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About Electric Metals USA Ltd (EMUSF)
Electric Metals USA Ltd (TSXV:EML, OTCQB:EMUSF) is a U.S.-based mineral development company specializing in the exploration and development of critical mineral resources essential for the clean energy transition. The company's flagship project, the Emily Manganese Project, is located in Minnesota and is recognized as the highest-grade manganese deposit in North America. With manganese being a crucial component in lithium-ion battery formulations and the broader energy storage sector, Electric Metals USA Ltd is strategically positioned to address the growing demand for high-purity manganese products in North America.
The Emily Manganese Project
The Emily Manganese Project is the cornerstone of Electric Metals' operations. Situated in the Cuyuna Iron Range of Minnesota, this project has undergone extensive geological and metallurgical studies, including the preparation of National Instrument 43-101 Technical Reports. The deposit is characterized by its high manganese grades, with recent resource estimates confirming significant tonnage and exceptional purity levels. The company has invested heavily in drilling programs, metallurgical testing, and resource modeling to advance the project toward production. The Emily Project aims to produce high-purity manganese sulfate monohydrate (HPMSM), electrolytic manganese metal (EMM), and other chemical-grade manganese products, which are vital for electric vehicle (EV) batteries, renewable energy storage systems, and other advanced technologies.
Market Relevance and Strategic Importance
Manganese is a critical mineral with no active mines or domestic supply in North America, making Electric Metals' Emily Project a significant opportunity for the U.S. to reduce its reliance on foreign imports, particularly from China. The company's focus on domestic production aligns with national priorities for energy independence, supply chain resilience, and the transition to sustainable energy systems. By developing a reliable source of high-purity manganese, Electric Metals is poised to support the North American EV market, which is experiencing rapid growth driven by climate goals and increasing consumer adoption.
Technical Expertise and Operational Approach
Electric Metals USA Ltd demonstrates a commitment to technical excellence and sustainability. Collaborations with industry leaders such as Forte Dynamics and Kemetco Research have enabled the company to optimize mining methods, metallurgical processes, and resource recoveries. Recent metallurgical tests have achieved manganese extraction rates exceeding 95%, highlighting the project's viability. The company employs advanced techniques such as underhand cut-and-fill mining to maximize resource recovery while minimizing environmental impact. These efforts underscore Electric Metals' dedication to responsible resource development and operational efficiency.
Conclusion
Electric Metals USA Ltd is at the forefront of addressing a critical supply chain gap for high-purity manganese in North America. Through its flagship Emily Manganese Project, the company is advancing the domestic production of essential materials for EV batteries and clean energy technologies. With a strong focus on technical innovation, sustainability, and alignment with national priorities, Electric Metals USA Ltd represents a pivotal player in the clean energy transition.
Electric Metals USA (EMUSF) has announced positive interim results from its Preliminary Economic Assessment (PEA) for the Emily Manganese Project in Minnesota. The study, conducted by Forte Dynamics, reveals promising mining efficiency metrics:
The selected underhand cut-and-fill underground mining method is expected to achieve:
- 88% extraction of estimated resources
- 89% recovery of contained manganese
The Emily Project is confirmed as North America's highest-grade manganese resource. The mining approach was chosen based on geotechnical testing by RESPEC Engineering, offering advantages in selective mining, high ore extraction, low ore dilution, and the ability to reuse waste rock as backfill. The PEA completion is expected in Q2 2025, followed by a Pre-Feasibility Study focusing on developing a processing facility for battery-grade high-purity manganese sulfate monohydrate (HPMSM).
Electric Metals (USA) (TSXV:EML)(OTCQB:EMUSF) has completed the final closing of its non-brokered private placement, issuing 5,837,000 common shares at $0.10 per share, raising gross proceeds of C$583,700. No finder's fees were paid for this offering.
Notably, company directors subscribed for 3,737,000 shares, representing C$373,700 of the total placement. This insider participation constitutes a 'related party transaction' under Regulation 61-101, but qualified for exemptions from formal valuation and minority approval requirements as the transaction value was below 25% of the company's market capitalization.
Electric Metals USA (OTCQB:EMUSF) has initiated a Preliminary Economic Assessment (PEA) for its Emily Manganese Project in Minnesota, conducted by Forte Dynamics. The PEA, scheduled for completion in Q2 2025, will evaluate the project's technical and economic viability, including production potential, mining methods, and infrastructure requirements.
