Amazing what you can find on the internet, especially with the benefit of google translate. Slowly, suddenly is (almost) here for @EMH. Good to see more details of the European green deal announced yesterday in Europe. As part of the green deal we have the Just Transition fund.
This fund has allocated approximately 41 billion CZK (1.6 billion Euro) to the three regions in the Czech Republic that were most dependent on coal. One of these regions Usti has been allocated 38.6% of that total, amounting to 18.8 billion CZK
The programme to deliver this investment has been established and has been called the Operational Programme Just Transformation (OPST) On October 1st the European commission approved the programme, including confirmation of a list of strategic projects that would consume 50% of the budget allocated to the Usti region
Two projects are most interesting, the first is the CEZ giga factory in the Usti region which has previously been announced
The other project (that seems to have been included at the last minute being originally priority 2) that is also most interesting our Lithium mine that will likely be supplying refined lithium to this factory and its the largest hard rock lithium resource in Europe at Cinovec. Both projects have received a subsidy of approximately 50 million euro, each.
Looking forward to seeing more from @EMH including financing, especially as we are now a strategic project which I presume will come in part from InvestEU/ the EIB. I am sure there is plenty more to this that will be revealed shortly
Feel free to connect with me on Twitter and I will share more information. I will be post this message on Twitter before the open in the UK with some of the screen grabs of where all the details. Enjoy
EMH Price at posting:
78.0¢ Sentiment: Buy Disclosure: Held
