# Euro Manganese Announces Positive Preliminary Economic Assessment

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b

Original source: https://money.tmx.com/en/quote/EMN/news/6465746299810648/euro-manganese-announces-positive-preliminary-economic-assessment

Publisher: tmx

Original announcement: 2026-05-14T04:01:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Euro Manganese Inc.

- Ticker: EMN

- Exchange: TSX

- Region: Czech Republic

- Primary commodity: Manganese

- Secondary commodities: Magnesium

- Document categories: Resource update, Metallurgy, Other

- Extracted: 2026-08-20 23:05:54 UTC

Narrative sentiment: 0.80 · Bullish

## Minestarters Atlas summary

Euro Manganese announced a positive Preliminary Economic Assessment \(PEA\) for its Chvaletice Manganese Project in the Czech Republic, highlighting robust economics with a post-tax NPV of $492.1 million and an IRR of 13.8%. The PEA incorporates improved manganese recoveries of 60% for HPMSM and 61% for HPEMM, reflecting additional metallurgical test work and demonstration plant learnings. The project also benefits from a phased development strategy, reduced operating costs, and the inclusion of magnesium carbonate as a valuable by-product, positioning it as a strategic source of battery-grade manganese for the EU and US markets.

Reasoning: The Preliminary Economic Assessment \(PEA\) demonstrates strong project economics with robust returns \(post-tax NPV of $492.1M, IRR of 13.8%\), significantly improved manganese recoveries \(60-61%\), and reduced operating costs. The project benefits from a phased development strategy and the inclusion of magnesium as a valuable by-product, positioning it as a strategic and de-risked source of battery-grade manganese for the EU and US markets, despite being a preliminary assessment with no defined reserves.

- Positive factor: Robust Returns

- Positive factor: Higher Recoveries

- Positive factor: Reduced OPEX

- Positive factor: Phased Development

- Positive factor: By-product Value

- Positive factor: Strategic Importance

- Positive factor: Measured Resource

- Positive factor: Indicated Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Positive factor: Pilot Scale Complete

- Positive factor: Recovery Improving

- Negative factor: PEA is Preliminary

- Negative factor: No Reserves Defined

- Negative factor: Funding Still Required

- Negative factor: Cut-off Undisclosed

Low confidence — this extraction should be reviewed alongside the original source.

Facts used in scoring: 35

## Classification and evidence

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: The document announces the results of a new Preliminary Economic Assessment \(PEA\) which includes an updated Mineral Resource Estimate for the Chvaletice Manganese Project.

Evidence · text

> Euro Manganese Announces Positive Preliminary Economic Assessment ... is pleased to announce the results of a new Preliminary Economic Assessment \("PEA"\) for the development of its Chvaletice Manganese Project

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: The resource estimate and metallurgical test work are presented as part of a Preliminary Economic Assessment \(PEA\) report.

Evidence · text

> The PEA was completed by Tetra Tech Canada Inc. \("Tetra Tech"\). A NI 43-101 technical report on the PEA will be filed

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: The Mineral Resource Statement \(Table 6\) includes significant tonnage classified as Measured Resource for manganese and magnesium.

Evidence · table

> MEASURED

Context: 10,029,000

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: The Mineral Resource Statement \(Table 6\) includes tonnage classified as Indicated Resource for manganese and magnesium.

Evidence · table

> INDICATED

Context: 236,000

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: The news release states that the mineral resources are underpinned by estimates prepared by Competent Persons and Qualified Persons, and lists several QPs/CPs from Tetra Tech.

Evidence · text

> All production targets for the Chvaletice Manganese Project referred to in this news release are underpinned by estimated Measured and Indicated Mineral Resources prepared by Competent Persons and Qualified Persons in accordance with the requirements of the JORC Code and NI 43 - 101, respectively.

**JORC Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: The resource estimate is stated to be in accordance with the requirements of the JORC Code.

Evidence · text

> All production targets for the Chvaletice Manganese Project referred to in this news release are underpinned by estimated Measured and Indicated Mineral Resources prepared by Competent Persons and Qualified Persons in accordance with the requirements of the JORC Code and NI 43 - 101, respectively.

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: The resource estimate is stated to be in accordance with the requirements of NI 43-101.

