AE Fuels begins stage 3 testwork with CSIRO

Executive Summary

• Advanced Energy Fuels (Aust) Pty. Ltd. signed a Stage 3 research agreement with CSIRO to advance testwork for battery‑grade high‑purity manganese sulphate monohydrate (HPMSM) and potential electrolytic manganese metal (EMM) production.
• The program is co‑funded through CSIRO’s Kick‑Start initiative and builds on prior bench‑scale work, aiming to deliver a prefeasibility study by mid‑2027.
• AEF has recently exercised its option to acquire the South Woodie Woodie manganese project from Trek Metals (Jan 13 2026) and is progressing a staged development pathway toward first production of HPMSM.

Key Details

• Research Agreement: Stage 3 agreement with CSIRO to conduct continuous solvent extraction (SX) testwork, validate purification performance, and produce HPMSM meeting commercial specifications.
• Funding: Co‑funded by CSIRO’s Kick‑Start program; no cash terms disclosed.
• Project Scope: Testwork targets scalable purification of battery‑grade HPMSM with optional downstream EMM capability.
• Acquisition: AEF exercised its option to acquire the South Woodie Woodie project from Trek Metals on 13 Jan 2026, securing full control of the deposit in Western Australia’s Pilbara region.
• Development Timeline:
• 2024 – Initial work programs commenced.
• 2025 – Partnership with CSIRO for testwork; synthetic feed solutions validated conceptual flowsheet.
• Mid‑2027 – Target date to complete a prefeasibility study (PFS).
• Technical Progress:
• Beneficiation studies completed to support concentrate production assumptions.
• Reduction and leaching testwork underway to improve upstream performance.
• CSIRO purification programs providing foundation for pilot‑scale work.
• Internal mine planning review finalized, outlining potential mining scenarios.
• Processing Pathway: Indicative flowsheet developed from run‑of‑mine material through beneficiation, hydrometallurgical processing, and final SX extraction to produce HPMSM; EMM remains a downstream option pending further evaluation.
• Qualified Person: John Levings, BSc, FAusIMM (Technical Director, AE Fuels) signed off on the scientific and technical information per NI 43‑101.

Notable Quotes

“This program reflects our collective desire to make smart decisions based on quality data to accelerate progress and reduce risk… AEF is executing in disciplined stages, validating each step and derisking before committing major capital whilst simultaneously securing commercial and government support.” – Gary Lewis, CEO & Director, AE Fuels Corp.