Proactiveinvestors Australia European Metals Holdings https://www.proactiveinvestors.com.au Proactiveinvestors Australia European Metals Holdings RSS feed en Sun, 19 May 2019 20:57:16 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Quarterly Activities Report ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190430070003_14056218/ Tue, 30 Apr 2019 16:00:03 +1000 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190430070003_14056218/ <![CDATA[News - European Metals provides quarterly update ]]> https://www.proactiveinvestors.com.au/companies/news/219331/european-metals-provides-quarterly-update-219331.html European Metals Holdings LTD (LON:EMH)(ASX:EMH) ended the quarter to March with A$1.32mln cash in the bank.

The company completed a significant amount of drilling on its Cinovec lithium project during the period.

WATCH: European Metals targets EU demand for Lithium ahead of EV revolution

Results from five holes were released, and showed good grades. Among the highlights were 129 metres averaging 0.51% lithium dioxide, and 108 metres averaging 0.45%.

Following the period end the company also produced a battery-grade hydroxide sample, and updated its economic model for Cinovec accordingly.

Cinovec hosts a total indicated mineral resource of 372.4mln tonnes grading 0.45% lithium oxide and 0.04% tin, and an inferred mineral resource of 323.5mln tonnes at 0.39% lithium oxide and 0.04% tin.

 

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Tue, 30 Apr 2019 07:44:00 +1000 https://www.proactiveinvestors.com.au/companies/news/219331/european-metals-provides-quarterly-update-219331.html
<![CDATA[News - European Metals Holdings eyes further progress in the Czech Republic ]]> https://www.proactiveinvestors.com.au/companies/news/219277/european-metals-holdings-eyes-further-progress-in-the-czech-republic-219277.html The company’s blurb describes European Metals Holdings PLC (LON:EMH) (ASX:EMH) as a UK and Australia-listed exploration business focused on developing a lithium and tin project in Czech Republic. But this doesn’t quite capture the potential of the business through its ownership of the Cinovec Project, host to the largest lithium resource in Europe and one of the biggest untapped tin deposits in the world. In other words EM has a tiger by the tail.

Cinovec is around 60 miles north-west of Prague on the border with Germany. So, it has ready access to end-users such as carmakers and companies building the latest generation of electric vehicles.

The deposit itself is host to an inferred and indicated resource of almost 700mln tonnes at a cut-off of 0.195% lithium and 0.04% tin.  A preliminary economic assessment (PEA) suggests an operation on the site of the historic mine churning out 22,500 tonnes a year of battery grade lithium would cost US$393mln.

Inflexion points

In a presentation last November, EM outlined its ‘key activities’ for the next 12 months.

These included:

Completing the drilling and upgrade resource model to include a measured resources to facilitate calculation of a proven ore reserve Begin definitive feasibility (DFS) engineering Progress environmental impact assessments for mining and processing. Complete locked cycle test work and flowsheet optimisation Operate pilot plant for production of marketing samples Commence variability testwork Progress strategic partner discussions

In April the company revealed it passed one of these landmarks having produced battery-grade lithium hydroxide from ore from the deposit. While it was only a small-scale trial, European Metals is confident it could achieve a potential production rate in excess of 25,000 tonnes per annum of lithium hydroxide.

“The clear majority of European battery producers are indicating a requirement for lithium input to be supplied as battery grade lithium hydroxide,” said managing director Keith Coughlan. “The fact that EM has now demonstrated the ability to produce this product from Cinovec ore is an exciting development that will enable the company to supply its final product into the European marketplace.”

Blue Sky

The DFS should copper-bottom what already looks like a potentially world-scale deposit. Meanwhile, European Metals said in March it remains confident that drilling underway at Cinovec will move significant resources into the indicated category. European Metals has reported results from five of the eight holes planned in the programme, which is part of work ongoing on the DFS.

However, a deal with a potential partner would provide third-party validation for the project and, of course, deliver the financial heft required to required to get the historic mine back into operation. There has been radio silence from a Czech group, which purportedly made an offer for Cinovec back in January.

