on Electric Metals (USA) Limited (CVE:EML)
Electric Metals Seeks New Buyers for Nevada Silver Assets
Electric Metals (USA) Limited has announced the termination of its purchase agreement with Ameerex Corporation over its Nevada silver assets. The termination occurred following Ameerex's failure to complete the second payment of $1,100,000. Electric Metals has kept $350,000 from previous payments and fees.
The assets include shares in North American Silver Corporation and indirectly, Centennial Mining, which together oversee the Corcoran silver-gold and Belmont silver properties in Nye County, Nevada. The company is now in talks with new interested buyers to offload these non-core holdings.
CEO Brian Savage stated that the firm is focused on monetizing these silver assets. Their core priority remains on advancing the North Star Manganese Project in Minnesota to build a domestic U.S. manganese supply chain.
R. E.
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