Canada-listed junior miner Giyani will seek to raise between $280m and $300m ( over P3 billion) for its manganese project at K. Hill in Kanye Botswana, the company President and CEO David Keating said recently .
Mr. Keating mentioned that Giyani plans to explore a blend of debt and equity options throughout the year 2024.
A feasibility study released late last year revealed robust returns for the K Hill Project, showing low capital intensity for what will be one of the largest HPMSM projects in the world: estimated initial capital expenditure of US$281M (C$379M), (just over P3.6 billion) including contingency of US$32M (C$43M), for a fully integrated battery raw materials project
Strong free cash flow with net free cash flow over the life of the project, estimated at US$1,093M, (over P14 billion) (C$1,476M), equivalent to US$99M (C$134M) per year with first commercial production in 2025.
The feasibility study has also shown significant geological upside offers potential to expand the project and extend mine life: exploration work to upgrade the 3.1 Mt of Inferred Resources in the K.Hill southerly extension is progressing, and the addition of these resources and the Otse prospect provides the potential to expand the Project in future years and extend the mine life significantly.
