European Metals Holdings Limited (“European Metals” or “the Company”) announces the results of the Definitive Feasibility Study (DFS) for the Cinovec Lithium Project (Cinovec or Project), located in the Czech Republic. Cinovec hosts Europe's largest hard-rock lithium resource and one of the world's largest non-brine lithium deposits. The DFS was prepared by DRA Global (processing, including Front-End Comminution and Beneficiation (FECAB) and Lithium Chemical Plant (LCP)), Bara Consulting (mining), and specialist engineering, logistics, environmental and permitting consultants. Affiliated Czech partners, including CEZ, have also contributed extensive site, permitting, and regulatory frameworks.
The DFS builds on more than a decade of drilling and sampling, metallurgical testwork, mine design, environmental studies, permitting preparation, stakeholder engagement, infrastructure planning and engineering.
The Cinovec Project is fully located within the Czech Republic, providing EU-domestic supply of lithium to meet the continent's fast-growing requirements for EV batteries and energy-storage systems. The Project sits within 200–350 km of several gigafactories either operating, under construction, or planned within the EU and can benefit from its proximity to a large share of automotive industry entities (OEMs) in Central Europe with 22 car manufacturing plants within 400 km of Prague with over 8 million vehicles manufactured in the area annually.
Executive Chairman, Keith Coughlan, said:
“The DFS confirms Cinovec as one of Europe's most advanced and strategically significant lithium projects. With strong economics, central location and substantial government backing - including approval for up to EUR 360 million in Czech Government grant funding - the Project is uniquely positioned to supply long-term lithium carbonate into the European battery and EV sectors.
EMH is well placed being in partnership with CEZ, a major Czech semi-government company, and together having attracted significant European grant funding. Post this funding, the Board will continue to minimise dilution at the corporate level as it focuses on funding alternatives at the project level. Geomet, being the project company for Cinovec, will be primarily responsible for raising the early-stage funds with the majority being required towards the end of 2026. The partners are in advanced discussion with various parties with a view to provide funding to cover this requirement.
“With the DFS now released, we are advancing discussions with EU institutions regarding additional grants and strategic debt, progressing project financing with commercial lenders and potential strategic partners and moving toward the completion of off-take agreements, which are already at an advanced stage with major European battery and automotive groups. These steps collectively position Cinovec for a final investment decision.”
Contact details:
David Tasker
Chapter One Advisors
M: 0433 112 936
