Aankondiging • Mar 09
European Metals Holdings Limited, Annual General Meeting, May 19, 2026 European Metals Holdings Limited, Annual General Meeting, May 19, 2026. Aankondiging • Jan 21
European Metals Holdings Limited has filed a Follow-on Equity Offering in the amount of AUD 3.45968 million. European Metals Holdings Limited has filed a Follow-on Equity Offering in the amount of AUD 3.45968 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 10,811,500
Price\Range: AUD 0.32
Discount Per Security: AUD 0.016
Transaction Features: Subsequent Direct Listing Aankondiging • Jan 14
European Metals Holdings Limited Announces Full Environmental Impact Assessment Submits for Cinovec Lithium Project European Metals Holdings Limited advised that the full Environmental Impact Assessment ("EIA") for the Cinovec Lithium Project ("Project") was formally submitted to the Czech Ministry of the Environment (" Ministry") on 31 December 2025. The submission completes the two-stage EIA process, following lodgement of the screening-stage assessment earlier in 2025, and represents a key regulatory milestone for the Project. This EIA covers the entire Cinovec development and supports the outcomes of the recently completed Definitive Feasibility Study ("DFS"), which confirmed Cinovec as a long-life, large-scale European lithium project with a 26+ year mine life and forecast production of approximately 37,500 tonnes per annum of battery-grade lithium carbonate. Aankondiging • Aug 18
European Metals Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 3 million. European Metals Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 18,750,000
Price\Range: AUD 0.16
Discount Per Security: AUD 0.008
Transaction Features: Subsequent Direct Listing Aankondiging • Apr 30
European Metals Holdings Limited, Annual General Meeting, May 29, 2025 European Metals Holdings Limited, Annual General Meeting, May 29, 2025. Location: at level 4, 88 william st, perth wa 6000 Australia Aankondiging • Mar 07
European Metals Holdings Limited Announces Update for the Cinovec Project European Metals Holdings Limited announced the following update for the Cinovec Project. Highlights Cinovec mineral deposit designated a Strategic Deposit for the purposes of the Czech Construction Code, simplifying and shortening permitting. The designation of Cinovec as a Strategic Deposit for the purposes the purposes of the Czech Construction code is a major step forward for the Project, enabling Geomet to obtain certain permits and take actions to secure the development of the Project without undue delay. Geomet has been granted a preliminary mining permit by the Ministry of Environment and the Ministry of Industry. The company is owned 49% by EMH and 51% by CEZ a.s. through its wholly owned subsidiary, SDAS. Cinovec hosts a globally significant hard rock lithium deposit with a total Measured Mineral Resource of 53.3Mt at 0.48% Li2O, Indicated Mineral Resource of 360.2Mt at 0.44% Li2O and an Inferred Mineral Resource of 294.7Mt at 0.39% Li2O containing a combined 7.39 million tonnes Lithium Carbonate Equivalent. An initial Probable Ore Reserve of 34.5Mt at 0.65% Li2O reported 4 July 2017 has been declared to cover the first 20 years mining at an output of 22,500tpa of lithium carbonate. This makes Cinovec the large hard rock lithium deposit in Europe and the fifth largest non-brine deposit in the world. The deposit has previously had over 400,000 tonnes of ore mined as a trial sub-level open stope underground mining operation. It confirmed the deposit is amenable to bulk underground mining. Metallurgical test-work has produced both battery-grade lithium hydroxide and battery-grade lithium carbonate at excellent recoveries. In February 2023 DRA Global Limited was appointed to complete the Definitive Feasibility Study. Cinovec is centrally located for European end-users and is well serviced by infrastructure, with a sealed road adjacent to the deposit, rail lines located 5 km north and 8 km south of the deposit, and an active 22 kV transmission line running to the historic mine. The deposit lies in an active mining region. The economic viability of Cinovec has been enhanced by the recent push for supply security of critical raw materials for battery production, including the strong increase in demand for lithium globally, and within Europe specifically, as demonstrated by the European Union's Critical Raw Materials Act (CRMA). Aankondiging • Jan 31
European Metals Holdings Limited Announces Results of A Concept Study for the Cinovec Project European Metals Holdings Limited provided the following update to its announcement from 20 December 2024 relating to the results of a Concept Study for the Cinovec Project ("Cinovec" or "the Project"). The assessment of potential production capacity increases for the Project has now been completed at concept study level. The Concept Study indicates that a potential increase in ROM production capacity may be achievable, subject to further evaluation in the upcoming DFS. The proposed increase in ROM capacity is expected to be achievable without the need to increase the size of footprint of the underground mine at surface. This increase in ROM production capacity is expected to result in considerable economic benefits due to the economies of scale flowing