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Giyani Metals Corp.

TSXV | EMM Mining

Giyani Metals Corp. uploaded a Corporate Update
November 14, 2022

Giyani Announces the Results of its Feasibility Study for the K.Hill Battery-Grade Manganese Project

Post-tax NPV at 8% of US$481M, IRR of 28%

Highlights:

  • Robust economic returns: a post-tax net present value (“NPV”), at an 8% discount rate, of US$481M (C$649M) and a post-tax internal rate of return (“IRR”) of 28%
  • Low capital intensity for what will be one of the largest HPMSM projects in the world: estimated initial capital expenditure of US$281M (C$379M), including contingency of US$32M (C$43M), for a fully integrated battery raw materials project
  • Strong free cash flow: net free cash flow over the life of the Project is estimated at US$1,093M (C$1,476M), equivalent to US$99M (C$134M) per year with first commercial production in 2025
  • Significant geological upside offers potential to expand Project and extend mine life: exploration work to upgrade the 3.1 Mt of Inferred Resources in the K.Hill southerly extension is progressing and the addition of these resources and the Otse prospect provides the potential to expand the Project in future years and extend the mine life significantly
  • Operational advantage of higher grade ore and conventional mining: Giyani’s Probable Reserve grade of 18.9% manganese oxide (“MnO”) is the highest among its listed battery-grade manganese peers and underpins a scalable operation with an initial throughput of 200 thousand tonnes (“kt”) ore production per annum, offering potential future production capacity expansion
  • LI Battery demand expected to increase significantly: CPM Group LLC (“CPM”), an independent research and consultancy company, projects demand for HPMSM in LI Batteries to grow by nearly 30 times between 2021 and 2036
  • Pathway to becoming a low-carbon producer: Giyani’s HPMSM production process directly from manganese oxide ore does not require power-intensive calcining or electrorefining and the planned integration of 4.5 MW of solar power contributes to a very competitive Scope 1 and 2 emissions footprint of only 1.4 kg of carbon dioxide equivalent per kilogram of HPMSM (see Giyani News Release of September 29, 2022)
  • Strong environmental, social and governance (“ESG”) credentials: the Project’s development strategy has been formulated around the mitigation hierarchy of “avoid -minimize-mitigate” with initiatives such as renewable energy integration, water self-sufficiency and dry stack tailings management to be included in the Environmental and Social Impact Assessment (“ ESIA”), currently estimated to be completed and submitted to the authorities in Botswana in Q1 2023
  • Optimization work opens opportunities for enhancing Project value: in addition to potential life of project (“LOP”) extensions through further exploration success, work is ongoing to lower operating costs, particularly related to certain consumables affected by supply chain disruption and global inflation
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Giyani Metals Corp. uploaded a Presentation
October 20, 2022

Giyani Metals Presentation

Highlights:

  • Strong base case to supply a growing EV market, with significant upside
  • Operating in a premier jurisdiction with strong local support
  • Building a responsible supplier of premium battery materials
  • Leadership team with a track record of project delivery
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Giyani Metals Corp. uploaded a News Release
October 12, 2022

Giyani Announces Senior Leadership Changes

  • Giyani Metals Corp. announces that Jonathan Henry has been appointed Executive Chair
  • Mr. Henry, previously Non-Executive Chair, will manage a leadership transition period as the Company moves into the next phase of development and towards production
  • With the move of the Chair of the Board to an executive position, the Board has appointed Stephanie Hart, an existing Non-Executive Director, to the position of Lead Independent Director
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Giyani Metals Corp. uploaded a News Release
September 29, 2022

Giyani Announces Results of Life Cycle Assessment Study for the K.Hill Battery Manganese Project

Highlights:

  • The LCA assesses the global warming potential (“GWP”) of the production of one kilogram (“kg”) of high-purity manganese sulphate monohydrate (“HPMSM”) produced from manganese oxide resources, extracted at K.Hill.
  • The LCA was conducted according to the requirements of relevant ISO standards, including a critical review.
  • Results conclude a total product GWP of 3.2 kg carbon dioxide equivalent (“CO₂ eq.”) per kg HPMSM.
  • Scope 1 and scope 2 emissions contribute 1.4 kg CO₂ eq. per kg HPMSM.
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Arrowhead published an Equity Research Report on Giyani Metals Corp.
September 20, 2022

Giyani Metals (TSXV:EMM) Research Update

Highlights:

