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Euro Manganese has the right stuff, the right spot, at the right time: Canaccord Genuity

Euro Manganese Inc (ASX:EMN) (CVE:EMN) has received a price target upgrade from Canaccord Genuity as it focuses on advancing the evaluation and development of the Chvaletice Manganese Project in the Czech Republic.

The project entails re-processing a significant manganese deposit hosted in historical mine tailings, strategically located in the heart of Europe, about 90 kilometres east of Prague.

Canaccord Genuity, the capital markets division of Canaccord Genuity Group Inc (TSE:CF), has upgraded its price target for Euro Manganese to 55 cents from 50 cents while maintaining a speculative buy rating.

The following is an extract from Canaccord’s research update:

More manganese please
Manganese offers niche market opportunity[hhmc]
Following Tesla's battery day we continue to digest the presentation, and while the conversation has largely focussed on lithium, we believe it is worth reflecting on other materials that will be required to deliver the company's ambitions. The ca..

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Euro Manganese Inc (ASX:EMN) (CVE:EMN) has received a price target upgrade from Canaccord Genuity as it focuses on advancing the evaluation and development of the Chvaletice Manganese Project in the Czech Republic.

The project entails re-processing a significant manganese deposit hosted in historical mine tailings, strategically located in the heart of Europe, about 90 kilometres east of Prague.

Canaccord Genuity, the capital markets division of Canaccord Genuity Group Inc (TSE:CF), has upgraded its price target for Euro Manganese to 55 cents from 50 cents while maintaining a speculative buy rating.

The following is an extract from Canaccord’s research update:

More manganese please

Manganese offers niche market opportunity

Following Tesla's battery day we continue to digest the presentation, and while the conversation has largely focussed on lithium, we believe it is worth reflecting on other materials that will be required to deliver the company's ambitions. The cathode presentation highlights three chemistries and claims to be moving towards a two-thirds nickel, one-third manganese chemistry for its long range vehicles. We highlight EMN, which is developing the Chvaletice Manganese project in the Czech Republic, and what differentiates it in the manganese and LiB supply chains.

Manganese market snapshot

The global manganese market is dominated by demand from the steelmaking industry which accounts for 90% of demand, the remaining 10% (c.2mtpa) being consumed in specialty metal markets. Of the 2Mtpa, c.400ktpa is used in disposable alkaline batteries with only c.50kt used in LiB). Like the lithium market, there are strict quality requirements to produce High Purity Electrolytic Manganese Metal (HPEMM) and High Purity Manganese Sulphate Monohydrate (HPMSM), resulting in a price premium and a barrier to entry.

Look to Europe for the next leg of LiB growth

As we recently highlighted, Europe has become a focus for the EV market, with the EU on track to sell more EVs than China by the end of the year. In 2017, the EU established the European Battery Alliance (EBA) to address what it saw as an Asia-controlled supply chain. Since then, battery investments in Europe have lifted to c.€100b, a thirty-fold increase. Following the success of the EBA, in late September this year the EU launched the European Raw Materials Alliance which places a strong emphasis on electric vehicles/clean tech, ESG practices in material sourcing and supporting Europe's industrial raw material capability. We expect European-focussed producers will benefit from access to cheap debt and preferential selection with OEMs for off-take and partnerships.

Chvaletice the right stuff, the right spot, the right time

EMN's Chvaletice mRead More – Source

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Australia

Covid: Brisbane to enter three-day lockdown over single infection

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The Australian city of Brisbane has begun a snap three-day lockdown after a cleaner in its hotel quarantine system became infected with coronavirus.

Health officials said the cleaner had the highly transmissible UK variant and they were afraid it could spread.

Brisbane has seen very few cases of the virus beyond quarantined travellers since Australia’s first wave last year.

It is the first known instance of this variant entering the Australian community outside of hotel quarantine.

The lockdown is for five populous council areas in Queensland’s state capital.

Premier Annastacia Palaszczuk announced the measure on Friday morning local time, about 16 hours after the woman tested positive.

Ms Palaszczuk said the lockdown aimed to halt the virus as rapidly as possible, adding: “Doing three days now could avoid doing 30 days in the future.”

“I think everybody in Queensland… knows what we are seeing in the UK and other places around the world is high rates of infection from this particular strain,” she said.

“And we do not want to see that happening here in our great state.”

Australia has reported 28,500 coronavirus infections and 909 deaths since the pandemic began. By contrast, the US, which is the hardest-hit country, has recorded more than 21 million infections while nearly 362,000 people have died of the disease.The lockdown will begin at 18:00 on Friday (08:00 GMT) in the Brisbane city, Logan and the Ipswich, Moreton and Redlands local government areas.

Residents will only be allowed to leave home for certain reasons, such as buying essential items and seeking medical care.

