Last checked at 3 May 2016 07:15
Rare Earth Minerals Plc
("Rare Earth Minerals", "REM" or "the Company")
European Metals Holdings signs licencing agreement option for L-Max technology for Cinovec Project in the Czech Republic
European Metals Holdings Limited ("EMH"), in which REM owns a 19.8% shareholding, has announced that it has entered into a licensing agreement option to utilize the L-Max technology directly with the owner and developer of the process, Lepidico Limited. EMH is an Australian and UK listed mineral exploration and development company advancing the Cinovec Lithium/Tin Project in the Czech Republic.
The full EMH announcement can be found at: http://www.asx.com.au/asxpdf/20160502/pdf/436yc8kqz51882.pdf
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· The L-Max technology has been successfully used in EMH's Scoping Study on Cinovec ore, a summary of the key findings are set out below:
o Battery grade lithium carbonate (99.56%) was precipitated from samples of Cinovec ore;
o Potassium sulphate also successfully precipitated
o Estimated operating costs of approximately US$ 1,500 per tonne of lithium carbonate produced after only potassium sulphate credits.
o After tin and tungsten credits operating costs are anticipated to reduce further.
· Adds a further option to metallurgical process route to be investigated as part of the current Preliminary Feasibility Study on Cinovec.
Andrew Suckling, Non-executive director of REM, commented:
"We are very pleased that EMH have entered into this option with Lepidico, this technology has already demonstrated excellent economic parameters for the project and we look forward to hearing further results from this work as well as the continued work with Dorfner Anzaplan, which is being in run parallel"
Qualified Person:
Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance).
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For further information, please contact:
Rare Earth Minerals plc
Andrew Suckling +1 (212) 933 9007
Kiran Morzaria +44 (0) 207 440 0647
WH Ireland Limited (NOMAD & Broker) +44 (0) 207 220 1666
James Joyce
Mark Leonard
Square1 Consulting +44 (0) 207 929 5599
David Bick
Brain Alexander