As manganese gains attention as a potential major component in the next
generation of battery technology, Manganese X Energy Corp. is moving rapidly
into the North American manganese market.
In the last month, Manganese X Energy Corp. (MN:TSX.V) has taken actions to
accelerate its entry into the manganese market. The company has entered an
agreement with Globex Mining Enterprises Inc. to earn a 100% interest in the
Houlton Woodstock project. Manganese X's news release of Nov. 30 detailed the terms of the options
agreement, including $200,000 in cash payments, of which $100,000 has already
been made; the issuing of 4 million post-consolidation shares; and spending a
minimum of $1 million in exploration expenditures. Globex will retain a 3%
gross metal royalty.
Christopher Ecclestone of Hallgarten & Company, in a Dec. 6 initiation
report, noted that the Houlton Woodstock project "is one of the largest
Manganese showings in the Northeast of the US/Canada on the Maine/New Brunswick
border."
Manganese X is moving quickly to explore the Houlton Woodstock property.
On Dec. 21, the company announced that it completed its diamond drill program:
"The drilling program consisted of 16 holes totaling 3,589 meters, and
was completed as an initial test of three primary areas on the property: Iron
Ore Hill, Sharpe Farm and Moody Hill manganese occurrences. The drill targets
were based on the results derived from gravity and magnetometer surveys
completed in October." Drill results are expected toward the end of
January 2017.
Manganese has long been used in alkaline batteries, but according to
Ecclestone, "The more cutting edge application though is known as the
Lithiated Manganese Dioxide (LMD) Battery. The standard mix of LMD used in
batteries contains 4% Lithium, 61% manganese and 35% oxygen by atomic weight.
The attractions of this format are that LMD has high power output, thermal
stability and enhanced safety when compared to other lithium ion battery
types. For these reasons LMD batteries are currently being used in the Chevy
Volt and Nissan Leaf. Research at the University of Illinois has achieved an
advanced prototype battery, using Lithiated Manganese that can be recharged
in as little as two minutes (equivalent to filling a gas tank)." He
added that "battery consumption of Electrolytic Manganese Dioxide (EMD)
has been predicted to be fastest growing segment of manganese production with
a CAGR [compound annual growth rate] of 5.1% from 2015 to 2022."
According to Manganese X, the long-term goal of the company is to
"concentrate on other high potential manganese prospects which are
located in North America, as well as exploring various opportunities with the
intent of integrating and supplying value added materials to the lithium ion
battery and other alternative energy industries. Manganese X Energy will
focus on Electrolytic Manganese Dioxide (EMD), which is defined as converting
manganese into a very pure high quality electrolytic manganese dioxide of
99.7% purity."
"Manganese is shrugging off it rather prosaic image as 'just' another
steel alloy metal and is now being seen in many quarters as one of the rising
battery metals. Manganese X is one of the few to have recognized this trend
and is seeking to create a source of EMM in the North America where hitherto
dependence upon China has been the norm," concluded Ecclestone.
The company, formerly known as Sunset Cove Mining Inc., commenced trading
on the TSX Venture Exchange on Dec. 2. Ecclestone noted that the name change
was made "to better reflect the new exploration focus it will be
undertaking in 2017."
