Element 25 Ltd (ASX:E25) has been placed in a trading halt while awaiting the release of a material announcement regarding the company’s Butcherbird Manganese Project.
Unless ASX decides otherwise, the securities will remain in a trading halt until the earlier of the commencement of normal trading on Thursday, 3 December 2020 or when the announcement is released to the market.
Butcherbird Project progresses
The company continues to accelerate project development activities at Butcherbird, with the appointment of a mining contractor and resident manager.
The development of the project remains on time and on budget, with the company fully funded to first production based on current forecasts and this is expected to be achieved next quarter.
Camp construction is underway, with key processing plant equipment in transit from vendors and the work program for the development of the borefield has commenced and the expansion case pre-feasibility study (PFS) is nearing completion.