European Metals Holdings Limited (LON:EMH) shares rose on Wednesday after the group confirmed it has received a purported indicative offer to "purchase the lithium mining and processing project at Cinovec" on behalf of the Ceske Litihium company, part of Krupa Global Investments (KGI).
In a statement, the AIM-listed firm said it received a letter from KGI on 15 January 2019 purporting to make the indicative offer for the project at Cinovec, which is in the Czech Republic. However, it did not contain any details with regards to price, terms or conditions.
The company added: “In light of the absence of this information European Metals does not consider this to be an offer to which it can give consideration at this time.”
European Metals said it was making the announcement as it has become aware that KGI has released its letter to the Czech Press.
The group confirmed that it has had no discussion with KGI on this matter.
In late morning trading, shares in European Metal Holdings were 15.6% higher at 18.50p.