through to the lithium chemical plant. Further work will be required to assess the economic benefits of any potential increase in capacity as part of the ongoing DFS. Bara Consulting, the mining adviser to the Project, was instructed to review options for an increase in the ROM production targeted by the Project. The review was done at concept study level, building on the previous mining PFS published on 19 January 2022 and subsequent DFS-level of work as part of the overall DFS. In the past, the critical constraint on mine production capacity for the Project was the size of the proposed Dukla processing plant site, at 24 hectares. The Prunérov EPR1 site which is now to be used is 36 hectares which easily supports and enables the increased ROM production objective. Constraints placed on the ROM capacity review by the Project team were that the mine portal area could not increase in size or change position and that the box-cut and twin decline system would remain the same as designed for the PFS and as a result not materially impact the environmental footprint. The mine plan for the conceptual study-level assessment is essentially the same as the mine plan for the PFS, producing 2.25 mtpa, except that it assumes a faster mining rate and incorporates Inferred JORC Resources in the last eight years of mining (Years 21 to 28, including three ramp-down years). No Inferred Resources were included in the Concept Study mine plan in Years 1 to 20. The Concept Study scope includes mining of the Cinovec deposit by sub-level longhole open stoping methods, with backfill, however with an expanded fleet of larger equipment to achieve the increased mining rate. Muck handling circuits previously designed were considered suitable for the expanded production scenario. ROM ore is to be transported 9km to the Dukla site which is now planned to be a trans-shipment site for outbound ROM ore and inbound mine backfill material. ROM ore is to be transported from Dukla by rail to the new and expanded processing plant site at Prunérov, where it is processed to LiOH.H20. Appropriate capital provisions for the expanded mining operation as well as an expanded processing facility have been made in the Concept Study. Tailings are to be disposed of at the Doly Nástup Tušimice open-pit coal mine site previously planned (4km from the processing plant site), which was assessed as adequate for the increased disposal capacity required. Lithium Chemical Plant residue is now to be transported by backhaul via rail then rope conveyor to the mine portal site where it is prepared as paste backfill and pumped underground. The Measured and Indicated Resource base previously reported adequately supports the proposed increase in production, however with consequently reduced life of mine. Positive project economics were demonstrated at Concept Study levels of confidence for Mining Inventory derived from Measured and Indicated Resources only. However, project economics as well as life of mine were suitably improved by the inclusion of Inferred Resources in the later years of the mine plan, which were therefore included in the Concept Study evaluation and will thus be carried into the ongoing DFS study workplan. Note there is a low level of geological confidence associated with Inferred mineral resources and there is no certainty that further exploration work will result in the determination of indicated mineral resources or that the mining production proposed in Years 21 to 28 of the Concept Study will be realised. However, as the Cinovec mineral deposit is massive, the Project shows a good track record of upgrading Inferred Resources to Indicated and Measured categories. Assumed Lithium Recovery Levels; The lithium recovery to concentrate used in this Concept Study represents the recovery from a Front-End Comminution and Beneficiation circuit ("FECAB") design which is now 100% flotation-based. As detailed in the Company's announcements of 31 July 2024 and 27 November 2024, the repeatable lithium recoveries for un-deslimed flotation achieved in bench-scale testing are >94%. The FECAB recovery rate of 91.5% used in the Concept Study incorporates allowances for full scale-up /industrial plant performance. As noted in the Cinovec Project Update announcement of 27 November 2024, results of the DFS are expected to be released in mid-2025. The proposed increased in ROM and battery grade lithium product tonnages for the Project (as contemplated by the Concept Study) will not impact this timeline. European Metals, in developing the Cinovec Lithium Project, is well positioned to meet the rising demand for battery materials in the European Union ("EU") and to support the EU's objectives to secure supply of Critical Minerals including lithium within the EU. The Cinovec Project is the largest hard rock lithium project in the EU and Europe and is centrally located on the Czech Republic's border with Germany. The project has excellent ESG credentials underpinning the production of battery grade lithium hydroxide and/or carbonate with low CO2 emissions in a global context. Headquartered in the Czech Republic, CEZ a.s. is one of the largest companies in the Czech Republic and a leading energy group operating in Western and Central Europe. CEZ's core business is the generation, distribution, trade