REG - European Metals Hldg - Quarterly Activities/Appendix 5B Cash Flow Report
31/01/2025 07:30
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RNS Number : 4423V European Metals Holdings Limited 31 January 2025
For immediate
release
31 January 2025
QUARTERLY ACTIVITIES REPORT
31 DECEMBER 2024
European Metals Holdings Limited (ASX & AIM: EMH, OTCQX: EMHXY and EMHLF)
("European Metals" or the "Company") is pleased to provide an update on its
activities during the three-month period ending 31 December 2024. Continued
progress with the development of the globally significant Cinovec Lithium
Project ("the Project" or "Cinovec") in the Czech Republic, has been made over
this period.
Cinovec Lithium Project and DFS Update
During the quarter, the Company released an update on the Definitive
Feasibility Study ("DFS") for the Cinovec Project (see the Company's ASX/AIM
announcement of 27 November 2024 "Cinovec Project Update").
The Company announced the selection of the former Prunéřov 1 Power Station
("EPR1") as the processing plant and related infrastructure construction
location, after extensive evaluations of potential sites within the broader
Prunéřov area. The EPR1 site offers advantages such as established
infrastructure for power, water and rail access to leverage off, leading to
cost reduction and enhanced operational efficiency. Key benefits include
enhanced logistics due to existing rail links, potential processing capacity
expansion areas and the potential for integration with CEZ's solar power
plans. The Dukla site will be reconfigured as a transport hub, while ongoing
engineering work focuses on optimising capital and operational expenditure at
EPR1.
The shift to the EPR1 site, which spans 36 hectares compared to the previous
24-hectare Dukla site, is expected to bring several significant benefits:
• Well-established road infrastructure including rail links that will
provide excellent access to site, which will provide significant
constructability advantages for the processing plant as well as ongoing
operating cost ("Opex") benefits and sustainability (environmental footprint)
benefits as a result of building on rehabilitated land.
• EPR1 was a major industrial site and is therefore well serviced by power,
gas and water infrastructure which will require less work and investment to
re-connect and reticulate into the processing plant.
• EPR1 is served directly by extensive rail infrastructure built for the
purpose of delivering coal to the EPR1 and EPR2 power plants, which will
continue to be used for EPR2 until it is decommissioned by CEZ. This presents
synergies in terms of operating and maintenance costs for shared
infrastructure and services and may enable expansion of planned processing
capacity beyond that published in the Project's 2022 Pre-Feasibility Study
("PFS"), namely 2.25mtpa run-of-mine ore ("ROM") feed; and
• Ultimately, this may enable a further expansion of lithium production when
the adjacent EPR2 coal-fired power plant is shut down in-line with European
and Czech policy on phasing out coal-fired power generation and adoption of
renewables, including planned solar power installations in the Prunéřov
area.
Engineering work has continued in parallel to finalising the process plant
location and has included:
• Continuous improvement to mining and processing Capex and Opex, including
optimisation of process design criteria;
• Investigation of opportunities to increase mine production tonnages and
processing plant throughput volumes;
• Reconfiguration of the previous proposed plant site at Dukla to become a
transport hub to load ROM onto trains for transportation to the EPR1 site and,
in the reverse direction, receive tailings for the purpose of backfilling the
mine;
• Optimising materials handling solutions for ROM and tailings at both the
Dukla and EPR1 sites; and
• Evaluation of rail logistics and confirmation that the network capacity
can accommodate the volumes of material from the Cinovec Project.
Work on updating the DFS to include the EPR1 site and revised fully integrated
project configuration has already commenced. The results of the DFS are
expected to be released in mid-2025.
In December 2024, the Company announced the outcomes of a Concept Study into
the potential to increase the planned annual production of lithium chemicals
from the Cinovec Project (see the Company's ASX/AIM announcement of 20
December 2024 "Significant Increase in Planned Lithium Production"). The
Concept Study assessed potential scenarios to increase ROM ore processing
capacity compared to the PFS, without significantly impacting processing plant
head grade, life of mine, or plant recovery.
If supported and confirmed as part of the DFS, scenarios were identified that
could represent an increase to the possible production previously announced in
the PFS, of 29,386 tpa. The Concept Study indicated that this potential
increase in ROM ore could be achieved without expanding the surface footprint
of the underground mine and that the DFS could be based upon the increased ROM
capacity. In addition, that the increased production levels are not expected
to delay the DFS.
