Highlights

  • European Metals receives conditional approval for up to EUR 360m in Czech government funding.
  • Funding relates to development of the Cinovec Lithium Project, subject to administrative completion.
  • The project is supported under EU and Czech critical raw materials frameworks.

European Metals Holdings Limited (ASX:EMH) has announced that its project subsidiary, Geomet s.r.o., has been informed of a conditional grant award of up to EUR 360 million (AUD 645 million) from the Czech Republic’s Ministry of Industry and Trade. The funding approval is subject to the completion of formal administrative processes required for final confirmation.

Grant Structure and Programme Framework

The funding falls under the Strategic Investments for a Climate-Neutral Economy programme, which supports large-scale investments linked to the transition toward climate neutrality. The programme aligns with the European Commission’s Temporary Crisis and Transition Framework and focuses on projects involving critical raw materials, key industrial equipment, and associated supply chains.

The final grant amount will be confirmed upon formal award and may be lower than the maximum approved amount. Support will take the form of a special-purpose subsidy paid in Czech koruna, reimbursing eligible capital expenditure incurred during project execution.

Funding Parameters and Conditions

Under the programme, the maximum aid intensity permitted is up to 35% of eligible project costs, based on regional investment criteria within designated Czech cohesion regions. Grant drawdowns are expected to occur annually, subject to project-status reporting and validation of eligible expenditure.

Payments would be made within 60 days of approved submissions, and assets supported by the grant, as well as newly created jobs, are required to be maintained for at least five years following project completion. The overall funding window allows for project completion by 31 December 2032.

Strategic Recognition of Cinovec

The Cinovec Lithium Project has received recognition at both European Union and national levels. It has been designated a Strategic Project by the European Commission under the EU Critical Raw Materials Act, providing access to streamlined permitting processes and certain funding mechanisms. At the national level, the Czech government has classified Cinovec as a Strategic Deposit, allowing prioritised permitting under local regulatory frameworks.

Project Ownership and Background

Geomet s.r.o., which holds the Cinovec exploration and mining licences, is jointly owned by European Metals Holdings (49%) and CEZ a.s. (51%), through its subsidiary SDAS. Cinovec is recognised as the largest hard rock lithium deposit in the European Union, with mineral resources supporting long-term production planning.

Share Price Snapshot

EMH was trading 75.0% higher at AUD 0.420 per share as of 28 November 2025.