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location:Sydney Masonic Centre, Australia
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date:18/09/2023
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European Metals is set to sell a majority stake in its Cinovec lithium project to Czech power utility Cez, a move that gives the ASX listed player enough cash to fund a definitive feasibility study as it targets first production in 2023.
European Metals is eyeing first production at the Cinovec project in mid-2023
Cez will pay about €34.1 million for a 51% stake in Geomet - European Metals' Czech subsidiary, which holds the rights to the project, located in the Czech Republic close to the German border.
The deal views the supply of 5,000Mt in the first year and 9,000Mt each year thereafter
European Lithium merges with SPAC
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