Q3 2024 Euro Manganese Inc Earnings Call (Australian and North American) Transcript
Key Points
- Euro Manganese Inc (EUMNF) successfully completed the commissioning of its demonstration plant in the Czech Republic, producing high-purity manganese sulfate.
- The company has identified several prospective funding sources through national and EU grant and incentive programs, including the EU Critical Raw Materials Act Strategic Project application.
- Euro Manganese Inc (EUMNF) has received confirmation from independent labs that its products meet target specifications for high purity manganese sulfate monohydrate.
- The company is engaged in advanced negotiations with eight parties for offtake agreements, indicating strong interest in its high purity manganese products.
- Euro Manganese Inc (EUMNF) is positioned to become the sole European integrated producer of high purity manganese in the battery value chain, benefiting from the EU's Critical Raw Materials Act.
- The market for electric vehicles (EVs) is experiencing slower growth, impacting demand forecasts and affecting end market demand for Euro Manganese Inc (EUMNF)'s products.
- Some potential customers are undergoing strategic reviews, delaying the progression of term sheet discussions and offtake agreements.
- The company is facing pressure from a difficult share market, impacting its share price.
- There is a delay in converting the Verkor agreement into a binding offtake due to the need for standardized contracts and market conditions.
- Euro Manganese Inc (EUMNF) may face challenges in securing the additional $30 million from Orion if offtake agreements are not finalized in time.
Good morning and good afternoon, everyone. Welcome to Euro Manganese's third quarter 2024 conference call. We still got people joining, so we'll give it another 30 seconds or so before we get started.
Please note this webcast is being recorded and a replay will be available on our website shortly. The slides that we use today and the transcript of this webinar can be downloaded from our website.
(Event Instructions) Before we begin note that this presentation involves forward-looking statements. Please refer to our cautionary statements here and the risk factors in our annual information form.
Our third-quarter financial statements and management discussion and analysis for the three- and nine-month periods ending June 30, 2024, were filed on August 14, 2024. All of these materials are available on our website, SEDAR+, and the ASX. Over to you, Matt.
Thank you, Neil. Good morning and good
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