European Metals Holdings (ASX: EMH) Non-Executive Director, Ambassador Lincoln Bloomfield Jr., has again shown his confidence in the company’s lithium plans by acquiring a significant package of new shares.
Mr Bloomfield Jr. purchased an additional 123,400 shares in EMH on market valued at $41,312.
Previously holding 401,600 shares valued at $128,512, his stake in the company now amounts to 525,000 shares at a value of $168,000 at last close of $0.32.
A former US official specialising in foreign policy and international security, the Ambassador held policy positions in five previous administrations, most recently in 2008 as a Presidential Envoy with the rank of Ambassador.
He also has many years of experience working with companies in the private sector, primarily involving renewable energy technology, private equity, and security issues.
For eight years until 2016, Mr Bloomfield, Jr was Chairman of the Stimson Centre in Washington DC, one of the top-rated think tanks in America. During his service as US Assistant Secretary of State for Political Military Affairs, he was the US Government regulator responsible for industry compliance with defence export law and regulation.
The acquisition of EMH shares is a strong vote of confidence in the company that is currently working through its definitive feasibility study (DFS) for the Cinovec project in the Czech Republic, the largest hard rock lithium project in Europe.
Most recently, EMH announced it resolved to improve the location of its lithium processing plant to the Prunéřov site.
The revised location has had an effect on the timing of the DFS but the company has said the change is expected to have a positive outcome on the capex and opex per tonne of the project.
In late April, the company said EMH’s advisors will commence finalising the DFS process taking into account the new site.
