European Metals said the latest half-year saw “continued progress” towards the finalisation of a Definitive Feasibility Study for its Cinovec lithium project in the Czech Republic.

Discussions with prospective offtakers and project financiers are also ongoing, it said.

“From a macro perspective, the price for lithium remains extremely strong with Lithium Carbonate setting all-time high prices in October and the expectation of continuing strong demand within the European Union for lithium resulting from the announcement of gigafactory production capacities of approximately 120 GWh in 2022” it added.

By 2025, this is expected to quadruple to over 500 GWh, and by 2030 potentially fourteenfold to up to 1.7 TWh.

Cash at the period end was A$17.5mln with losses for the half year to end December at A$4.7mln (A$1.76mln), Pro Active Investors reports.