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European Metals announces tie-in with KIC InnoEnergy

Cinovec is the largest hard rock lithium resource in Europe

European Metals Holdings -

European Metals Holdings Ltd (ASX:EMH) (LON:EMH) has announced that a "Value Added Services Agreement" with KIC InnoEnergy SE, the principal facilitator and organiser of the European Battery Alliance, has been entered into today by Geomet s.r.o. in respect of the Cinovec lithium project in the Czech Republic.

The aim is to sourcing construction finance, source grant funding, and assist in off-take introductions and negotiations.

EIT InnoEnergy leads the European Battery Alliance which was initiated by the European Commission in 2017 to create a competitive and sustainable battery cell manufacturing value chain in Europe.

Last week the EU approved the Green Stimulus Plan, agreeing to invest more than €500bn into a climate change plan including electric vehicles and renewable energy.

"European Metals and its development partner, CEZ, look forward to receiving support from EIT InnoEnergy and working together closely with their industrial and financial partners to deliver production at Cinovec, and contribute to a sustainable supply chain for a world-leading centre for EV development and manufacture in Europe,” European Metals chief Keith Coughlan said in a statement.

"Cinovec is the largest hard rock lithium resource in Europe and is strategically located to produce lithium in Europe for Europe.  The requirement for locally sourced raw materials for the e-mobility movement has become more apparent during COVID-19, and Cinovec is well-positioned in close proximity to Europe's manufactures. Over the coming months we look forward to commencing the DFS work programmes, and subsequent permitting and construction of Cinovec."

Quick facts: European Metals Holdings

Price: 16 GBX

AIM:EMH
Market: AIM
Market Cap: £25.04 m
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European Metals back drilling at Cinovec to build confidence ahead of debt...

European Metals Holdings (LON:EMH) Keith Coughlan updates Proactive on developments at their Cinovec lithium project in the Czech Republic. The company has begun resource drilling at the Cinovec Lithium-Tin Project, with a total of 19 resource drill holes to be completed during the campaign...

1 day, 13 hours ago

2 min read