European Metals Hldg - Partnership Agreement with European Union Body
For immediate release
PARTNERSHIP AGREEMENT WITH EUROPEAN UNION BODY
The Project, a joint venture between European Metals and CEZ, has been recently funded to the amount of approximately
o Sourcing construction finance;
o Securing grant funding; and
o Assisting in offtake introductions and negotiations.
EIT InnoEnergy leads the the
Last week the EU approved the Green Stimulus Plan, agreeing to invest more than
Based on Cinovec's economics, long mine life and proximity to the key manufacturing centers in
"Cinovec is the largest hard rock lithium resource in
EIT InnoEnergy is a fully-commercial company, supported by the
The objective of EBA250 is to build a strong pan-European battery industry that is able to help
· Securing construction finance for Cinovec, potentially up to the full amount of the capex and working capital required to put the mine and lithium chemical plant into production;
· Securing grant funding from applicable EU, national or regional grant schemes, for Project optimisation studies and economic development objectives, for development of green/sustainable energy projects (for example, through the
· Developing relationships with EIT InnoEnergy's partner offtakers, with the intention of facilitating and advising on the negotiation of offtake agreements, potentially including offtake pre-financing; and
· Providing general support including education, communication and societal and environmental acceptance.
The Agreement is non-exclusive and EIT InnoEnergy will work together with Geomet's other advisers in finance, environmental and social advisory.
BACKGROUND INFORMATION ON EIT INNOENERGY AND EBA250
EIT InnoEnergy is the innovation engine for sustainable energy across
To view the full EMH press release showing the structure of interaction of EBA250, EIT InnoEnergy and the Business Investment Platform, please go to: https://www.europeanmet.com/announcements/.
The full list of industrial and financial partners of the EBA250 may be found at: https://www.eba250.com/about-eba250/network/
For more about EIT InnoEnergy, please visit https://www.innoenergy.com/
For more about the
A copy of this announcement can be found on our website, along with further information on this update or the Company generally, at website at www.europeanmet.com.
Tel: +61 (0) 419 996 333
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Email: [email protected]
Tel: +44 (0) 20 7628 3396
Email: [email protected]
Tel: +44 (0) 20 7186 9950
Blytheweigh (Financial PR)
Tel: +44 (0) 20 7138 3222
The information contained within this announcement is considered to be inside information, for the purposes of Article 7 of EU Regulation 596/2014, prior to its release. The person who authorised for the release of this announcement on behalf of the Company was
Information in this release that relates to exploration results is based on information compiled by Dr
The information in this release that relates to Mineral Resources and Exploration Targets has been compiled by Mr Lynn Widenbar. Mr Widenbar, who is a Member of the
BACKGROUND INFORMATION ON CINOVEC
Cinovec is the largest hard rock lithium deposit in
A Preliminary Feasibilty Study was completed in
Geomet s.r.o. controls the mineral exploration licenses awarded by the Czech State over the
BACKGROUND INFORMATION ON CEZ
Headquartered in the
The largest shareholder of its parent company, CEZ a.s., is the
As one of the leading Central European power companies, CEZ intends to develop several projects in areas of energy storage and battery manufacturing in the
CEZ is also a market leader for E-mobility in the region and has installed and operates a network of EV charging stations throughout
CAUTION REGARDING FORWARD LOOKING STATEMENTS
Information included in this release constitutes forward-looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "continue", and "guidance", or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.
Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.
Forward looking statements are based on the Company and its management's good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company's business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company's business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company's control.
Although the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.
LITHIUM CLASSIFICATION AND CONVERSION FACTORS
Lithium grades are normally presented in percentages or parts per million (ppm). Grades of deposits are also expressed as lithium compounds in percentages, for example as a percent lithium oxide (Li2O) content or percent lithium carbonate (Li2CO3) content.
Lithium carbonate equivalent ("LCE") is the industry standard terminology for, and is equivalent to, Li2CO3. Use of LCE is to provide data comparable with industry reports and is the total equivalent amount of lithium carbonate, assuming the lithium content in the deposit is converted to lithium carbonate, using the conversion rates in the table included below to get an equivalent Li2CO3 value in percent. Use of LCE assumes 100% recovery and no process losses in the extraction of Li2CO3 from the deposit.
Lithium resources and reserves are usually presented in tonnes of LCE or Li.
The standard conversion factors are set out in the table below:
Table: Conversion Factors for Lithium Compounds and Minerals
Convert to Li
Convert to Li2O
Convert to Li2CO3
This information is provided by RNS, the news service of the
Quick facts: European Metals Holdings
Market Cap: £39.72 m
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