European Lithium Ltd (ASX:EUR) has received a vote of confidence from its chairman, Tony Sage, who has further increased his shareholding in the company.
Sage exercised in-the-money options allowing him to acquire 366,667 shares for consideration of $18,333.
This increased his total shareholding to 6.34 million shares.
READ: European Lithium’s share price strengthens further on positive news flow
European Lithium is progressing a pre-feasibility study (PFS) for its Wolfsberg Lithium Project located in Austria.
A work schedule has been developed for completion of the PFS in the March quarter 2018.