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Mon, 29 Apr 2019 13:41:00 +1000 https://www.proactiveinvestors.com.au/companies/news/219277/european-metals-holdings-eyes-further-progress-in-the-czech-republic-219277.html
<![CDATA[RNS press release - Lithium Hydroxide Produced - Clarification ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190408094932_14032382/ Mon, 08 Apr 2019 18:49:32 +1000 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190408094932_14032382/ <![CDATA[News - European Metals produces battery-grade lithium hydroxide at Cinovec ]]> https://www.proactiveinvestors.com.au/companies/news/218146/european-metals-produces-battery-grade-lithium-hydroxide-at-cinovec-218146.html European Metals Holdings Limited (LON:EMH) has produced battery-grade lithium hydroxide from ore from its Cinovec project in Czech Republic.

Cinovec is host to an estimated 7.18mln tonnes of lithium carbonate equivalent, but European battery makers prefer to use lithium hydroxide in their latest products.

European Metals looked at either producing lithium hydroxide directly or converting lithium carbonate.

WATCH: European Metals targets EU demand for lithium ahead of EV revolution

Bosses opted for the latter and a 4.3kg sample of lithium concentrate was taken and turned into battery-grade lithium hydroxide which weighed just under 10 grams.

The data from this initial test-run, which was focused on grade not recovery, will now be used to update the pre-feasibility study. That update is expected to be completed within six weeks.

While it was only a small-scale trial, European Metals is confident it could achieve a potential production rate in excess of 25,000 tonnes per annum of lithium hydroxide.

“The clear majority of European battery producers are indicating a requirement for lithium input to be supplied as battery grade lithium hydroxide,” said managing director Keith Coughlan.

“The fact that EMH has now demonstrated the ability to produce this product from Cinovec ore is an exciting development that will enable the company to supply its final product into the European marketplace.”

He added: “Meeting the European battery market's requirements and expectations is foremost in our considerations. EMH's next step is a formal update of the 2017 PFS, the outcomes from which will be reported shortly.”

EMH shares rose 5.5% to 18.7p on Monday morning.

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Mon, 08 Apr 2019 10:33:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218146/european-metals-produces-battery-grade-lithium-hydroxide-at-cinovec-218146.html
<![CDATA[RNS press release - Project Update - Battery Grade Lithium Hydroxide ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190402070002_14024475/ Tue, 02 Apr 2019 17:00:02 +1100 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190402070002_14024475/ <![CDATA[Media files - European Metals targets EU demand for Lithium ahead of EV revolution ]]> https://www.proactiveinvestors.com.au/companies/stocktube/12822/european-metals-targets-eu-demand-for-lithium-ahead-of-ev-revolution-12822.html Tue, 02 Apr 2019 13:51:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/12822/european-metals-targets-eu-demand-for-lithium-ahead-of-ev-revolution-12822.html <![CDATA[News - European Metals produces sample of battery-grade lithium hydroxide from Cinovec ore ]]> https://www.proactiveinvestors.com.au/companies/news/217722/european-metals-produces-sample-of-battery-grade-lithium-hydroxide-from-cinovec-ore-217722.html European Metals Holdings Ltd (LON:EMH) shares found gains on Tuesday on news it has successfully developed a flow sheet for the production of battery-grade lithium hydroxide from ore from the Cinovec project in the Czech Republic.

A formal update to the pre-feasibility study is underway and will incorporate a potential production rate of 25,000 tonnes per year.

It should be ready within six weeks.

Of the various tests done, the more robust flowsheet involved the production of battery grade lithium carbonate followed by conversion to battery grade lithium hydroxide.

"The clear majority of European battery producers are indicating a requirement for lithium input to be supplied as battery grade lithium hydroxide,” said European Metals managing director Keith Coughlan.

“The fact that European Metals Holdings has now demonstrated the ability to produce this product from Cinovec ore is an exciting development that will enable the company to supply its final product into the European marketplace.”

Cinovec hosts a globally significant hard rock lithium deposit with a total indicated mineral resource of 372.4mln tonnes grading 0.45% Li2O and 0.04% tin and an inferred resource of 323.5mln tonnes grading 0.39% Li2O and 0.04% tin.

