Cinovec Lithium / Tin Deposit

Operator: European Metals Holdings (EMH.L)

Ownership: Approx. – 13% interest (01/01/2021)

Location:

Cinovec, Czech Republic

Development Stage:

Feasibility Ongoing

Background

European Metals Holdings (“EMH”) plan to sustainably supply 25,267 tpa lithium hydroxide or 22,500 tpa lithium carbonate into the European battery market –low cost, long term.

  • Size – 49% of the largest hard rock lithium resource in Europe, the 4th largest non-brine resource globally.
  • Cost – potential low-cost producer, the bottom of the cost curve
  • Location – in the hear of Europe within close proximity to numerous potential end-users
  • Strategic Partnership – 51% CEZ partnership ensures the project is fully funded to the decision to construct.

Location

The Cinovec project is located 100 km NW from Prague on the border with Germany, situated in the heart of Europe with ready access to end-user car makers and companies involved in energy storage.

The project is located close to large industrial and chemical plants with excellent support services in Czech and Germany, adjacent to a main road with two rail lines within 10km of the deposit.

Project

European Metals Holdings owns 49% of the Cinovec Project.

  • Large 1.68mtpa underground mining operation
  • Underground crushing and conveyor to surface milling
  • Wet magnetic separation of lithium concentrate
  • Production of lithium hydroxide or carbonate via gypsum & sodium sulphate roast, water leach, purification and product precipitation/crystallization route
  • By-product gravity recovery of tin and tungsten
UPDATED PFS JUNE 2019
Annual Production 25,267 tpa battery-grade LiOH.H2O
Project Life 21 years
Total JORC Resource 7.22 Mt LCE (4.08 Mt indicated, 3.15 Mt inferred)
Construction Capital Costs US$ 482.6 million
Operating Costs (with credits) US$3,435/t LiOH.H2O
Lithium Hydroxide Price  Assumption US$12,000/t battery-grade LiOH.H2O
After-tax economics US$1.1 billion (NPV 8%)
Internal rate of return 28.8%