European Metals Holding reports maiden ore reserve for Cinovec

SEATTLE (ITRI.CO.UK): European Metals Holdings Limited has reported a maiden ore reserve for its Cinovec Lithium-Tin Project in the Czech Republic.

The JORC-compliant probable ore reserve is based on a Preliminary Feasibility Study (PFS) completed in April this year and totals 34.5 million tonnes of ore containing 0.30% lithium and 0.09% tin, or 103,500 tonnes of lithium and 31,050 tonnes of tin contained, as well as smaller volumes of tungsten.

The project was envisaged in a recent 2017 PFS as an underground mine operation operating over a mine life of 21 years. It is projected to process an average of 1.7 Mtpa of ore and 20,800 tonnes of battery-grade lithium during the period of operation as well as producing tin and tungsten concentrates as by-products. Capital costs for the project are estimated at $393 million.

ITRI View: While the PFS does not specify estimated tin output over this 21-year mine life it has highlighted the recovery of tin from waste streams as an important source of revenue. Based on the annual ore processing estimates and assuming 65% tin recovery, we estimate potential tin-in-concentrate production of some 1,000tpa, lower than the 4,200tpa figure suggested in the companies conceptual scoping study for the project published in 2015.

Courtesy: www. itri.co.uk