# Giyani Announces Positive Definitive Feasibility Study Results for the K.Hill Battery-Grade Manganese Project in Botswana Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/giyani-announces-positive-definitive-feasibility-study-results-for-the-k-hill-ba--d0338e2f-d5f2-4a21-a5e0-6405aa8fad74 Original source: https://money.tmx.com/en/quote/EMM/news/5142819406664579/giyani-announces-positive-definitive-feasibility-study-results-for-the-k-hill-ba Publisher: tmx Original announcement: 2026-05-28T10:55:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Giyani Metals Corp. - Ticker: EMM - Exchange: TSX - Region: Botswana - Primary commodity: Manganese - Secondary commodities: None reported - Document categories: Production, Resource update, Metallurgy - Extracted: 2026-08-20 22:20:13 UTC Narrative sentiment: 0.90 · Bullish ## Minestarters Atlas summary Giyani Metals Corp. announced positive Definitive Feasibility Study \(DFS\) results for its K.Hill Battery-Grade Manganese Project in Botswana, highlighting strong economic returns. The DFS outlines a 25-year mine life with a post-tax NPV of US$481.5 million and an IRR of 20.3%, supported by an 87% metallurgical recovery for high-purity manganese products. The study also declares NI 43-101 compliant Mineral Reserves and Resources, positioning the project as a significant battery-grade manganese supplier. Reasoning: The Definitive Feasibility Study \(DFS\) for the K.Hill Battery-Grade Manganese Project demonstrates robust economics with a post-tax NPV of US$481.5 million and an IRR of 20.3% over a 25-year mine life. The project benefits from a high metallurgical recovery of 87% for battery-grade manganese products and includes significant Mineral Reserves and Resources, all compliant with NI 43-101 standards. - Positive factor: Strong economic returns \(NPV, IRR\) - Positive factor: High metallurgical recovery \(87%\) for battery-grade manganese - Positive factor: Declaration of Mineral Reserves and Resources - Positive factor: Long project life \(25 years\) - Positive factor: Successful demonstration plant operation - Positive factor: NI 43-101 compliant DFS Facts used in scoring: 24 ## Classification and evidence **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: The document is a Definitive Feasibility Study \(DFS\) for the K.Hill Battery-Grade Manganese Project. Evidence · text > results of the Definitive Feasibility Study \(" DFS "\) for its 100%-owned K.Hill Battery-Grade Manganese Project **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: Multiple Qualified Persons \(QPs\) are listed as having reviewed and approved the scientific and technical information in the news release. Evidence · text > The scientific and technical information in this news release has been reviewed and approved by the following Qualified Persons \("QPs"\) as defined under NI 43-101 **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The DFS and Mineral Reserve estimate are explicitly stated to be prepared in accordance with NI 43-101. Evidence · text > prepared in accordance with CIM Definition Standards \(2014\) and reported under NI 43-101 **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: The DFS supports the declaration of 1.92 Mt of Proven Mineral Reserves. Evidence · table > 1.92 Context: Proven **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: The DFS supports the declaration of 3.42 Mt of Probable Mineral Reserves. Evidence · table > 3.42 Context: Probable **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 includes 1.8 Mt of Measured Resources. Evidence · table > 1.8 Context: Measured **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 includes 4.2 Mt of Indicated Resources. Evidence · table > 4.2 Context: Indicated **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The Mineral Resource Statement includes 4.4 Mt of Inferred Resources, which are noted as providing potential for mine life extension. Evidence · table > 4.4 Context: Inferred **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: The steady-state metallurgical recovery is reported at 87%, which is strong for a hydrometallurgical process for manganese. Evidence · table > 87 Context: Steady-state metallurgical recovery **Pilot Scale Complete** Polarity: positive Definition: Pilot or demonstration plant testing completed under continuous operation. Why it applies: The document mentions the 'successful operation of the demonstration plant' which is equivalent to pilot-scale testwork. Evidence · text > The successful operation of the demonstration plant has been fundamental in supporting the final development of the process **Open Pit Mining** Polarity: neutral Story-specific tag Definition: No canonical definition is currently available. Why it applies: The DFS specifies a 'Conventional open pit mine' as the type of mine. Evidence · table > Conventional open pit mine Context: Type of mine **Hydrometallurgical Process** Polarity: neutral Story-specific tag Definition: No canonical definition is currently available. Why it applies: The DFS describes a 'Hydrometallurgical facility' for the production of battery-grade manganese. Evidence · table > Hydrometallurgical facility Context: Type of production facility ## Extracted facts Stored fact records: 0. Some facts used in scoring do not have a stored record. No stored fact records are available for this extraction. ## 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.