European Metals

European Metals Holdings Limited (ASX:EMH) is a lithium exploration and development company focused on fully funding its flagship Cinovec Lithium-Tin Project in the Czech Republic to production. The company is dual-listed on the Australian Securities Exchange (ASX) and the London Stock Exchange (LSE) AIM market under the ticker EMH.

European Metals is developing the Cinovec Project, one of the largest hard rock lithium resources in Europe, which is located in the Czech Republic near the border with Germany. Cinovec contains a globally significant hard rock lithium resource of 7.39 million tonnes of LCE (Lithium Carbonate Equivalent) and by-product credits including tin, tungsten, potash, and sodium sulfate.

The Cinovec Project is in an advanced stage of development, having completed a Preliminary Feasibility Study in January 2022. This study outlined strong economics with a US$1.94 billion NPV, 36.3% IRR based on production of 29,386 tonnes per annum of battery-grade lithium hydroxide from a 25-year underground mine life. The Project has very low operating costs of US$5,567 per tonne owing to the extensive by-product credits. The Project has a measured and indicated resource representing 13.1% of the known deposit that can significantly extend the life of mine.

European Metals is fully funded through a Final Investment Decision in 2023 through a strategic partnership agreement with leading Czech energy group CEZ which has invested 29 million Euros, and EIT InnoEnergy, a European Union body to facilitate funding and assist with securing strategic partners, to develop the Cinovec project.