in, and sales of electricity and heat, trade in and sales of natural gas, and coal extraction. The foundation of power generation at CEZ Group are emission-free sources. The CEZ strategy named Clean Energy for Tomorrow is based on ambitious decarbonisation, development of renewable sources and nuclear energy. CEZ announced that it would move forward its climate neutrality commitment by ten years to 2040. The largest shareholder of its parent company, CEZ a.s., is the Czech Republic with a stake of approximately 70%. The shares of CEZ a.s. are traded on the Prague and Warsaw stock exchanges and included in the PX and WIG-CEE exchange indices. CEZ's market capitalization is approximately EUR 20.3 billion. As one of the leading Central European power companies, CEZ intends to develop several projects in areas of energy storage and battery manufacturing in the Czech Republic and in Central Europe. Aankondiging • Dec 20
European Metals Holdings Limited Announces Significant Increase in Planned Lithium Production from the Cinovec Project European Metals Holdings Limited announced a significant increase in the planned annual production of lithium chemicals from the Cinovec Project. Planned production of battery-grade lithium hydroxide monohydrate increased by 42% to 41,658 tpa or 36,670 tpa of battery-grade lithium carbonate. This planned increase in production enables the Project to benefit from significant economies of scale which will be confirmed in the Definitive Feasibility Study now due for completion in mid-2025. The assessment of production capacity capabilities for the Project has now been completed with the result being that the run-of-mine production (" ROM") has been increased from 2.25 million tonnes per annum (" mtpa") to 3.2 mtpa. The substantial increase in ROM has resulted in an increase in the planned production of lithium hydroxide monohydrate from 29,385 tonnes per annum ("tpa") to 41,658 tpaor 36,670 tpa of lithium carbonate without the need to increase the size of footprint of the underground mine at surface. This 42% increase in ROM production is expected to result in considerable economic benefits to be gained due to the economies of scale flowing through to the lithium chemical plant. The mine plan for the new 3.2mtpa ROM planned production level is the same as the mine plan for the PFS producing 2.25mtpa, except that it is mined faster and Inferred JORC Resources are brought into production in the last eight years of mining (Years 21 to 28), including three ramp-down years). Cinovec hosts a globally significant hard rock lithium deposit with a total Measured Mineral Resource of 53.3Mt at 0.48% Li2O, Indicated Mineral Resource of 360.2Mt at 0.44% Li2O and an Inferred Mineral Resource of 294.7Mt at 0.39% Li2O containing a combined 7.39 million tonnes Lithium Carbonate Equivalent. An initial Probable Ore Reserve of 34.5Mt at 0.65% Li2O 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. Aankondiging • Oct 25
European Metals Holdings Limited, Annual General Meeting, Nov 27, 2024 European Metals Holdings Limited, Annual General Meeting, Nov 27, 2024. Location: level 4, 88 william st, western australia 6000, perth Australia Aankondiging • Aug 01
European Metals Holdings Limited Provides Update Regarding the Cinovec Lithium Project European Metals Holdings Limited provided the following update regarding the Cinovec Lithium Project. The company advises that the timeline for the completion of the Definitive Feasibility Study ("DFS") and therefore construction of the Cinovec lithium processing plant continue to be worked on. Given the change to the location of the lithium processing plant from Dukla toPrunérov, additional geotechnical work is currently underway to confirm the optimal construction method and layout at the new site. Results from this geotechnical work are expected to be available at the end of September. DRA Global is then expected to provide a detailed timeline and begin the DFS finalisation program of work. The Company will provide a further update to the market once it has received a revised timeline for completion of the DFS. The Project team continues to progress several DFS-related programs on the Front-End Comminution and Beneficiation circuit ("FECAB") and Lithium Chemical Plant circuit ("LCP") to improve the overall flowsheet which are expected to positively impact Project economics. Process Flowsheet Improvements - FECAB: The Company previously announced changes to the FECAB process flowsheet from beneficiation based entirely on magnetic separation to a process incorporating both magnetic separation and flotation, (seethe Company's ASX/AIM announcement of 31 October 2022 "Simplified Extraction Process Delivers Exceptionally Clean Battery-Grade Lithium Product with Improved Economics"). This improvement yielded a total FECAB lithium recovery of >87%, with 7-8% lost to the fines fraction and the balance of 5-6% losses due to process inefficiency. By mass, the proportion of the ore recovered to concentrate achieved was 30% of the total feed and the grade of the concentrate entering the LCP was 1.198% lithium (2.58% Li2O). To improve FECAB performance, targeting a higher-grade concentrate, additional flotation testwork has been carried out. Representative ore samples were