Response to Statement of Czech Minister

RNS Number : 5089G

European Metals Holdings Limited

02 March 2018

 

For immediate release

2 March 2018

EUROPEAN METALS HOLDINGS LIMITED

RESPONSE TO STATEMENT OF CZECH MINISTER OF INDUSTRY AND TRADE

European Metals Holdings Limited ("European Metals" or "the Company") notes recent public statements by and correspondence it has received overnight from Mr Thomas Huner, Minister of Industry and Trade of the Czech Republic, purporting to terminate the Memorandum of Understanding dated 2 October 2017 between the Company and the Ministry of Industry and Trade (the "MoU").

The MoU outlines mutual willingness to explore downstream processing opportunities, Czech academic research into lithium processing, potential future co-operation and discussing and exploring possibilities of future agreements. All Company rights are derived from the current Czech legal system, notably the Geological and Mining Act, not the MoU.  Any termination of the MoU would not in any way affect the exploration rights of the Company or the Company's tenure over its exploration permits and the Company continues to progress the project with ongoing metallurgical testwork, discussions with offtakers and preparations for feasibility drilling underway.

The Company remains entirely focused on working with all stakeholders, including the Minister of Industry of Trade and the Government of the Czech Republic, to successfully develop the Cinovec Project as a first-in-kind project that will pave the way for a successful lithium mining and processing industry in the Czech Republic. We look forward to meeting with the Minister in the near term to further these discussions.

ENQUIRIES:

European Metals Holdings Limited Keith Coughlan, Managing Director Kiran Morzaria, Non-Executive Director Julia Beckett, Company Secretary	Tel: [phone] Email: [e-mail] Tel: [phone] Tel: [phone] Email: [e-mail]
Beaumont Cornish (Nomad & Broker) Michael Cornish Roland Cornish	Tel: [phone] Email: [e-mail]
Joint Broker Damon Health Erik Woolgar Shard Capital	Tel:  [phone]

The information contained within this announcement is considered to be inside information, for the purposes of Article 7 of EU Regulation 596/2014, prior to its release.

 

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