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European Metals Holdings Ltd.
Summary
| Project: | Cinovec | |
|---|---|---|
| Deposit: | Cinovec | |
| Location: | Czech Republic | |
| Commodities: | Tin-Lithium-Tungsten-Niobium-Tantalum | |
| Date: | 4/19/2017 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 19-4-2017: European Metals Holdings Ltd. announces a Pre-Feasibility Study report for its Cinovec deposit at the Cinovec project. JV - Pre-Feasibility study results incl. post-tax NPV of $540M, IRR of 21%, LOM of 22yrs. European Metals Holdings Limited (“ | |
| Resources: | (Resource, I+I): 656.5Mt @ 0.4% Li2O at project | |
| 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 successful completion of the Preliminary Feasibility Study (“PFS”) for development of the Cinovec Lithium and Tin Project, which highlights that Cinovec could be a low cost lithium carbonate producer. The completion of the PFS follows a comprehensive metallurgical testwork campaign managed by European Metals. The PFS was undertaken by independent consultants who are specialists in the required areas of work. The study is based upon a mine life of 21 years processing on average 1.7 Mtpa of ore, producing 20,800 tpa of battery grade lithium carbonate via a sodium sulphate roast. European Metals Managing Director Keith Coughlan said, “I am very pleased to report the headline numbers for the Cinovec Preliminary Feasibility Study. The study highlights the potential for Cinovec to be the world’s lowest cost hard rock producer of lithium carbonate due to its unique geological and metallurgical characteristics. These results, coupled with the macro outlook for the lithium industry, particularly in Europe, highlight the attractiveness of the project. As a result, we will move directly into a definitive feasibility study to accelerate the project towards development. Cinovec is strategically located in central Europe in close proximity to the majority of the continent’s vehicle manufacturers. With increasing demand for Electric Vehicles, and Cinovec’s status as the largest and most advanced European lithium project, the project is very well placed to supply the European lithium market for many decades.” | |
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