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Nevada Silver ( (TSE:EML) ) has issued an update.
Electric Metals (USA) Limited announced a non-brokered private placement offering of up to 25,000,000 units at CAN$0.12 per unit, aiming to raise up to CAN$3,000,000. The proceeds will be used to advance the Emily Manganese Project, including a preliminary economic assessment, studies for an HPMSM plant, and environmental work. This initiative is significant as it supports the company’s goal of becoming a key domestic supplier of manganese for the electric vehicle and technology sectors, addressing the current lack of domestic manganese supply in North America.
More about Nevada Silver
Electric Metals (USA) Limited is a US-based mineral development company focused on manganese and silver projects that support the transition to clean energy. The company’s principal asset is the Emily Manganese Project in Minnesota, which is the highest-grade manganese deposit in North America. Their mission is to become a domestic US producer of high-value, high-purity manganese metal and chemical products, catering to the North American electric vehicle battery, technology, and industrial markets.
YTD Price Performance: 64.29%
Average Trading Volume: 111,345
Technical Sentiment Signal: Sell
Current Market Cap: C$16.64M
See more insights into EML stock on TipRanks’ Stock Analysis page.