The Company notes however that the potential increase in production remains
conceptual and the economic viability of the project based on the variables
considered is currently unknown. However, the potential increase in production
would enable the Project to benefit from significant economies of scale which
are expected to be confirmed in the DFS, now due for completion in mid-2025.
Process Flowsheet Improvements
The Project team is advancing several DFS-related initiatives to enhance the
Front-End Comminution and Beneficiation ("FECAB") circuit and the Lithium
Chemical Plant ("LCP") circuit (see the Company's ASX/AIM announcement of 27
November 2024 "Cinovec Project Update"). These improvements focus on
optimising recovery rates, reducing waste and lowering Opex costs to
strengthen the Project's economic outlook.
In relation to the LCP, post-piloting testing continues to refine aspects such
as roasting reagents, pelletising and moisture reduction in the roast mix, as
well as improvements in lithium phosphate precipitation already achieved.
Consolidated ongoing test work results demonstrate significant economic
benefits, including reduced kiln size and energy consumption, which will be
reflected in the DFS.
CORPORATE AND ADMINISTRATION
QUARTERLY CASHFLOW REPORT
In accordance with the ASX Listing Rules, the Company will also today lodge
its cashflow report for the quarter ended 31 December 2024. There was no
cash outflow for Cinovec associated costs, in respect of the Company's
investment in the Cinovec Lithium Project in the Czech Republic during the
quarter.
The Company's total cash is $3.5 million as at 31 December 2024. It is noted
that there is approximately a further $95k in receivables from the Company's
associate, Geomet s.r.o, in relation to the provision of services in relation
to managing the Cinovec Project development, as at 31 December 2024.
PAYMENTS TO RELATED PARTIES
As outlined in the attached Appendix 5B (section 6.1), during the quarter
approximately $237,000 in payments were made to related parties and their
associates for director salaries, consultancy fees, superannuation and other
related costs. A portion of these expenses is to be reimbursed directly from
Geomet.
CORPORATE ACTIVITY
During the quarter, the Company has resolved to change its financial year-end
from 30 June to 31 December to align with Geomet's reporting period. This
adjustment aims to improve the efficiency and cost-effectiveness of financial
reporting, auditing and governance processes (see the Company's ASX/ AIM
announcement of 26 November 2024 "Change of Financial Year End").
On 31 October 2024, the Company issued 300,000 performance rights and
5,000,000 unlisted options under the Company's Employee Inventive Plan to its
employees and consultants.
GEOMET TENEMENT SCHEDULE
Table 1: Geomet Tenements
Permit Code Deposit Interest at beginning of Quarter Acquired / Disposed Interest at end of Quarter
Cinovec N/A 100% N/A 100%
Exploration Area
Cinovec II 100% N/A 100%
Cinovec III 100% N/A 100%
Cinovec IV 100% N/A 100%
Preliminary Mining Permit Cinovec II Cinovec South 100% N/A 100%
Cinovec III Cinovec East 100% N/A 100%
Cinovec IV Cinovec Northwest 100% N/A 100%
This announcement has been approved for release by the Board.
CONTACT
For further information on this update or the Company generally, please visit
our website at www.europeanmet.com (http://www.europeanmet.com) or see full
contact details at the end of this release.
BACKGROUND INFORMATION ON CINOVEC
PROJECT OVERVIEW
Cinovec Lithium Project
Geomet s.r.o. controls the mineral exploration licenses awarded by the Czech
State over the Cinovec Lithium Project. Geomet has been granted a preliminary
mining permit by the Ministry of Environment and the Ministry of Industry. The
company is owned 49% by EMH and 51% by CEZ a.s. through its wholly owned
subsidiary, SDAS. Cinovec hosts a globally significant hard rock lithium
deposit with a total Measured Mineral Resource of 53.3Mt at 0.48% Li(2)O,
Indicated Mineral Resource of 360.2Mt at 0.44% Li(2)O and an Inferred Mineral
Resource of 294.7Mt at 0.39% Li(2)O containing a combined 7.39 million tonnes
Lithium Carbonate Equivalent (refer to the Company's ASX/AIM release dated 13
October 2021) (Resource Upgrade at Cinovec Lithium Project).
An initial Probable Ore Reserve of 34.5Mt at 0.65% Li(2)O reported 4 July 2017
(Cinovec Maiden Ore Reserve - Further Information) has been declared to cover
the first 20 years mining at an output of 22,500tpa of lithium carbonate
(refer to the Company's ASX/AIM release dated 11 July 2018) (Cinovec
Production Modelled to Increase to 22,500tpa of Lithium Carbonate).
