Highlights

  • European Metals shares were trading near A$0.14 on 9 November 2026, down 12.5%, giving a Market Value of A$33.29 million.
  • An updated preliminary Mining permit for Cinovec-III South runs for eight years to 2033 and covers 1.4807 square kilometres.
  • Combined with existing permits valid to 2028, the permits cover the entire Cinovec ore reserve, according to the company.
  • The Cinovec resource totals 7.39 million tonnes of lithium carbonate equivalent, with a probable reserve of 34.5 million tonnes.

European Metals Holdings Limited (ASX:EMH) shares were trading near A$0.14 on 9 November 2026, down 12.5% on the session, with a Market Capitalisation of roughly A$33.29 million. The stock has fallen about 42% over twelve months. The most recent ASX-hosted filing reviewed for this article is the announcement of 5 August 2025 on the Cinovec South mining permit. That document pre-dates today's trading by more than a year and does not explain today's move. It is used here to outline the Cinovec project as described at that date.

The Updated Preliminary Mining Permit

The company's subsidiary, Geomet s.r.o., received an updated Preliminary Mining Permit from the Czech Ministry of the Environment for the southern part of the Cinovec deposit, known as Cinovec-III South. The permit runs for eight years to 2033 and covers 1.4807 square kilometres.

It is a prerequisite for a Final Mining Permit and gives the company priority rights to apply for a Final Mining Area and Final Mining Permit. Executive Chairman Keith Coughlan said the company welcomed the grant.

Coverage of the Ore Reserve

Together with the existing Cinovec Northwest and Cinovec-East permits, which are valid to 2028, the permits cover the entire Cinovec ore reserve. The company plans to merge the three preliminary permits into one, which would streamline the application for a single Final Mining Area and Final Mining Permit.

Resource, Reserve and Ownership

The October 2021 mineral resource comprises 53.3 million tonnes measured at 0.48% lithium oxide, 360.2 million tonnes indicated at 0.44% and 294.7 million tonnes inferred at 0.39%. In total, that equals 7.39 million tonnes of lithium carbonate equivalent.

The 2017 probable ore reserve is 34.5 million tonnes at 0.65% lithium oxide, supporting 20 years of production at 22,500 tonnes a year of lithium carbonate. Geomet is owned 49% by European Metals and 51% by CEZ a.s., the Czech energy group in which the Czech state holds about 70%.

Strategic Status and Project Plans

Cinovec is designated an EU Strategic Project under the Critical Raw Materials Act and a Czech Strategic Deposit. A trial underground operation previously mined more than 400,000 tonnes of ore.

A processing plant is planned at the Prunéřov 1 Power Station site, about 59 kilometres from the mine by rail. Metallurgical testwork has produced battery-grade lithium hydroxide and carbonate. DRA Global was appointed in February 2023 to complete the definitive feasibility study, and no completion date was given.

Outlook and Qualifiers

The announcement contained no funding or capital-raising details. It carried forward-looking statements and noted permitting and Commodity price risks, and the lithium carbonate equivalent figure assumes full recovery with no process losses. This outlook reflects the position in August 2025, so investors should check the company's latest ASX announcements for feasibility and funding progress.