Shares of mineral exploration company European Metals Holdings (ASX & AIM: EMH) are rallying on Tuesday after the company announced its shares will be available to trade on the Nasdaq international OTC program.
The Australia based company said that it made the decision following dramatically increased US-based interest in its Cinovec Lithium/Tin Project.
The project is considered to be the largest hard rock lithium resource in Europe and the fourth largest non-brine deposit in the world. It also hosts a significant tin resource.
Cinovec’s location puts it close to several electric vehicle battery factories in Europe, as well as Volkswagen’s Zwickau factory that now only produces electric vehicles, and Tesla’s Berlin gigafactory that is currently being built.
EMH said it can now leverage significantly heightened visibility in the U.S. investment community and greater resources for investor relations support. Its shares will begin trading in the US on the 15th of December, although the ASX will continue to be its primary listing.
EMH’s London-listed shares are currently priced at 52p, up 13.04% on the day and 235.48% for the year to date.