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

The new study will model the production of higher value lithium hydroxide

The Cinovec project is located on the doorstep of one of Europe's major car manufacturing hubs

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."

Quick facts: European Metals Holdings

Price: 15.199 GBX

Market: AIM
Market Cap: £23.51 m

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