American Manganese waits out lull

Jun 14, 2013 | 12:47 PM | Daniel Fitzgerald

Tags  American Manganese, Artillery Peak, manganese, electrolytic manganese dioxide, electrolytic manganese metal, EMD, EMM, Larry Reaugh Daniel Fitzgerald

NEW YORK — American Manganese Inc. is looking to keep its Artillery Peak project in Arizona "intact and alive" amid a lull in both manganese prices and investors’ interest in junior miners.

The company is negotiating lease payments for the Artillery Peak site but it is struggling to attract serious financial interest in the project, American Manganese president and chief executive officer Larry Reaugh told AMM.

Low base metal prices have deterred many investors from the mining sector, he said. "Like all of our peers, the market is not coming forth with any money for us. If you look at the TSX (Toronto Stock Exchange), shares of all these companies are trading for pennies. Our objective over the next year is to keep our project intact and alive. I expect we’re at the bottom of the market now and will see some improvements by fall."....

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