European Metals (EMH) Cinovec Lithium Carbonate Production Modelled to Increase to 22,500 TPA
· Average lithium carbonate production increased from 20,800 tpa to 22,500 tpa due to improved recoveries in the leach circuit of 94% being modelled.
· Increased lithium production results in increased cash margins of approximately 10%
· Low cost waste gypsum from local power plants now utilized as a roasting reagent is a significant positive environmental outcome for the region and a reagent cost benefit to the project.
· Locked cycle testing and larger scale roasting technology confirmation work to commence imminently.
· Preparation of 3 tonnes of lithium concentrate via magnetic separation for lithium carbonate pilot plant trials almost complete.
In addition, Cadence also notes comments from European Metals MD
Cadence owns approximately 20% of the equity in European Metals Holdings.
The full release can be found at: https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/EMH/13712961.html
"That the optimisation tests conducted by European Metals are already showing a significant improvement in Lithium recovery and increased cash margins is not only great news for the EV industry but could in future help to meet any lithium supply shortfall if, as we expect, there is a sustained increase in demand."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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Cadence is dedicated to smart investments for a greener world. The planet needs rechargeable batteries on a global scale - upcoming supersized passenger vehicles, lorries and buses - require lithium and other technology minerals to power their cells. Cadence is helping find these minerals in new places and extracting them in new ways, which will meet the demand of this burgeoning market. With over
Cadence invests across the globe, principally in lithium mining projects. Its primary strategy is taking significant economic stakes in upstream exploration and development assets within strategic metals. We identify assets that have strategic cost advantages that are not replicable, with the aim of achieving lower quartile production costs. The combination of this approach and seeking value opportunities allows us to identify projects capable of achieving high rates of return.
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