This makes Cinovec the largest hard rock lithium deposit in Europe and the
eighth largest hard rock deposit in the world.
The deposit has previously had over 400,000 tonnes of ore mined as a trial
sub-level open stope underground mining operation.
On 19 January 2022, EMH provided an update to the 2019 PFS Update. It
confirmed the deposit is amenable to bulk underground mining (refer to the
Company's ASX/AIM release dated 19 January 2022) (PFS Update delivers
outstanding results). Metallurgical test-work has produced both battery-grade
lithium hydroxide and battery-grade lithium carbonate at excellent recoveries.
In February 2023 DRA Global Limited ("DRA") was appointed to complete the
Definitive Feasibility Study ("DFS").
Cinovec is centrally located for European end-users and is well serviced by
infrastructure, with a sealed road adjacent to the deposit, rail lines located
5 km north and 8 km south of the deposit, and an active 22 kV transmission
line running to the historic mine. The deposit lies in an active mining
region.
The economic viability of Cinovec has been enhanced by the recent push for
supply security of critical raw materials for battery production, including
the strong increase in demand for lithium globally, and derived from within
Europe specifically, as demonstrated by the European Union's Critical Raw
Materials Act (CRMA).
BACKGROUND INFORMATION ON CEZ
Headquartered in the Czech Republic, CEZ a.s. is one of the largest companies
in the Czech Republic and a leading energy group operating in Western and
Central Europe. CEZ's core business is the generation, distribution, trade in,
and sales of electricity and heat, trade in and sales of natural gas, and coal
extraction. The foundation of power generation at CEZ Group are emission-free
sources. The CEZ strategy named Clean Energy for Tomorrow is based on
ambitious decarbonisation, development of renewable sources and nuclear
energy. CEZ announced that it would move forward its climate neutrality
commitment by ten years to 2040.
The largest shareholder of its parent company, CEZ a.s., is the Czech
Republic with a stake of approximately 70%. The shares of CEZ a.s. are traded
on the Prague and Warsaw stock exchanges and included in the PX and WIG-CEE
exchange indices. CEZ's market capitalisation is approximately EUR 20.3
billion.
As one of the leading Central European power companies, CEZ intends to develop
several projects in areas of energy storage and battery manufacturing in the
Czech Republic and in Central Europe.
CEZ is also a market leader for E-mobility in the region and has installed and
operates a network of EV charging stations throughout Czech Republic. The
automotive industry in the Czech Republic is a significant contributor to GDP,
and the number of EV's in the country is expected to grow significantly in the
coming years.
COMPETENT PERSONS
Information in this release that relates to the FECAB metallurgical testwork
is based on, and fairly reflects, technical data and supporting documentation
compiled or supervised by Mr Walter Mädel, a full-time employee of Geomet
s.r.o an associate of the Company. Mr Mädel is a member of the Australasian
Institute of Mining and Metallurgy (AUSIMM) and a mineral processing
professional with over 27 years of experience in metallurgical process and
project development, process design, project implementation and operations. Of
his experience, at least 5 years have been specifically focused on hard rock
pegmatite Lithium processing development. Mr Mädel consents to the inclusion
in the announcement of the matters based on this information in the form and
context in which it appears. Mr Mädel is a participant in the long-term
incentive plan of the Company.
Information in this release that relates to exploration results is based on,
and fairly reflects, information and supporting documentation compiled by
Dr Vojtech Sesulka. Dr Sesulka is a Certified Professional Geologist
(certified by the European Federation of Geologists), a member of the Czech
Association of Economic Geologist, and a Competent Person as defined in the
JORC Code 2012 edition of the Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves. Dr Sesulka has provided his prior
written consent to the inclusion in this report of the matters based on his
information in the form and context in which it appears. Dr Sesulka is an
independent consultant with more than 10 years working for the EMH or Geomet
companies. Dr Sesulka does not own any shares in the Company and is not a
participant in any short- or long-term incentive plans of the Company.
Information in this release that relates to metallurgical test work and the
process design criteria and flow sheets in relation to the LCP is based on,
and fairly reflects, information and supporting documentation compiled by Mr
Grant Harman (B.Sc Chem Eng, B.Com). Mr Harman is an independent consultant
and the principal of Lithium Consultants Australasia Pty Ltd with in excess of
14 years of lithium chemicals experience. Mr Harman has provided his prior
written consent to the inclusion in this report of the matters based on his
information in the form and context that the information appears. Mr Harman is
a participant in the long-term incentive plan of the Company.
