Larry W. Reaugh, President and Chief Executive Officer of RecycLiCo Battery Materials (“RecycLiCo Battery Materials” or “AMY” or the “Company”), (TSX.V: AMY; OTC-US: AMYZF; FSE: ID4) is pleased to provide this update on the potential opportunities for the Company’s Artillery Peak Manganese Project in Arizona.
Manganese ore prices have recently risen and the move back to manganese-dioxide metal for lithium-ion batteries (“LIBs”) has brought attention back to manganese. The Company has received queries to sell or purchase manganese products several times a month, with most requests being ore for delivery or purchase.
However, prices have eroded from the time AMY first got involved with their Artillery Peak project from $4.60/kg then to $2.05/kg today. AMY developed and patented a process for treating low-grade ores from 2009-2011 and initiated a pre-feasibility study with Tetra Tech in March of 2011. At that time, manganese was trading at $3.40/kg but eroded to $2.15/kg by the time the study was completed in 2012, rendering the project economically unattractive.
As the prices for manganese metals have yet to reach a favorable level, management will continue to hold its position at Artillery Peak and concentrate instead on AMY’s more valuable process patents in the US, South Africa and China.
Management speculates the executive order signed by Donald Trump to reduce US reliance on foreign-sourced critical minerals could push manganese to the forefront, with manganese at the top of the critical minerals list as there is no production in U.S. or Canada. This will have a positive effect on AMY’s manganese assets and could positively affect the state of our project.
About RecycLiCo Battery Materials
RecycLiCo Battery Materials 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 RecycLiCo Battery Materials toward the examination of applying its patented technology for other purposes and materials. RecycLiCo Battery Materials aims to capitalize on its patented technology and proprietary know-how to become and industry leader in the recycling of spent electric vehicle lithium-ion batteries having cathode chemistries such as: Lithium-Cobalt, Lithium-Cobalt-Nickel-Manganese, and Lithium-Manganese (Please see the Company’s July 27, 2017 press release for further details).
On behalf of Management
RecycLiCo Battery Materials
Larry W. Reaugh
President and Chief Executive Officer
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The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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 Toronto Stock Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.