may make.
The Company has added to the value of intellectual property while de-risking its patent pending process.
About American Manganese Inc.
American Manganese Inc. is a diversified specialty and critical metal company focused on capitalizing on its patented intellectual property through low cost production or recovery of electrolytic manganese products throughout the world, and recycling of spent electric vehicle lithium ion rechargeable batteries.
Interest in the Company's patented process has adjusted the focus of American Manganese Inc. toward the examination of applying its patented technology for other purposes and materials. American Manganese Inc. aims to capitalize on its patented technology and proprietary know-how to become the industry leader in recycling spent electric vehicle lithium ion batteries and recovering 100% of the cathode metals such as: Lithium-Cobalt, Lithium-Cobalt-Nickel-Manganese, Lithium-Cobalt- Aluminum and Lithium-Manganese (Please see the Company's July 27, 2017 press release for further details).
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh
President and Chief Executive Officer
Information Contacts:
Larry W. Reaugh
President and Chief Executive Officer
Telephone: 778 574 4444; Email: lreaugh@amymn.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain "forward-looking statements", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.
SOURCE: American Manganese Inc.