Announcement • Nov 16
Canadian Manganese Company Inc. Announces Board Chair Changes Canadian Manganese Company Inc. announced that on July 4, 2024, the board of directors appointed John Allan as the Chair of the Board of Directors. John Kearney continues as a director. New Risk • Apr 02
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$4.9m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$4.9m free cash flow). Share price has been highly volatile over the past 3 months (51% average weekly change). Earnings have declined by 27% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$10.2m market cap, or US$7.52m). Announcement • Apr 02
Canadian Manganese Company Inc., Annual General Meeting, Jun 12, 2024 Canadian Manganese Company Inc., Annual General Meeting, Jun 12, 2024. Announcement • Oct 07
Canadian Manganese Company Inc. announced that it has received CAD 9.8 million in funding On October 6, 2023 Canadian Manganese Company Inc. completed a non-brokered private placement of $5,000,000 principal amount of senior secured convertible debentures. New Risk • Aug 16
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$2.6m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$2.6m free cash flow). Share price has been highly volatile over the past 3 months (33% average weekly change). Earnings have declined by 40% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$8.70m market cap, or US$6.45m). New Risk • Jun 20
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.1m (US$9.88m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 50% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$13.1m market cap, or US$9.88m). New Risk • Jun 14
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 50% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$17.4m market cap, or US$13.1m). Board Change • Nov 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director John Allan was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Aug 13
Canadian Manganese Company Provides the Final Drilling Results from the Recent Core Drilling Program Carried Out At Its Wholly Owned Plymouth Manganese-Iron Deposit (Plymouth Deposit), Located Near the Town of Woodstock, in New Brunswick, Canada Canadian Manganese Company Inc. provided the final drilling results from the recent core drilling program carried out at its wholly owned Plymouth manganese-iron deposit (Plymouth Deposit), located near the town of Woodstock, in New Brunswick, Canada. This deposit, the adjoining Hartford exploration area to the northeast, and Company exploration holdings to the southwest comprise the "Woodstock Project". All Plymouth Deposit holes reported above returned long mineralized intervals (94.7 m to 240m) that exceed the current average mineral resource grade of 10.1% Mn. Three of the holes (PL22-032, PL22-038 and PL22-040) include substantial sub-intervals (12 m to 23 m in length) of high-grade mineralization ranging between 14.09% Mn and 14.72% Mn. This grade distribution trend is consistent with results received for adjacent drill holes and increases confidence in the current Plymouth Deposit geological model. In late July of 2022, the Company completed an initial core drilling campaign to test historically documented manganese-iron mineralization in the Hartford area, located on Company holdings approximately 2.2 km northeast of the Plymouth Deposit. Mineralization at Hartford is hosted by the northeast extension of the same geological sequence that hosts the Plymouth Deposit. The drilling program consisted of 4 drill holes (approximately 1,186 m) completed along one section line. Recent Insider Transactions • Jul 07
Insider recently bought CA$549k worth of stock On the 30th of June, Peter Steele bought around 2m shares on-market at roughly CA$0.25 per share. In the last 3 months, there was an even bigger purchase from another insider worth CA$637k. Insiders have collectively bought CA$1.7m more in shares than they have sold in the last 12 months. Board Change • Jun 21
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director John Allan was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Recent Insider Transactions • May 18
Insider recently bought CA$83k worth of stock On the 12th of May, Jane Carolyn bought around 265k shares on-market at roughly CA$0.31 per share. In the last 3 months, they made an even bigger purchase worth CA$637k. Insiders have collectively bought CA$1.1m more in shares than they have sold in the last 12 months. Announcement • May 12
Canadian Manganese Company Inc. Announces Diamond Drilling Program At Its Wholly Owned Plymouth Manganese-Iron Deposit in New Brunswick Canadian Manganese Company Inc. announced diamond drilling program at its wholly owned Plymouth manganese-iron deposit (Plymouth Deposit) (the "Woodstock Project") in New Brunswick. The primary purpose of this program was to expand the existing geological database in support of an updated mineral resource estimate with the objective to upgrade much of the current Inferred mineral resource estimate to the Measured and Indicated categories.The initially proposed program was significantly expanded owing to further define resource expansion opportunities identified in the initial phase of the 2022 program. In total, the program was comprised of 25 drill holes (7,098m)with 1,820 core samples were collected for analysis. ALS Global ("ALS") provided sample preparation and analytical services for the program. Drill program field supervision, logging and sampling activities were carried out under supervision of Professional Geologists registered in the Province of New Brunswick and employed by Mercator Geological Services Limited of Dartmouth, Nova Scotia, Canada. Logging, sampling, and assaying procedures were as per the Company's QA/QC protocols whereby drill core was descriptively logged on site, aligned, marked for sampling and then split in half, longitudinally, using a diamond saw blade. Samples consist of half NQ-size diamond core (47.6 mm diameter core). One-half of the core is preserved in core boxes for future reference stored at the Company's secure core logging facility located in Woodstock, NB. Samples comprising the other half of the core were bagged, tagged, sealed, and shipped to ALS's preparation facility in Moncton, New Brunswick with analytical procedures subsequently completed at ALS's Vancouver, BC facility. X Ray Fluorescence (XRF) methods as described in ALS protocol ME-XRF265 were applied for analysis of manganese and iron contents and total sulphur levels were determined in accordance with ALS protocol S-IR08. Specific gravity determinations for selected core samples were carried out in accordance with ALS protocol OA-GRA086. The QAQC program applied to the 2021/2022 drill core samples included systematic insertion and analysis of Certified Reference Materials, blank samples and duplicate pulp splits at 1 in 20 frequency and quarter core duplicates plus coarse reject splits at 1 in 40 frequency. A third-party check sample program for pulp split samples is also included in the Company's QAQC program, with SGS Canada Ltd., providing analytical services. The scientific and technical information contained in this news release has been, reviewed and approved by Paul Moore, P. Geo. (NB), the Company's designated non-independent, Qualified Person within the context of Canadian Securities Administrators' National Instrument 43-101; Standards of Disclosure for Mineral Projects. Recent Insider Transactions • May 07
President recently bought CA$85k worth of stock On the 4th of May, Matthew Allas bought around 300k shares on-market at roughly CA$0.28 per share. In the last 3 months, there was an even bigger purchase from another insider worth CA$637k. This was Matthew's only on-market trade for the last 12 months. Recent Insider Transactions • Apr 27
Insider recently bought CA$184k worth of stock On the 21st of April, Jane Carolyn bought around 575k shares on-market at roughly CA$0.32 per share. In the last 3 months, they made an even bigger purchase worth CA$637k. Insiders have collectively bought CA$923k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Apr 24
Insider recently bought CA$184k worth of stock On the 21st of April, Jane Carolyn bought around 575k shares on-market at roughly CA$0.32 per share. In the last 3 months, they made an even bigger purchase worth CA$637k. Insiders have collectively bought CA$923k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Apr 09
Insider recently bought CA$94k worth of stock On the 5th of April, Jane Carolyn bought around 529k shares on-market at roughly CA$0.18 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$102k more in shares than they have sold in the last 12 months. Announcement • Apr 05
Canadian Manganese Company Inc., Annual General Meeting, Jun 15, 2022 Canadian Manganese Company Inc., Annual General Meeting, Jun 15, 2022. 