Euro Manganese enters two consecutive trading halt pending placement announcement

Euro Manganese Inc (ASX:EMN) (CVE:EMN) has been granted consecutive trading halts by the ASX with a placement announcement upcoming. In its application for the halt, the manganese project developer said it was "to consider, plan for and execute the placement in an orderly fashion". Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the start of normal trading on Friday, October 23, 2020, or when the announcement is released to the market. Shares have been trading higher since last month when Tesla Inc (NASDAQ:TSLA) announced during its annual Battery Day that it intended to use more manganese in its new-generation batteries. Since closing at A$0.06 on September 3, shares have risen to A$0.27 on September 30, a new high of more than 12 months, and last traded at A$0.23. The company’s goal is to become a leading, competitive and environmentally superior primary producer of ultra-high-purity manganese products in the heart of Europe from its Chvaletice project in the Czech Republic, serving the lithium-ion battery industry as well as producers of specialty steel and aluminium alloys.