Evidence · text

> All production targets for the Chvaletice Manganese Project referred to in this news release are underpinned by estimated Measured and Indicated Mineral Resources prepared by Competent Persons and Qualified Persons in accordance with the requirements of the JORC Code and NI 43 - 101, respectively.

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: The document explicitly states that a cut-off grade has not been applied to the block model for the resource statement, making direct comparison to other resources difficult.

Evidence · text

> A cut-off grade has not been applied to the block model.

**Recovery Improving**

Polarity: positive

Definition: Recovery improved versus a like-for-like prior test program on the same domain and route.

Why it applies: The highlights section explicitly mentions 'Higher Recoveries' reflecting additional metallurgical test work and process engineering updates.

Evidence · text

> Higher Recoveries, 60% for High-Purity Manganese Sulphate Monohydrate \(HPMSM\) and 61% for High Purity Manganese Metal \(HPEMM\), reflecting additional metallurgical test work, operational learnings from the demonstration plant, and process engineering updates.

**Pilot Scale Complete**

Polarity: positive

Definition: Pilot or demonstration plant testing completed under continuous operation.

Why it applies: The document refers to 'demonstration plant learnings' and 'three semi-continuous pilot plant runs' indicating advanced test work.

Evidence · text

> Higher Recoveries, 60% for High-Purity Manganese Sulphate Monohydrate \(HPMSM\) and 61% for High Purity Manganese Metal \(HPEMM\), reflecting additional metallurgical test work, operational learnings from the demonstration plant, and process engineering updates.

**Byproduct Commodity**

Polarity: neutral

Definition: The tested commodity is a byproduct rather than the primary economic driver.

Why it applies: Magnesium carbonate is explicitly described as a by-product that adds incremental value to the project.

Evidence · text

> Newly incorporated magnesium carbonate \("MgCO 3 "\) resource as a by-product enables production of up to 20,000 tpa MgCO 3 , adding incremental value with minimal capital.

## Extracted facts

Stored fact records: 35. Some facts used in scoring do not have a stored record.

## Resource Estimates (35)

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-0)

Chvaletice Manganese Project · manganese

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: manganese
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: measured
- Tonnes: 10029000
- Grade: 7.95
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: High-confidence Measured Resource for total manganese in Tailings Cell \#1, supporting the project's economic viability, though the resource cut-off is not explicitly applied.

- Positive factor: Measured Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Negative factor: Cut-off Undisclosed

Evidence · table

> 7.95

Context: 10,029,000

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-1)

Chvaletice Manganese Project · manganese

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: manganese
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: measured
- Tonnes: 10029000
- Grade: 6.49
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: High-confidence Measured Resource for soluble manganese in Tailings Cell \#1, indicating good extractability, though the resource cut-off is not explicitly applied.

- Positive factor: Measured Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Negative factor: Cut-off Undisclosed

Evidence · table

> 6.49

Context: 10,029,000

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-2)

Chvaletice Manganese Project · magnesium

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: magnesium
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: measured
- Tonnes: 10029000
- Grade: 0.95
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Measured Resource for magnesium as a by-product in Tailings Cell \#1, adding incremental value, though the resource cut-off is not explicitly applied.

- Positive factor: Measured Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Positive factor: Byproduct Commodity

- Negative factor: Cut-off Undisclosed

Evidence · table

> 0.95

Context: 10,029,000

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-3)

Chvaletice Manganese Project · manganese

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: manganese
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: indicated
- Tonnes: 236000
- Grade: 8.35
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Indicated Resource for total manganese in Tailings Cell \#1, contributing to the overall resource, though the resource cut-off is not explicitly applied.

- Positive factor: Indicated Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Negative factor: Cut-off Undisclosed

Evidence · table

> 8.35

Context: 236,000

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-4)

Chvaletice Manganese Project · manganese

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: manganese
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: indicated
- Tonnes: 236000
- Grade: 6.67
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Indicated Resource for soluble manganese in Tailings Cell \#1, contributing to the overall resource, though the resource cut-off is not explicitly applied.