utilised, milled to P80<150µm and tested without removing the <20µm slimes fraction before flotation. Results, benefits and impacts of this testwork are: Potential for complete elimination of the magnetic separation step from the FECAB flowsheet; Flotation process without desliming has been successfully optimised, which improves the recovery of zinnwaldite from the <20µm fraction whilst not impacting reagent consumption or other process beneficiation performance factors; A capability to deliver overall FECAB lithium recovery improvements from >87% to >94.7%, proven on a repeated basis; Uplift in concentrate grade from 1.198% Li (2.58% Li2O) to produce almost pure zinnwaldite concentrate with average grade of 1.46% Li (3.14% Li2O); The grades of concentrate produced in the flotation testwork are the highest to date, based on the recoveries achieved and mass rejection (of gangue) of 80% on average; The flotation testwork program was carried out at neutral pH and there was no need for chemical addition to adjust pH; The above results are from repeated locked cycle testwork; The locked cycle testwork achieved optimisation of recirculation in the flotation circuit, such that the final circuit contained only a single recirculation stream; The improved lithium grade and purity of concentrate recovered are expected to significantly impact both the operating costs per tonne ("Opex/t") of battery-grade end-product as well as the capital expenditure per tonne ("Capex/t") for the LCP; The results of this recent testwork have translated into impacts on the DFS which include re-sizing of kilns for roasting the concentrate and reagent and energy consumption reductions for the same overall process outputs, with the intensive magnetic separation plantCapex/t and Opex/t eliminated; Expected economic improvements include a reduction in roasting reagents (gypsum, limestone and sodium sulphate) required for the same output; The purity of the flotation concentrate achieved further supports production of exceptionally clean battery-grade end products for Cinovec; A flotation-only process simplifies the FECAB operationally (in addition to reducing Capex/t and Opex/t); The measured Particle Size Distribution ("PSD") of the flotation concentrate is close to the ideal PSD for kiln feed. As a result, the need for a concentrate regrind mill currently in the process flowsheet is being re-assessed. The flotation testwork has yielded excellent results and the Project team is now considering the full ramifications in bulk materials handling, tailings storage and backfilling, should a positive decision be made to change the FECAB process flowsheet to 100% flotation beneficiation. The Company will provide an update when a decision has been made. Aankondiging • Apr 19
European Metals Holdings Limited Announces Appointment of Merrill Gray as Non-Executive Director European Metals Holdings Limited announced the appointment of Merrill Gray as a Non-Executive Director to the Board, effective 18 April 2024. Merrill is a highly experienced executive and non-executive of ASX and private companies. Her appointment brings over 30 years of metallurgical and mining engineering as well as geology experience., including large-scale new technology project development and production management skills. Merrill currently works as a global critical minerals and renewable energy (including hydrogen derivatives) corporate advisor, having previously been MD and CEO of Syngas Ltd. (Founder), Hexagon Energy Materials Limited and Co-MD of lithium-ion battery recycling company, Primobius GmbH. She has significant international experience, including within the European Union and specifically with German automotive OEM's. Merrill brings experience and networks across the lithium-ion battery supply chain. Merrill holds Bachelor of Engineering and Bachelor of Science degrees, as well as an MBA, and is a fellow of The Australasian Institute of Mining and Metallurgy and the Australian Institute of Engineering. Aankondiging • Apr 11
European Metals Holdings Limited Announces Successful Production of Lithium Hydroxide European Metals Holdings Limited announced the successful production of lithium hydroxide monohydrate from pregnant leach solution manufactured during the recent larger-scale Cinovec pilot programme. Highlights: The pilot programme has confirmed the viability of the Lithium Chemical Plant (LCP) process flowsheet for the industrial-scale production of either lithium carbonate or lithium hydroxide. Crude lithium carbonate from the pilot programme has been converted into exceptionally clean battery-grade lithium hydroxide monohydrate at laboratory scale. The pilot programme processed ore is fully-representative in all respects of the run-of-mine for the first seven years of mining planned at Cinovec, including average grade and expected rock-type mix from the bulk mining. The Cinovec LCP flowsheet produces a high purity lithium sulphate solution which is capable of being used to produce either lithium carbonate or lithium hydroxide. The first stage (un-reprocessed) crude lithium carbonate produced is very close to battery grade and easily upgraded to battery grade in a single bicarbonation step (see the Company's ASX/AIM announcement of 9 November 2023 Successful Battery-Grade