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European Metals Holdings - Cinovec PMP Granted
European Metals Holdings - Cinovec PMP Granted.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \n \n RNS Number : 4679L\n Cadence Minerals PLC\n 30 April 2020\n \n \n \n \n Cadence Minerals Plc\n \n \n \n \n \n (\"Cadence Minerals\", \"Cadence\" or \"the Company\")\n \n \n \n \n \n European Metals (AIM: EMH) - Preliminary Mining Permit at Cinovec Granted.\n \n \n Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the update today from European Metals Holdings Limited (\"European Metals\" \"EMH\" or \"the Company\") that the Czech Ministry of the Environment has granted Geomet the Preliminary Mining Permit related to the Northwestern part of the Cinovec deposit.\n \n \n The permit has been issued for a period of 8 years. A Preliminary Mining Permit is a necessary legal pre-qualification before obtaining a Final Mining Permit and guarantees the company the priority right to apply for and obtain a Final Mining Area and a Final Mining Permit. The preliminary approval for the Northwestern part of the deposit covers an area of 1.27 km2 and, together with the existing Preliminary Mining Permits, now encompases the entire Cinovec ore reserve. This permit significantly strengthens Geomet's position as the only possible miner and paves the way for obtaining the remaining permits to start construction, mining, and processing activities.\n \n \n Cadence Minerals Holding in EMH\n \n \n Cadence holds approximately 16% percent of the equity in European Metals, which, through its wholly owned Subsidiary, Geomet s.r.o. (\"Geomet\"), controls the mineral exploration licenses awarded by the Czech State over Cinovec..\n \n \n The full release can be found at: https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/EMH/14522486.html\n \n \n \n European Metals Managing Director Keith Coughlan said;\n \n \n \"With 100% of the Cinovec ore reserve now covered by PMP's, Geomet is now the sole company that can apply for a final mining permit across the Cinovec Ore Reserve which is Europe's largest hard rock lithium reserve and a globally significant deposit. With the recent investment of € 29.1 million into Geomet by CEZ, this security of tenure now allows Geomet to focus on rapidly advancing the feasibility and permitting of Cinovec.\"\n \n \n \n - Ends -\n \n \n For further information:\n \n \n \n \n \n Cadence Minerals plc\n \n \n \n \n +44 (0) 207 440 0647\n \n \n \n \n \n \n Andrew Suc...