- Positive factor: Indicated Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Negative factor: Cut-off Undisclosed

Evidence · table

> 6.67

Context: 236,000

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-5)

Chvaletice Manganese Project · magnesium

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: magnesium
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: indicated
- Tonnes: 236000
- Grade: 1.09
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Indicated Resource for magnesium as a by-product in Tailings Cell \#1, adding incremental value, though the resource cut-off is not explicitly applied.

- Positive factor: Indicated Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Positive factor: Byproduct Commodity

- Negative factor: Cut-off Undisclosed

Evidence · table

> 1.09

Context: 236,000

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-6)

Chvaletice Manganese Project · manganese

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: manganese
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: measured
- Tonnes: 12201000
- Grade: 6.79
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: High-confidence Measured Resource for total manganese in Tailings Cell \#2, supporting the project's economic viability, though the resource cut-off is not explicitly applied.

- Positive factor: Measured Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Negative factor: Cut-off Undisclosed

Evidence · table

> 6.79

Context: 12,201,000

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-7)

Chvaletice Manganese Project · manganese

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: manganese
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: measured
- Tonnes: 12201000
- Grade: 5.42
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: High-confidence Measured Resource for soluble manganese in Tailings Cell \#2, indicating good extractability, though the resource cut-off is not explicitly applied.

- Positive factor: Measured Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Negative factor: Cut-off Undisclosed

Evidence · table

> 5.42

Context: 12,201,000

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-8)

Chvaletice Manganese Project · magnesium

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: magnesium
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: measured
- Tonnes: 12201000
- Grade: 1.11
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Measured Resource for magnesium as a by-product in Tailings Cell \#2, adding incremental value, though the resource cut-off is not explicitly applied.

- Positive factor: Measured Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Positive factor: Byproduct Commodity

- Negative factor: Cut-off Undisclosed

Evidence · table

> 1.11

Context: 12,201,000

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-9)

Chvaletice Manganese Project · manganese

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: manganese
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: indicated
- Tonnes: 189000
- Grade: 7.22
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Indicated Resource for total manganese in Tailings Cell \#2, contributing to the overall resource, though the resource cut-off is not explicitly applied.

- Positive factor: Indicated Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Negative factor: Cut-off Undisclosed

Evidence · table

> 7.22

Context: 189,000

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-10)

Chvaletice Manganese Project · manganese

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: manganese
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: indicated
- Tonnes: 189000
- Grade: 5.3
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Indicated Resource for soluble manganese in Tailings Cell \#2, contributing to the overall resource, though the resource cut-off is not explicitly applied.

- Positive factor: Indicated Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Negative factor: Cut-off Undisclosed

Evidence · table

> 5.30

Context: 189,000

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-11)

Chvaletice Manganese Project · magnesium

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: magnesium
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: indicated
- Tonnes: 189000
- Grade: 1.27
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Indicated Resource for magnesium as a by-product in Tailings Cell \#2, adding incremental value, though the resource cut-off is not explicitly applied.

- Positive factor: Indicated Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Positive factor: Byproduct Commodity

- Negative factor: Cut-off Undisclosed

Evidence · table

> 1.27

Context: 189,000

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-12)

Chvaletice Manganese Project · manganese

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: manganese
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: measured
- Tonnes: 4265000
- Grade: 7.35
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: High-confidence Measured Resource for total manganese in Tailings Cell \#3, supporting the project's economic viability, though the resource cut-off is not explicitly applied.

- Positive factor: Measured Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Negative factor: Cut-off Undisclosed

Evidence · table

> 7.35

Context: 4,265,000

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-13)

Chvaletice Manganese Project · manganese

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: manganese
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: measured
- Tonnes: 4265000
- Grade: 5.63
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: High-confidence Measured Resource for soluble manganese in Tailings Cell \#3, indicating good extractability, though the resource cut-off is not explicitly applied.

- Positive factor: Measured Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Negative factor: Cut-off Undisclosed

Evidence · table

> 5.63

Context: 4,265,000

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-14)

Chvaletice Manganese Project · magnesium

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: magnesium
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: measured
- Tonnes: 4265000
- Grade: 0.96
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Measured Resource for magnesium as a by-product in Tailings Cell \#3, adding incremental value, though the resource cut-off is not explicitly applied.