For the first time, residents in those areas will also be required to wear masks outside of their homes.

Australia has faced sporadic outbreaks over the past year, with the most severe one in Melbourne triggering a lockdown for almost four months.

A pre-Christmas outbreak in Sydney caused fresh alarm, but aggressive testing and contact-tracing has kept infection numbers low. The city recorded four local cases on Friday.

Prime Minister Scott Morrison’s government has pledged to start mass vaccinations in February instead of March as was planned.

Lockdown interrupts ‘near normal’ life in Brisbane

Simon Atkinson, BBC News in Brisbane

At 8:00 today I popped to the local supermarket for some bread, milk – and because it’s summer here – a mango. I was pretty much the only customer.

When I went past the same shop a couple of hours later it was a different story – 50 people standing in the drizzle – queuing to get inside as others emerged with bulging shopping bags. “Heaps busier than Christmas,” a cheery trolley attendant told me. “It’s off the scale”.

Despite the “don’t panic” messages from authorities, pictures on social media show it’s a pattern being repeated across the city.

While shutdowns are common around the world, the tough and sudden stay-at-home order for Brisbane has caught people on the hop here after months of near normality.

But while such a rapid, hard lockdown off the back of just a single case of Covid-19 will seem crazy in some parts of the world, I’ve not come across too many people complaining.

And I don’t think that’s just because Aussies love to follow a rule. This is the first time the UK variant of the virus has been detected in the community in Australia.

And nobody here wants Brisbane to go through what Melbourne suffered last year. Even if it means going without mangoes.

Read from source: https://www.bbc.com/news/world-australia-55582836

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Australia

Australia v India: Five touring players in isolation after restaurant visit

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Five India players are isolating as a precaution after a video on social media showed them eating indoors at a Melbourne restaurant.

Rohit Sharma, Rishabh Pant, Shubman Gill, Prithvi Shaw and Navdeep Saini – all part of India’s Test squad to play Australia – will be isolated from other players but are still able to train.

Both teams are investigating to determine whether bio-secure protocols for the tour have been breached.

The third Test begins on 6 January.

The tour is being played with restrictions to help prevent the spread of coronavirus.

While in Melbourne, where the recent second Test was played, players and staff are allowed to leave their hotel but if they attend a restaurant they must remain outdoors.

An India supporter posted a video on social media of the five players eating indoors at a restaurant on New Year’s Day.

“The BCCI [Board of Control for Cricket in India] and CA [Cricket Australia] are investigating the matter and seeking to determine whether the outing constitutes a breach of biosecurity protocols,” a Cricket Australia statement said.

“In the interim, on the advice of the Australian and Indian medical teams, the aforementioned players have been placed in isolation as a precaution.

“This will include separating the group of players from the broader Indian and Australian squads when traveling and at the training venue.”

On Monday the teams are due to travel from Melbourne to Sydney for the third Test which will be played at the Sydney Cricket Ground.

No details were given on whether the five players would be able to play in Sydney.

Pant and Gill both played in the second Test, which India won to level the four-Test series, while vice-captain Rohit was expected to play in the third, having recently quarantined for 14 days to join the squad late after injury.

Read from source: https://www.bbc.com/sport/cricket/55514593

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Australia

Covid: Sydney announces new restrictions ahead of New Year

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Australia has announced new restrictions for Sydney ahead of New Year’s Eve celebrations.

The city is battling a worsening outbreak after months of next to no local cases. Officials reported it had grown to 147 cases on Wednesday.

The news comes amid anger over footage of young revellers seen on Sydney’s Bronte Beach on Christmas Day.

Immigration minister Alex Hawke said tourists caught flouting public health restrictions could be deported.

The virus’s re-appearance in Sydney a week before Christmas sparked a swift re-introduction of restrictions in the city, including clampdowns on holiday gatherings and a lockdown of the worst-affected region, the Northern Beaches.

On Wednesday, the New South Wales (NSW) state government announced further restrictions for New Year’s Eve following the discovery of a new cluster in a separate part of the city – believed to have spread during Christmas gatherings.

“We don’t want New Year’s Eve to be the cause of a super-spreader [event],” said NSW Premier Gladys Berejiklian.

Households will now be restricted to only five guests from Thursday, down from the previous 10-person limit. Outdoor gathering numbers have also been cut to 30 from 50.

Every other state and territory in Australia maintains a travel ban on people from Sydney.

Sydney’s traditional New Year’s Eve fireworks celebrations will still go ahead but authorities have already banned group gatherings at vantage points around the harbour.

Australia has recorded 909 deaths and about 28,300 cases since the pandemic began – a number far lower than many other rich nations.

 

Read from source: https://www.bbc.com/news/world-australia-55481851

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