European Metals Holdings Ltd (ASX:EMH) Managing director Keith Coughlan, talks to DirectorsTalk about the significant reduction of pre-production capital costs, what the new numbers actually mean, other facets that were alluded to in the announcement, recent increase in the tin price and how this affects the economics of the project and news flow expected over the coming months.
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. Within this resource lies one of the largest undeveloped tin deposits in the world, with total Indicated Mineral Resource of 15.7Mt @ 0.26% Sn and an Inferred Mineral Resources of 59.7 Mt grading 0.21% Sn for a combined total of 178kt of contained tin. The Mineral Resource Estimates have been previously released on 18 May 2016. The deposit has previously had over 400,000 tonnes of ore mined as a trial sub-level open stope underground mining operation.
