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Electric Metals ( (TSE:EML) ) just unveiled an update.
Electric Metals (USA) Limited has successfully closed a C$3.0 million non-brokered private placement led by Eric Sprott and Crescat Capital, aimed at advancing its Emily Manganese Project in Minnesota. This financing will bolster the company’s efforts to establish a secure U.S. supply of high-purity manganese products, aligning with U.S. policy initiatives to strengthen domestic critical mineral supply chains. The involvement of prominent investors underscores confidence in the company’s growth prospects and its strategic positioning to reduce reliance on foreign manganese sources, thereby enhancing U.S. economic and energy security.
More about Electric Metals
Electric Metals (USA) Limited operates in the mining industry with a focus on developing high-purity manganese products, particularly high-purity manganese sulfate monohydrate (HPMSM), which is crucial for the electric vehicle battery sector. The company is advancing its Emily Manganese Project in Minnesota to support a domestic supply of these products in the U.S.
YTD Price Performance: 171.43%
Average Trading Volume: 122,816
Technical Sentiment Signal: Sell
Current Market Cap: C$27.5M
For a thorough assessment of EML stock, go to TipRanks’ Stock Analysis page.