EMN to Ride Global Battery Metals Surge
We invested in Euro Manganese Inc (ASX:EMN) for the same reasons we invested in Vulcan Energy Resources Ltd (ASX: VUL).
Last Friday, we sent you a note about VUL when it was trading at $1.10. Yesterday, the share price hit a high of $1.98.
As with VUL, EMN is developing an environmentally friendly, European Electric Vehicle (EV) Battery Metal project and has the largest resource in Europe.
VUL aims to supply lithium. EMN aims to supply high purity manganese.
We recently increased our investment in EMN at 20c/share. Since then, the stock hit as high as 33c before settling back to circa 22.5c for most of November.
EMN’s share price has crept up over the last few days and it looks like it might keep going, now that the recent placement stock has been fully digested by the market.
EMN is currently the second biggest holding in our portfolio.
Battery metals stocks have gained enormous attention and are riding on the European Union’s rush to achieve net zero carbon emissions by 2030 - this includes ushering in a new EV normal.
The Biden US Presidential win will only accelerate demand for EV battery metals globally.
Just like VUL, EMN:
- Has the biggest resource of its kind in Europe;
- Has an environmentally friendly project - EMN is rehabilitating an existing mine and extracting battery grade manganese from tailings.
- Is in the European Union. The EU plans to spend at least One Trillion Euros on decarbonisation over the next decade.
On the back of the explosive rise in VUL this week, we expect good things from EMN in the lead up to Christmas and beyond.
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