Keith Coughlan spoke with Share Talk about European Metals Holdings RNS announcement.
EMH raises $3M from Largest Shareholder, European Metals Holdings Limited (“European Metals” or “the Company”) is pleased to announce that it conditionally raised A$2.6 million from its largest shareholder, Rare Earth Minerals Plc (“REM”).
REM has been the largest shareholder of European Metals since July 2015, and has steadily increased its shareholding via placements and on market purchases. REM’s current market capitalisation is approximately £ 55 million.
As REM is currently a 16.4% per cent shareholder in the Company.
European Metals Managing Director, Keith Coughlan commented on the capital raising :
“It is very pleasing to have Rare Earth Minerals’ ongoing support from both financial and technical perspectives. Having strong major shareholders with aligned vision of Cinovec’s potential enables us to keep our issued capital under check. It has also allowed European Metals to assert itself strategically within the lithium industry. We look forward to the future growth this will bring. This funding ensures that the Company will remain in a strong financial position beyond the PFS.”