European Metals Holdings Ltd - Czech Republic-focused mineral exploration and development - On December 19, announces sharp increase in the planned annual production of lithium chemicals from the Cinovec project in the Czech Republic, which according to the company hosts the largest lithium resource in Europe, and one of the largest undeveloped tin resources in the world. The planned uptick in output enables the project to benefit from ‘significant economies of scale’ which will be confirmed in the definitive feasibility study due for completion in mid-2025.
The run-of-mine production has been increased to 3.2 million tonnes per year from around 2.3 million tonnes. The planned production of lithium hydroxide monohydrate was increased by 42% to 41,658 tonnes per year from 29,385 tonnes.
Executive Chair Keith Coughlan says: ‘This significant increase in planned lithium output will lead to additional recognition of how important the Cinovec Project is and the role the Project will play in enabling the EU to reach its goals of lithium self-sufficiency by 2030.’
Current stock price: 7.50 pence each
12-month change: down 64%
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