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European Lithium takes advantage of positive share re-rating

The halt will remain in place until Wednesday 7th December 2017.
European Lithium takes advantage of positive share re-rating
The company's shares are in pre-open

European Lithium Ltd (ASX:EUR) has been one of the best performing stocks on the ASX over the past month, gaining 500% to $0.29.

The company is progressing a pre-feasibility study for its Wolfsberg Lithium Project located in Austria.

Tony Sage, chairman, has also been increasing his stake in the company.

READ: European Lithium chairman Tony Sage increases shareholding further

European Lithium is now taking the opportunity to boost its cash position through a capital raising, and the ASX has granted a trading halt to prepare.

The halt will remain in place until the opening of trade on Thursday 7th December 2017, or earlier if an announcement is made to the market.

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European Lithium Ltd Timeline

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