Element 25 shares hit 9-year high after Elon Musk says manganese will be key part of Tesla’s EV batteries

Element 25 shares hit 9-year high after Elon Musk says manganese will be key part of Tesla’s EV batteries

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Manganese stocks Element 25 Ltd (ASX:E25) and Bryah Resources Ltd (ASX:BYH) have gained significant investor interest after Elon Musk said last week during Tesla's Battery Day 2020 that the company's next-generation EV batteries would contain one-third manganese.

Musk said: "It's relatively straightforward to do a cathode that's two-thirds nickel, one-third manganese, which will allow us to make 50% more cell volume with the same amount of nickel."

E25 reached a new 9-year high of 92 cents today and Bryah shares have surged 20% this month to 6 cents.*Butcherbird Manganese Project*

Beneficiation test-work completed during the first quarter of 2020 on E25's Butcherbird Manganese Project in Western Australia highlighted a compelling opportunity to fast-track the development of the project by implementing a low capital cost start-up stage exporting manganese lump ore.

The pre-feasibility study (PFS) and maiden reserve for the project confirmed outstanding economics and a low capital requirement, with the potential to be Australia's next significant manganese mine.

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