In early afternoon trading, shares in European Metal were 4.4% higher at 17.75p.

 -- Adds share price --

 

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Tue, 02 Apr 2019 07:53:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217722/european-metals-produces-sample-of-battery-grade-lithium-hydroxide-from-cinovec-ore-217722.html
<![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190327164115_14018375/ Thu, 28 Mar 2019 03:41:15 +1100 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190327164115_14018375/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190327163553_14018358/ Thu, 28 Mar 2019 03:35:53 +1100 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190327163553_14018358/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190321163548_14011433/ Fri, 22 Mar 2019 03:35:48 +1100 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190321163548_14011433/ <![CDATA[RNS press release - Half-year Report ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190315080635_14003733/ Fri, 15 Mar 2019 19:06:35 +1100 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190315080635_14003733/ <![CDATA[News - European Metals confident about drilling upgrade at Cinovec ]]> https://www.proactiveinvestors.com.au/companies/news/216548/european-metals-confident-about-drilling-upgrade-at-cinovec-216548.html Lithium explorer European Metals Holdings Limited (LON:EMH) remains confident that drilling underway at Cinovec in the Czech Republic will move significant resources into the indicated category.

European Metals has reported results from five of the eight holes planned in the programme, which is part of work ongoing on a Definitive Feasibility Study.

READ: Europa Metals releases full scoping study economics for Toral project

The company had no further news on a letter from Czech group Krupa Global Investments that purported to make an indicative offer on behalf of Ceske Lithium, one of KGI’s group of companies.

Losses in the half year to December were A$2.13mln (A$1.89mln), with cash at the period end of A$2mln.

Cinovec's hard rock lithium deposit currently has a total indicated resource of 348mln tonnes grading 0.45% Li2O and 0.04% tin, with an additional inferred resource of 309mln tonnes grading 0.39% Li2O and 0.04% tin.

This makes Cinovec the largest lithium deposit in Europe, the fourth largest non-brine deposit in the world and a globally significant tin resource.

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Fri, 15 Mar 2019 09:42:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216548/european-metals-confident-about-drilling-upgrade-at-cinovec-216548.html
<![CDATA[RNS press release - Drill Programme Update ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190228070001_13984412/ Thu, 28 Feb 2019 18:00:01 +1100 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190228070001_13984412/ <![CDATA[News - European Metals pleased with latest drill results ]]> https://www.proactiveinvestors.com.au/companies/news/215484/european-metals-pleased-with-latest-drill-results-215484.html Results from the recent drilling programme at the Cinovec lithium-tin project continue to meet or exceed European Metals Holdings Limited's (LON:EMH) expectations.

The company has completed drilling on five of the eight holes it intends to drill and has released results today from the fifth drill hole – hole CIS-14.

READ: European Metals hits strong lithium grades in programme to move Cinovec resource from indicated to measured

Hole CIS-14 returned 67 metres (m) averaging 0.43% lithium oxide Li2O (including 3m @ 0.99% Li2O and 0.18% tin, or Sn); 8m @ 0.67% Li2O and 0.20% Sn (including 4.15m @ 1.00% Li2O and 0.35% Sn); 8m @ 0.21% Sn, 4m @ 0.39% Sn; and 3m @ 0.20% Sn.

Drilling activities remain suspended and will resume after the end of the snow season in the Czech Republic.

"As we have previously reported, the current drill programme has been planned to define blocks of resource for the first two years of mining within the Cinovec-South area, with a goal to convert the resource from indicated to measured category,” said Keith Coughlan, the managing director of European Metals Holdings.

“The results of this programme have either been in line with or exceeded, our expectations particularly with regard to the tin intercepts. I look forward to reporting the results of our lithium hydroxide production work, and the projected impacts upon the economics of the project over the next few weeks," he added.

