European Metals Holdings today announces large potential savings on its operating costs by making minor changes to the proposed flow sheet. These savings could have a combined effect of ~$54m per year in operating costs, which will impact the NPV valuation. There is also the potential to marginally increase the lithium recovery to over 91% from the current 90.8%, which will also impact positively the economics. We leave our forecasts unchanged today and still see fair value at 89p per share.