European Metals Holdings Ltd - Czechia-focused mineral exploration and development company - Says delivery of definitive feasibility study for the Cinovec lithium project in the Czech Republic is now scheduled for the first quarter of 2024. Says approval granted for timetable extension so Geomet and project study team, DRA Global and Bara Consulting, can complete capital and operating cost estimation, and project implementation scheduling. Says process of obtaining sufficient and diverse proposals, from ‘numerous’ external suppliers and contractors, will take longer than originally planned. Company ‘believes it is prudent to allow the necessary time to complete the study to the highest standard’. Says it does not expect extension to impact the overall project timeline, and that permitting is ‘already well underway’. Cadence Minerals PLC, which holds approximately 5.3% of the equity in European Metals, is ‘pleased to note’ the announcement.

European Metals current stock price: 20.25 pence, down 20%

12-month change: down 45%

Cadence Minerals current stock price: 5.15p, down 1.9%

12-month change: down 51%

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