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Thu, 28 Feb 2019 07:29:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215484/european-metals-pleased-with-latest-drill-results-215484.html
<![CDATA[RNS press release - Release from Escrow ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190212070003_13965590/ Tue, 12 Feb 2019 18:00:03 +1100 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190212070003_13965590/ <![CDATA[RNS press release - Quarterly Cashflow Report ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190131070002_13952595/ Thu, 31 Jan 2019 18:00:02 +1100 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190131070002_13952595/ <![CDATA[RNS press release - Drill Programme Update ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190128070003_13947894/ Mon, 28 Jan 2019 18:00:03 +1100 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190128070003_13947894/ <![CDATA[News - European Metals hits strong lithium grades in programme to move Cinovec resource from indicated to measured ]]> https://www.proactiveinvestors.com.au/companies/news/213390/european-metals-hits-strong-lithium-grades-in-programme-to-move-cinovec-resource-from-indicated-to-measured-213390.html European Metals Holdings Limited (LON:EMH) has revealed results from its ongoing eight core-hole resource drilling programme at the Cinovec lithium project.

Drilling of five of the eight holes has been completed.

WATCH: European Metals kicks off DFS drilling at Cino vec Lithium-Tin project

Among the highlights from the drilling were 129.3 metres averaging 0.51% Li2O, 108 metres averaging 0.45% Li2O, and 89 metres averaging 0.47% Li2O.

"We are very pleased to present these results,” said Keith Coughlan, managing director of European Metals.

“The current drill programme has been planned to define blocks of resource for the first two years of mining within the Cinovec-South area, with a goal to convert the resource from indicated to measured category to allow the delineation of initial proven reserves for the deposit. The results confirm our confidence in the robustness of the ore body and we are particularly encouraged by the higher than expected tin grades in hole CIS-13.”

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Mon, 28 Jan 2019 08:04:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213390/european-metals-hits-strong-lithium-grades-in-programme-to-move-cinovec-resource-from-indicated-to-measured-213390.html
<![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190116140558_13937013/ Thu, 17 Jan 2019 01:05:58 +1100 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190116140558_13937013/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190116140035_13937008/ Thu, 17 Jan 2019 01:00:35 +1100 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190116140035_13937008/ <![CDATA[RNS press release - Receipt of Unsolicited Indicative Offer - Cinovec ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190116110719_13936786/ Wed, 16 Jan 2019 22:07:19 +1100 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20190116110719_13936786/ <![CDATA[News - European Metals Holdings confirms receipt of purported indicative offer to purchase lithium project at Cinovec ]]> https://www.proactiveinvestors.com.au/companies/news/212692/european-metals-holdings-confirms-receipt-of-purported-indicative-offer-to-purchase-lithium-project-at-cinovec-212692.html European Metals Holdings Limited (LON:EMH) shares rose on Wednesday after the group confirmed it has received a purported indicative offer to "purchase the lithium mining and processing project at Cinovec" on behalf of the Ceske Litihium company, part of Krupa Global Investments (KGI).

In a statement, the AIM-listed firm said it received a letter from KGI on 15 January 2019 purporting to make the indicative offer for the project at Cinovec, which is in the Czech Republic. However, it did not contain any details with regards to price, terms or conditions.

WATCH: European Metals kicks off DFS drilling at Cinovec Lithium-Tin project

The company added: “In light of the absence of this information European Metals does not consider this to be an offer to which it can give consideration at this time.”

European Metals said it was making the announcement as it has become aware that KGI has released its letter to the Czech Press.

The group confirmed that it has had no discussion with KGI on this matter.

In late morning trading, shares in European Metal Holdings were 15.6% higher at 18.50p.

