(Alliance News) - European Metals Holdings Ltd on Thursday said DRA Global Ltd has been appointed to complete its definitive feasibility study for its Cinovec project in the Czech Republic.
European Metals is a mineral exploration and development company focused on the Cinovec lithium-tin project for the production of batteries for electric vehicles.
The company said DRA has the "necessary capacity, expertise and track record to deliver the Cinovec DFS in a timely and efficient manner," and is aiming to complete the DFS in the fourth quarter of 2023.
DRA's appointment reflects the "tremendous prospectivity and value" of the Cinovec project, the company said. European Metals added that the Cinovec project's team will collaborate with DRA on the study.
DRA is a engineering services and project development company based in Australia.
Chair Keith Coughlan said: "We are pleased to have secured a company of DRA's calibre, with a proven track record of delivering critical pieces of work like the Cinovec DFS in a timely and efficient manner.
"European Metals is well positioned for the rising demand in battery materials, developing the Cinovec project, the largest hard rock lithium project in the EU."
European Metals shares were up 3.8% trading at 41.00 pence per share on Thursday afternoon in London.
By Harvey Dorset, Alliance News reporter
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European Metals Holdings (EMH)