Martin Kepman CEO MANGANESE X ENERGY CORP
What does Eric Sprott's investment mean for Manganese X?
The C$2 million investment by Eric Sprott, comprising a 26.6% stake in the company, has brought a new level of international visibility and recognition. Since the announcement, we have seen increased interest from European investors. After reviewing the Battery Hill project’s 2022 PEA and its strong economics, Eric identified undervalued potential within the company. He views manganese as an overlooked critical mineral that is poised to play a significant role in future battery chemistry. How is manganese used in battery chemistry?
I believe manganese is the emerging battery material of the 2020s. It offers several advantages for EV battery cathodes, including durability, robustness, stability, improved safety, faster charge cycles, and a more favorable cost compared to other critical metals such as cobalt and nickel. What is the state of the North American manganese supply chain?
Our mission is to become the first supplier of critical high-purity manganese for the North American supply chain. Few projects are currently in development, and meeting purity standards requires advanced technology. After nine years, we are still refining our proprietary process. I see many current operators as unlikely to meet their projected timelines, potentially creating supply vulnerabilities. Can you tell us about Manganese X’s partnership with C4V?
Since early 2024, we have been collaborating with C4V, a recognized leader battery technology and operator of a gigafactory in New York State. Our partnership is currently focused on C4V’s Digital DNA Supply Chain Qualification Program, which includes rigorous testing to evaluate the long-cycle performance and durability of Manganese X’s high-purity, battery-grade manganese material. What did recent drilling results from Battery Hill show?
In April 2025, we announced results from an infill and expansion drilling campaign at the Battery Hill project, aimed at refining our geological understanding ahead of our forthcoming NI 43-101 mineral resource estimate, which is currently in progress.
Mark Haywood President and CEO EDM RESOURCES
Could you introduce EDM Resources?
EDM Resources acquired the Scotia Mine in Nova Scotia out of receivership in 2011. Since 2019, we have completed multiple technical reports and mineral resource updates, revalidated the resource model, tripled the overall mineral resource, and completed two pre-feasibility studies. We have also engaged with potential off-takers to secure project financing.
The operation primarily focuses on zinc and lead, but we also discovered a substantial gypsum deposit, which could generate approximately US$135 million in revenue. How does the project benefit from existing infrastructure?
The project is located near Halifax’s international airport, along an all-season highway. It includes a fully built processing facility with conventional crushing, grinding, flotation, and dewatering infrastructure, which we will refurbish. The site also features administrative offices, warehouses, and maintenance shops. Additionally, we have a valley-style tailings dam, originally built in the 1970s and expanded by Acadian Mining in 2007–2008. The replacement cost of all the infrastructure on site is estimated at over C$300 million, a figure likely higher with current costs and steel tariffs, making it difficult to replicate such an operation today. Could you tell us more about the project’s financing through offtakes and royalties?
Regarding zinc and lead, in 2022 we signed an off-take agreement with IXM, a Switzerland-based company. We are also engaged in negotiations with a gypsum off-taker based in Canada. Additionally, we are working with Silver Crown Royalties to complete a royalty agreement for our silver by-product. We are also considering future royalties on zinc and lead as we move closer to production. What makes Nova Scotia an attractive mining jurisdiction?
Nova Scotia has a well-established mining history and is considered mining-friendly. I was invited to meet with the Minister of Natural Resources and Renewables, and the Premier has shown strong interest in fostering job creation and economic development.