  • Arrowhead is updating coverage on Giyani Metals with a fair-value bracket of CAD 2.3 to CAD 3.5 (share price on September 20, 2022: CAD 0.28) based on the Net Present Value method
  • Giyani Metals continued its Reverse Circulation drilling program at the K.Hill extension. In addition to 54 holes that had already been drilled, the company planned an additional 19 Reverse Circulation holes for this section. Out of these 19 Reverse Circulation holes, 11 have already been drilled up to 730 meters, 2 are in progress, and the remaining 6 will be drilled in Q3 2022. The drill holes are expected to be assayed in H2 2022 by SRK Consulting for an updated mineral resource estimate for the K. Hill Project
  • The company expects the feasibility study for its K.Hill project, which started in 2019, to be completed and released by the end of Q3 2022, which is an essential step toward its aim of becoming a leading independent producer of high-purity manganese for the electric vehicle battery market.
  • The company signed the construction contract for the demonstration plant with Met63, a specialist construction and engineering company, to construct and commission the demo plant by mid-2023, with a view to initiate shipping of product samples to clients in H2 2023
  • The company plans to complete Environmental and Social Impact Assessment Studies to gain environmental authorization as a part of the mining license application. For that purpose, the company has appointed Ms. Nicola Spooner, a highly experienced environmental and social (E&S) advisory professional, with 30 years of experience in E&S advisory services to the natural resources and clean energy sectors
  • The company appointed HCF International Advisers Limited, a leading independent corporate finance advisory company, as a financial adviser to assess the company’s funding options.
  • The company has also appointed Renmark Financial Communications to provide corporate communication and investor relations services
  • In H1 2022, out of CAD 28.1 mn which the company raised from 3 equity financings in FY 2020 and FY 2021, the company had CAD 19.4 mn in cash and cash equivalents which will enable the company to adequately cover its short-term work programs
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Giyani Metals Corp. uploaded a News Release
September 6, 2022

Giyani Signs Construction Contract for a Demonstration Plant for the K.Hill Battery Manganese Project

Highlights:

  • Specialist hydrometallurgical engineering and consulting company Met63 engaged to construct and commission the Demo Plant in Johannesburg, South Africa
  • The Demo Plant will be built according to the process flowsheet developed by Coffey Geotechnics Ltd., a Tetra Tech company (“Tetra Tech”), and completed and accepted by Met63
  • The Demo Plant will produce high-purity manganese sulphate monohydrate (“HPMSM”) samples that will be sent for testing by lithium-ion battery manufacturers and automotive original equipment manufacturers (“OEM”)
  • Construction of the Demo Plant currently anticipated to be completed by mid-2023 with first HPMSM product samples expected to be available for shipment in H2 2023
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Giyani Metals Corp. uploaded a News Release
August 22, 2022

Giyani Announces Further Strengthening of Board and Appointment of Strategic Advisors

  • Appointment of Nicola Spooner, a highly experienced environmental and social (“E&S”) advisory professional, as non-executive director of the Company
  • Engagement of HCF International Advisers Limited (“HCF”) as financial advisor to assess various
    funding options for the Company’s K.Hill battery grade manganese project in Botswana (“K.Hill Battery Manganese Project” or “K.Hill”)
  • Appointment of Renmark Financial Communications (“Renmark”) to provide corporate communication and investor relations services
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Arrowhead published an Equity Research Report on Giyani Metals Corp.
July 11, 2022

Giyani Metals (TSXV:EMM) Research Update

  • Arrowhead is updating coverage on Giyani Metals with a fair-value bracket of CAD 2.31 to CAD 3.50 (share price on July 08, 2022: CAD 0.32) based on the Net Present Value (NPV) method
  • Giyani Metals completed the Reverse Circulation drilling program at the K.Hill extension. It drilled 54 holes across 4.6 km on a 75 x 75 m grid spacing during this program to convert Inferred resources into Indicated resources
  • The company has completed the sample assaying from Otse Prospect, which will be further submitted to SRK Consulting for its maiden mineral resource estimation at this site. The company plans to complete the resource estimation by Q4 2022
  • It has exercised its option to order the additional crystallizer unit and evaporator for the demo plant. This second crystallizer unit will ensure continuous production of 600kg of dry, high-purity manganese sulphate monohydrate
  • Mr. Jacques du Toit, former Tetra Tech manager of the K.Hill project, has been appointed as the Vice President of Technical Services at Giyani Metals
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Giyani Metals Corp. uploaded a Presentation
June 17, 2022

June 2022 – Giyani Metals Presentation

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Giyani Metals Corp. uploaded a News Release
June 17, 2022

Giyani Announces Grant of Options

  • 750,000 Options shall fully vest on June 17, 2022
  • 250,000 Options shall vest in three equal installments with the provision that the Optionee remains engaged by the Company at the vesting date: 1/3 shall vest on July 2, 2022; 1/3 shall vest on July 2, 2023; and 1/3 shall vest on July 2, 2024
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Industries

  • Mining
    • Other Main Metals (incl. ‘Battery Metals’)
      • Manganese

Contact Information

Giyani Metals Corp. (TSXV:EMM) is a high purity manganese development company with projects in Botswana, Africa. The Company’s flagship K.Hill project is a low capex, low opex, near-surface deposit that is currently going through a feasibility study to produce the high purity manganese used in the battery electric vehicle market.

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