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European Lithium wins land access from court

The company is fast-tracking the development of the Wolfsberg Lithium Project.
European Lithium wins land access from court
The company is expecting a cash inflow

European Lithium (ASX:EUR) has been ruled in favour of in an arbitration tribunal regarding land access at its advanced Wolfsberg Lithium Project located in Austria.

The property owner, Glock Gut, had previously obstructed access to the property from the company’s subsidiary that holds Wolfsberg's exploration and mining licences.

The ruling now gives the subsidiary full access to and usage of land to carry out all mining activities.

During the arbitration process, the company was required to deposit the respondent’s costs and these will be recovered from the respondent in the coming weeks.

In addition, the company is due to receive bonds in place for recent drilling programs, the total of these items is circa $300,000.

Tony Sage, chairman, commented: “This matter has caused unwarranted delays and has been of concern to shareholders.

“The arbitration has put these concerns to rest in confirming our land access rights so that we can continue our work on site unimpeded.

“This adds to the flow of good news over the past month and we look forward to releasing the resource upgrade by our independent geologist shortly.”

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