European Metals raises £2,281,000 for Europe's largest lithium resource
European Metals Holding Limited (DI)
19.60p
10:50 19/04/24
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.
FTSE AIM All-Share
741.18
11:30 19/04/24
Industrial Metals & Mining
6,740.31
11:29 19/04/24
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."