Electric Metals USA Ltd Stock Price, News & Analysis

Electric Metals (OTCQB:EMUSF) closed a non-brokered private placement on October 24, 2025, raising approximately C$4.0 million. The company issued 13,330,000 units at C$0.30 each; each unit includes one share and one-half warrant. Each whole warrant is exercisable for one share at C$0.45 for 18 months. Net proceeds will fund ore characterization, metallurgical test work, an HPMSM scoping study, environmental baseline studies, permitting for the Emily Mine, community outreach, and general corporate purposes.

Cornerstone investors Eric Sprott and Crescat Capital participated; Eric Sprott is now an insider holding ~11.4% on a partially diluted basis. Directors subscribed for 426,666 units (C$127,999.80), treated as a related party transaction with exemptions relied upon under Regulation 61-101.

Electric Metals (OTCQB:EMUSF) announced a non-brokered private placement on October 23, 2025 of up to 13,333,334 Units at CAN$0.30 per Unit to raise up to CAN$4.0 million. Each Unit includes one common share and one-half warrant; each whole warrant exercisable at CAN$0.45 for 18 months.

Proceeds are earmarked for ore characterization, metallurgical and process test work, an HPMSM scoping study, environmental baseline studies, permitting initiation for the Emily Mine, community outreach, North Star Project research, and general corporate purposes. Securities are not registered in the U.S.; insiders may participate as related parties.

Electric Metals (OTCQB:EMUSF) filed an NI 43-101 Preliminary Economic Assessment for the North Star Manganese Project with an effective date of Aug 15, 2025 and issue date Sep 30, 2025.

Key metrics: after-tax NPV(10%) US$1.39B, IRR 43.5%, and initial CapEx US$474.8M. The project combines an underground mine in Emily, Minnesota and a U.S. high-purity manganese sulfate monohydrate (HPMSM) plant. Indicated and Inferred resources underpin the mine plan. Metallurgical test work supports battery-grade HPMSM. Planned next steps include pre-feasibility, flowsheet optimization, drilling, siting, permitting, and environmental studies.

Electric Metals (TSXV:EML / OTCQB:EMUSF) announced it has completed a continuance from a Canada Business Corporations Act corporation into a corporation governed by the Business Corporations Act (British Columbia), effective following shareholder approval on September 4, 2025.

The company received conditional acceptance from the TSX Venture Exchange; final acceptance requires customary filings. The continuance does not change daily operations, authorized share capital, share rights, or trading on TSXV and OTCQB. Management says the move increases corporate-law flexibility and aligns with TSXV peer practices, and may enable a future continuance to Delaware subject to regulatory, tax and legal steps.

Electric Metals USA (OTCQB:EMUSF) has announced the grant of 310,845 Deferred Share Units (DSUs) to its non-executive Board members. The DSUs were issued on September 30, 2025, under the company's recently approved Omnibus Equity Incentive Plan. These units were granted as compensation for directors' fees for the quarter ending September 30, 2025.

Electric Metals USA (OTCQB:EMUSF) announced the successful completion of its annual and special shareholder meeting on September 4, 2025. Shareholders approved several key resolutions including fixing the board size at seven members, electing directors, appointing Baker Tilly WM, LLP as auditors, and reapproving the equity incentive plan.

Notably, shareholders approved a two-step corporate continuance plan: first from Canada to British Columbia, and subsequently to Delaware, subject to completion of the BC continuance. CEO Brian Savage emphasized that this restructuring aligns with the company's mission to develop a domestic U.S. supply of high-purity manganese products through their North Star Manganese Project (formerly Emily Manganese Project) in Minnesota.

Electric Metals (OTCQB:EMUSF) has announced positive results from its Preliminary Economic Assessment (PEA) for the North Star Manganese Project in Emily, Minnesota. The project demonstrates robust economics with a post-tax NPV10% of US$1.39 billion, an IRR of 43.5%, and a 23-month payback period.

The project aims to become the first fully U.S. domestic producer of high-purity manganese sulphate monohydrate (HPMSM), addressing the country's 100% import reliance on manganese. The PEA outlines a 25-year project life with initial capital expenditure of US$474.8 million, producing an average of 180,331 tonnes of HPMSM annually after expansion.

The Emily Manganese Deposit features 7.6 million tonnes of Inferred Resources at 19.1% Mn and 3.7 million tonnes of Indicated Resources at 17.0% Mn, representing North America's highest-grade manganese deposit.

Electric Metals (OTCQB:EMUSF) announced three key developments: First, the mutual termination of its option and acquisition agreement with Altair Resources for the Nevada silver assets, effective July 25, 2025, with no termination fees. Second, the company is actively seeking new strategic partners for its Nevada precious metal assets, including the Corcoran Canyon Silver-Gold Project (containing 33.5M silver-equivalent ounces) and the Belmont Silver Project.

The Corcoran resource estimate from 2021 used metal prices of $21.09/oz silver and $1,657/oz gold, while current prices are significantly higher at $38.18/oz (+81%) and $3,343.50/oz (+101%) respectively, indicating substantial upside potential. Additionally, the company granted 3,939,740 Deferred Share Units (DSUs) to non-executive board members, vesting over one year and redeemable upon director departure.

Electric Metals (OTCQB:EMUSF) has signed a Memorandum of Understanding with Lucid Group as part of the newly formed Minerals for National Automotive Competitiveness (MINAC) initiative. This strategic collaboration aims to reduce U.S. dependence on foreign critical minerals in the automotive supply chain.

The initiative aligns with the Presidential Executive Order on critical minerals and includes other key players such as Alaska Energy Metals Corporation, Graphite One Inc., and RecycLiCo Battery Materials Inc. Electric Metals plans to provide domestic high-purity manganese products for both civilian and defense applications. The collaborative's formal launch includes a panel discussion featuring Arizona Governor Katie Hobbs and other political figures in Washington, D.C.