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RNS Number : 8606R  European Metals Holdings Limited  31 October 2023

For immediate release

31 October 2023

QUARTERLY ACTIVITIES REPORT

September 2023

 

European Metals Holdings Limited (ASX & AIM: EMH, OTCQX: EMHXY, ERPNF and
EMHLF) ("European Metals" or the "Company") is pleased to provide an update on
its activities during the three-month period ending 30 September 2023 (the
"Period") highlighting the continued progress in the development of the
globally significant Cinovec Lithium Project ("the Project" or "Cinovec") in
the Czech Republic.

Strategic investment from European Bank for Reconstruction and Development
("EBRD")

The Company announced a strategic investment of €6 million by EBRD to
support the development of the Cinovec Project.  The investment was
implemented by way of a private placement of 12,315,213 shares in the capital
of the Company at a price of £0.423 per share (being AUD0.803 per share).
As part of the due diligence process, EBRD engaged an independent,
international mining consultancy to undertake a technical review of the
Cinovec Project.  EBRD also performed a review of the project in respect to
compliance with EBRD's Environmental and Social Policy.  Refer to ASX/AIM
Announcement dated 21 July 2023.

ERBD's investment and expertise will be beneficial to the Company as the
Cinovec Project moves through permitting, project financing, and completing
its Definitive Feasibility Study ("DFS").

Natalia Lacorzana, Head of Natural Resources at EBRD said: "We are pleased to
support the Cinovec project, the first lithium project financed by the Bank,
on its path to become a responsibly mined source of battery grade lithium for
Europe. EBRD is committed to supporting the global transition to a green
economy, the move towards wider adoption of electric vehicles, in particular,
via providing necessary funding and know-how to junior miners of critical
and/or strategic raw materials."

The Company's relationship with EBRD is expected to be highly strategic as the
European Union charts a path towards greater lithium supply security and
sustainability. Support for the Cinovec Project aligns with these EU goals. In
connection with the Placement, European Metals and EBRD have an agreement
whereby, subject to certain conditions, the EBRD has been granted rights that
allow participation in future financings to maintain its pro rata equity
interest in the Company. The agreements also provide for the Cinovec Project
to be developed according to EBRD's Environmental and Social Policy. The
proceeds from the Placement will be used to assist in funding pre-development
works and studies for the Cinovec Project including environmental works and
working capital expenditures for the period up to the completion of the DFS

About the European Bank for Reconstruction and Development

The EBRD is an international financial institution established in 1991 to
foster the economic transition process and to promote private and
entrepreneurial initiative in its countries of operations including Central
and Eastern Europe, former Soviet Union and Eastern Mediterranean through
provision of loans, equity investments, conducting policy dialogue and
providing technical cooperation. It has since played a transformative role and
gained unique expertise in fostering change in the region - and beyond -
investing €170 billion in more than 6,400 projects including nearly EUR 3bn
in some 70 mining projects across 15 countries of operation.

Cinovec Project Definitive Feasibility Study

A DFS is currently being undertaken on the Cinovec Project managed by DRA
Global Limited.  The DFS is on track for completion in Q4 2023.

CORPORATE AND ADMINISTRATION

QUARTERLY CASHFLOW REPORT

In accordance with the ASX Listing Rules, the Company will also today lodge
its cashflow report for the Period.  Included in those cashflows is a cash
outflow for Cinovec associated costs of $10k in respect of the Company's
investment in the Cinovec Lithium Project in the Czech Republic.

The Company's total cash is $4.5 million as at 30 September 2023. In
addition, the Company has raised approximately AUD940,000 by way of option
exercise subsequent to the Period.

PAYMENTS TO RELATED PARTIES

As outlined in the attached Appendix 5B (section 6.1), during the Period
approximately $220k 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 are to be reimbursed directly
from Geomet.

CORPORATE ACTIVITY

On 23 August 2023, the Company issued 12,315,213 DIs on completion of the
placement to EBRD.

