Business
Resignation of Chairman and Board Changes
Resignation of Chairman and Board Changes.
About this update from European Metals Holdings Ltd
[{"type":"text","content":"\n \n \n RNS Number : 5050R\n European Metals Holdings Limited\n 30 June 2020\n \n \n \n \n For immediate release\n \n 30 June 2020\n EUROPEAN METALS HOLDINGS LIMITED\n \n RESIGNATION OF CHAIRMAN AND BOARD CHANGES\n \n \n \n \n \n European Metals Holdings Limited (\"European Metals\" or the \"Company\") advises that Mr David Reeves has resigned as a Director and Non-Executive Chairman of the Company effective immediately to concentrate on his other business interests\n . The board of directors of the Company would like to thank Mr Reeves for his valuable contribution to the Company and wish him every success in his future endeavours. \n \n \n The Company advises that Mr Keith Coughlan has been appointed as Executive Chairman on an interim basis. \n \n Keith Coughlan commented, \"Dave has been a significant driving force behind the development of the Cinovec Project. It was Dave who first introduced the Company to the opportunity of buying Cinovec in 2013. Since that time he has steered the direction of the Company and has been an extremely hands on Chairman.\n \n The demands on Dave's time from his executive role have significantly increased as he concentrates on the development of the Warrawoona Gold Project for Calidus Resources. We wish him every success in that endeavour.\"\n \n \n \n \n BACKGROUND INFORMATION ON CINOVEC\n \n \n PROJECT OVERVIEW\n \n \n \n \n Cinovec Lithium/Tin Project \n \n \n \n \n Geomet s.r.o. controls the mineral exploration licenses awarded by the Czech State over the Cinovec Lithium/Tin Project. Geomet s.r.o. is owned 49% by European Metals and 51% by CEZ a.s. through its wholly owned subsidiary, SDAS. Cinovec hosts a globally significant hard rock lithium deposit with a total Indicated Mineral Resource of 372.4Mt at 0.45% Li2O and 0.04% Sn and an Inferred Mineral Resource of 323.5Mt at 0.39% Li2O and 0.04% Sn containing a combined 7.22 million tonnes Lithium Carbonate Equivalent and 263kt of tin reported 28 November 2017 (Further Increase in Indicated Resource at Cinovec South). An initial Probable Ore Reserve of 34.5Mt at 0.65% Li2O and 0.09% Sn reported 4 July 2017 (Cinovec Maiden Ore Reserve - Further Information) has been declared to cover the first 20 years mining at an output of 22,500tpa of lithium carbonate reported 11 July 2018 (Ci...