Black Canyon's advancements in Pilbara manganese projects

Black Canyon (ASX:BCA) has unveiled its September Quarter Activities Report for 2024, highlighting substantial progress in its manganese projects in Western Australia's Pilbara region. Key highlights include a positive Scoping Study for the KR1 and KR2 deposits, projecting a pre-tax NPV of A$340 million and an IRR of 70%. The company also announced a high-grade manganese discovery at the Wandanya Project and successful fundraising efforts to support ongoing exploration.

Black Canyon's strategic outlook and future activities

Black Canyon Limited is making noteworthy strides in its manganese exploration and development projects in the Pilbara region. The recent Scoping Study predicts robust financial returns, which signals a promising future for the KR1 and KR2 deposits. The discovery of high-grade manganese at Wandanya enhances the company's resource base, aligning with its strategy to expand its footprint in the manganese market. The successful capital raise ensures that Black Canyon is well-positioned to continue its exploration and development activities. Looking ahead, the company plans further testwork and exploration at its key sites and is evaluating potential locations for an HPMSM facility in Australia, underscoring its commitment to becoming a significant player in the manganese industry.

Executive insights on Black Canyon's strategic initiatives

The results of the Scoping Study validate the significant potential of our KR1 and KR2 deposits. The discovery at Wandanya further strengthens our position in the manganese sector. Our focus remains on advancing our projects to deliver long-term value for our shareholders.