11th Nov 2025 14:20
(Alliance News) - European Metals Holdings Ltd on Tuesday said it is "near completion" of its definitive feasibility study at the Cinovec project, as it announced all money due to its subsidiary has been paid.
Shares in EMH tumbled 12% to 10.51 pence on Tuesday afternoon in London.
The Perth, Australia-based mining company is focused on advancing battery metals through its Cinovec project in the Czech Republic.
EMH expects delivery of the study results in the first half of December. Providing an update on Cinovec, EMH said all "substantive" works have been completed, with "some final works" and full documentation continuing.
The company said all money due to its subsidiary Geomet has been paid. This was under a EUR11.0 million cash call, which was issued in August to fund the DFS' completion.
In September, EMH had refinanced a loan to Geomet to satisfy a portion of the project cash call.
Executive Chairman Keith Coughlan said: "Whilst it is disappointing that the DFS is still incomplete, the technical works are now substantially complete. This is a very large and complex project and DRA have done a great job to get us to this stage of near completion."
By Roya Shahidi, Alliance News reporter
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