European Metals Holdings Ltd (LON:EMH) MD Keith Coughlan talks to DirectorsTalk about the raising of A$ 3m. Keith explains why the money was raised from one existing shareholder and not from the market in general, whether the amount is enough for the PFS, what shareholders should expect in regards to news around the PFS and the significance of the increase in tin price.
European Metals Holdings Ltd owns 100% of the Cinovec lithium-tin deposit in the Czech Republic. Cinovec is an historic mine incorporating a significant undeveloped lithium-tin resource with by-product potential including tungsten, rubidium, scandium, niobium and tantalum and potash. Cinovec hosts a globally significant hard rock lithium deposit with a total Indicated Mineral Resource of 49.1Mt @ 0.43% Li2O and an Inferred Mineral Resource of 482Mt @ 0.43% Li2O containing a combined 5.7 million tonnes Lithium Carbonate Equivalent.
This makes Cinovec the largest lithium deposit in Europe and the fourth largest non-brine deposit in the world.