European Metals Holdings Ltd - Perth, Australia-based mineral exploration and development company - European Bank for Reconstruction & Development agrees to invest EUR6 million to support European Metals' Cinovec lithium project north-west of Prague. Company will issue 12.3 million shares to EBRD at AUD0.803 or GBP0.423 each.
European Metals Executive Chair Keith Coughlan says: "The EBRD investment aims to fund the project's predevelopment work and opens a pathway to potentially securing project financing... [It] is confirmation that the Cinovec project is a vital part of establishing a strong, sustainable European electric vehicle battery supply chain to support Europe's accelerating transition to e-mobility."
Current stock price: 46.65 pence, up 9.8% in London on Friday
12-month change: up 6.0%
By Emma Curzon, Alliance News reporter
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European Metals Holdings (EMH)