Share Name Share Symbol Market Type Share ISIN Share Description
European Metals Holdings Limited LSE:EMH London Ordinary Share VGG3191T1021 ORD NPV (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 23.00 183,488 07:40:27
Bid Price Offer Price High Price Low Price Open Price
22.00 24.00 23.00 23.00 23.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.00 -2.56 -1.77 37
Last Trade Time Trade Type Trade Size Trade Price Currency
16:24:19 O 7,500 22.90 GBX

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European Metals Daily Update: European Metals Holdings Limited is listed in the Mining sector of the London Stock Exchange with ticker EMH. The last closing price for European Metals was 23p.
European Metals Holdings Limited has a 4 week average price of 19p and a 12 week average price of 14.55p.
The 1 year high share price is 24.50p while the 1 year low share price is currently 8.80p.
There are currently 160,431,098 shares in issue and the average daily traded volume is 320,748 shares. The market capitalisation of European Metals Holdings Limited is £36,899,152.54.
emhaigh1: Jak. It started with your post 1852 - "They need to get something under the share price for the next placing." I didn't disagree with that but pointed out five months cash in hand with updated PFS due soon. I believe that that RNS will have a positive and sustainable share price impact. It's two years since EMH was independently valued. Cinovec and the lithium market have matured significantly since then. It's due a re-rate, if you like, and that would deserve to be reflected in the share price Post 1854 - "Insolvent in five months but if they can stick some skanky news story out there then they might be able to spike the share price first ..." was what I found unfairly inflammatory and alarmist. I may have missed any intended irony but you still seem to be suggesting that EMH could "ramp" the share price to get a placing away. Again, I find that unacceptable. Some CEOs do slip porkies into releases but KC doesn't play those games, imo, and ASX rules and sanctions are far more stringent than AIM. I don't think there'll be anything "artificial" about the expected RNS. I've been expensively skanked by dodgy CEOs on AIM through 'hopeful' announcements (haven't we all?) but I now place far more importance on the man's proven conservative reporting style rather than any 'highly accretive' expectations. Call me picky if you like but to be factually correct I think we should simply agree that "At the end of the quarter EMH had A$1.3m cash in hand." So yes, in the absence of any major funding announcement I expect there to be a placing at some point over the next quarter but it won't be a 'keep the lights on' placing as some may have interpreted your phraseology. Expressed opinions while we await news is often what these boards are about and you've been around long enough to appreciate that. We've both known downbeat opinions to be expressed purely for personal advantage, just as we've seen overly upbeat ones. I try to keep mine fair and realistic at all times. No offence meant at all, just saying it as I see it. ATB and BTW, - are you invested?
jaknife: emhaigh1, I don't know how we got onto that topic. I was simply pointing out what we both appear to agree is factually correct that EMH is going to have run out of cash within five months. Your response to that appeared to be of the ilk: "we'll get some news soon, which will lift the share price" but it should be obvious that "lifting the share price" is irrelevant as it won't change the basic plain fact that EMH will have run out of money in five months time. However, if the "share price is lifted" just prior to a fund raise then we are in the territory of what frequently happens with AIM companies of late: a ramp to make the share price go up followed by a placing which appears to have an attractive discount because the share price has been artificially boosted. JakNife
jaknife: Wonderful. Insolvent in five months but if they can stick some skanky news story out there then they might be able to spike the share price first thus placing at a higher price ....