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Wed, 16 Jan 2019 11:26:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212692/european-metals-holdings-confirms-receipt-of-purported-indicative-offer-to-purchase-lithium-project-at-cinovec-212692.html
<![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20181221110534_13913256/ Fri, 21 Dec 2018 22:05:34 +1100 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20181221110534_13913256/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20181221110024_13913238/ Fri, 21 Dec 2018 22:00:24 +1100 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20181221110024_13913238/ <![CDATA[RNS press release - Director/PDMR Shareholding & Appendix 3Y ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20181221070002_13912309/ Fri, 21 Dec 2018 18:00:02 +1100 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20181221070002_13912309/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20181218070003_13906985/ Tue, 18 Dec 2018 18:00:03 +1100 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20181218070003_13906985/ <![CDATA[RNS press release - Notice of AGM ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20181130070002_13886072/ Fri, 30 Nov 2018 18:00:02 +1100 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20181130070002_13886072/ <![CDATA[RNS press release - Investor Presentation ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20181120070003_13872661/ Tue, 20 Nov 2018 18:00:03 +1100 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20181120070003_13872661/ <![CDATA[RNS press release - Successful Placing to Raise Approximately £1.035M ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20181119144654_13872288/ Tue, 20 Nov 2018 01:46:54 +1100 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20181119144654_13872288/ <![CDATA[News - European Metals raises £1.0355mln via a share placing to advance its corporate strategy ]]> https://www.proactiveinvestors.com.au/companies/news/209491/european-metals-raises-10355mln-via-a-share-placing-to-advance-its-corporate-strategy-209491.html European Metals Holdings Limited (LON:EMH) (ASX:EMH) has raised gross proceeds of £1,035,500 via a share placing to advance the group’s corporate strategy, including to progress its drilling programme and upgrade its resource model.

The AIM-listed company, which controls the Cinovec lithium deposit in the Czech Republic, the largest in Europe, said it had issued 5,177,500 new ordinary shares - represented by Chess Depositary Interests (CDIs) - with new and existing investors at an issue price of 20p each.

WATCH: European Metals kicks off DFS drilling at Cinovec Lithium-Tin project

The issue price represents around a 13% discount to the closing mid-market share price last Friday. In late afternoon trading on Monday, European Metal shares were 6.5% lower at 21.50p. 

European Metal said the funds raised will also be used to begin the engineering process for a Definitive Feasibility Study; progress Environmental Impact Assessments for mining and processing; operate a pilot plant for production of samples for marketing; and progress discussions with potential strategic partners.

The company pointed out that investor Cadence Minerals Plc (LON:KNDC) subscribed for a total of 250,000 placing shares taking its holding in European Metal to a total of 28,096,470 CDIs representing 19.16% of the enlarged issued share capital.

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Mon, 19 Nov 2018 15:22:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209491/european-metals-raises-10355mln-via-a-share-placing-to-advance-its-corporate-strategy-209491.html
<![CDATA[RNS press release - Appointment of Joint Broker ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20181107070003_13857513/ Wed, 07 Nov 2018 18:00:03 +1100 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20181107070003_13857513/ <![CDATA[RNS press release - Resource Drilling Commenced ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20181105090351_13854793/ Mon, 05 Nov 2018 20:03:51 +1100 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20181105090351_13854793/ <![CDATA[Media files - European Metals kicks off DFS drilling at Cinovec Lithium-Tin project ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11097/european-metals-kicks-off-dfs-drilling-at-cinovec-lithium-tin-project-11097.html Mon, 05 Nov 2018 09:58:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11097/european-metals-kicks-off-dfs-drilling-at-cinovec-lithium-tin-project-11097.html <![CDATA[News - European Metals lifted as it begins drilling campaign at Cinovec ]]> https://www.proactiveinvestors.com.au/companies/news/208500/european-metals-lifted-as-it-begins-drilling-campaign-at-cinovec-208500.html European Metals Holdings Limited (LON:EMH) saw its shares tick upwards in early trading Monday at it commenced a drilling campaign at its Cinovec Lithium-Tin project in the Czech Republic.

The AIM-listed miner said the first hole of the drilling programme, CIS-10, had been completed at 340 metres, with a total of eight holes to be drilled in the campaign for 2,560 metres.

READ: European Metals shares lifted as it updates on Cinovec project

The company added that geophysical logging of the first four geotechnical drill holes at the proposed mine portal site had been completed, with five more geotechnical drill holes planned once resource drilling had finished.

The drilling is aiming to convert a sufficient portion of the existing indicated mineral resources at the site to the measured resource category that will cover the first two years of EMH’s scheduled mining plan.

