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Where are they now?...

CINOVEC
Location: Czech Republic
Company: European Metals Holdings Ltd
Status: Updated PFS published June 2019
Comment: While a hung parliament following the October 2017 Czech
election placed a cloud over the future of the project for an extended period,
it has been largely positive news for the Keith Coughlan-led company for
more than 12 months now. Last year’s update to the original PFS confirmed
Cinovec was capable of producing battery-grade lithium hydroxide, while
a potential strategic partnership with European power utility CEZ Group is
poised to deliver a €$55 million investment that would see the project fully
funded through to a construction decision.

SAN JOSE
Location: Spain
Company: Infinity Lithium Corp
Status: PFS completed August 2019
Comment: Originally a tin explorer, Infinity’s presence in Spain helped
the company land a stake in one of Europe’s largest lithium deposits. A
long-awaited PFS released last August confirmed the project capable of
producing 15,000 tpa of lithium hydroxide at $US5,434/t for the first 10 years
of operations. San Jose is quickly emerging as one of Europe’s favoured
battery minerals projects, with Infinity director Vincent Ledoux-Pedailles
recently appointed as the European Commission’s designated lithium expert
for critical raw materials assessment.

Europe

SEPEDA WOLFSBERG
Location: Portugal Location: Austria
Company: Dakota Minerals/Novo Litio Company: European Lithium Ltd
Status: Unknown Status: DFS work in progress
Comment: After selling its Lynas Find project to neighbour Comment: Despite the headwinds which have confronted
Pilbara Minerals Ltd for a cool $8 million in late 2016, Dakota the lithium industry in recent times, the Tony Sage-chaired
Minerals turned its attention to Portugal and rebranded as company has remained steadfast in its plans to become
Novo Litio. However, after failing to secure access to the a supplier of lithium hydroxide to nascent lithium battery
Sepeda project following a legal stoush with the privately- plants throughout Europe. On the second last trading day of
owned explorer it was attempting to buy the asset off, the 2019, the company announced it had secured a long-term
company walked away from lithium entirely. Now known as debt facility of $7.5 million with a Swiss-based sophisticated
Exore Resources Ltd, the company is attracting attention investor, effectively replacing an existing $10 million
from exploration success across its suite of early-stage gold convertible note facility, to finalise a DFS. The Austrian
projects in Cote d’Ivoire. Mining Authority also recently extended the terms of 11
mining and 54 exploration licences out to December 2021.

aUSTRaLIa’S PaYDIRT FeBRUaRY 2020 Page 49