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TLO 5.37 +5.7% BNKR 4.88 +1.7% GG 2.25 +3.2% MJS 0.100 +5.3% PAAS 62.54 +3.6% PE 0.230 +0.0% SGML 17.19 +4.8% LAR 10.34 −1.1% NED 0.025 +0.0% GEN 0.080 +0.0% TVI 0.060 +0.0% SKYG 0.025 −37.5% WRLG 0.660 +6.5% FFU 0.120 −7.7% LOD 0.310 +3.3% CBI 0.110 +0.0% TLO 5.37 +5.7% BNKR 4.88 +1.7% GG 2.25 +3.2% MJS 0.100 +5.3% PAAS 62.54 +3.6% PE 0.230 +0.0% SGML 17.19 +4.8% LAR 10.34 −1.1% NED 0.025 +0.0% GEN 0.080 +0.0% TVI 0.060 +0.0% SKYG 0.025 −37.5% WRLG 0.660 +6.5% FFU 0.120 −7.7% LOD 0.310 +3.3% CBI 0.110 +0.0%
Production / Operations Routine +

Manganese X Energy Advances to Final Phase of C4V Battery Qualification Program Following Initial Performance Validation

Manganese X advances to the final battery qualification phase for its Manganese X project, though capital needs and pre-revenue status remain key risks.

By The Northwire Desk — AI Analysis Jun 16, 2026 · 00:16 MN · 0.11 Manganese X Energy Corp.
Executive Summary
  • Manganese X Energy Corp. announced that its high-purity manganese material from the Battery Hill project has advanced to Phase 3 (Multi-Layer Full Pouch Cell Evaluation) of Charge CCCV LLC's (C4V) battery qualification program.
  • The material successfully met initial rigid specifications and performance requirements for Phase 3, which is expected to take approximately six months to complete.
  • Previous Phase 2 testing demonstrated 70% capacity retention after 4,600 cycles, outperforming conventional NMC chemistries and comparing favorably with LFP and LMFP benchmarks.
  • Advancement positions the company closer to a strategic partnership with C4V and may facilitate future commercial discussions, including potential offtake agreements.
  • The Battery Hill project remains in the prefeasibility stage, located near Woodstock, New Brunswick, Canada.
Material Impact
  • The June 16, 2026 release represents an expected, incremental step following the Phase 2 battery test results announced on September 9, 2025. Advancement to the final qualification phase was a logical progression given the strong Phase 2 metrics.
  • While technically positive, the news does not alter the company's immediate financial outlook or timeline to commercialization. The company remains pre-revenue and pre-production, with the Pre-Feasibility Study (PFS) targeted for completion in Q4 2026.
  • The announcement reinforces the technical viability of the Battery Hill material but does not provide binding offtake commitments or revenue visibility. Market reaction is likely to be muted as this is a routine milestone in a multi-year qualification process.
  • Prior-period context from the investor presentation indicates a PEA NPV of $486 million and IRR of 25%, but these are based on assumed HPMSM prices of $2,900/tonne and have not been validated by a full feasibility study or binding contracts.
MN · Price
Company Overview
  • Manganese X Energy Corp. is focused on commercializing high-purity EV-compliant manganese from the Battery Hill project in New Brunswick, Canada.
  • The project is one of North America's largest manganese carbonate deposits, located 12 km from the U.S. border with access to road, rail, and deep-water ports.
  • The company aims to produce High-Purity Manganese Sulphate Monohydrate (HPMSM) for EV battery cathodes (LMFP and LMR chemistries) and stationary energy storage.
  • A Preliminary Economic Assessment (PEA) projects a 47-year mine life, $486 million NPV (10% discount), 25% IRR, $350 million CAPEX, and average annual revenue of $177 million.
  • Ore sorting pilot results in August 2025 showed an 80% increase in mill-feed grade, projecting lower CAPEX/OPEX and improved project economics.
  • The company holds proprietary purification patents granted in the U.S. and South Africa, with applications pending in Canada, Mexico, and Australia.
Read the original news release →

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