Keith Coughlan, managing director of European Metals, said the campaign would provide an upgrade to Cinovec’s existing resources, adding that they looked forward to being able to release the results of their lithium hydroxide, the final product, option study.

Shares were up 2% at 25.2p.

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Mon, 05 Nov 2018 09:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208500/european-metals-lifted-as-it-begins-drilling-campaign-at-cinovec-208500.html
<![CDATA[RNS press release - Quarterly Cashflow Report ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20181031074015_13848971/ Wed, 31 Oct 2018 18:40:15 +1100 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20181031074015_13848971/ <![CDATA[RNS press release - Quarterly Activities Report ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20181031073441_13848962/ Wed, 31 Oct 2018 18:34:41 +1100 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20181031073441_13848962/ <![CDATA[News - European Metals shares lifted as it updates on Cinovec project ]]> https://www.proactiveinvestors.com.au/companies/news/208213/european-metals-shares-lifted-as-it-updates-on-cinovec-project-208213.html European Metals Holdings Limited (LON:EMH ASX:EMH) saw its shares rise in early trading Wednesday after it updated on its Cinovec project in the Czech Republic.

The miner said in an update for the third quarter that additional roast optimisation test work had been completed and sustained improved recoveries meant lithium carbonate production was predicted to increase to 22,500 tonnes per annum (tpa) from 20,800 tpa previously.

WATCH: European Metals secures key permits as Cinovec project advances

The raised production forecast also meant that projected cash margins would be around 10%, with the company adding that the preparation of 2 tonnes of lithium concentrate via magnetic separation for lithium carbonate pilot plant trials was almost complete.

EMH also said in the update that work had commenced on an update of the preliminary feasibility study to model the production of higher value lithium hydroxide due to its increasing use in lithium ion batteries, with permits granted for geotechnical drilling at Cinovec.

The company had also received resource drilling permits for a definitive feasibility study, with the first 4 geotechnical drill holes at the proposed site of the mine portal completed.

Testing of a revised lithium hydroxide product flowsheet at Dorfner Anzaplan in Germany had also commenced on schedule.

In a separate announcement, the firm said it had used A$1.1mln in net cash in the third quarter, with its cash and cash equivalents at the end of the period at A$1.1mln.

EMH also estimated that total estimated cash outflows for the next quarter would total A$863,000.

Shares were up 2.9% at 26p.

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Wed, 31 Oct 2018 08:55:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208213/european-metals-shares-lifted-as-it-updates-on-cinovec-project-208213.html
<![CDATA[RNS press release - DFS Level Drilling Permits Granted - LiHO Testwork ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20181001070003_13810006/ Mon, 01 Oct 2018 16:00:03 +1000 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20181001070003_13810006/ <![CDATA[Media files - European Metals secures key permits as Cinovec project advances ]]> https://www.proactiveinvestors.com.au/companies/stocktube/10663/european-metals-secures-key-permits-as-cinovec-project-advances-10663.html Mon, 01 Oct 2018 09:31:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/10663/european-metals-secures-key-permits-as-cinovec-project-advances-10663.html <![CDATA[News - European Metals secures permits for further drilling on Europe’s largest lithium deposit ]]> https://www.proactiveinvestors.com.au/companies/news/206051/european-metals-secures-permits-for-further-drilling-on-europes-largest-lithium-deposit-206051.html European Metals Holdings LTD (LON:EMH) has secured permits to drill 13 new holes at the Cinovec project in the Czech Republic as part of an ongoing definitive feasibility study.

The drilling is aimed at upgrading a sufficient portion of the existing indicated resource to a measured resource in order to cover the first two years of the scheduled mining plan. 

WATCH: European Metals Holdings 'back to business as usual' with work on updated PFS

Meanwhile, testwork at Dorfner Anzaplan in Germany has commenced on schedule, with the aim of proving up a flowsheet for the production of lithium hydroxide. 

"It is very pleasing to receive permission from the relevant Czech authorities to begin our DFS drilling programme,” said managing director Keith Coughlan.

“The timing allows us to begin the programme ahead of the winter season and provide an upgrade to the existing resource at Cinovec as part of the DFS.”

