Rare Earth Minerals plc (LON:REM) has revealed that cost estimates at the Cinovec lithium-tin project in Czechoslovakia have been significantly reduced.
Rare Earths holds a 16.4% stake in European Metals Holdings Limited (LON:EMH), which owns Cinovec.
EMH said that it had cut overall capital costs by US$85 mln, or 33%, and that these savings would be included in an improved pre-feasibility study.
Shares in EMH rose by just under 2% in early trade on the news to 38.5p, but have risen more than fourfold since the spring as the market has woken up to the attractions of lithium.
Rare Earths, meanwhile, was steady at 0.76p.