The information in this release that relates to Mineral Resources and
Exploration Targets is based on, and fairly reflects, information and
supporting documentation prepared by Mr Lynn Widenbar. Mr Widenbar, who is a
Member of the Australasian Institute of Mining and Metallurgy and a Member of
the Australasian Institute of Geoscientists, is a full-time employee of
Widenbar and Associates and produced the estimate based on data and geological
information supplied by European Metals. Mr Widenbar has sufficient experience
that is relevant to the style of mineralisation and type of deposit under
consideration and to the activity that he is undertaking to qualify as a
Competent Person as defined in the JORC Code 2012 Edition of the Australasian
Code for Reporting of Exploration Results, Minerals Resources and Ore
Reserves. Mr Widenbar has provided his prior written consent to the inclusion
in this report of the matters based on his information in the form and context
that the information appears. Mr Widenbar does not own any shares in the
Company and is not a participant in any short- or long-term incentive plans of
the Company.
The Company confirms that it is not aware of any new information or data that
materially affects the information included in the original market
announcement and, in the case of estimates of Mineral Resources or Ore
Reserves, that all material assumptions and technical parameters underpinning
the estimates in the relevant market announcement continue to apply and have
not materially changed. The Company confirms that the form and context in
which the Competent Person's findings are presented have not been materially
modified from the original market announcement.
CAUTION REGARDING FORWARD LOOKING STATEMENTS
Information included in this release constitutes forward-looking statements.
Often, but not always, forward looking statements can generally be identified
by the use of forward looking words such as "may", "will", "expect", "intend",
"plan", "estimate", "anticipate", "continue", and "guidance", or other similar
words and may include, without limitation, statements regarding plans,
strategies and objectives of management, anticipated production or
construction commencement dates and expected costs or production outputs.
Forward looking statements inherently involve known and unknown risks,
uncertainties and other factors that may cause the company's actual results,
performance, and achievements to differ materially from any future results,
performance, or achievements. Relevant factors may include, but are not
limited to, changes in commodity prices, foreign exchange fluctuations and
general economic conditions, increased costs and demand for production inputs,
the speculative nature of exploration and project development, including the
risks of obtaining necessary licences and permits and diminishing quantities
or grades of reserves, political and social risks, changes to the regulatory
framework within which the company operates or may in the future operate,
environmental conditions including extreme weather conditions, recruitment and
retention of personnel, industrial relations issues and litigation.
Forward looking statements are based on the company and its management's good
faith assumptions relating to the financial, market, regulatory and other
relevant environments that will exist and affect the company's business and
operations in the future. The company does not give any assurance that the
assumptions on which forward looking statements are based will prove to be
correct, or that the company's business or operations will not be affected in
any material manner by these or other factors not foreseen or foreseeable by
the company or management or beyond the company's control.
Although the company attempts and has attempted to identify factors that would
cause actual actions, events or results to differ materially from those
disclosed in forward looking statements, there may be other factors that could
cause actual results, performance, achievements or events not to be as
anticipated, estimated or intended, and many events are beyond the reasonable
control of the company. Accordingly, readers are cautioned not to place undue
reliance on forward looking statements. Forward looking statements in these
materials speak only at the date of issue. Subject to any continuing
obligations under applicable law or any relevant stock exchange listing rules,
in providing this information the company does not undertake any obligation to
publicly update or revise any of the forward looking statements or to advise
of any change in events, conditions or circumstances on which any such
statement is based.
LITHIUM CLASSIFICATION AND CONVERSION FACTORS
Lithium grades are normally presented in percentages or parts per million
(ppm). Grades of deposits are also expressed as lithium compounds in
percentages, for example as a percent lithium oxide (Li(2)O) content or
percent lithium carbonate (Li(2)CO(3)) content.
Lithium carbonate equivalent ("LCE") is the industry standard terminology for,
and is equivalent to, Li(2)CO(3). Use of LCE is to provide data comparable
with industry reports and is the total equivalent amount of lithium carbonate,
assuming the lithium content in the deposit is converted to lithium carbonate,
using the conversion rates in the table included below to get an equivalent
Li(2)CO(3) value in percent. Use of LCE assumes 100% recovery and no process
losses in the extraction of Li(2)CO(3) from the deposit.
Lithium resources and reserves are usually presented in tonnes of LCE or Li.
