Cadence Minerals PLC (LON:KDNC) Update – European Metals Holdings

European Metals (AIM: EMH) Cinovec Project Update – Battery Grade Lithium Hydroxide Sample Produced.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the Cinovec Project update published today by European Metals Holdings Limited (“European Metals” or “EMH”) highlighting the outcomes from a recently completed engineering assessment of the flowsheet and subsequent testwork aimed at demonstrating the ability to produce lithium hydroxide from Cinovec ore. The move by the company to develop a process for the production of lithium hydroxide from the Cinovec project is in response to market forces that continue to move Czech and European manufacturers towards the production of advanced technology batteries.

Highlights:

· Flowsheet successfully developed and tested for the production of lithium hydroxide from Cinovec ore.

· A potential production rate in excess of 25,000 t/a lithium hydroxide has been demonstrated to be possible utilising a robust process route proven in the lithium production sector.

· A formal update of the project PFS reflecting the production of lithium hydroxide is underway and will be completed within the next 6 weeks.

The data produced from the engineering assessment and associated testwork is now being used as the foundation for an update of the PFS such that the final product from the process will be battery grade lithium hydroxide with the option to produce battery grade lithium carbonate should the market support both products.

Cadence holds approximately 19.1 percent of the equity in European Metals, which, through its wholly owned Subsidiary, Geomet s.r.o., controls the mineral exploration licenses awarded by the Czech State over Cinovec.

The full release can be found at: https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/EMH/14024475.html

Cadence Minerals Chairman Andrew Suckling commented: “Today’s news confirms that EMH have taken another step along the road to producing battery grade lithium hydroxide. As CEO Keith Coughlan says, it is an exciting development that will enable the Company to supply its final product into the European marketplace. We are also impressed by the potential production rate numbers quoted by EMH, and we look forward to the updated PFS results.”

 

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