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.
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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.