Business
Quarterly Activities and Cashflow Report
Quarterly Activities and Cashflow Report.
About this update from European Metals Holdings Ltd
[{"type":"text","content":"\n \n \n For immediate release\n \n \n \n \n \n 29 July 2022\n \n \n QUARTERLY ACTIVITIES REPORT - JUNE 2022\n \n \n \n \n \n \n European Metals Holdings Limited\n \n (\n \n ASX & AIM: EMH, OTCQX: EMHXY, ERPNF and EMHLF\n \n ) (\"\n \n European Metals\n \n \" or the \"\n \n Company\n \n \") is pleased to provide an update on its activities during the three-month period ending 30 June 2022 highlighting the continued progress in the development of the globally significant Cinovec Lithium/Tin Project (\n \n \"the Project\"\n \n or\n \n \"Cinovec\"\n \n )\n in the Czech Republic.\n \n \n The quarter was marked by continued progress by the Company towards finalisation of the Definitive Feasibility Study (\"\n \n DFS\n \n \") together with ongoing discussions with potential offtakers and Project Finance participants. From a macro perspective, the price for lithium remains very strong with the expectation of continuing strong demand within the European Union for lithium resulting from the announcement of approximately 20 new battery giga factories to be built within the EU by 2030. \n \n \n The timeline for the completion of the DFS is under review. Whilst the work on the DFS is proceeding well, there have been delays in the DFS process caused in part by COVID-19 issues in laboratories, the dramatic upturn in the workload of laboratories and therefore reduction in laboratory availability due to increase in demand in the lithium space, and logistical issues caused by the Ukrainian situation. The Company is currently reviewing the project timelines and will advise the market when it has completed this review. It is not expected that this will delay the critical path of the Project, as during this time the Company will be in the process of finalising permitting and Project Finance matters.\n \n \n During the reporting period, European Metals was accepted to trade on the globally renowned US based OTCQX® Best Market Platform. The Company commenced trading under the codes EMHXY, ERPNF and EMHLF on 12 May 2022. Trading will accelerate exposure to major US investors. OTCQX® Best Market adds to the Company's existing suite of active listings across the ASX, AIM and European exchanges (refer to the Company's ASX release dated 12 May 2022) (\n \n European Metals commences trading on the OTCQX® Best Market\n...