- Canada-based mineral resource company Euro Manganese (EMN) has entered back-to-back trading halts ahead of a proposed capital raise
- While finer details of the raise aren’t yet certain, EMN has stated it will conduct an institutional placement
- The company’s main focus is its Chvaletice Manganese Project in the Czech Republic, which EMN hopes will become a key European producer of manganese products for the automotive and lithium-ion battery industries
- The upcoming raise follows a two-tranche placement completed in August that raised C$4.04 million (roughly A$4.3 million)
- The previous placement funds also went towards advancing the Chvaletice Manganese Project
- Company shares last traded for 23 cents on Friday, October 16
Euro Manganese (EMN) has entered back-to-back trading halts ahead of a proposed capital raise.
The company will remain in the trading halts until Friday, October 23, unless details of the capital raise are announced to the market earlier.
While finer details of the raise aren’t yet certain, EMN has stated it will conduct an institutional placement.
Euro Manganese is a Canada-based mineral resource company that is focused on manganese production. EMN is working towards becoming a world-leading producer of high-purity manganese. To do this, it is developing its Chvaletice Manganese Project in the Czech Republic.
As it builds up the manganese play, EMN hopes it will become a key European producer of manganese products for the automotive and lithium-ion battery industries.
So far, a pilot-plant test and preliminary economic assessment (PEA) have been completed and a feasibility study is in progress ahead of the Chvaletice Demonstration Plant’s construction next year.
The upcoming placement follows a two-tranche placement completed less than two months ago, when EMN raised C$4.04 million (roughly A$4.3 million). The previous placement funds also went towards advancing the Chvaletice Manganese Project.
Company shares last traded for 23 cents on Friday, October 16.