In addition, the Company issued 400,000 CDIs on exercise of 400,000 unlisted
options (AUD0.45; 23 October 2023) on 7 September 2023, raising
approximately AUD180,000.

Subsequent to the Period, the Company issued 200,000 CDIs on exercise of
200,000 unlisted options (AUD0.45; 23 October 2023) on 20 October 2023.
The Company issued a further 2,024,000 CDIs on exercise of 2,024,000 unlisted
options (AUD0.42; 23 October 2023) on 25 October 2023.  The exercise of
these options raised approximately AUD940,000.

The Company advises that it intends to move its registered office in Australia
to the following address effective 15 November 2023:

                Ground Floor, 41 Colin Street, West Perth WA
6005

Telephone numbers and postal address remain unchanged.

 

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.

 

 

 

 

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 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 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
fifth largest non-brine deposit in the world.

On 19 January 2022, EMH provided an update to the 2019 PFS Update, conducted
by specialist independent consultants which, based upon the production of
29,386tpa of lithium hydroxide, indicates a post-tax NPV of USD1.938B and a
post-tax IRR of 36.3% and confirmed that the Cinovec Project is a potential
low operating cost producer of battery-grade lithium hydroxide or battery
grade lithium carbonate as markets demand. It confirmed the deposit is
amenable to bulk underground mining (refer to the Company's ASX 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. 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.
As the deposit lies in an active mining region, it has strong community
support.

The economic viability of Cinovec has been enhanced by the recent strong
increase in demand for lithium globally, and within Europe specifically.

There are no other material changes to the original information and all the
material assumptions continue to apply to the forecasts.

 

BACKGROUND INFORMATION ON CEZ

Headquartered in the Czech Republic, CEZ a.s. is an established, integrated
energy group with operations in a number of Central and South-eastern
European countries and Turkey. 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. CEZ Group is one of the ten largest
energy companies in Europe, has more than 28,000 employees and annual revenue
of approximately EUR 11.39 billion.

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 capitalization is approximately EUR 20.5
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.

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.

COMPETENT PERSON

Information in this announcement relating to the FECAB metallurgical testwork
is based on technical data compiled or supervised by Mr Walter Mädel, a
full-time consultant to Geomet s.r.o the Cinovec project 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
information 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 announcement relating to the LCP metallurgical testwork is
based on technical data compiled or supervised by Mr Grant Harman (B.Sc Chem
Eng, B.Com). Mr Harman is an independent consultant with in excess of 7 years
of lithium chemicals experience. Mr Harman supervised and reviewed the
metallurgical test work and the process design criteria and flow sheets in
relation to the LCP.  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 information in this report is extracted from ASX announcements made by EMH
on  13 October 2021 "Resource Upgrade at Cinovec Lithium Project", 19 January
2022 "PFS Update delivers outstanding results" and 31 October 2022 "Simplified
Extraction Process delivers exceptionally-clean battery-grade lithium product
with improved economics" which are available to view on the Company's website:
europeanmet.com. 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

The Company has concluded that it has a reasonable basis for providing the
forward-looking statements and the forecast financial information included in
this ASX release. While the Company considers the assumptions to be based on
reasonable grounds, there is no certainty that they will prove to be correct
or that the range of outcomes indicated by LCA will be achieved. This ASX
release has been prepared in compliance with the current JORC Code (2012) and
the ASX Listing Rules.

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 4 below:

Table 2: Conversion Factors for Lithium Compounds and Minerals

 

 Convert from                   Convert to Li  Convert to Li2O  Convert to Li2CO3  Convert to LiOH.H2O
 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

 

 

 

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      30 Sept 2023

 

 Consolidated statement of cash flows                                                               Current quarter                 Year to date

$A'000

                                                                                                                                    (3 months)

