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European Metals Holdings Ltd.
Summary
| Project: | Cinovec | |
|---|---|---|
| Deposit: | Cinovec | |
| Location: | Czech Republic | |
| Commodities: | Lithium-Tin-Tungsten | |
| Date: | 6/17/2019 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 17-6-2019: European Metals Holdings Ltd. announces a Pre-Feasibility Study report for its Cinovec deposit at the Cinovec project. PFS update results incl. post-tax NPV (8%) of $1.108B, IRR of 28.8%. European Metals Holdings Limited (“European Metals” or “ | |
| Resources: | (Reserve, Prob.): 34.5Mt @ 0.65% Li2O, 0.09% Sn at Cinovec | |
| CP/QP: | [Resources]: Lynn Widenbar (Widenbar and Associates Pty Ltd.) | |
| ABSTRACT: | European Metals Holdings Limited (“European Metals” or “the Company”) is pleased to announce the results from the successful update of the process flowsheet previously developed to enable the production of lithium hydroxide (LiOH.H2O). This work has been completed in conjunction with test-work confirming the production of battery grade lithium hydroxide from Cinovec ore. These results significantly enhance the forecast economics of the Cinovec Project. European Metals Managing Director Keith Coughlan said, “I am very pleased to report to shareholders on the completion of this update to our 2017 Preliminary Feasibility Study for the Cinovec project which adds significantly to the already robust forecast economics for the project. Since demonstrating that battery grade lithium hydroxide can be produced from zinnwaldite mineralisation we have worked with Hatch to update the flowsheet and engineering required to adapt our lithium carbonate producing flowsheet to one that converts battery grade lithium carbonate into lithium hydroxide. We have now confirmed the ability with our resource, which is the largest lithium resource in Europe, to produce either or both products in line with market requirements once in production. Cinovec is strategically located in central Europe in close proximity to the continent’s vehicle manufacturers. With increasing demand for Electric Vehicles and the expected demands of grid storage capacity, the project is very well placed to supply the European lithium market for many decades. | |
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