Name of the Project
Cinovec lithium/tin project.

Location
The Cinovec project is located 100 km north-west of Prague, in the Czech Republic, on the border with Germany.

Client
European Metals Holdings.

Project Description
Cinovec hosts a hard-rock lithium deposit with a total Indicated mineral resource of 372.4-million tonnes at 0.45% lithium oxide (Li₂O) and 0.04% tine (Sn) and an inferred mineral resource of 323.5-million tonnes at 0.39% Li₂O and 0.04% Sn containing a combined 7.18-million tonnes lithium carbonate equivalent and 263 000 t of tin. An initial probable ore reserve of 34.5-million tonnes  at 0.65% Li₂O and 0.09% Sn has been declared to cover the first 20 years of mining at an output of 22 800 t/y of lithium carbonate.

This makes Cinovec the largest lithium deposit in Europe, the fourth-largest nonbrine deposit in the world and a globally significant tin resource.

A prefeasibility study has confirmed the deposit is amenable to bulk underground mining.

Metallurgical testwork has produced battery-grade lithium carbonate and high-grade tin concentrate at excellent recoveries.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value of $540-million and an internal rate of return of 21%.

Value
Not stated.

Duration
Not stated.

Latest Developments
European Metals Holdings has confirmed that that it received a letter from Krupa Global Investments (KGI) on January 15, 2019, purporting to make an indicative offer on behalf of the Ceske Litihium company (a member of the KGI Group) to “purchase the lithium mining and processing project at Cinovec“.

The purported indicative offer letter, however, does not contain any detail with regard to price, terms or conditions. In light of the absence of this information, European Metals has not considered this to be an offer which it can consider at this time.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
European Metals Holding, tel +61 8 6141 3500.