Australia

Element 25 halted ahead of news on Butcherbird Manganese Project PFS completion

Element 25 Ltd (ASX:E25) has news pending in regard to completion of a pre-feasibility study (PFS) at Butcherbird Manganese Project near Newman in WA and has been granted a trading halt.

This halt will remain in place until the beginning of normal ASX trade on Tuesday, May 19, 2020, or when an announcement is released to the market, whichever occurs earliest.

E25 shares last traded at 20 cents, more than double the close of 9.5 cents on March 24.

High purity manganese project development


The company continues to make excellent progress with development of the Butcherbird project despite the restrictions brought about by COVID-19.

Although there has been some impact on the provision of services by third parties, the company has continued to progress the PFS.

The company is also continuing to bring forward plans for a potential start of production via a low capex manganese concentrate export operation.

Preserving cash


This work is progressing while the company is preserving as much cash as possible during the pandemic restrictions.

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