As it stands, Cinovec hosts a globally significant hard rock lithium deposit with a total indicated resource of 348mln tonnes grading 0.45% Li2O and 0.04% tin, with an additional inferred resource of 309mln tonnes grading 0.39% Li2O and 0.04% tin.

This makes Cinovec the largest lithium deposit in Europe, the fourth largest non-brine deposit in the world and a globally significant tin resource.

 

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Mon, 01 Oct 2018 07:39:00 +1000 https://www.proactiveinvestors.com.au/companies/news/206051/european-metals-secures-permits-for-further-drilling-on-europes-largest-lithium-deposit-206051.html
<![CDATA[RNS press release - Annual Financial Report ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20180928070001_13807874/ Fri, 28 Sep 2018 16:00:01 +1000 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20180928070001_13807874/ <![CDATA[News - European Metals confident of improved recoveries in 2018/19 ]]> https://www.proactiveinvestors.com.au/companies/news/205937/european-metals-confident-of-improved-recoveries-in-201819-205937.html European Metals Holdings Limited (LON:EMH) said it had seen continued improvement to its lithium flowsheet over the last year and was confident it would improve recoveries in the year ahead.

The company said the preliminary feasibility study for the Cinovec lithium and tin project in the Czech Republic was ongoing. This study will model the production of higher value lithium hydroxide, the use of which is increasing in lithium-ion batteries. The study will take two months to complete.

READ: European Metals Holdings updated preliminary feasibility study should be ready in two months

“With the improved recoveries developed over the year, the project continues to improve and highlight why it is such an exciting development story in the heartland of the electric vehicle revolution,” the company said in its annual report statement on Friday.

European Metals also said it was supporting an initiative which will see battery and vehicle manufacturing taking place in the Czech Republic. It said that with car manufacturing accounting for roughly 9% of the Czech Republic’s GDP, it was an “obvious route to follow” and that it looks forward to further developments in this area. 

The company added that the manufacture of large scale stationary storage systems in the Czech Republic is also an emerging area of interest.

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Fri, 28 Sep 2018 07:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205937/european-metals-confident-of-improved-recoveries-in-201819-205937.html
<![CDATA[Media files - European Metals Holdings 'back to business as usual' with work on updated PFS ]]> https://www.proactiveinvestors.com.au/companies/stocktube/10344/european-metals-holdings-back-to-business-as-usual-with-work-on-updated-pfs-10344.html Wed, 05 Sep 2018 12:46:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/10344/european-metals-holdings-back-to-business-as-usual-with-work-on-updated-pfs-10344.html <![CDATA[RNS press release - Cinovec Project Update - Significant Advancements ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20180904070002_13777367/ Tue, 04 Sep 2018 16:00:02 +1000 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20180904070002_13777367/ <![CDATA[News - European Metals Holdings updated preliminary feasibility study should be ready in two months ]]> https://www.proactiveinvestors.com.au/companies/news/204095/european-metals-holdings-updated-preliminary-feasibility-study-should-be-ready-in-two-months-204095.html European Metals Holdings Limited (LON:EMH) has commenced work on an update of the preliminary feasibility study for the Cinovec lithium and tin project in the Czech Republic.

This study will model the production of higher value lithium hydroxide, the use of which is increasing in lithium-ion batteries. The study will take two months to complete.

WATCH: European Metals Holdings to formally start DFS in coming months

Meanwhile, leach recoveries of between 94% and 95% have been replicated recently in laboratory testwork in Germany.

The company will also commence geotechnical drilling for the portal and decline positions of the planned underground operation within two weeks. Initially, four holes will be drilled at the site with the results from the drilling being used to finalise the preliminary design of the box cut and initial decline.

The pre-feasibility study general arrangement designs for the portal entries, the mining infrastructure and the milling plant have been updated over recent weeks to provide a more comprehensive design to be submitted as part of the Environmental Impact Assessment (EIA) for the project. 

"The move to modelling the production of lithium hydroxide is being undertaken due to the increased use of this product in Europe and the higher revenues associated with this,” said European Metals managing director Keith Coughlan.

