European Metals raises £2,281,000 for Europe's largest lithium resource
European Metals Holding Limited (DI)
21.25p
16:55 24/04/24
European Metals, the Australian and UK-listed mineral exploration and development company reported Wednesday it had raised £2,281,000 to advance the on-going definitive feasibility on the Cinovec deposit, Europe's largest lithium resource, and for general working capital.
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The capital raise was conducted through subscriptions, mainly to UK based investors, predominantly arranged by Shard Capital, at a price of 35p.
Managing director Keith Coughlan said: "these funds will be used to continue the extensive works that are on-going with regards to the definitive feasibility study for Cinovec. With metallurgical optimisation work almost complete, mine design commenced and offtake discussions progressing, it is a very busy time for the Company whose licences are located in the heart of the European EV revolution."