jaknife: They need to get something under the share price for the next placing. The RNS from Tue reveals that they only have A$1.3m of cash left: Https://
pugugly: Just what one would expect from a country that produced Robert Maxwell - They will interpret the rules as they wish not at they are written (imo) Even if EMH win through in the end the share price will be under a cloud for a long time (imo)
steeplejack: FT article in 17/18th weekend issueContains article headed Lithium faces 5bn dollar test as supplier stake sale electrifies buyer interest.References the fact that the Canadian company PotashCorp which acquired a 32 percent stake in Chiles SQM some 20 years ago will now be forced to sell the stake as a condition of its merger with rival Agrium.'While only a handful of companies are likely to compete for the stake,the eventual price will be an important measure of how seriously the hype around electric cars is being taken'The stake is currently valued at around 4.7bn dollars.The price of lithium carbonate has more than doubled over the past two years to hit 14,500 dollars a tonne.However,according to consultancy Wood Mackenzie,if electric vehicles reach 5 percent of car and light truck globally by 2025 from their current level of 2 percent,lithium prices will fall to 6900 dollars a tonne by 2025.However,if that share,including plugin hybrids,climbs to 12 percent by 2025,lithium prices will remain at current levels and move towards a long term price of 13600 dollars a tonne,the consultancy forecasts.Wherever bidders end up sitting on the spectrum of forecasts,they will also be competing against a backdrop in which lithium prices have unleashed a surge in supply.Companies are hunting for the metal,including in Cornwall,Nevada,Mali and Australia,where there has been a rapid build up of production.As a result,some analysts who follow the industry forecast a surplus for the next few years,'Why would you buy a 5bn dollar stake in a resource that is geologically abundant',asks one investor.Ben Isaacson,an analyst at Scoia bank in Toronto,says SQMs share price reflects lithium prices well above the marginal costs of production which isnt realistic.The lithium price will fall to a long term average of between 8000-10000 dollars per tonne he forecasts.'Theres a clock ticking on this deal'he says ,'this should be bought at a discount ,this should not be bought at a premium.''Lithium is experiencing a far bigger demand shock',says says Howard Klein,a New York based partner at RK Equity which advise companies in the sector.The sale of the SQM stake will reveal just how valuable the world thinks that shock is.
steeplejack: On page 3 of yesterday's Sunday Times,there is an article about how the cash strapped Congo Republic intends to tax producers of cobalt."Glencore is facing a $250m hit from a looming windfall fax on cobalt-a key component of the rechargeable batteries that power electric car............The new fiscal regime is set to increase the royalty rate on cobalt from 2% to 10%.Miners are also facing a 50% levy on excess profits.This windfall tax would kick in as soon as a commodity rises 25% above the prise used to test the feasibility of a mine,"Glencore and Randgold will be the two worst hit by these measures that could be signed into law by the President Joseph Kabila this week.I'm sure these developments will be bought to Mr Babis's attention.The worry must be that the Czech Republic would like to entertain similar measures for EMH but who knows.The Congo is likely to prove the world leader in the production of cobalt and already the likes of Tesla and Apple etc are looking for alternative sources,and are working with producers in Canada and America to create new supply chains.I hope that Babis doesn't similarly encourage lithium customers to look outside the Czech Republc.Its a risk that is now being reflected in the EMH share price.
steeplejack: The stark reality of a $400m funding requirement might of spooked the market but it's difficult to see why.Perhaps the absence of a "Hanwa" BCN type offtake arrangement has disappointed.For sometime,EMH have been uncannily imitating the past share price movements of BCN.BCN a year or so back fell from the 85-90p range all the way back to around 50-60p and have traded in a well defined range ever since only recently edging to the top of the range on the Hanwa RNS.This could prove to be a template for EMH's future share price moves.We've recently had punters digging up names of lithium explorers from all over the place,a sure sign that things have got a bit frothy.Yet,if you want a proxy for the lithium boom,economics,geography,valuation tell you EMH remains an excellent choice.Financial SummaryThe Cinovec Project yields a post-tax NPV (discounted at 8%) of $540 M and a post-tax Internal Rate of Return of 21%. When operating in steady state the Project achieves an operating cash margin of 59% and has an operating cost of $3,483 per tonne.
