Shares in European Metals Holdings (ASX/LON:EMH) jumped on Monday in both Sydney and London after it said its Cinovec lithium project had been classified as strategic for the Czech Republic’s Usti region.
The nomination means the project will be given priority for grant funding from the Just Transition Fund (JTF), which supports European Union regions relying on fossil fuels and high-emission industries in their green transition.
Applications for grants through the JTF opened on November 14, 2022 and will close on December 31, 2023.
Cadence Minerals plc (LON:KDNC) provides mining services. The Company focuses on finding lithium and other technology minerals in new places, as well as offers extracting services. Cadence Minerals holds approximately 7.2% percent of the equity in European Metals Holdings.