The Czech state power utility CEZ has agreed to stump up £25.6mln for a 51% stake in the Cinovec battery-grade lithium project
European Metals Holdings Limited () has sent out a notice ahead of its shareholder meeting to approve a £25.6mln investment in the company’s Cinovec battery-grade lithium project.
The Czech state power utility CEZ has agreed to plough in the cash. The formal notice being circulated to investors outlines the full details of the funding obligations and right of CEZ to withdraw from the project on reaching one of two “specified milestones”.
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