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Lithium Australia nixes MOU with European Metals over Czech lithium project

Lithium AustraliaNL said March 31 that it has withdrawn from the nonbinding withEuropean Metals Holdings Ltd.over the Cinoveclithium-tin project in the Czech Republic.

Under the agreement, signed in December 2014, Lithium Australiawas to test the commercial potential of the resource at the project.

The parties have failed to reach satisfactory commercial termsfor an anticipated joint venture.

In addition, the company is in talks for its and will continue to assessproject participation on a global basis.