Manganese X Energy Announces PEA Explains Positive Results & How Manganese X Leadership Remains Bullish - Seite 3

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Manganese X to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. The PEA results are estimates only and are based on a number of assumptions, any of which, if incorrect, could materially change the projected outcome. There are no assurances that the Project will be placed into production. Factors that could affect the outcome include, among others: the actual results of development activities; project delays; inability to raise the funds necessary to complete development; general business, economic, competitive, political and social uncertainties; future prices of HPMSM or project costs could differ substantially and make any commercialization uneconomic; availability of alternative manganese sources or substitutes; actual manganese recovery; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; accidents, labour disputes, the availability and productivity of skilled labour and other risks of the mining industry; political instability, terrorism, insurrection or war; delays in obtaining governmental approvals, necessary permitting or in the completion of development or construction activities; Mineral Resource estimates relating to the Project could prove to be inaccurate for any reason whatsoever; additional but currently unforeseen work may be required to advance to the feasibility stage; even if the Project goes into production, there is no assurance that operations will be profitable; and risks related to the interpretation of the gross metal royalty ("GMR") set forth in the Company's option agreement dated April 22 2016 with Globex Mining Enterprises Inc. (the "Option Agreement", including with respect to: (i) the brevity and potential challenges the Company and other parties may face in regard to interpreting the terms of the GMR; (ii) determination of the reference prices that are to be used to value the metals and products that are produced from the Project; and (iii) the stage of production in the processing and value chain of deliverable metals within a production facility whereby the GMR becomes payable, all of which could have a significant impact on the determination of the GMR payable by the Company. The Option Agreement has not been the subject of any litigation to date and accordingly no findings or decisions have been made by any court or arbitrator regarding the specific interpretation of the Option Agreement.