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An announcement from Electric Metals ( (TSE:EML) ) is now available.
Electric Metals (USA) Limited has successfully closed a $1.1 million non-brokered private placement to advance its Emily Manganese Project in Minnesota. This financing will bolster the company’s efforts to establish a critical domestic supply of high-purity manganese products for the U.S. electric vehicle battery sector. The funds will be used for a preliminary economic assessment, technical and environmental studies, and the development of a high-purity manganese sulfate monohydrate facility. This strategic move positions Electric Metals to significantly impact the U.S. market by addressing the lack of domestic manganese supply, benefiting both the state of Minnesota and the company’s stakeholders.
More about Electric Metals
Electric Metals (USA) Limited is a US-based mineral development company focused on manganese and silver projects to support the transition to clean energy. The company’s principal asset is the Emily Manganese Project in Minnesota, known as 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 for the North American electric vehicle battery, technology, and industrial markets.
Average Trading Volume: 103,437
Technical Sentiment Signal: Buy
Current Market Cap: C$21.42M
For an in-depth examination of EML stock, go to TipRanks’ Stock Analysis page.