Electric Metals (USA) Limited (EML) Financings
TSXV: EML · Manganese · Advanced Exploration stage
- Market cap$26.2M
- Share price$0.130
- 52-week range$0.125 – $0.580
- Shares outstanding201,883,424
- ExchangeTSXV
- Websitewww.electricmetals.com
Electric Metals (USA) Limited (TSXV: EML; OTCQB: EMUS) is a U.S.-domiciled critical minerals and advanced materials company developing the North Star Manganese Project to establish a fully domestic U.S. supply of high-purity manganese products for battery, defense, infrastructure, technology, and industrial markets. The Company's principal asset is the Emily manganese deposit in Minnesota, the highest-grade manganese deposit in North America. The North Star Manganese Project is a 100% U.S. domestic project comprising a manganese mine in Emily, Minnesota, and a U.S.-based processing facility designed to produce high-purity manganese sulfate monohydrate (HPMSM) and electrolytic manganese metal (EMM). The project has been the subject of extensive technical work, including a Preliminary Economic Assessment prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.
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Electric Metals (USA) Limited financial statements
Key figures read from 23 of 23 financial statement filings, Nov 27, 2020 to Aug 13, 2026. Each column is the period as the company first filed it.
Balance sheet: annual key figures
figures as printed in the statements. Losses and cash outflows are in brackets.
| Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Jan 2022 | |
|---|---|---|---|---|---|
| Cash and equivalents | US$2,442,551 | US$53,461 | US$1,758,464 | C$170,108 | US$237,867 |
| Short-term investments | US$0 | US$97,927 | US$101,627 | — | US$0 |
| Total current assets | US$6,426,225* | US$397,997* | US$1,983,451 | C$303,610* | US$318,671 |
| Total current liabilities | — | US$1,589,328 | — | C$3,119,602 | — |
| Working capital | — | (US$1,191,331) | — | (C$2,815,992) | — |
| Exploration and evaluation assets | US$7,877,218 | US$7,240,510 | US$11,698,835 | C$9,216,374 | US$4,803,355 |
| Property, plant and equipment | US$381 | US$1,129 | US$3,207 | C$9,338 | US$1,458 |
| Total assets | US$14,303,824 | US$7,735,979 | US$13,781,836 | C$9,808,701 | US$5,123,484 |
| Debt | — | US$0 | US$83,774 | C$190,341 | US$189,489 |
| Shareholders' equity | US$13,350,147 | US$6,146,651 | US$12,472,351 | C$6,689,099 | US$4,299,250 |
* Calculated from the statement's own lines: the company did not print this total with a label.
Income statement: annual key figures
figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Dec 2025 | FY Dec 2024 | FY Dec 2023 | FY Dec 2022 | FY Dec 2021 | |
|---|---|---|---|---|---|
| Exploration and evaluation expense | US$16,640 | — | US$0 | C$4,103 | C$0 |
| General and administrative | US$1,021,464 | US$550,725 | US$673,825 | C$410,855 | C$218,323 |
| Share-based compensation | US$92,074 | US$191,796 | US$428,476 | C$78,460 | C$582,878 |
| Net income (loss) | US$652,972 | (US$6,912,327) | (US$2,527,591) | (C$2,507,116) | (C$4,574,085) |
Cash flow statement: annual key figures
figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Dec 2025 | FY Dec 2024 | FY Dec 2023 | FY Dec 2022 | FY Dec 2021 | |
|---|---|---|---|---|---|
| Operating cash flow | (US$2,564,411) | (US$1,404,572) | (US$2,247,128) | (C$1,635,294) | (C$2,216,410) |
| Investing cash flow | (US$1,112,631) | (US$652,927) | (US$5,798,195) | (C$1,033,599) | (C$2,082,375) |
| Financing cash flow | US$6,061,346 | US$325,473 | US$9,675,912 | C$2,956,943 | C$4,591,219 |
| Exploration spending (capitalized) | (US$1,210,753) | (US$655,733) | (US$5,693,134) | (C$893,391) | (C$2,365,410) |
| Change in cash | US$2,389,090 | (US$1,705,003) | US$1,632,867 | (C$131,460) | C$292,434 |
| Cash at end of period | US$2,442,551 | US$53,461 | US$1,758,464 | C$170,108 | C$301,568 |
Electric Metals (USA) Limited financings
1 financing announced or closed by Electric Metals (USA) Limited, read by Mining News Terminal, newest first.
| Date | Company | Type | Stage | Amount | Unit price | Release |
|---|---|---|---|---|---|---|
| 2025-10-23 | Electric Metals (USA) Limited (EML) | Private placement, non-brokered | Closed, 1 tranche | $4.0M | $0.300 | Electric Metals Announces Private Placement Offering |