European Metals Holdings Limited (EMH:ASX) has announced the results of its Definitive Feasibility Study (DFS) for the Cinovec Lithium Project, located in the Czech Republic. European Metals is a mineral exploration and development company focused on advancing the Cinovec lithium/tin project in the Czech Republic, which hosts Europe’s largest hard-rock lithium resource. The DFS, prepared by DRA Global and other specialist consultants, builds on over a decade of drilling, metallurgical testing, and engineering work.
The Cinovec Project is fully located within the Czech Republic and is positioned to provide a secure, EU-domestic supply of lithium for the rapidly growing electric vehicle battery and energy storage sectors. Its location places it within 200–350 km of several gigafactories operating, under construction, or planned within the EU, as well as a large share of automotive industry entities in Central Europe. The project is a vertically integrated operation comprising an underground mine, beneficiation plant, and lithium chemical plant, all integrated with necessary utilities and transport infrastructure, with a strong ESG profile aligned with EU CRMA standards.
Key highlights of the DFS include strong economics and substantial government backing, including approval for up to EUR 360 million in Czech Government grant funding. Executive Chairman Keith Coughlan stated that the DFS confirms Cinovec as one of Europe’s most advanced and strategically significant lithium projects. EMH is partnered with CEZ, a major Czech semi-government company, and together they have 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.
The company is progressing discussions with EU institutions regarding additional grants and strategic debt, project financing with commercial lenders and potential strategic partners, and completion of off-take agreements with major European battery and automotive groups. These steps collectively position Cinovec for a final investment decision.
