European Metals Managing Director, Keith Coughlan said “We are delighted to welcome Neil Meadows to the team. Executives of Neil’s quality and experience are not easy to find and we look forward to his guidance as we move into the development of the Cinovec Project. Neil’s experience with projects of similar size and complexity will augment our existing team, both in Australia and the Czech Republic. Neil is an accomplished and highly regarded senior executive with a successful background in leadership in the Australian resources sector, managing multi-disciplined teams and has gained recognition for his work in improving operational and business outcomes for major resources enterprises.”
European Metals Holdings Limited LON:EMH is very pleased to announce the appointment of Neil Meadows as Chief Operating Officer (non-board). Neil has previously held the position of Chief Operating Officer at Karara Mining Ltd, Managing Director of IMX Resources Limited and worked with the Australian Premium Iron Ore Joint Venture on mine infrastructure. Prior to that, he was the Chief Operating Officer of Queensland Nickel Pty Ltd, subsequent to the sale of the business by BHP and was previously the General Manager of the Yabulu Refinery site for BHP. Prior to that he was the General Manager at the Murrin Operation for Minara Resources Ltd, a position he held for almost five years.
Neil holds a Masters of Applied Science in Metallurgy from the South Australian Institute of Technology, and was the recipient of the Mine Manager of the Year Award through the Sydney Mining Club in 2007. He was the Australasian Institute of Mining and Metallurgy North Queensland Resources Industry Professional of the Year in 2009. His technical qualifications are supported by a Graduate Diploma in Business Administration from Charles Sturt University, along with a Diploma of the Australian Institute of Company Directors.
BACKGROUND INFORMATION ON CINOVEC
PROJECT OVERVIEW
Cinovec Lithium/Tin Project
European Metals, through its wholly owned Subsidiary, Geomet s.r.o., controls the mineral exploration licenses awarded by the Czech State over the Cinovec Lithium/Tin Project. Cinovec hosts a globally significant hard rock lithium deposit with a total Indicated Mineral Resource of 348Mt @ 0.45% Li(2) O and 0.04% Sn and an Inferred Mineral Resource of 309Mt @ 0.39% Li(2) O and 0.04% Sn containing a combined 7.0 million tonnes Lithium Carbonate Equivalent and 263kt of tin. An initial Probable Ore Reserve of 34.5Mt @ 0.65% Li2O and 0.09% Sn has been declared to cover the first 20 years mining at an output of 20,800tpa of lithium carbonate.
This makes Cinovec the largest lithium deposit in Europe, the fourth largest non-brine deposit in the world and a globally significant tin resource.
The deposit has previously had over 400,000 tonnes of ore mined as a trial sub-level open stope underground mining operation.
EMH has completed a Preliminary Feasibility Study, conducted by specialist independent consultants, which indicated a return post tax NPV of USD540m and an IRR of 21%. It confirmed the deposit is be amenable to bulk underground mining. Metallurgical test work has produced both battery grade lithium carbonate and high-grade tin concentrate at excellent recoveries. Cinovec is centrally located for European end-users and is well serviced by infrastructure, with a sealed road adjacent to the deposit, rail lines located 5 km north and 8 km south of the deposit and an active 22 kV transmission line running to the historic mine. As the deposit lies in an active mining region, it has strong community support.
The economic viability of Cinovec has been enhanced by the recent strong increase in demand for lithium globally, and within Europe specifically.