The project, recognized as North America's highest-grade manganese deposit, aims to establish a domestic supply of high-purity manganese for U.S. national security and energy infrastructure. Recent progress includes completed comprehensive data review, gap analysis, and accelerated technical studies.
Key milestones include advanced geological analysis, technical assessments of underground mining methods, processing flowsheet development, and infrastructure planning. The PEA will provide important financial metrics including NPV, IRR, and payback period, while incorporating environmental stewardship and sustainability considerations throughout the development process.
Electric Metals (USA) (TSXV:EML)(OTCQB:EMUSF) has announced a 30-day extension for closing the second and final tranche of its non-brokered private placement. The offering aims to issue up to 10,000,000 common shares at CAD$0.10 per share, targeting maximum gross proceeds of CAD$1,000,000.
The company previously closed the first tranche on December 13, 2024, issuing 5,837,000 common shares at $0.10 per share, raising gross proceeds of C$583,700. The final closing and TSX Venture Exchange documentation acceptance is expected by February 12th, 2025.
Electric Metals (USA) (TSXV:EML)(OTCQB:EMUSF) has completed the first tranche of its non-brokered private placement, raising C$583,700 through the issuance of 5,837,000 common shares at $0.10 per share. The company has received a 30-day extension from the TSXV to close a second tranche, extending the deadline from December 13, 2024, to January 13, 2025.
Company directors subscribed for 3,737,000 shares totaling C$373,700, constituting a related party transaction. This insider participation fell below 25% of the 's market capitalization, qualifying for exemptions from formal valuation and minority approval requirements under Regulation 61-101.
Electric Metals (USA) (TSXV:EML)(OTCQB:EMUSF) announces a non-brokered private placement offering of up to 10,000,000 common shares at CAD$0.10 per share, aiming to raise maximum gross proceeds of CAD$1,000,000. The proceeds will fund the Emily Manganese Project initiatives, including a mine scoping study, HPMSM plant studies, environmental baseline work, and working capital. The offering is expected to close around November 29, 2024, subject to TSXV approval. Company insiders may participate in the offering, which would constitute a related party transaction under MI 61-101.
Electric Metals (EMUSF) has announced a new equity compensation grant, issuing 793,376 deferred share units (DSUs) to non-management directors and 200,000 incentive stock options to an officer. The DSUs were granted at C$0.11 per unit, while the stock options have an exercise price of C$0.25. Half of the options will vest on June 19, 2025, with the remainder subject to performance metrics. Both grants align with the Company's Omnibus Incentive Plan approved by shareholders on June 26, 2024.
Electric Metals (USA) has announced a stock option grant under its Omnibus Equity Incentive Plan. The company granted 7.5 million stock options to directors and officers, structured as follows: 1 million options vesting on February 1, 2025 at C$0.25 exercise price; 6 million options vesting based on performance metrics at C$0.25 exercise price; and 500,000 options vesting immediately at C$0.35 exercise price. All options have a five-year expiration term from the grant date.
Electric Metals (USA) (TSXV:EML)(OTCQB:EMUSF) has announced successful metallurgical testing results from the Emily manganese deposit in Minnesota. Kemetco Research Inc. conducted the testing, demonstrating the ability to produce high-purity manganese sulfate monohydrate (HPMSM) from samples recovered during the 2023 drill program. Key highlights include:
- Manganese extraction rates exceeding 95% using sulfuric acid leaching
- Effective impurity removal and crystallization yielding HPMSM meeting international standards
- Potential for producing a full suite of manganese products, including EMM and EMD
- Strong foundation for future development of a full-scale processing plant
The Emily deposit is the highest-grade manganese deposit in North America. This development is important as the U.S. and Canada currently rely on imports for high-purity manganese chemicals, with China producing 96% of global HPMSM.
Electric Metals (USA) (TSXV:EML)(OTCQB:EMUSF) has announced changes to its Board of Directors. Megan McElwain and John Kutkevicius have resigned from the board. The company has appointed Michèle McCarthy and Sylvia Chen as independent directors.
McCarthy, President of McCarthy Law Professional and Independent Review Inc., brings experience in corporate restructuring and regulatory compliance. Chen, Vice President of Finance at Dundee Precious Metals, offers expertise in finance across various sectors, including mining.
Additionally, Dr. Quinton Hennigh has been elected chairman of the board. CEO Brian Savage expressed gratitude to the departing members and welcomed the new directors, highlighting their valuable expertise for advancing the company's strategic objectives.
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