The Cinovec project lies just over the border from Germany's major car manufacturing hub
European Metals Holdings Ltd ()(ASX:EMH) ended the year to 31 December 2019 with just US$81,000 cash in the bank. The company subsequently raised £350,000 in January in a placing.
The money will be used to continue with development of the Cinovec lithium project in Czech Republic, and to allow for completion of the proposed investment into Cinovec by the Czech parastatal CEZ Group.
Total losses for the year amounted to US$1.7mln.
CEZ is planning to inject over £29mln into the Cinovec project, once the transaction completes.
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...
In exchange for publishing services rendered by the Company on behalf of European Metals Holdings named herein, including the promotion by the Company of European Metals Holdings in any Content on the Site, the...
FOR OUR FULL DISCLAIMER CLICK HERE