Giyani Boosts Kanye Manganese Project Funding

Giyani Metals Corp, the developer of the K.Hill Battery-Grade Manganese Project in Kanye, Botswana, has entered into an addendum to its existing convertible loan facility agreements with the Industrial Development Corporation of South Africa increasing available funding and adjusting project timelines. Following the amendment, the total loan facility amount has risen to ZAR264,275,000, while the maximum combined loan facility under IDC agreements now stands at ZAR329,900,000. According to the company, the additional funding enabled continued operation of its Demonstration Plant in Johannesburg, South Africa.

This has resulted in the production of high purity manganese sulphate monohydrate (HPMSM), which is being prepared for analysis by potential offtakers. “The continued operation of the Demonstration Plant has confirmed demonstration plant scale reagent consumptions and at a large scale, has contributed to our operating knowledge of the crystallizers and purge management,” the company said in a statement. The company added that the data collected from these operations will be incorporated into its definitive feasibility study (DFS) for the K.Hill project.

As a result of the extended plant operations and additional data collection, the DFS is now expected to be completed during the second quarter of 2026. The Demonstration Plant Completion Deadline Date has also been extended to June 30, 2026, although the company indicated it does not intend to recommence plant operations. Under the revised terms, Giyani has provided not less than ZAR40,000,000 in funding to its subsidiaries to support completion of the DFS.

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The addendum also grants additional security over certain project assets and information in favour of the IDC. In addition, subject to applicable securities laws and stock exchange approvals, the IDC may nominate one director to the board of Giyani if it holds more than 10 percent of the company’s issued and outstanding common shares following any loan conversion. The addendum remains subject to final acceptance from the TSX Venture Exchange.

Nigel Robinson, interim executive chair of the company, said the additional operational work had contributed to the revised timeline. “We would like to thank the IDC for being such a supportive partner of Giyani,” he said. “We look forward to announcing these results to the market as soon as they become available which will enable Giyani to ramp up towards securing offtake agreements and advance project financing discussions,” he added.

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