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Nevada Silver ( (TSE:EML) ) has issued an announcement.
Electric Metals (USA) Limited has announced a 30-day extension to complete the second and final tranche of its non-brokered private placement, intending to issue up to 10 million common shares at CAD$0.10 per share to raise a maximum of CAD$1,000,000. The first tranche was closed in December 2024, generating C$583,700. The extension reflects the company’s strategy to secure additional capital to advance its projects, notably the Emily Manganese Project, which is pivotal due to the absence of domestic manganese supply in North America. This move could significantly enhance the company’s position in the clean energy market and benefit stakeholders, including shareholders and the state of Minnesota.
More about Nevada Silver
Electric Metals (USA) Limited is a US-based mineral development company focusing on manganese and silver projects that support the transition to clean energy. Its principal asset is the Emily Manganese Project in Minnesota, known for being the highest-grade manganese deposit in North America. The company aims to produce high-value, high-purity manganese metal and chemical products domestically to serve the North American electric vehicle battery, technology, and industrial markets.
YTD Price Performance: -7.14%
Average Trading Volume: 104,345
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$9.41M
For a thorough assessment of EML stock, go to TipRanks’ Stock Analysis page.
