Electric Metals (USA) Limited
Electric Metals (USA) Limited (TSXV: EML, OTCQB: EMUSF, formerly Nevada Silver Corporation until May 2023) is a US-domiciled critical-minerals developer whose principal asset is the Emily manganese deposit in the Cuyuna Iron Range of central Minnesota -- described by the company as the highest-grade manganese deposit in North America. Its North Star Manganese Project pairs an underground mine at Emily with a planned domestic high-purity manganese sulphate monohydrate (HPMSM) and electrolytic manganese metal (EMM) chemical processing facility, with the strategic premise of establishing the first fully domestic US manganese supply chain for battery and steel end-markets. A Preliminary Economic Assessment effective 15 August 2025 reported an after-tax NPV at a 10% discount rate of US$1.390 billion, an after-tax IRR of 43.5%, initial capital expenditure of US$474.8 million including a 25% contingency, 23 years of mine and processing operations within a 25-year project life, and a 23-month payback from start of production, assuming US$2,500 per tonne HPMSM held constant. The mineral resource behind the PEA is 7.60 million tonnes at 19.07% Mn Indicated plus 3.73 million tonnes at 17.04% Mn Inferred. The company is divesting its legacy Nevada silver assets: a definitive agreement effective 30 January 2026 sells subsidiaries North American Silver Corporation and Centennial Mining, holding the Corcoran silver-gold and Belmont silver properties in Nye County, to Ameerex Corporation.
Notable vs. Peers
- Jurisdiction risk score of 9/10 is meaningfully safer than the peer average of 7.3/10.
Lifecycle Milestones
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.
Your Rankings
Management Team
No one tracked here yet.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Eric Sprott's personal investment vehicle increased its stake in a real, cash-funded private placement in October 2025, taking his position to roughly 9-11% depending on how warrants are counted -- and the increase itself triggered a Canadian early-warning filing at the 10% threshold. No genuine open-market insider buying or institutional holder was found.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
North Star Manganese Project PEA, effective 15 Aug 2025. Mineral Resource: 7,600.4 kt at 19.07% Mn Indicated plus 3,725.3 kt at 17.04% Mn Inferred. Because this is a manganese tonnage/grade resource and not a precious-metal ounce count, it is recorded here rather than written to ouncesFound. Economics: after-tax NPV10% US$1.390B, after-tax IRR 43.5%, initial capex US$474.8M (incl. 25% contingency), 23 years of mine and processing operations within a 25-year project life, 23-month payback from start of production, at US$2,500/t HPMSM held constant for life of project. The PEA discloses an NPV at 10% only -- no 5% (or other rate) NPV is published -- so 10% IS this study's base-case rate: the US$1.390B figure is recorded in dcfNpvUsd with dcfNpvDiscountRatePct = 10, never back-derived to a 5% equivalent. This follows the same base-case-primacy convention as the other rate-10 rows on file (AAU, GBU, MSA, TGM) and SGO's 8% PEA. dcfNpvUsd10Pct is deliberately null: that field is the 10% sanity check on a headline disclosed at some OTHER rate, and this study publishes no such headline.