- Positive factor: Measured Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Positive factor: Byproduct Commodity

- Negative factor: Cut-off Undisclosed

Evidence · table

> 0.96

Context: 4,265,000

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-15)

Chvaletice Manganese Project · manganese

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: manganese
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: indicated
- Tonnes: 39000
- Grade: 7.9
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Indicated Resource for total manganese in Tailings Cell \#3, contributing to the overall resource, though the resource cut-off is not explicitly applied.

- Positive factor: Indicated Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Negative factor: Cut-off Undisclosed

Evidence · table

> 7.90

Context: 39,000

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-16)

Chvaletice Manganese Project · manganese

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: manganese
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: indicated
- Tonnes: 39000
- Grade: 5.89
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Indicated Resource for soluble manganese in Tailings Cell \#3, contributing to the overall resource, though the resource cut-off is not explicitly applied.

- Positive factor: Indicated Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Negative factor: Cut-off Undisclosed

Evidence · table

> 5.89

Context: 39,000

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-17)

Chvaletice Manganese Project · magnesium

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: magnesium
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: indicated
- Tonnes: 39000
- Grade: 0.95
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Indicated Resource for magnesium as a by-product in Tailings Cell \#3, adding incremental value, though the resource cut-off is not explicitly applied.

- Positive factor: Indicated Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Positive factor: Byproduct Commodity

- Negative factor: Cut-off Undisclosed

Evidence · table

> 0.95

Context: 39,000

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-18)

Chvaletice Manganese Project · manganese

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: manganese
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: measured
- Tonnes: 26496000
- Grade: 7.32
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Significant high-confidence Measured Resource for total manganese, forming the bulk of the project's resource base, though the resource cut-off is not explicitly applied.

- Positive factor: Measured Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Negative factor: Cut-off Undisclosed

Evidence · table

> 7.32

Context: 26,496,000

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-19)

Chvaletice Manganese Project · manganese

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: manganese
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: measured
- Tonnes: 26496000
- Grade: 5.86
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Significant high-confidence Measured Resource for soluble manganese, indicating good extractability for the project, though the resource cut-off is not explicitly applied.

- Positive factor: Measured Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Negative factor: Cut-off Undisclosed

Evidence · table

> 5.86

Context: 26,496,000

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-20)

Chvaletice Manganese Project · magnesium

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: magnesium
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: measured
- Tonnes: 26496000
- Grade: 1.02
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Measured Resource for magnesium as a by-product, adding incremental value to the project, though the resource cut-off is not explicitly applied.

- Positive factor: Measured Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Positive factor: Byproduct Commodity

- Negative factor: Cut-off Undisclosed

Evidence · table

> 1.02

Context: 26,496,000

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-21)

Chvaletice Manganese Project · manganese

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: manganese
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: indicated
- Tonnes: 464000
- Grade: 7.85
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Indicated Resource for total manganese, contributing to the overall resource base, though the resource cut-off is not explicitly applied.

- Positive factor: Indicated Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Negative factor: Cut-off Undisclosed

Evidence · table

> 7.85

Context: 464,000

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-22)

Chvaletice Manganese Project · manganese

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: manganese
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: indicated
- Tonnes: 464000
- Grade: 6.05
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Indicated Resource for soluble manganese, contributing to the overall resource base, though the resource cut-off is not explicitly applied.

- Positive factor: Indicated Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Negative factor: Cut-off Undisclosed

Evidence · table

> 6.05

Context: 464,000

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-23)

Chvaletice Manganese Project · magnesium

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: magnesium
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: indicated
- Tonnes: 464000
- Grade: 1.15
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Indicated Resource for magnesium as a by-product, adding incremental value to the project, though the resource cut-off is not explicitly applied.

- Positive factor: Indicated Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Positive factor: Byproduct Commodity

- Negative factor: Cut-off Undisclosed

Evidence · table

> 1.15

Context: 464,000

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-24)

Chvaletice Manganese Project · manganese

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: manganese
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: indicated
- Tonnes: 26960000
- Grade: 7.33
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Combined Measured and Indicated Resource for total manganese, representing a high-confidence resource base for the project, though the resource cut-off is not explicitly applied.