pilot programme for Cinovec Lithium Project"). The Cinovec LCP flowsheet lends itself to producing battery-grade lithium hydroxide monohydrate either directly, or indirectly via re-processing the first stage crude lithium carbonate. The project team has assessed the relative industrial process risks of manufacturing battery-grade lithium hydroxide monohydrate using both methods. It was concluded the indirect method was regarded as the lower-risk method, when considering process risks and costs. This method of production of lithium hydroxide monohydrate has been tested as part of the pilot programme and has successfully produced battery-grade lithium hydroxide monohydrate at a laboratory scale. European Metals has previously produced battery-grade lithium hydroxide monohydrate (see the Company's ASX/AIM announcement of 8 April 2019 Cinovec Project Update - Battery Grade Lithium Hydroxide Sample Produced). The principal differences between the previous and current samples produced are that the current sample has come from the much larger-scale batch-continuous pilot programme for the revised LCP flowsheet commenced in 2023; and that the assaying requirements have been more extensive, to a better-developed reference standard published in 2020 (see further below). The revised substantially simpler LCP flowsheet was announced by the Company on 31 October 2022 - see the Company's ASX/AIM announcement Simplified Extraction Process Delivers Exceptionally Clean Battery Grade Lithium Product with Improved Economics"). Cinovec battery-grade lithium hydroxide monohydrate contains a higher carbonate level than specified in the reference standard because it has been prepared at laboratory scale. Lithium carbonate crystallises simultaneously with lithium hydroxide monohydrate; conditions are optimised to reduce the production of lithium carbonate to a minimum. In an industrial-scale plant, the lithium carbonate, which is produced in much finer crystals than the lithium hydroxide monohydrate, is separated from the end-product by the physical process of elutriation in solution. Elutriation is a process for separating the finer lithium carbonate particles, using a stream of solution flowing in the opposite direction to the sedimentation of the larger lithium hydroxide monohydrate crystals. This process is not possible in laboratory-scale tests. Acid solubles were not measured as there was not enough sample for this test. Magnetic metal particles were also not measured due to the large sample that is required as well as pilot plant equipment being materially different to the commercial plant and there being far less contact with metal components in the pilot plant. Aankondiging • Mar 27
European Metals Holdings Limited Provides Update for the Cinovec Project European Metals Holdings Limited provided the following update for the Cinovec Project. Geomet, 49% owned by European Metals and the owner of 100% of the Cinovec Lithium Project in the Czech Republic, is in the process of completing the Project Definitive Feasibility Study ("DFS"). DRA Global Limited ("DRA") was appointed to complete the DFS in February 2023. The Geomet management team, in conjunction with DRA Global, is reviewing these matters. The Company expects to make a further announcement before the end of April 2024 detailing some of the more significant issues. Further, the Company reiterates that the process flowsheet remains as announced on 31 October 2022 and confirmed in pilot testing results announced on 9 November 2023. This review process could significantly improve the economic and social/community outcomes. Geomet considers this to be an important development in the Project and makes a further delay in the DFS well justified. As previously noted, engineering test work programmes continue to improve process outcomes in various stages of both the physical and hydrometallurgical processing, and current test work programmes include: Gangue removal from zinnwaldite concentrate to enable a higher-grade roast mix to be processed by the rotary kilns, thus maximising the throughput of lithium units in the roasting without an increase in the size of the plant; recycling and regeneration of reagents in both the roasting and hydrometallurgical stages to reduce the consumption of fresh reagents and decrease opex per tonne of end-product, and simplification of precipitation/crystallisation processes to reduce energy and water costs, aiming at producing end-products with the lowest economic carbon footprint. Aankondiging • Feb 02
European Metals Holdings Limited Announces Change of Company Secretary European Metals Holdings Limited announced the appointment of Mr. Henko Vos as Company Secretary, effective 1 February 2024. Mr. Vos is a member of the Australian Institute of Company Directors, the Governance Institute ofAustralia and Chartered Accountants Australia & New Zealand. He holds similar director and secretarial roles in various other listed public companies in both industrial and resource sectors. Mr. Vos replaces Ms. Shannon Robinson who has been the Company Secretary of European Metals since April 2023. Shannon has stepped down as Company Secretary due to other work commitments recently taken on. Aankondiging • Dec 01
