Proactiveinvestors Australia European Metals Holdings https://www.proactiveinvestors.com.au Proactiveinvestors Australia European Metals Holdings RSS feed en Thu, 21 Mar 2019 04:37:45 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![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
<![CDATA[RNS press release - Production Modelled to Increase to 22,500 TPA LCE ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20180711070003_13712961/ Wed, 11 Jul 2018 16:00:03 +1000 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20180711070003_13712961/ <![CDATA[News - European Metals says Cinovec production modelled to increase to 22,500 tpa of lithium carbonate ]]> https://www.proactiveinvestors.com.au/companies/news/200554/european-metals-says-cinovec-production-modelled-to-increase-to-22500-tpa-of-lithium-carbonate-200554.html European Metals Holdings (LON:EMH) has reported that it has completed roast optimisation testwork and that improved recoveries have resulted in modelled lithium carbonate production from the Cinovec Lithium-Tin Project increasing to 22,500 tpa.

The AIM-listed miner said all recent roast/leach tests have reliably achieved lithium extractions in the region of 94% recovery. 

READ: European Metals begins beneficiation of Cinovec bulk ore sample

The company added that the significance of these results is that a 7% increase in lithium recovery is predicted over that used in the Preliminary Feasibility Study (PFS) completed last year, which in turn would lead to an increase to 22,500tpa of lithium carbonate production from the project.

European Metals said this modelled increased production would result in approximately a 10% increase in EBITDA margins for the project.

Keith Coughlan, MD of European Metals, said: "Proven increased lithium production through increased recoveries will result in an increased cash margin for the project. Our PFS indicated the potential of Cinovec to be a bottom half cost producer and an improvement on that will indeed be significant.”

He added: ”The work that we have been undertaking during this period has been, and will continue to be, aimed at de-risking the flowsheet and elimination of flowsheet options prior to the commencement of what will then be an efficient Definitive Feasibility Study engineering phase.”

Kiran Morzaria, CEO of Cadence Minerals PLC (LON:KNDC) (OTC:KNDCY), which owns approximately 20% of the equity in European Metals Holding, commented: "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."

Shares in European Metal Holdings held steady at 22.75p; Cadence shares were unchanged at 0.22p.

 -- Adds Cadence comment; share prices --

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Wed, 11 Jul 2018 08:04:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200554/european-metals-says-cinovec-production-modelled-to-increase-to-22500-tpa-of-lithium-carbonate-200554.html
<![CDATA[RNS press release - Pilot Scale Cinovec Ore Beneficiation Commenced ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20180606070001_13668294/ Wed, 06 Jun 2018 16:00:01 +1000 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20180606070001_13668294/ <![CDATA[News - European Metals begins beneficiation of Cinovec bulk ore sample ]]> https://www.proactiveinvestors.com.au/companies/news/198332/european-metals-begins-beneficiation-of-cinovec-bulk-ore-sample-198332.html European Metals Holdings Limited (LON:EMH) said it has begun the beneficiation process and magnetic separation of a 15 tonne bulk sample of ore from its Cinovec Lithium/Tin project in the Czech Republic.

The AIM-listed miner said the process would produce a lithium rich concentrate which would provide pilot plant feed for planned downstream processing through the roast, leach, purification and final product precipitation flowsheet that has been developed.

READ: European Metals ‘pleased’ with continued progress at its Cinovec Lithium project

Beneficiation is any process in mining that improves (benefits) the economic value of ore by removing invaluable material and increasing the product grade.

The process is intended to produce up to 200kg of battery grade lithium carbonate from the material for marketing and user acceptance purposes.

The group added that the process would also provide around 12 tonnes of non-magnetic material that would be used to confirm the flowsheet for the recovery of tin and tungsten values which were “unique and important by-products” from the Cinovec ore body.

The programme of work is being carried out by UVR-FIA GmbH in Freiberg, Germany, who are specialists in beneficiation and magnetic separation.

Keith Coughlan, managing director of European Metals, said: "The commencement of the processing of the bulk sample to provide concentrate feed for the lithium carbonate pilot plant is a significant step for European Metals. The pilot plant operation is not only a significant activity of the feasibility study, it also allows the production of lithium carbonate for end-user trials and associated off-take arrangements.

He added: “Our on-going roast optimisation testwork is almost complete and will form the basis of the upcoming lock-cycle pilot testwork. The optimisation work continues to improve recoveries and reduce input costs and I look forward to updating the market in the near term on these developments and their potential positive impacts on the Cinovec Project."

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Wed, 06 Jun 2018 07:23:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198332/european-metals-begins-beneficiation-of-cinovec-bulk-ore-sample-198332.html
<![CDATA[RNS press release - Quarterly Cashflow Report ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20180430104713_13623661/ Mon, 30 Apr 2018 19:47:13 +1000 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20180430104713_13623661/ <![CDATA[RNS press release - Quarterly Activities Report ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20180430104636_13623656/ Mon, 30 Apr 2018 19:46:36 +1000 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20180430104636_13623656/ <![CDATA[News - European Metals ‘pleased’ with continued progress at its Cinovec Lithium project ]]> https://www.proactiveinvestors.com.au/companies/news/196054/european-metals-pleased-with-continued-progress-at-its-cinovec-lithium-project-196054.html European Metals Holdings Limited (LON:EMH) has said it is ‘pleased’ with continued progress at its Cinovec Lithium/Tin project in Czech Republic during the three month period ending March 2018.