bookwormrobert: This is from ShareProphets on Kodal: The mere mention of lithium seems to be enough to send the share price soaring on many small AIM companies, until reality hits home and the almost inevitable pullback starts. There is no doubt that demand for the metal has been on the rise, and that looks likely to continue going forwards, and prices have been increasing in recent years, but I suspect that in the majority of cases these lithium prospects which these small companies hold will never actually amount to anything. It also seems to be the case that if a small AIM company secures an interest in any licence - even one where little or no exploration work has even been undertaken – that is anywhere near to an existing producing mine or similar then PIs immediately assume that it should be worth a similar amount, purely by dint of its geographical location. The same goes for if a nearby acreage is sold, with some suggesting that implicitly means that the licence held by the company they are invested in should be worth a similar amount. A good example of this at the moment seems to be Kodal Minerals (KOD) which has seen a crazy rise in its share price in recent weeks to the current level of around 0.515p to buy, and giving it a market cap of over £26 million. When the share price topped the 0.3p level the company even put out an RNS on January 13 noting the rise up to that point and stating that there was no reason for it – yet people have continued to pile in. A lot of this seems to be off of the back of speculation surrounding its Bougouni lithium project in Mali, which is currently in the very early stages and it only acquired the 90% interest in the project at the end of August. This set the company back the huge sum of $140,000, which is payable over 3 years, with an initial payment of $25,000. So far it is in the very early stages of exploration, having undertaken rock chip sampling and a 1.3km drilling programme, and whilst the results look interesting it is still in the very early stages. But what really seemed to move the share price was speculation surrounding comments within an RNS on January 9 that announced that the company had raised £1 million by issuing over 666 million shares at a price of 0.15p to accelerate the development of Bougouni. But within that the CEO Bernard Aylward mentioned a proposed sale of the neighbouring licence, owned by Birimian Limited, to a Chinese buyer for A$107.5 million. So far though that is only based upon a letter of intent, and the initial payment of A$10.75 million was supposed to have been made on or before January 20. There was no announcement on Friday on the ASX where Birimian is listed, so unless that comes on Monday it could well be that the deal isn’t going ahead. Even if the deal is completed, there is no way that you can infer a value for Kodal’s project from that, as the Birimian licence had undergone extensive drilling and had JORC compliant resource figures, and was expected to be at the prefeasibility stage following the completion of the latest 10km drilling programme. In most of the cases on AIM that I can recall where a crazy valuation is placed upon a licence, that is largely based upon the value of other projects nearby, it is ultimately never achieved or amounts to much. There are plenty of small AIM companies with lithium acreage where exploration programmes have been carried out that are a good few years down the line and are no nearer to production or finding anyone who wants to buy the project. It also isn’t cheap to carry out exploration work, especially when you consider that Kodal has a number of projects on the go already – although at least in the case of it gold interests in Cote d’Ivoire it has farm in partners. Newcrest is to spend $1.7 million oer the next three years to earn 75% of Dabakala, and Resolute will spend $3 million over 4 years across a number of licences to earn 75% of those. In addition to the recently raised £1 million, the company also raised £750,000 in early October at 0.1p, and £680,000 in May, so it would seem likely that fundraising here is going to need to be a regular occurrence if the company is going to continue spending on exploration at the current rate, and with no source of revenue on the horizon either. Given that the net assets of the company were valued at £1.5 million, and that since then there certainly hasn’t been anything close to justifying a valuation of almost £25 million more being placed upon them, then even allowing for the future potential of these assets you don’t get anywhere near to the current level of market cap being assigned to the company. Like with so many AIM companies, you also have to wonder why, if these assets/licences are so fantastic, did a small outfit like Kodal manage to get its hands on them. Especially when you consider that Birimian, which owns the adjacent licence, had nearly A$8 million in the bank at the time and has a fair idea of the geology of the area from the work it has undertaken. For anyone who took part in the placing the rise has been a very convenient opportunity to quickly sell for a nice profit, but ultimately I can’t see the share price managing to stay up at anywhere near these levels – it is just a case of when sentiment finally fizzles out, and once it does start to drop it will most likely retrace quickly. News is expected on the lab results from the Bougouni drilling towards the end of January, so the share price may find some support until then, but I can’t see anything being in there that would justify the level it is at – plus of course if the Birimian deal doesn’t go ahead then that would likely have a substantial affect, given it is what much of the recent ramping has been based upon. I think you’d have to be mad to be buying the shares at anywhere close to this share price – especially after the ‘no reason for the rise’ RNS around 0.3p. - See more at: hxxp://
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