Business
European Metals Holdings Update
European Metals Holdings Update.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 2961U Cadence Minerals PLC 11 July 2018 \n\nCadence Minerals Plc\n \n(\"Cadence Minerals\", \"Cadence\" or \"the Company\")\n \nEuropean Metals (EMH) Cinovec Lithium Carbonate Production Modelled to Increase to 22,500 TPA\nCadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is greatly encouraged to note the results of roast optimization tests conducted by European Metals Holdings (AIM: EMH) at the Cinovec Lithium-Tin project in the Czech Republic. EMH stated today that improved recoveries have resulted in increased lithium carbonate production to 22,500tpa.\nHighlights:\n· Average lithium carbonate production increased from 20,800 tpa to 22,500 tpa due to improved recoveries in the leach circuit of 94% being modelled. \n· Increased lithium production results in increased cash margins of approximately 10%\n· Low cost waste gypsum from local power plants now utilized as a roasting reagent is a significant positive environmental outcome for the region and a reagent cost benefit to the project.\n· Locked cycle testing and larger scale roasting technology confirmation work to commence imminently.\n· Preparation of 3 tonnes of lithium concentrate via magnetic separation for lithium carbonate pilot plant trials almost complete. \nIn addition, Cadence also notes comments from European Metals MD Keith Coughlan, regarding recent political developments within the Czech Republic and the imminent formation of a coalition government. The EMH board looks forward to engaging with the new Government to advance the project to the benefit of all stakeholders.\nCadence owns approximately 20% of the equity in European Metals Holdings.\nThe full release can be found at: https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/EMH/13712961.html\nCadence CEO Kiran Morzaria commented: \"The strategic importance of the Cinovec Lithium project as a future supply hub for the European EV industry cannot be overstated.\"\n\"That the optimisation tests conducted by European Metals are already showing a significant improvement in Lithium recovery and increased cash margins is not only great news for the EV industry but could in future help to meet any lithium sup...