The standard conversion factors are set out in the table below:
Conversion Factors for Lithium Compounds and Minerals
Convert from Convert to Li Convert to Li(2)O Convert to Li(2)CO(3) Convert to LiOH.H(2)O
Lithium Li 1.000 2.153 5.325 6.048
Lithium Oxide Li(2)O 0.464 1.000 2.473 2.809
Lithium Carbonate Li(2)CO(3) 0.188 0.404 1.000 1.136
Lithium Hydroxide LiOH.H(2)O 0.165 0.356 0.880 1.000
Lithium Fluoride LiF 0.268 0.576 1.424 1.618
WEBSITE
A copy of this announcement is available from the Company's website at
www.europeanmet.com/announcements/ (http://www.europeanmet.com/announcements/)
.
ENQUIRIES:
European Metals Holdings Limited
Keith Coughlan, Executive Chairman
Kiran Morzaria, Non-Executive Director Tel: +61 (0) 419 996 333
Email: keith@europeanmet.com
Henko Vos, Company Secretary
Tel: +44 (0) 20 7440 0647
Tel: +61 (0) 400 550 042
Email: cosec@europeanmet.com
Zeus (Nomad & Broker)
James Joyce / Darshan Patel / Gabriella Zwarts Tel: +44 (0) 203 829 5000
(Corporate Finance)
Harry Ansell (Broking)
BlytheRay (Financial PR) Tel: +44 (0) 20 7138 3222
Tim Blythe
Megan Ray
Chapter 1 Advisors (Financial PR - Aus)
David Tasker Tel: +61 (0) 433 112 936
The information contained within this announcement is deemed by the Company to
constitute inside information under the Market Abuse Regulation (EU) No.
596/2014 ("MAR") as it forms part of UK domestic law by virtue of the European
Union (Withdrawal) Act 2018 and is disclosed in accordance with the Company's
obligations under Article 17 of MAR.
Appendix 5B
Mining exploration entity or oil and gas exploration entity
quarterly cash flow report
Name of entity
European Metals Holdings Limited (ASX: EMH)
ABN Quarter ended ("current quarter")
55 154 618 989 31 December 2024
Consolidated statement of cash flows Current quarter Year to date
$A'000
(6 months)
$A'000
1. Cash flows from operating activities - -
1.1 Receipts from customers
1.2 Payments for - -
(a) exploration & evaluation
(b) development - -
(c) production - -
(d) staff costs (280) (442)
(e) administration and corporate costs (550) (1,220)
1.3 Dividends received (see note 3) - -
1.4 Interest received 188 377
1.5 Interest and other costs of finance paid - -
1.6 Income taxes paid - -
1.7 Government grants and tax incentives - -
1.8 Other (Cinovec associated costs) - -
1.9 Net cash used in operating activities (642) (1,285)
2. Cash flows from investing activities - -
2.1 Payments to acquire or for:
(a) entities
(b) tenements - -
(c) property, plant and equipment - -
(d) exploration & evaluation - -
(e) investments - -
(f) other non-current assets - -
2.2 Proceeds from the disposal of: - -
(a) entities
(b) tenements - -
(c) property, plant and equipment - -
(d) investments - -
(e) other non-current assets - -
2.3 Cash flows from loans to other entities - -
2.4 Dividends received (see note 3) - -
2.5 Other - -
2.6 Net cash from / (used in) investing activities - -
3. Cash flows from financing activities - -
3.1 Proceeds from issues of equity securities (excluding convertible debt
securities)
3.2 Proceeds from issue of convertible debt securities - -
3.3 Proceeds from exercise of options - -
3.4 Transaction costs related to issues of equity securities or convertible debt - -
securities
3.5 Proceeds from borrowings - -
3.6 Repayment of borrowings - -
3.7 Transaction costs related to loans and borrowings - -
3.8 Dividends paid - -
3.9 Other (Lease Payments) (15) (33)
3.10 Net cash used in financing activities (15) (33)
4. Net increase / (decrease) in cash and cash equivalents for the period
4.1 Cash and cash equivalents at beginning of period 4,111 4,727
4.2 Net cash from / (used in) operating activities (item 1.9 above) (642) (1,285)
4.3 Net cash from / (used in) investing activities (item 2.6 above) - -
4.4 Net cash from / (used in) financing activities (item 3.10 above) (15) (33)
4.5 Effect of movement in exchange rates on cash held 70 115
4.6 Cash and cash equivalents at end of period 3,524 3,524
5. Reconciliation of cash and cash equivalents Current quarter Previous quarter
at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts
$A'000
$A'000
5.1 Bank balances 1,768 2,361
5.2 Call deposits 1,756 1,750
5.3 Bank overdrafts - -
5.4 Term deposit less than 3 months - -
5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 3,524
4,111
6. Payments to related parties of the entity and their associates Current quarter
$A'000
6.1 Aggregate amount of payments to related parties and their associates included 237
in item 1
6.2 Aggregate amount of payments to related parties and their associates included -
in item 2
Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity
report must include a description of, and an explanation for, such payments.
