European Metals Holdings announcement

European Metals Holdings Limited (ASX: $EMH) has announced the selection of a new site for the Cinovec Lithium Processing Plant, with the move expected to provide improved permitting and project economics. The Prunérov site has been chosen for the lithium processing plant, aiming to expedite the Cinovec Project and optimize project economics.

Executive Commentary

Keith Coughlan, Executive Chairman, stated, 'The decision to move the lithium processing plant to the Prunérov site is expected to have a positive impact on the project's capex and opex per tonne. The move is anticipated to facilitate a quicker permitting process and a more effective layout of the processing plant, providing a positive outcome for the surrounding communities.'

Summary of Announcement

European Metals Holdings has selected the Prunérov site for the Cinovec Lithium Processing Plant, anticipating improved permitting and project economics. The new site is expected to result in reductions in capex and opex per tonne, expedite the permitting process, and enable a more effective layout of the processing plant. The decision has received preliminary agreement and support from the municipal and regional governments. The company will proceed to finalize the Definitive Feasibility Study process, taking into account the new site and the revised capex. The move is seen as a positive step towards the company's application for Strategic Project status under the European Union's Critical Raw Materials Act. The Prunérov site is expected to provide employment opportunities and align with the region's transition from coal to lithium processing, receiving support from local stakeholders and governments. The announcement reflects the company's commitment to sustainable and efficient project development.