European Metals announced the signing of a Memorandum of Understandingwith The Ministry of Industry and Trade of the Czech Republic regarding the development of the Cinovec Project. The MoU was signed between the Minister of Industry andTrade, Jiri Havlicek and the company, in the presence of the representatives of the Australian Embassy and Australian Trade and Investment Commission, among others.
The MoU expresses mutual willingness to investigate suitable locations for processing facilities for the Cinovec Project to minimize impacts on the community and environment but maximize positive impacts on the economy and employment of persons of the area surrounding the Cinovec Project.
Cinovec hosts the largest lithium resource in Europe, and one of the largest undeveloped tin resources in the World. The recently completed Preliminary Feasibility Study indicates that Cinovec has the potential to be the lowest cost hard rock lithium producer in the World.
The Cinovec project is located 100 km NW from Prague on the border with Germany.
