Business
Further Progress Towards Mining Licence
Further Progress Towards Mining Licence.
About this update from European Metals Holdings Ltd
[{"type":"text","content":"\n \nRNS Number : 7237Z European Metals Holdings Limited 19 December 2017 \n\nFor immediate release\n19 December 2017\nEUROPEAN METALS HOLDINGS LIMITED\nFURTHER PROGRESS TOWARDS MINING LICENCE; ROAST OPTIMISATION\n \nIn February 2017 European Metals Holdings Limited (\"European Metals\" or \"the Company\") announced that the Cinovec South Resource had been added to the Czech State resource register, the first step in the process for the granting of a mining permit.\nThe Company is now pleased to announce that the Cinovec NorthWest Resource has also been added to the Czech State resource register.\nAdditionally, recent optimisation test work has demonstrated the ability to reduce roast temperatures and duration which can result in significant cost savings both in CAPEX and OPEX.\nKey Points:\n \n\n\n\n\n· NorthWest Resource added to Czech State resource register - majority of Cinovec Resource now officially recognised by Czech mining authorities\n \n\n\n\n\n· Optimisation test work indicates potential significant savings in both OPEX and CAPEX\n\n\n\n\n \nEuropean Metals CEO Keith Coughlan said: \"Subsequent to a submission we made to the State Authority, the Cinovec NorthWest resource estimate was approved by a Ministerial Experts Committee for Final reports and projects and placed on the State Register of mineral deposits. We are very pleased with this development and see it as confirmation that the Company is moving forward within the regulatory framework of the Czech Republic and in full consultation with the relevant Czech Ministries. This approval is a pre-requisite for receiving a mining permit in this area.\nThe placing of the NorthWest resource on the State Register, in addition to those portions of the deposit previously added, finalises the first stage of the permitting process. The Company will now apply for a preliminary mining permit over this area to join the previously awarded preliminary mining permits over the southern and eastern portion of the deposit.\nThe Company continues to progress the development of its industry proven, sulphate roast-based flow-sheet of mica-concentrate from the Cinovec Project. It is very pleasing to see the recent optimisation testwork produce strong indications of potential cost savings in both OPEX and C...