European Metals Holdings Ltd said the Definitive Feasibility Study (DFS) for its Cinovec lithium project in the Czech Republic has been pushed back into the first quarter of 2024.

A formal request was made by the study’s consultants for a timetable extension to complete capital and operating cost estimation and project implementation scheduling, said the statement. 

“The process flowsheet remains as announced on 31 October 2022 and confirmed in pilot testing results announced on 9 November 2023,” the statement added.

“However, further development of specific areas relating to engineering, commercial and strategic elements across mining, processing, procurement and logistics are expected to have a considerable impact on both capital and operating cost estimates and Geomet's social licence to operate.”

EMH added that accurate and comprehensive engineering and cost data is crucial for the DFS.

“In this regard, the company believes it is prudent to allow the necessary time to complete the study to the highest standard to ensure the delivery of a robust, accurate DFS that conveys the full economic and resource potential of the project.

“The company does not expect that the extension of the study period will impact the overall project timeline, with the permitting process already well underway."

Cinovec is one of very few advanced-stage, large-scale lithium projects in the European Union with a mineral resource of nearly 7.4 million tonnes of contained lithium carbonate equivalent.

The project is being developed by Geomet, a joint venture between EMH and Czech-state-owned CEZ.