European Metals Holdings Ltd (EMH) is making major strides in the development of its lithium project, and the news has sent their stock prices soaring. EMH, a UK-based mineral exploration and development company, is focused on the exploration and development of the Cinovec Lithium and Tin Project, located in the Czech Republic. The project is the largest known hard rock lithium deposit in Europe, and EMH is making great progress in its development. This news has caused a surge in EMH stock prices, with investors eager to capitalize on the potential of the project.
Major Strides in Lithium Project Development
European Metals Holdings Ltd has made major strides in the development of its Cinovec lithium project in the Czech Republic over the past month. The company purchased land for the lithium plant for US$43.96 million, appointed DRA Global to complete the Definitive Feasibility Study, and unveiled a new extraction method that reduces the steps involved in processing and cuts costs. Metallurgy tests on ore from the Cinovec lithium deposit have achieved more than 95% recoveries, and the project was classified as a strategic project for the Usti region by the EU. European Metals has also appointed lithium specialist Marc Rowley to lead the DFS team and has engaged Luthardt Investment GmbH to further progress the project. The company also started trading on the OTCQX Best Market and completed the issue of 10.3 million shares, raising A$14.4 million. The pre-feasibility study for the Cinovec lithium project increased its potential value by 75%, and lithium prices were up again the past month. Analysts at JPMorgan Cazenove have named Glencore PLC as their overall top pick for 2023 in a European Metals & Mining sector review, and demand for lithium is expected to outstrip metal production for at least the next five years.
Land Purchase for Lithium Plant
European Metals Holdings Ltd has made significant progress in the development of its Cinovec lithium project in the Czech Republic, with the purchase of the land for the lithium plant for US$43.96 million. This purchase is a major step forward for the project, and will allow the company to move forward with the Definitive Feasibility Study (DFS). Metallurgy tests on ore from the Cinovec lithium deposit have achieved more than 95% recoveries, and the project has been classified as a strategic project for the Usti region by the EU. This purchase is a major milestone for European Metals, and will allow the company to move forward with the project and take advantage of the increased demand for lithium.
In addition to the land purchase, European Metals has also unveiled a new extraction method at Cinovec which reduces the steps involved in processing and cuts costs. The company has also appointed lithium specialist Marc Rowley to lead the DFS team, and has engaged Luthardt Investment GmbH, a Berlin-based consultancy specializing in energy production and government relations. European Metals has also completed the issue of 10.3 million shares, raising A$14.4 million, and will start trading on the OTCQX Best Market. With lithium prices up again the past month, and demand for lithium expected to outstrip metal production for at least the next five years, this is an exciting time for European Metals as they move forward with the Cinovec lithium project.
Metallurgy Tests and Strategic Classification by the EU
The European Union (EU) has classified the Cinovec lithium project as a strategic project for the Usti region, recognizing its potential to create jobs and economic growth. Metallurgy tests on ore from the Cinovec deposit have achieved more than 95% recoveries, which is a positive sign for the project’s viability. European Metals Holdings Ltd has also developed a new extraction method which reduces the steps involved in processing and cuts costs. This new method is a crucial step in the development of the Cinovec lithium project, and the company has appointed lithium specialist Marc Rowley and Berlin-based consultancy Luthardt Investment GmbH to lead the Definitive Feasibility Study. The company has also raised A$14.4 million through the issue of 10.3 million shares, and the pre-feasibility study update has increased the potential value of the project by 75%. With lithium prices expected to remain high for the next five years, the EU’s strategic classification of the Cinovec lithium project is a sign of the project’s potential to create jobs and economic growth in the region.
European Metals Holdings Ltd has made major strides in lithium project development, and this has been reflected in the surge of their stock prices. This is a clear indication that the company is on the right track to becoming one of the most successful lithium producers in the world. With the company’s commitment to innovation and sustainability, European Metals Holdings Ltd is poised to lead the way in the lithium industry for years to come.