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The company will use the funds to expand its Butcherbird project in Western Australia to 1 million tonnes per annum capacity, with the first stage of the operation currently being commissioned.
Manganese is "looming as an increasingly important ingredient for EV batteries".
Element 25 claims Butcherbird is ideally placed to feed this demand, with advanced flowsheet development work in 2019 and 2020 confirming a simple, unique, ambient temperature and atmospheric pressure leach process for the E25 ores which, when combined with offsets, will target the world's first ‘Zero Carbon Manganese' for EV cathode manufacture".
Element 25 shares were at levels around 15c 12 months ago.
Shares in Element 25 were down 9% to $2.44 in midday trade, capitalizing the company at $324 million.
