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Owns Europe's largest lithium deposit
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Mined and refined battery-grade metal
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Preparing a definitive feasibility study
What the company does
The companys blurb describes European Metals Holdings PLC (LON:EMH) (ASX:EMH) as a UK and Australia-listed exploration business focused on developing a lithium and tin project in the Czech Republic.
But this doesnt quite capture the potential of the business through its ownership of the Cinovec Project, host to the largest lithium resource in Europe and one of the biggest untapped tin deposits in the world.
In other words, EM has a tiger by the tail.
Cinovec is around 60 miles north-west of Prague on the border with Germany.
So, it has ready access to end-users such as carmakers and companies building the latest generation of electric vehicles.
Volkswagen's decision to locate its first electric vehicle plant at Zwickau, 90km from Cinovec suggests it is in the right place.
Zwickau is due to come on stream in November. VW has also announced a 16Gw battery cell factory will be built in conjunction with green energy group Northvolt.
Cinovec is host to an inferred and indicated resource of almost 700mln tonnes at a cut-off of 0.195% lithium and 0.04% tin.
Total indicated resources are 372.4mln tonnes grading 0.45% Li2O and 0.04% tin.
A preliminary economic assessment (PEA) suggests an operation on the site of the historic mine churning out 22,500 tonnes a year of battery-grade lithium would cost US$393mln.
Lithium hydroxide is among the products EME intends to produce.
European Metals recently extended its exploration licence at Cinovec, which is in the Czech Republic, until the end of 2020.
Talks are also underway over a potential partnership with CEZ Group (CEZ), the Czech Government-majority owned powerRead More – Source