$A'000
 1.                   Cash flows from operating activities                                          -                               -
 1.1                  Receipts from associate
 1.2                  Payments for                                                                  -                               -
                      (a)   exploration & evaluation
                      (b)   development                                                             -                               -
                      (c)   production                                                              -                               -
                      (d)   staff costs                                                             (305)                           (305)
                      (e)   administration and corporate costs                                      (1,302)                         (1,302)
 1.3                  Dividends received (see note 3)                                               -                               -
 1.4                  Interest received                                                             95                              95
 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)                                              (10)                            (10)
 1.9                  Net cash from / (used in) operating activities                                (1,522)                         (1,522)

 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                                                             (2,947)                         (2,947)
                      (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 (provide details if material)                                           -                               -
 2.6                  Net cash from / (used in) investing activities                                (2,947)                         (2,947)
 Item in 2.1(e) relates to equity contribution to Geomet for the purposes of
 funding the development of the Cinovec Project.

 3.                   Cash flows from financing activities                                          180                             180
 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  (27)                            (27)
                      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)                                                        (10)                            (10)
 3.10                 Net cash from / (used in) financing activities                                143                             143

 4.                   Net increase / (decrease) in cash and cash equivalents for the period
 4.1                  Cash and cash equivalents at beginning of period                              8,893                           8,893
 4.2                  Net cash from / (used in) operating activities (item 1.9 above)               (1,522)                         (1,522)
 4.3                  Net cash from / (used in) investing activities (item 2.6 above)               (2,947)                         (2,947)
 4.4                  Net cash from / (used in) financing activities (item 3.10 above)              143                             143
 4.5                  Effect of movement in exchange rates on cash held                             (49)                                             (49)
 4.6                  Cash and cash equivalents at end of period                                                 4,518                                        4,518
 The Company received a further $940,000 from exercise of options subsequent to
 the quarter end.

 

 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                                                                                                                        4,518              6,758
 5.2  Call deposits                                                                                                           -                               2,135
 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)                                               4,518

                                                                                                                                                              8,893

 
 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  220
      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. A portion of these
 expenses are to be reimbursed directly from Geomet. Included in 6.1 are also
 payments to Nexia Perth Pty Ltd for company secretarial support, accounting
 and bookkeeping fees of $49.1k, being companies of which a spouse of a
 director is key management personnel.

 

 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)                       (1,522)
 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)                                  (1,522)
 8.4  Cash and cash equivalents at quarter end (item 4.6)                             4,518
 8.5  Unused finance facilities available at quarter end (item 7.6)                   -
 8.6  Total available funding (item 8.4 + item 8.5)                                   4,518

 8.7  Estimated quarters of funding available (item 8.6 divided by item 8.3)          2.97
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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 October 2023

 

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
report complies with the appropriate accounting standards and gives a true and
fair view of the cash flows of the entity, and that their opinion has been
formed on the basis of a sound system of risk management and internal control
which is operating effectively.

 

 

WEBSITE

A copy of this announcement is available from the Company's website at
www.europeanmet.com.

ENQUIRIES:

 European Metals Holdings Limited

 Keith Coughlan, Executive Chairman          Tel: +61 (0) 419 996 333

                                             Email: keith@europeanmet.com (mailto:keith@europeanmet.com)

 Kiran Morzaria, Non-Executive Director      Tel: +44 (0) 20 7440 0647

 Shannon Robinson, Company Secretary         Tel: +61 (0) 418 675 845

                                             Email: shannon@europeanmet.com (mailto:shannon@europeanmet.com)

 WH Ireland Ltd (Nomad & Broker)

 James Joyce/Darshan Patel / Isaac Hooper    Tel: +44 (0) 20 7220 1666

 (Corporate Finance)

 Harry Ansell (Broking)

 Panmure Gordon (UK) Limited (Joint Broker)

 John Prior                                  Tel: +44 (0) 20 7886 2500

 Hugh Rich

 James Sinclair Ford

 Harriette Johnson

 Blytheweigh (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 considered to be inside
information, for the purposes of Article 7 of EU Regulation 596/2014, prior to
its release.  The person who authorised for the release of this announcement
on behalf of the Company was Keith Coughlan, Executive Chairman.

 

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