“Czech and broader European battery manufacturers are moving towards the production of ever more efficient batteries and with our vision of supplying to the European market we need to keep in step with the market."

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Tue, 04 Sep 2018 07:45:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204095/european-metals-holdings-updated-preliminary-feasibility-study-should-be-ready-in-two-months-204095.html
<![CDATA[Media files - European Metals Holdings to formally start DFS in coming months ]]> https://www.proactiveinvestors.com.au/companies/stocktube/10057/european-metals-holdings-to-formally-start-dfs-in-coming-months-10057.html Tue, 07 Aug 2018 10:52:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/10057/european-metals-holdings-to-formally-start-dfs-in-coming-months-10057.html <![CDATA[RNS press release - Quarterly Activities Report ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20180731070001_13736800/ Tue, 31 Jul 2018 16:00:01 +1000 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20180731070001_13736800/ <![CDATA[News - Quarterly results show European Metals now modelling for Cinovec production at 22,500 tonnes of lithium carbonate ]]> https://www.proactiveinvestors.com.au/companies/news/201898/quarterly-results-show-european-metals-now-modelling-for-cinovec-production-at-22500-tonnes-of-lithium-carbonate-201898.html Tue, 31 Jul 2018 08:23:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201898/quarterly-results-show-european-metals-now-modelling-for-cinovec-production-at-22500-tonnes-of-lithium-carbonate-201898.html <![CDATA[News - European Metals gets boost from metallurgy tests at Cinovec ]]> https://www.proactiveinvestors.com.au/companies/news/201066/european-metals-gets-boost-from-metallurgy-tests-at-cinovec-201066.html European Metals Holdings Limited (LON:EMH) has expects to produce more metal in the early stages of its flagship Cinovec lithium/tin project in Czech Republic after successful metallurgical test work.

Roast optimisation led to improved recoveries and an increase in lithium carbonate production to 22,500tpa.

READ: European Metals begins beneficiation of Cinovec bulk ore sample

The miner said all recent roast/leach tests reliably achieved lithium extractions in the region of 94%, which would result in an approximate 10% increase in [EBITDA] margins for the project.

A modest increase in roasting temperature significantly increased lithium recovery, it said.

Cinovec has an indicated resource of 348mln tonnes grading 0.45% Li2O and 0.04% tin, supported by an inferred resource of 309mln tonnes at 0.39% Li2O and 0.04% tin.

That adds up to a combined 7mln tonnes Lithium Carbonate Equivalent and 263,000 tonnes of tin.

What’s more, there’s also an initial probable ore reserve of 34.5mln tonnes at 0.65% Li2O and 0.09% tin, which should cover the first 20 years mining at an output of 20,800 tonnes per year of lithium carbonate.

This makes Cinovec among the largest lithiums deposit in Europe, the fourth largest non-brine deposit in the world and a globally significant tin resource.

Economic case for development looks favourable

A preliminary feasibility study demonstrated the economic viability of the project and specifically that it offers a post-tax NPV of US$540 mln and an internal rate of return of 21%.

Prime location should support development decision

Cinovec is situated just across the border from Southern Germany, a region where much of Europe’s car manufacture takes place.

As the auto industry accelerates its conversion to electric cars, spurred on by the Volkswagen emissions scandal, a secure and local source of lithium is likely to become crucial. Furthermore, as the deposit lies in an active mining region, it has strong community support. 

Kiran Morzaria, chief executive of Cadence Minerals PLC (LON:KNDC), which owns approximately 20% of the equity in European Metals, said: "The strategic importance of the Cinovec lithium project as a future supply hub for the European EV industry cannot be overstated."

He added: "That the optimisation tests conducted by European Metals are already showing a significant improvement in lithium recovery and increased cash margins is not only great news for the EV industry but could in future help to meet any lithium supply shortfall if, as we expect, there is a sustained increase in demand."

At 22.75p per share, European Metals is worth £32.9mln

 

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Wed, 18 Jul 2018 12:34:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201066/european-metals-gets-boost-from-metallurgy-tests-at-cinovec-201066.html