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PFS Update Confirms Potential Low-Cost LiOH.H2O
PFS Update Confirms Potential Low-Cost LiOH.H2O.
About this update from European Metals Holdings Ltd
[{"type":"text","content":"\n \nRNS Number : 4303C European Metals Holdings Limited 17 June 2019 \n\nFor immediate release\n17 June 2019\nEUROPEAN METALS HOLDINGS LIMITED\nPFS UPDATE CONFIRMS POTENTIAL OF LOW-COST LITHIUM HYDROXIDE PRODUCTION\n \nEuropean Metals Holdings Limited (\"European Metals\" or \"the Company\") is pleased to announce the results from the successful update of the process flowsheet previously developed to enable the production of lithium hydroxide (LiOH.H2O). This work has been completed in conjunction with test-work confirming the production of battery grade lithium hydroxide from Cinovec ore. \nThese results significantly enhance the forecast economics of the Cinovec Project.\nHIGHLIGHTS (all $ figures in this release are US Dollars and increases refer to the 2017 PFS Lithium Carbonate study):\n \n· Net estimated overall cost of production post credits: $3,435 / tonne LiOH.H2O \n· Project Net Present Value (\"NPV\") increases 105% to: $1.108B (post tax, 8%) \n· Internal Rate of Return (\"IRR\") increased 37% to 28.8% (post tax) \n· Total Capital Cost: $482.6M\n· Annual production of Battery Grade Lithium Hydroxide: 25,267 tonnes \n· Studies are based on only 9.3% of reported Indicated Mineral Resource and a mine life of 21 years processing an average of 1.68 Mtpa ore\n· The process used to produce lithium hydroxide allows for the staging of lithium carbonate and then lithium hydroxide production to minimize capital and startup risk and enables the production of either battery grade lithium hydroxide or carbonate as markets demand\nEuropean Metals Managing Director Keith Coughlan said, \"I am very pleased to report to shareholders on the completion of this update to our 2017 Preliminary Feasibility Study for the Cinovec project which adds significantly to the already robust forecast economics for the project. Since demonstrating that battery grade lithium hydroxide can be produced from zinnwaldite mineralisation we have worked with Hatch to update the flowsheet and engineering required to adapt our lithium carbonate producing flowsheet to one that converts battery grade lithium carbonate into lithium hydroxide. We have now confirmed the ...