American Manganese Inc.: Preliminary Feasibility Technical Report Filed on SEDAR
03 Juillet 2012 - 8:28PM
Marketwired Canada
Mr. Larry W. Reaugh, President and Chief Executive Officer of American Manganese
Inc. (TSX VENTURE:AMY)(PINKSHEETS:AMYZF)(FRANKFURT:2AM) ("American Manganese" or
the "Company"), is pleased to report that Tetra Tech has delivered the completed
NI 43-101 compliant Technical Report to the Company on June 29, 2012, and it is
now filed and available on SEDAR.
"This represents the culmination of 18 months of intensive work, and I am
pleased with the results," says Mr. Reaugh. He goes on to say, "We are very
excited with the overall recommendation to proceed to the next level of work,
engineering and pursuit of the required regulatory approval. I would like to
thank all of the contributors to this effort, notably Tetra Tech, Kemetco
Research Inc. and CPM Group."
About Tetra Tech
Tetra Tech is a leading provider of consulting, engineering, program management,
construction, and technical services. The Company supports government and
commercial clients by providing innovative solutions to complex problems focused
on water, environment, energy, infrastructure, and natural resources. The
company has been servicing the mining industry for more than 40 years and has
established a reputation for successfully executing NI 43-101 compliant
feasibility studies that meet the scrutiny of the international financing
community. With more than 13,000 employees worldwide, Tetra Tech's capabilities
span the entire project life cycle. In addition to offices in Canada, the
company has more than 330 offices worldwide, including locations in Arizona and
Nevada in close proximity to the Artillery Peak project.
About Kemetco Research Inc.
Kemetco Research is a privately owned contract Research and Development Company
specializing in extractive metallurgy, chemical processing and specialty
chemical analysis. Kemetco was formed after the acquisition of the Industrial
Process Division of BC Research. BC Research had been in operation for over 60
years as an R&D contractor in British Columbia, Canada.
About CPM Group (www.cpmgroup.com)
CPM Group is the world's premier commodities research and consulting company.
The firm's primary focus is on precious, industrial, and specialty metals, in
addition to undertaking research and analysis across all commodities markets. In
the ferroalloy industry CPM Group has developed a top-rated expertise in
molybdenum, vanadium, manganese and chromium, as well as other minor metals. CPM
Group provides a suite of research and consulting services related to the
financial management of commodities exposure, including fundamental market
research and analysis, consulting and advisory services, commodities management
and asset management services, and corporate finance advisory. Founded in 1986,
CPM Group is known for its research and analysis of the metals markets, its
overall economic analysis of commodities markets, and its expertise in financial
engineering, using derivatives to structure optimized positions for commercial
hedgers and institutional and high net worth individual investors.
About Manganese
China controls electrolytic manganese production supplying and producing 98% of
the world's needs (3 billion pounds per year).
There is no substitute for manganese in steel (total manganese market greater
than 33 billion pounds per year, fourth largest traded metal).
Manganese is a critical metal at risk for supply disruptions in the United
States as there is no U.S. production. EMM's greatest uses are the upgrading of
specialty steel (74%), and the manufacture of aluminum alloys (12%), electronics
(2%), and other applications (12%).
Electrolytic manganese dioxide (EMD) for the battery industry is expected to be
the fastest-growing segment of the manganese market. Ford Motors predicts
production of hybrid electric vehicles will account for 25% of its entire
vehicle line-up by 2020, and Hyundai has committed a lifetime guarantee to their
hybrid electric vehicles that use lithium ion batteries with manganese spinel.
China has a 20% export duty on EMM and the U.S. has a 14% import duty.
The current world price for electrolytic manganese metal is about $1.46 per
pound, while the U.S. price is about $1.66 per pound.
About American Manganese Inc.
American Manganese Inc. is a diversified specialty and critical metal Company
focusing on potentially becoming a producer of electrolytic manganese metal from
its Arizona Manganese Project.
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh, President and Chief Executive Officer
This news release may contain certain "Forward-Looking Statements" within the
meaning of Section 21E of the United States Securities Exchange Act of 1934, as
amended. All statements, other than statements of historical fact, included
herein are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such statements. Important factors that could cause actual
results to differ materially from the Company's expectations are disclosed in
the Company's documents filed from time to time with the TSX-Venture Exchange,
the British Columbia Securities Commission and the US Securities and Exchange
Commission.
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