Archangel Diamond declared outstanding financial statements

Archangel Diamond Corporation announced that it has now filed its annual financial statements, accompanying MD&A and related CEO and CFO certifications for the financial year ended December 31, 2008 and its interim financial statements, accompanying MD&A and related CEO and CFO certifications for first quarter interim financial statements for the period ended March 31, 2009 with applicable regulators in jurisdiction in which the Corporation is a reporting issuer.

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M. Montgomery

In my statement that batteries will “provide a much needed new market,” It means that manganese is tied in to the steel market, just as with many base metals used in alloys, like molybdenum. Therefore the manganese market is dependent and price is tied to the whims of the steel market almost entirely.

Diversification is a good thing, by increasing market size, and demand, the rising price of manganese should lead to inflows of investments in mining companies such as American Manganese and others, increasing supply to meet the new demand. At least according to economic fundamentals. These projects do take time to catch up and reach homeostasis.

For example, as China’s economy slows, and steel demand for large infrastructure projects decrease, manganese will decrease as well. However, if manganese takes off as a battery material in consumer good that will still be in high demand regardless of large infrastructure projects, the demand for manganese will remain high, therefore mitigating the impact of slowing steel production.

Does this help clarify?

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