Amounts paid to directors as director remuneration. Included in 6.1 are also
payments to Nexia Perth Pty Ltd (a company in which a spouse of a director is
a key management personnel), for company secretarial support, accounting,
bookkeeping and tax fees of $54k.
7. Financing facilities Total facility amount at quarter end Amount drawn at quarter end
Note: the term "facility' includes all forms of financing arrangements available to the entity.
$A'000
$A'000
Add notes as necessary for an understanding of the sources of finance available to the entity.
7.1 Loan facilities - -
7.2 Credit standby arrangements - -
7.3 Other (please specify) - -
7.4 Total financing facilities - -
7.5 Unused financing facilities available at quarter end -
7.6 Include in the box below a description of each facility above, including the
lender, interest rate, maturity date and whether it is secured or unsecured.
If any additional financing facilities have been entered into or are proposed
to be entered into after quarter end, include a note providing details of
those facilities as well.
8. Estimated cash available for future operating activities $A'000
8.1 Net cash from / (used in) operating activities (item 1.9) (642)
8.2 (Payments for exploration & evaluation classified as investing activities) -
(item 2.1(d))
8.3 Total relevant outgoings (item 8.1 + item 8.2) (642)
8.4 Cash and cash equivalents at quarter end (item 4.6) 3,524
8.5 Unused finance facilities available at quarter end (item 7.6) -
8.6 Total available funding (item 8.4 + item 8.5) 3,524
8.7 Estimated quarters of funding available (item 8.6 divided by item 8.3) 5.49
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8.8 If item 8.7 is less than 2 quarters, please provide answers to the following
questions:
8.8.1 Does the entity expect that it will continue to have the current
level of net operating cash flows for the time being and, if not, why not?
Answer: N/A
8.8.2 Has the entity taken any steps, or does it propose to take any
steps, to raise further cash to fund its operations and, if so, what are those
steps and how likely does it believe that they will be successful?
Answer: N/A
8.8.3 Does the entity expect to be able to continue its operations and
to meet its business objectives and, if so, on what basis?
Answer: N/A
Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2
and 8.8.3 above must be answered.
Compliance statement
1 This statement has been prepared in accordance with accounting
standards and policies which comply with Listing Rule 19.11A.
2 This statement gives a true and fair view of the matters
disclosed.
Date: 31 January 2025
Authorised by: The Board
(Name of body or officer authorising release - see note 4)
Notes
1. This quarterly cash flow report and the accompanying
activity report provide a basis for informing the market about the entity's
activities for the past quarter, how they have been financed and the effect
this has had on its cash position. An entity that wishes to disclose
additional information over and above the minimum required under the Listing
Rules is encouraged to do so.
2. If this quarterly cash flow report has been prepared in
accordance with Australian Accounting Standards, the definitions in, and
provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and
AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash
flow report has been prepared in accordance with other accounting standards
agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent
standards apply to this report.
3. Dividends received may be classified either as cash flows
from operating activities or cash flows from investing activities, depending
on the accounting policy of the entity.
4. If this report has been authorised for release to the
market by your board of directors, you can insert here: "By the board". If it
has been authorised for release to the market by a committee of your board of
directors, you can insert here: "By the [name of board committee - eg Audit
and Risk Committee]". If it has been authorised for release to the market by a
disclosure committee, you can insert here: "By the Disclosure Committee".
5. If this report has been authorised for release to the
market by your board of directors and you wish to hold yourself out as
complying with recommendation 4.2 of the ASX Corporate Governance Council's
Corporate Governance Principles and Recommendations, the board should have
received a declaration from its CEO and CFO that, in their opinion, the
financial records of the entity have been properly maintained, that this
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. END UPDEAXFFDFPSEEARecent news on European Metals Holdings
See all newsREG - European Metals Hldg - Notice of AGM
AnnouncementREG - European Metals Hldg - Quarterly Activities/Appendix 5B Cash Flow Report
AnnouncementREG - European Metals Hldg - USD 36m JTF Grant Approved for Cinovec Project
AnnouncementREG - European Metals Hldg - Corporate Governance Statement
AnnouncementREG - European Metals Hldg - Transitional Annual Report to Shareholders
Announcement