Company
ASX:EUR
European Lithium Ltd (ASX:EUR) is listed on the Australian Securities Exchange.
249 stories · page 7 of 13
After exploration is complete, it is expected total resources of 10.98 million tonnes will be included in the mine planning process in the DFS at the Wolfsberg Project.
The company has been advised of the progress of the metallurgical test-work, and that it will be completed with DRA Global supervising, on-budget as scheduled.
“We are excited by the huge support in the placement shown by institutional and high net worth investors in Australia, Asia and Europe,” says chairman.
Securities will remain halted until Wednesday, January 20, or when an announcement is released.
The company has secured a gold tenement in a region of the Pilbara that is producing impressive result and attracting strong attention.
The new tenement in North West WA is close to the recent gold discoveries of De Grey Mining, Artemis Resources and Novo Resources.
The company is well-timed and well-positioned to benefit from Europe’s unprecedented need for lithium.
The appointment of Kimon Gkomozias as executive director is part of the company’s strategic engagement with Talaxis, a leader in EV technology metals project development.
The collaboration with GREENPEG and initial funding of €120,000 shows strong commitment to develop the Wolfsberg Lithium Project in Austria.
The company has received A$1 million under an A$10 million finance facility previously established with Winance Investment LLC.
The company has reached agreement with a number of creditors and short-term loan holders to convert $742,918 of current debt into equity.
“It is a huge coup for EUR to have secured the engagement with Talaxis and above all the vast knowledge and experience of Daniel,” says chairman Tony Sage.
The company is optimistic about its ability to progress the Wolfsberg Lithium Project once the COVID-19 situation is resolved and believes the outlook for lithium remains strong.
The drawdown is from an existing finance facility with Winance Investment LLC which is “entirely satisfied in the development of the project and adept strategies implemented by management”.
The company is focused on developing its flagship Wolfsberg Lithium Project in Austria.
The new funding will allow the company to complete the DFS for its flagship Wolfsberg Lithium Project.
The company is focused on developing its flagship Wolfsberg Lithium Project in Austria.
Company executives will attend a number of conferences in Europe this quarter.
A bulk sample of ore from the Wolfsberg project is advantageous for the final design of a lithium hydroxide plant.
“Securing this additional funding provides the company flexibility,” says chairman Tony Sage.
