HALIFAX, Nova Scotia, July 06, 2023 (GLOBE NEWSWIRE) -- ELCORA ADVANCED MATERIALS CORP. (TSX.V:ERA | Frankfurt:ELM | OTCQB – ECORF), (the "Company" or "Elcora"), is proud to announce that it has secured two more orders for a total of 1500 metric tons of 37% + manganese ore. The orders are for high-quality manganese ore and are set to be delivered by the end of July 2023 hence securing sales revenue for the second month in a row.
The new orders represent another significant milestone for Elcora as it continues to expand its customer base and strengthen its position as a leading supplier of high-quality materials. The Company's commitment to quality, sustainability, and customer service has earned it a reputation as a trusted supplier of materials across various industries.
"We are delighted to receive these new orders for our manganese ore from new customers," said Troy Grant, CEO of Elcora Advanced Materials Corp. "This order underscores our commitment to delivering high-quality materials, and we are honoured to be a trusted supplier to our clients."
Elcora's manganese ore is of high quality, with available purity between 37% and 44%. The Company’s quality control process ensures that the ore is prepared to meet the exacting standards of its customers.
"We are proud of the trust that our customers have placed in us and our ability to deliver high-quality materials on time," said Grant. "We are confident that these orders will be the start of a long-term partnership with these new clients, and we anticipate repeat orders in the future."
The Manganese ore index for equivalent 37% Mn grade currently trades at about $2,97USD / dmtu (or about $110 USD/ton) FOB Port Elizabeth (https://www.fastmarkets.com). Elcora aims to sell as close as possible to the index whilst allowing for natural price adjustments as we develop the asset to compete with established supply sources of equivalent grade.
About Elcora Advanced Materials Corp.
Elcora was founded in 2011 and has been structured to become a vertically integrated battery material company. Elcora can process, refine, and produce battery related minerals and metals. As part of the vertical integration strategy Elcora has developed a cost-effective process to purify high-quality battery metals and minerals that are commercially scalable. This combination means that Elcora has the tools and resources for vertical integration of the battery minerals and metals industry.
For further information please visit the company's website at:
For further information please contact: Troy Grant, Director, President & CEO, Elcora Advanced Materials Corp., T: +1 902 802-8847
Qualifying Statements: Klaus Leiders P. Eng., a qualified person as defined by National Instrument 43-101, approves the technical information contained in this news release.
CAUTIONARY STATEMENT:
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock Exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
This News Release includes certain “forward-looking statements”. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Elcora, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Elcora’s expectations are exploration risks detailed herein and from time to time in the filings made by Elcora with securities regulators.
Investors are cautioned that, except as disclosed in the filing statement prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon.