- Positive factor: Indicated Resource

- Positive factor: Measured Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Negative factor: Cut-off Undisclosed

Evidence · table

> 7.33

Context: 26,960,000

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-25)

Chvaletice Manganese Project · manganese

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: manganese
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: indicated
- Tonnes: 26960000
- Grade: 5.86
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Combined Measured and Indicated Resource for soluble manganese, representing a high-confidence resource base for the project, though the resource cut-off is not explicitly applied.

- Positive factor: Indicated Resource

- Positive factor: Measured Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Negative factor: Cut-off Undisclosed

Evidence · table

> 5.86

Context: 26,960,000

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-26)

Chvaletice Manganese Project · magnesium

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: magnesium
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Resource Data

- Category: indicated
- Tonnes: 26960000
- Grade: 1.15
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Combined Measured and Indicated Resource for magnesium as a by-product, adding incremental value to the project, though the resource cut-off is not explicitly applied.

- Positive factor: Indicated Resource

- Positive factor: Measured Resource

- Positive factor: QP/CP Signed

- Positive factor: JORC Compliant

- Positive factor: NI 43-101 Compliant

- Positive factor: Byproduct Commodity

- Negative factor: Cut-off Undisclosed

Evidence · table

> 1.15

Context: 26,960,000

### Fact 28

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-27)

Chvaletice Manganese Project · manganese

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: manganese
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: High overall manganese recovery to HPEMM, reflecting improved metallurgical test work and demonstration plant learnings.

- Positive factor: Recovery Improving

- Positive factor: Pilot Scale Complete

Evidence · table

> 61.0%

Context: Overall Mn in HPEMM recovery

### Fact 29

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-28)

Chvaletice Manganese Project · manganese

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: manganese
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: High overall manganese recovery to HPMSM, reflecting improved metallurgical test work and demonstration plant learnings.

- Positive factor: Recovery Improving

- Positive factor: Pilot Scale Complete

Evidence · table

> 60.0%

Context: Overall Mn in HPMSM recovery

### Fact 30

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-29)

Chvaletice Manganese Project · magnesium

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: magnesium
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Moderate recovery for magnesium as a valuable by-product, adding incremental value to the project.

- Positive factor: Pilot Scale Complete

- Positive factor: Byproduct Commodity

Evidence · table

> 46.0%

Context: Overall Mg in Magnesium Carbonate Recovery

### Fact 31

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-30)

Chvaletice Manganese Project · manganese

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: manganese
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Strong recovery for manganese during the magnetic separation stage, contributing to overall project efficiency.

- Positive factor: Pilot Scale Complete

Evidence · text

> Magnetic separation: 82.1 to 90.1% tMn, averaging 86.1% tMn.

### Fact 32

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-31)

Chvaletice Manganese Project · manganese

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: manganese
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Moderate recovery for manganese during the leaching stage, a key step in the process.

- Positive factor: Pilot Scale Complete

Evidence · text

> Leaching recovery: 75% tMn.

### Fact 33

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-32)

Chvaletice Manganese Project · manganese

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: manganese
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Very high recovery for manganese during the purification and electrowinning stage, indicating efficient metal extraction.

- Positive factor: High Recovery

- Positive factor: Pilot Scale Complete

Evidence · text

> Purification & Electrowinning: 94.6% tMn.

### Fact 34

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-33)

Chvaletice Manganese Project · manganese

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: manganese
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Exceptional recovery for manganese during the conversion of HPEMM to HPMSM, demonstrating high efficiency in the final product stage.

- Positive factor: High Recovery

- Positive factor: Pilot Scale Complete

Evidence · text

> HPEMM to HPMSM: 98.4% tMn.

### Fact 35

[Link to this fact](https://atlas-staging.minestarters.com/news/euro-manganese-announces-positive-preliminary-economic-assessment--6b57a843-23b8-48c4-bac7-fbf634da537b#fact-resource-facts-34)

Chvaletice Manganese Project · magnesium

#### Identity

- Project: Chvaletice Manganese Project
- Commodity: magnesium
- Region: czech republic
- Reported Region: Czech Republic
- Ticker: EMN

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-14T00:00:00.000Z

Reasoning: Moderate recovery for magnesium as a valuable by-product, adding incremental value to the project.

- Positive factor: Pilot Scale Complete

- Positive factor: Byproduct Commodity

Evidence · text

> A process recovery of 45% was used for the estimates.

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.