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Euro Manganese begins board restructure as next phase of Chvaletice Manganese Project development progresses

Resignations from Dr Roman Shklanka, Harvey N McLeod, Daniel Rosicky and Jan Votava have been accepted but all will continue to play a role in the company's progress.

Euro Manganese Inc - Euro Manganese begins board restructure marking next phase of Chvaletice Manganese Project development
Euro Manganese is focused on development of its flagship Chvaletice Manganese Project in the Czech Republic

Euro Manganese Inc (ASX:EMN) (CVE:EMN) has started a restructure of its board of directors as it sets the stage for the next phase of corporate development, which focuses on preparing the Chvaletice Manganese Project in the Czech Republic for commercial development and financing.

Effective today, the company has accepted the resignations from directors Dr Roman Shklanka, Harvey N McLeod, Daniel Rosicky and Jan Votava.

Shklanka and McLeod will remain as part of a newly formed strategic advisory committee, reporting directly to the board, while Votava remains a key member of the executive team as managing director of Mangan Chvaletice s.r.o., the company’s Czech subsidiary.

Rosicky is a senior partner in leading Czech law firm, PRK Partners, and will continue as a valued legal and strategic adviser to EMN and Mangan.

Contributions “cannot be overstated”

Interim chairman John Webster said: “The importance of the contributions to the company by Roman, Harvey and Daniel over the last five years cannot be overstated and, accordingly, we owe them a debt of gratitude.

“However, the company is fortunate that we will still be able to count on them for their vast experience on technical, legal and strategic matters in their new roles.”

Search for independent directors

The company's search for two new independent directors is well underway and several well-credentialed, experienced candidates have been identified.

Progressing Chvaletice to commercial development and financing is subject to the completion of a positive feasibility study and to making a final investment decision.

The project will recycle historic mine tailings that host Europe's largest manganese deposit and result in an environmental remediation of this site.

As the European Union emerges as a major electric vehicle manufacturing hub, EMN's goal is to become the preferred supplier of sustainably-produced ultra-high-purity manganese products for the lithium-ion battery industry and for producers of specialty steel, high-technology chemicals and aluminium alloys.

Quick facts: Euro Manganese Inc

Price: 0.135 AUD

ASX:EMN
Market: ASX
Market Cap: $29.72 m
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