European Metals Holdings Ltd - Perth, Australia-based mineral exploration and development company - European Bank for Reconstruction & Development agrees to invest €6 million to support European Metals’ Cinovec lithium project north-west of Prague. Company will issue 12.3 million shares to EBRD at A$0.803 or £0.423 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%

Copyright 2023 Alliance News Ltd. All Rights Reserved.