EUROPEAN METALS HOLDINGS LIMITED Share price movement European Metals Holdings Limited ("European Metals" or "the Company") (ASX and AIM: EMH) notes the recent significant increase in the Company's share price on the ASX and AIM and confirms that it is not aware of any reason for the movement other than recent general market interest in the lithium sector and in ASX-listed lithium companies in
Good find Firemansam. I'm very very surprised this Company has not taken off in the US sure it will catch on......Lithium is the future. and some BCN news by the end of the week
The Sonora Lithium Project consists of 10 concessions which confer rights for exploration, mining and production. all of which are located between 180 km northeast of Hermosillo, Mexico and 170km south of the USA-Mexico border. These concessions cover approximately 87 thousand hectares and target key areas of lithium enrichment. Rare Earth Minerals plc owns in total between 17% and 42% economic interest in these concessions.
Rare Earth Minerals Plc. ("Rare Earth Minerals", "REM" or "the Company") Sonora Lithium Project Signs Lithium Supply Contract Rare Earth Minerals and (LSE AIM: REM) and Bacanora Minerals Ltd. (TSX-V: BCN and LSE AIM: BCN),the joint venture partners of the Sonora Lithium Project1 in Northern Mexico (Bacanora and REM are collectively referred to as the "Sonora Lithium Project Partners"), have finalised a conditional long-term lithium hydroxide supply agreement with Tesla Motors, Inc. ("Tesla"), the maker of electric vehicles and energy storage solutions ("The Supply Agreement"). The Sonora Lithium Project Partners are working to develop a mineral-rich, lithium-bearing clay deposit into a planned low-cost sustainable and environmentally conscious mining operation. It is estimated that the mine and processing facility will have an initial production capacity of approximately 35,000 tonnes of lithium compounds, with scaling potential of up to 50,000 tonnes per annum. To achieve this, the Sonora Lithium Project Partners will need to raise finances to design and construct a mine and processing facility. It is currently anticipated that lithium hydroxide and lithium carbonate would be among the materials produced by the mine. Lithium hydroxide is a key feedstock material in the manufacture of certain kinds of lithium-ion battery cells. On the condition that, over the next two years, the Sonora Lithium Project reaches certain performance milestones and successfully passes product specification qualifications, Tesla - or its authorised purchasers - will buy lithium hydroxide to feed the manufacturing of batteries at Tesla's Gigafactory in Nevada. One of the key milestones will be the confirmation that the Sonora Lithium Project will be able to supply lithium hydroxide in accordance with volumes and timeframes to be established by Tesla. The Supply Agreement has an initial five year term commencing from the date of the first order by Tesla, with an option to extend for a further five years. During the initial five years, and subject to certain terms and conditions in relation to project execution, product quality, pricing and timing of delivery, Tesla will purchase agreed minimum tonnages, with estimated forecasted maximum deliveries to be determined following delivery of future production orders from Tesla. Tesla will purchase minimum quantities in accordance with an agreed upon pricing formula, below current market prices, with actual prices and volumes that can only be finalized during the development phase in due course. The forecast tonnages and delivery dates are structured to coincide with Tesla's forecasted Gigafactory production. This agreement will form a portion of Tesla's anticipated lithium-based feedstock needs; the remainder of which is expected to come from other lithium peers. To meet both Tesla's minimum and forecasted tonnages and timelines and any other potential market demands, the Sonora Lithium Project Partners will need to design and construct a suitable mining and processing operation. This will require the Sonora Lithium Project Partners to secure significant financing through debt and/or equity. Tesla has the right to participate in any such financing or other capital transactions. Bacanora and REM will be pursuing next steps to raise finances in order to achieve this goal. There can be no assurance that the conditions to supply product under the supply agreement will be met or that the agreement will prove to be economic. Development work to be used for the pre-feasibility study ("PFS") for the Sonora Lithium Project is currently being carried out. The PFS alongside additional studies will establish a revised estimate of capital and operating costs, taking into account the new product mix that will be required to service Tesla's anticipated demands plus those of any additional potential customers. Details of REM's ownership of the Sonora Lithium Project: REM owns a direct interest of 16.4% in Bacanora, and through that holds an indirect interest in the La Ventana asset of 16.4%. In addition to the 16.4% in Bacanora, when aggregated with REM's 30% direct interest in Megalit S.A de CV (the company holding the Buenavista, Megalit and San Gabriel concessions) and the 30% direct interest in Mexalit S.A de CV (the company holding El Sauz, El Sauz 1, El Sauz 2, Fleur and Fleur 1 concessions), results in a total economic interest in each of these companies of Megalit S.A. de CV and Mexalit S.A. de CV of 41.47%. The Company's Executive Chairman, David Lenigas, commented: "The selection of the Sonora Lithium Project as one of the lithium suppliers to the Tesla Gigafactory is a landmark transaction that will support the development and commercialisation of the Sonora Lithium Project. This key supply agreement with Tesla will hopefully be the first of a number of potential lithium off-take partners for the Sonora Lithium Project as we move towards the next stages of project development." Qualified Person: Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School.
Rare Earth Minerals and (LSE AIM: REM) and Bacanora Minerals Ltd. (TSX-V: BCN and LSE AIM: BCN),the joint venture partners of the Sonora Lithium Project1 in Northern Mexico (Bacanora and REM are collectively referred to as the "Sonora Lithium Project Partners"), have finalised a conditional long-term lithium hydroxide supply agreement with Tesla Motors, Inc. ("Tesla"), the maker of electric vehicles and energy storage solutions ("The Supply Agreement").
https://www.google.co.uk/finance?q=OTCMKTS:REMMY&ei=nrkLV8GxLpPEU4rmmoAG https://www.google.co.uk/finance?q=LON:REM&ei=prkLV-nlNIqdUInZrbAG
Home » Market News » DirectorsTalk Highlights » European Metals Holdings lifted by lithium excitement European Metals Holdings lifted by lithium excitement Shares in mining minnow European Metals Holdings shot up 43% to their highest point since their London flotation as interest in the lithium sector intensified due in part to excitement around the launch of new electric cars and subsequent demand for lithium-ion batteries. Aussie-listed EMH, which joined the AIM junior market in December, put out a statement on Monday afternoon that it was “not aware of any reason for the movement other than recent general market interest in the lithium sector and in ASX-listed lithium companies in particular”. Lithium prices have been a rare bright spot in the commodities market due to their use in electric batteries and electronic devices like tablet computers.
http://brrmedia.co.uk/event/141514/kiran-morzaria-chief-executive-officer Worth a watch for you US investors
http://uk.businessinsider.com/tesla-model-s-new-features-p100d-2016-4?r=US&IR=T And Lithium From REMMY........................OTC market
I think to myself what a wonderful world it will be when BCN start production next year and you won't be able to buy this for love or money. Even the press has blinkers on. The main miners get all the press, , not really mining is it when you wait for the sun to dry it. One day son, all this will be yours.
Well after all the DL !!!!!!!!!!!!!!!! hype going on the US market i thought we would have more going forward. I have posted on LSE and REMMYS Proboard as you have trying to get some interest ......we will see just hope it really kicks off soon sure it will and the OTC wiill take off
