Element 25 Ltd (ASX:E25) has appointed finance advisory group BurnVoir Corporate Finance to commence the process of arranging financing for the development of the Butcherbird Project in Western Australia.
BurnVoir has assisted in arranging development finance for a number of projects in the Pilbara region.
These projects include Pilbara Minerals Ltd’s (ASX:PLS) Pilgangoora Lithium Project and Kalium Lakes Ltd’s (ASX:KLL) Beyondie Potash Project.
A pre-feasibility study (PFS) is underway on the high-purity manganese project and BurnVoir will also play a role in supporting its completion this year.
READ: Element 25 signs final Native Title Agreement for Butcherbird Manganese Project
Element 25’s executive director Justin Brown said: “BurnVoir has extensive experience in arranging development funding for high quality projects such as the Butcherbird Project, and we look forward to working closely with them to identify and obtain the optimal funding mix.
“As the funding solution is progressively implemented, we anticipate increased recognition of the underlying value of the Butcherbird Project.
“Funding will proceed in parallel with the work on the Butcherbird Project.
“BurnVoir will initially assist in the completion of the pre-feasibility study, including the financial evaluation of the project.”
READ: Element 25 to accelerate manganese project PFS after raising almost $1.39 million
The company is developing Australia’s largest onshore manganese resource at the Butcherbird project to produce high-purity manganese products.
Earlier this month the company signed the final Native Title Agreement required for the grant M52/1074 and development of the Butcherbird project.
The agreement recognises the Nyiyaparli People as traditional owners of the land and the Karlka Nyiyaparli Aboriginal Corporation RNTBC (KNAC) as the registered body corporate in relation to the land.