European Metals still aiming to publish DFS this year
November 09, 2023 at 05:33 am EST
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European Metals Holdings Ltd (AIM:EMH, ASX:EMH, OTCQX:EMHLF) Executive Chairman Keith Coughlan speaks to Thomas Warner from Proactive after the mineral exploration and development company announced results from the Lithium Chemical Plant (LCP) pilot programme at its Cinovec Project in the Czech Republic.
The company has reported favourable outcomes from ongoing test work, notably producing high-purity battery-grade lithium carbonate. Coughlan says that European Metals is still determining the final product, with a noticeable market shift in Europe from lithium hydroxide to lithium carbonate on account of increasing demand for lithium iron phosphate (LFP) batteries, for which carbonate is preferred.
Amid these developments, Coughlan affirmed that the definitive feasibility study (DFS) is on schedule for release by year-end. He says that the Cinovec Project, which has significant support from the Czech government and has been deemed strategic by the EU, bolstered by a €50 million grant, is anticipated to receive continued financial and legislative backing.
Coughlan remains optimistic about the project's progress and the forthcoming final investment decision, underscored by the project's importance to the EU's lithium production ambitions.
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European Metals Holdings Limited is an Australia-based mineral exploration and development company. The Company focused on advancing the Cinovec vertically integrated battery metals project in Czech Republic. The Company, through its subsidiary, Geomet s.r.o., controls the mineral exploration licenses over the Cinovec Lithium/Tin project. Cinovec hosts a global hard rock lithium deposit with a total indicated mineral resource of 372.4 Mt. The project is located approximately 100 kilometers northwest from Prague on the border with Germany, adjacent to a main road with two rail lines within 10 kilometers of the deposit. The project is situated in the heart of Europe with ready access to end user car makers and companies involved in energy storage.