Zinnwald Lithium focused on projects as annual loss increases
Zinnwald Lithium PLC on Monday said it remained well-positioned to develop one of Europe’s most advanced battery-grade lithium projects, as it posted an increased loss.
The Germany-focused lithium producer said pretax loss widened to €2.7 million in 2024 from €2.6 million in 2023.
Administrative costs were a tad lower at €2.5 million from €2.6 million.
A share based payments charge however increased 30% to €688,877 in 2024 from €528,626 in 2023.
Chair Jeremy Martin said: ‘Despite the challenges facing the lithium sector, Zinnwald Lithium remains well-positioned to develop one of Europe’s most advanced battery-grade lithium projects. With the pre-feasibility study expected very soon, permitting progressing, and government support reinforcing the Project’s strategic importance, we are firmly on track to becoming a key supplier to Europe’s growing battery sector.’
In late January, the company had announced that its pre-feasibility study for the second largest hard-rock lithium project in the EU remained on track to be published in the first quarter of 2025.
The project is located in east Germany, some 35 kilometres from Dresden and adjacent to the border with the Czech Republic.
The largest lithium resource in Europe is Cinovec in the Czech Republic.
Zinnwald shares were 1.6% lower at 6.15 pence each on Monday afternoon in London.
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