Electric Metals Launches Preliminary Economic Assessment on the Emily Manganese Project, Minnesota
Rhea-AI Summary
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.
Positive
- Highest grade manganese deposit in North America
- Strategic positioning to address U.S. domestic manganese supply gap
- PEA completion expected in Q2 2025, marking concrete progress
- Project addresses national security and energy independence needs
Negative
- Project still in early assessment phase with no production timeline
- Financial investment requirements not yet determined
- Final economic viability still uncertain pending PEA results
News Market Reaction
On the day this news was published, EMUSF declined 10.41%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
TORONTO, ON / ACCESS Newswire / January 28, 2025 / Electric Metals (USA) Limited ("EML" or the "Company") (TSXV:EML)(OTCQB:EMUSF) is proud to announce the launch of its Preliminary Economic Assessment (PEA) for the Emily Manganese Project in Minnesota, a pivotal step in securing a domestic supply of high-purity manganese vital for the United States' national security and energy infrastructure.
The PEA is being conducted by Forte Dynamics, Inc., a United States-based mining and engineering consulting firm, in accordance with US and Canadian securities requirements [1]. The PEA will evaluate the technical and economic viability of the Emily Manganese Project. It will assess the project scope, production potential, mining methods, infrastructure requirements, environmental compliance matters, and project economics. These insights will guide regulatory processes, inform investment decisions, and shape the project's strategic direction.
Key Project Milestones
Advanced geological analysis and resource estimation updates to refine the understanding of the deposit's potential.
Technical assessments, including preliminary underground mining methods, stope layouts, and life-of-mine scheduling.
Development of optimized processing flowsheets and evaluation of sustainable infrastructure designs.
Planning of surface infrastructure, including access roads, waste management, and water resources, ensuring alignment with sustainability goals.
Key financial metrics, including Net Present Value (NPV), Internal Rate of Return (IRR), and economic payback period.
In recent months, the project team has completed a comprehensive review of existing data, achieved a thorough gap analysis, and accelerated efforts to finalize technical studies. These steps lay the foundation for delivering a robust, actionable PEA in Q2 2025, enabling the Company to progress toward subsequent phases of development.
Environmental and Economic Impact
The Emily Project is being developed with environmental stewardship at its core, integrating sustainability and permitting considerations at every stage. By advancing this project, Electric Metals is not only addressing a critical supply chain gap but also contributing to the United States' energy independence and national security.
CEO and Director Brian Savage commented: "The launch of the Emily Manganese Project PEA, the highest grade manganese deposit in North America, represents a decisive step toward reducing the United States' dependence on foreign sources for manganese production. Our goal for the Emily Project is to support the monumental shift toward US energy independence, strengthen national security, domestic industrial resilience, and support our mission to become a leading supplier of high-purity manganese for critical industries in the United States. We are excited about the progress and remain dedicated to advancing this project with operational excellence and environmental responsibility."
About Electric Metals (USA) Limited
Electric Metals (USA) Limited (TSXV:EML)(OTCQB:EMUSF) is a US-based mineral development company with manganese and silver projects geared to supporting the transition to clean energy. The Company's principal asset is the Emily Manganese Project in Minnesota, the highest-grade manganese deposit in North America, which has been the subject of considerable technical studies, including National Instrument 43-101 Technical Reports - Resource Estimates. The Company's mission in Minnesota is to become a domestic US producer of high-value, high-purity manganese metal and chemical products to supply the North American electric vehicle battery, technology and industrial markets. With manganese playing a critical and prominent role in lithium-ion battery formulations, and with no current domestic supply or active mines for manganese in North America, the development of the Emily Manganese Project represents a significant opportunity for America, the State of Minnesota and for the Company's shareholders.
For further information, please contact:
Electric Metals (USA) Limited
Brian Savage
CEO & Director
(303) 656-9197
or
Valerie Kimball
Director Investor Relations
720-933-1150
info@electricmetals.com
Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions.
Such statements in this news release include, without limitation: the ability of the Company to complete the Preliminary Economic Assessment for the Emily Manganese Project, the Company's mission to become a domestic US producer of high-value, high-purity manganese metal and chemical products to supply the North American electric vehicle battery, technology and industrial markets; that manganese will continue to play a critical and prominent role in lithium-ion battery formulations; that with no current domestic supply or active mines for manganese in North America, the development of the Emily Manganese Project represents a significant opportunity for America, Minnesota and for the Company's shareholders; and planned or potential developments in ongoing work by Electric Metals.
These statements address future events and conditions and involve inherent risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such risks include, but are not limited to, the failure to obtain all necessary stock exchange and regulatory approvals; investor interest in participating in the Offering; and risks related to the exploration and other plans of the Company. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, updated conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
[1] United States Securities and Exchange Commission S-K 1300 and Canadian National Instrument 43-101.
SOURCE: Electric Metals (USA) Limited
View the original press release on ACCESS Newswire
FAQ
When will Electric Metals (EMUSF) complete the PEA for the Emily Manganese Project?
What is the significance of the Emily Manganese Project's grade?
What will the PEA for EMUSF's Emily Project evaluate?
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