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European Metals said it had agreed to sell a 51% stake in its Cinovec project for about €34m to Czech-based power utility CEZ.
European Metals chief executive Keith Coughlan said the deal would see the Cinovec project being fully funded through to a construction deadline, while assisting the project's integration into the European battery market.
'With their blend of technical foresight, historic mining experience, strong balance sheet and involvement in the rapidly growing European battery industry, CEZ is the ideal partner for the company,' Coughlan.
At 1:09pm: (LON:EMH) European Metals Holdings share price was +0.25p at 21.75p