American Manganese expands manganese holdings to California
Junior mineral explorer American Manganese Inc. (TSXV:AMY) has struck a deal to buy 100 per cent of certain manganese mining claims in Imperial County, Calif.
The pricetag of the deal is $20,000 in cash and 200,000 shares of the B.C.-based company, American Manganese said Monday.
The sellers are Elemental Solutions LLC and Lodestar Management Group LLC, which each owned 50 per cent of the so-called SoCal manganese claims.
“This acquisition of the SoCal Manganese prospect increases the company’s exposure to manganese projects in the United States,” president and CEO Larry Reaugh said in a release.
“The company’s focus remains on the Artillery Peak manganese project in Arizona.”
In trading on the TSX Venture Exchange, American Manganese shares rose two cents to 65 cents, a gain of more than three per cent.