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    EMH   AU000000EMH5

EUROPEAN METALS HOLDINGS LIMITED

(EMH)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 09/20
1.54 AUD   -3.75%
07/29EUROPEAN METALS : Quarterly Activities/Appendix 5B Cash Flow Report
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European Metals Holdings Limited Announces Measured Resource Drilling Update

05/21/2021 | 02:19am EDT

European Metals Holdings Limited announced that the Cinovec Project company Geomet S.R.O has submitted the documentation related to the initial EIA notification to the Czech Ministry of the Environment. The Company also provides the latest results from its current nineteen hole resource drilling programme at the Cinovec Project. The current programme of work was announced by the Company on 10 August 2020 (Measured Resource Drilling Commenced). Drilling of seventeen of the nineteen holes has been completed and the eighteenth hole is currently underway. Analytical results for another six of the drill holes from the Cinovec South deposit are reported. The Submission of the EIA to the Czech Ministry of the Environment officially initiates the environmental impact assessment process of the Cinovec project. The Ministry of Environment has launched a two-month screening procedure, including the notification of all concerned stakeholders. During this time, the Ministry will assess the submitted documentation, comments of all stakeholders in the proceedings and decide whether it will be necessary for European Metals to prepare additional studies. Following European and Czech environmental legislation. The submission also includes an independent expert assessment of Natura 2000 (the European Union’s network of nature protection areas) which concluded that there is no negative impact on the surrounding bird area and other sites of natural importance. Given the relative ease of beneficiation of the Cinovec deposit through wet magnetic separation the Company decided that it was important to report the drill results and the “in lab” beneficiation results. As reported to the market 21 October 2016 (Outstanding Lithium Recoveries at Coarse Grind) wet magnetic separation (“WMS”) achieved a near pure lithium mica concentrate grading 2.85% Li2O with a lithium recovery of 92%. Results: Resource drill holes CIS-24, CIS-25, CIS-26, CIS-28, CIS-29 and CIS-30 have been completed including analytical reports. Resource drill holes CIS-15, CIS-16, CIS-17, CIS-27and CIS-32 have been drilled with analytical results pending. Drilling of resource hole CIS-33 is currently underway. Hole CIS-24 returned 66.5m averaging 0.56% Li2O, incl. 6.7m @ 0.93% Li2O, and 20m @ 0.13% Sn. Hole CIS-25 returned 88.2m averaging 0.60% Li2O and 0.17% Sn, incl. 21.4m @ 0.73% Li2O and 0.46% Sn. Hole CIS-26 returned 84.6m averaging 0.49% Li2O and 0.09% Sn. Hole CIS-28 returned 86.3m averaging 0.51% Li2O, incl. 5.25m @ 0.97% Li2O. Hole CIS-29 returned 70.8m averaging 0.52% Li2O, incl. 3.1m @ 0.99% Li2O, and 2m @ 0.99% Li2O. Hole CIS-30 returned 66.2m averaging 0.49% Li2O and 0.13% Sn, incl. 3.5m @ 1.31% Li2O, 0.42% Sn and 0.155% W, 1m @ 2.3% Li2O, 0.59% Sn and 0.327% W, and 4.45m @ 0.85% Sn. The current drill programme will define blocks of resource for the first 5 years of mining within the Cinovec-South area, with a goal to convert the resource from indicated to measured category. The holes have been terminated in ore consistent with the aim of targeting the first 5 years of resource blocks for the mine.


ę S&P Capital IQ 2021
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Financials
Sales 2020 0,23 M 0,17 M 0,17 M
Net income 2020 2,81 M 2,04 M 2,04 M
Net cash 2020 0,06 M 0,04 M 0,04 M
P/E ratio 2020 15,6x
Yield 2020 -
Capitalization 270 M 196 M 196 M
EV / Sales 2019 149x
EV / Sales 2020 194x
Nbr of Employees -
Free-Float 89,2%
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Last Close Price 1,54 
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Managers and Directors
Keith Dudley Coughlan Executive Chairman, CEO & Managing Director
Wendy Lim Chief Financial Officer
Walter Mńdel Manager-Operations
Kiran Caldas Morzaria Non-Executive Director
Richard PavlÝk Executive Director