- Euro Manganese (EMN) has entered a trading halt this morning in preparation for a proposed capital raising
- The trading halt is expected to remain in place until Monday, March 22, or until an announcement is released to the market
- Earlier this month, the company outlined its intention to list on the OTCQX exchange in response to growing interest from investors in the United States
- The planned listing comes as Euro Manganese moves forward with a definitive feasibility study, final environmental impact assessment and construction of a demonstration plant at its Chvaletice Manganese Project
- Shares in Euro Manganese last traded at $0.67 each on March 17
Euro Manganese (EMN) has entered a trading halt this morning in preparation for a proposed capital raising.
The trading halt, which also applies to those common shares held as CHESS Depositary Interests, is expected to remain in place until Monday, March 22, or until an announcement is released to the market.
It follows a separate announcement released earlier this month, which outlined a planned listing on the OTCQX exchange in response to growing interest from investors in the United States.
In addition to its ASX listing, the company’s shares are also traded on the TSX Venture Exchange.
Euro Manganese said the OTCQX listing is expected to provide those U.S. investors with exposure to its Chvaletice Manganese Project in the Czech Republic, roughly 90 kilometres east of Prague, which is is designed to produce high-purity manganese products for the automotive battery industry.
The project, which is held by the company’s Czech subsidiary, Mangan Chvaletice s.r.o., will reprocess manganese-rich waste from a decommissioned mine site with the support of E.U.-backed EIT InnoEnergy — the world’s largest sustainable energy innovation engine.
Marco Romero, CEO of Euro Manganese, said the agreement with EIT InnoEnergy will help to accelerate the Chvaletice Project’s integration into Europe’s battery supply chain.
“We are moving forward with work on our definitive feasibility study, final environmental impact assessment and the building of a demonstration plant, all currently scheduled for completion by the end of this year,” he said.
Of the proposed OTCQX listing, Romero added that the company was “taking this important step to provide U.S.-based investors with an efficient way to trade our shares and invest in Euro Manganese as we develop our battery materials business.”
Shares in Euro Manganese last traded at $0.67 each on March 17.