European Metals Holdings Limited, Annual General Meeting, Dec 22, 2023 European Metals Holdings Limited, Annual General Meeting, Dec 22, 2023, at 15:00 W. Australia Standard Time. Location: Ground Floor, 41 Colin Street, West Perth, Western Australia West Perth Australia Agenda: To consider Re-election of Director Mr Keith Coughlan; to consider Ratification of EBRD Subscription Shares; to consider Migration of the Company to Australia; to consider Adoption of Constitution; to consider Appointment of Auditor. Aankondiging • Nov 11
European Metals Holdings Limited Announces Successful Battery-Grade Pilot Programme for Cinovec Lithium Project Cadence Minerals announced the announcement by European Metals Holdings Limited detailing the results of the Lithium Chemical Plant (LCP) pilot programme at Cinovec. The results confirm the robustness of the LCP process flowsheet and provide a strong foundation for the execution of the Cinovec Project. Highlights: Pilot programme has confirmed industrial viability of the LCP process flows sheet. Exceptionally clean battery grade lithium carbonate (>99.9%) produced with single-stage purification (bicarbonation) of crude lithium carbonate. Pilot programme crude lithium carbonate confirmed at 99.7% purity, greater than battery grade (99.5%) in the carbonate precipitation step without any additional processing. Work to produce battery grade lithium hydroxide monohydrate is underway. The pilot programme processed ore fully-representative in all respects of the run-of-mine for the first seven years of mining planned at Cinovec, including average grade and expected rock-type mix from the bulk mining. Next Stage of Development of Cinovec: The DFS for battery-grade Lithium Carbonate remains on-track for completion in fourth quarter of 2023. Subject to confirmation of the pilot programme work for battery grade Lithium Hydroxide, a decision on the battery grade end-product (carbonate vs hydroxide) for the Cinovec Project is expected to be made in early 2024. This will in turn lead to design engineering that will enable the Project to move to production in the shortest possible time frame, and includes engagement with long lead equipment OEMs to ensure that the timeline is expedited. Aankondiging • Jan 31
European Union's Just Transition Fund Approves Cinovec as A Strategic Project European Metals Holdings Limited announced that the Cinovec Project has been classified as a Strategic Project for the Usti Region of the Czech Republic. The list of Strategic Projects has been approved by the European Commission, the Czech Central Government and the Czech Regional Goverment in Usti. Being classified as such means that the Cinovec Project has priority for grant funding from theJust Transition Fund ("JTF")co-funding, ahead of many other projects that have been submitted. The total amount allocated by the Just Transition fund for the Czech Republic is CZK 41 Billion (€1.64 Billion) of which the Usti region has been allocated CZK 15.8 Billion (approx. €632 Million). The first call for grant applications under the JTF opened on 14 November 2022 and closes on 31 December 2023. Given the total amount which may be applied for by the eleven designated Strategic Projects in the Usti region in the first call is CZK 8.3 Billion (approx €350 Million) and that the funds allocated in this first call from the Just Transition Fund to these Strategic Projects totals CZK7.3 Billion (approx €300 Million), although there can be no certainty, the Company is confident that Cinovec will receive a significant portion of the funds applied for from the JTF for the Project. The maximum funding to be made available upon application to each Strategic Project in the Usti Region is CZK 1.2 billion (approx €49 Million). The Cinovec Project has been allocated the maximum possible JTF grant of CZK 1.2 Billion (approx €49 Million), subject to passing through the application process, funds remaining available and obtaining the necessary permits for the early-stage Cinovec work programmes to which this grant funding is planned to be applied to, in particular the early full development of the twin decline entry/egress system for the mine. Accordingly, Geomet s.r.o (the Cinovec project company) will apply for JTF Grant funding for the maximum amount of CZK 1.2 Billion (approx €49 Million). Geomet s.r.o. controls the mineral exploration licenses awarded by the Czech State over the Cinovec Lithium/Tin Project. Geomet has been granted a preliminary mining permit by the Ministry of Environment and the Ministry of Industry. The company is owned 49% by EMH and 51% by CEZ a.s. through its wholly owned subsidiary, SDAS. Cinovec hosts a globally significant hard rock lithium deposit with a total Measured Mineral Resource of 53.3Mt at 0.48% Li2O and 0.08% Sn, Indicated Mineral Resource of 360.2Mt at 0.44% Li2O and 0.05% Sn and an Inferred Mineral Resource of 294.7Mt at 0.39% Li2O and 0.05% Sn containing a combined 7.39 million tonnes Lithium Carbonate Equivalent and 335.1kt of tin. 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. This makes Cinovec the hard rock lithium deposit in Europe, the fifth largest non-brine deposit in the world and a globally significant tin resource. The deposit has previously had over 400,000 tonnes of ore mined as a trial sub-level open stope underground mining operation. 