In a quarterly activities report, the AIM-listed firm noted that recent metallurgical testwork showed that modest increase in roasting temperature significantly increases lithium recovery, with lithium leach recoveries of 94-95% achieved from the recent laboratory scale roasting and water leaching tests.

READ: European Metals appoints Neil Meadows as chief operating officer

European Metals said that substituting lime with a more cost-effective limestone did not reduce lithium recovery.

The company concluded: “This finding will support the achievement of significant cost savings in this part of the flowsheet.”

European Metals, through its wholly owned Subsidiary, Geomet s.r.o., controls the mineral exploration licenses awarded by the Czech State over the Cinovec Lithium/Tin Project.

Cinovec - the largest lithium deposit in Europe, the fourth largest non-brine deposit in the world and a globally significant tin resource - has previously had over 400,000 tonnes of ore mined as a trial sub-level open stope underground mining operation.

The company said that the economic viability of Cinovec has been enhanced by the recent strong increase in demand for lithium globally, and within Europe specifically.

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Mon, 30 Apr 2018 12:29:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196054/european-metals-pleased-with-continued-progress-at-its-cinovec-lithium-project-196054.html
<![CDATA[RNS press release - Appointment of Chief Operating Officer ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20180411070001_13599477/ Wed, 11 Apr 2018 16:00:01 +1000 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20180411070001_13599477/ <![CDATA[News - European Metals appoints Neil Meadows as chief operating officer ]]> https://www.proactiveinvestors.com.au/companies/news/194704/european-metals-appoints-neil-meadows-as-chief-operating-officer-194704.html European Metals Holdings Limited (EMH) (LON:EMH) has named Neil Meadows as its chief operating officer, a non-board appointment.

The AIM-listed firm said Meadows has previously held the position of chief operating officer at Karara Mining Ltd, managing director of IMX Resources Limited and worked with the Australian Premium Iron Ore Joint Venture on mine infrastructure.

READ: European Metals eyes costs boost from higher lithium recoveries

EMH noted that Meadows holds a Masters of Applied Science in Metallurgy from the South Australian Institute of Technology and was the recipient of the Mine Manager of the Year Award through the Sidney Mining Club in 2007.

Keith Coughlan, managing director of European Metals, said: “Executives of Neil’s quality and experience are not easy to find and we look forward to his guidance as we move into the development of the Cinovec Project.”

He added: “Neil’s experience with projects of similar size and complexity will augment our existing team, both in Australia and the Czech Republic.”

European Metals, through its wholly owned Subsidiary, Geomet s.r.o., controls the mineral exploration licenses awarded by the Czech State over the Cinovec Lithium/Tin Project.

Cinovec - the largest lithium deposit in Europe, the fourth largest non-brine deposit in the world and a globally significant tin resource - has previously had over 400,000 tonnes of ore mined as a trial sub-level open stope underground mining operation.

The group noted that the economic viability of Cinovec has been enhanced by the recent strong increase in demand for lithium globally, and within Europe specifically.

 

 

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Wed, 11 Apr 2018 07:27:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194704/european-metals-appoints-neil-meadows-as-chief-operating-officer-194704.html
<![CDATA[RNS press release - Lithium Recoveries Improved to 95% ]]> https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20180328070002_13583981/ Wed, 28 Mar 2018 17:00:02 +1100 https://www.proactiveinvestors.com.au/companies/rns/15239/LSE20180328070002_13583981/ <![CDATA[News - European Metals eyes costs boost from higher lithium recoveries ]]> https://www.proactiveinvestors.com.au/companies/news/193945/european-metals-eyes-costs-boost-from-higher-lithium-recoveries-193945.html Lab testing has indicated potentially higher recoveries of lithium than previously predicted at the Cinovec deposit in the Czech Republic, according to European Metals Holdings Limited (LON:EMH).

Roasting the ore at a higher temperature increased lithium recovered from the leach process to 94-95%.

WATCH: European Metals Holdings sees very good results from latest Cinovec drilling

Using the cheaper alternative of limestone rather than lime also had no impact on lithium recovery, the tests found.

Both findings potentially mean significant cost savings in processing, EMH added in a statement.

Keith Coughlan, managing director, said the work was part of the optimisation process following on from last year’s preliminary feasibility study.

The PFS indicated Cinovec will be a bottom half cost curve producer, but higher recoveries and lower costs will only enhance its economics, he said.

Coughlan expects the small-scale roast/leach testwork to finish soon with the next phase to be locked cycle, pilot scale and equipment selection testing for the Definitive Feasibility Study.

EMH owns 100% of Cinovec, which has an initial Probable Ore Reserve of 34.5Mt at 0.65% Li2O or enough for at least 20 years mining at an output of 20,800tpa of lithium carbonate.

That resource makes Cinovec the largest lithium deposit in Europe, the fourth largest non-brine deposit in the world while it also has significant tin resources.

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Wed, 28 Mar 2018 08:43:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193945/european-metals-eyes-costs-boost-from-higher-lithium-recoveries-193945.html