European Lithium Ltd (ASX:EUR) (ASX:EUR) (FRA:PF8) has appointed Michael Carter as non-executive director, effective from August 31.
Current executive director Kimon Gkomozias is stepping down from the board of the European lithium project developer as of August 31, 2021, as he transitions to a strategic role at Singapore-based Welsbach Holdings.
Financial experience
Carter is experienced in structuring corporate transactions, focusing on junior resource companies, and has worked in ongoing corporate advisory roles with numerous ASX listed entities over the last 18 years.
Previously a director of Indian Ocean Capital, he has worked as a stockbroker since 1999 and is currently an associate director of CPS Capital Group.
He graduated from the University of Western Australia in 1998 with a Bachelor of Commerce, majoring in accounting and finance and has also completed a graduate diploma in Applied Finance and Investment at Finsia in 2002.
Gkomozias thanked for “crucial contribution”
EUR non-executive chairman Tony Sage said Gkomozias was appointed to the role of executive director as part of the company’s strategic engagement with Talaxis.
“On behalf of the board, I would like to take this opportunity to thank Kimon for his crucial contribution to the company during his appointment, in driving our financing efforts to secure the funding required for the completion of our Definitive Feasibility Study (DFS) and securing strategic development partners for the Wolfsberg Project as well as accessing a number of EU incentive programs that will assist with the mine development in the future.”
EUR “well placed”
Commenting on his role, EUR executive director Kimon Gkomozias said: “It was a pleasure working with the board to secure financing for the DFS stage of the Wolfsberg Project in Austria, which I believe is now well placed to become the first local lithium supplier and a significant EU partner into an integrated European battery supply chain.”
Strong Wolfsberg drilling results
On August 16, European Lithium received the results of its phase-2 resource extension drilling at Wolfsberg Lithium, which intersected up to 1.91 metres of true thickness with up to 2.4% Li2O and is expected to lead to a resource upgrade after.
The ambitious infill drill campaign is part of Definitive Feasibility Study (DFS) work at Wolfsberg, with 20 drill holes now completed for a total of 7,925 metres of core.
With such results as these, the company is confident of achieving its resource update aim of 11 million tonnes at 1% Li2O and then conversion into reserves when a mining schedule is completed.