Proactiveinvestors Australia European Lithium Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia European Lithium Ltd RSS feed en Tue, 16 Jul 2019 08:12:30 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - European Lithium has early mover advantage and well placed in EU lithium market ]]> https://www.proactiveinvestors.com.au/companies/news/222889/european-lithium-has-early-mover-advantage-and-well-placed-in-eu-lithium-market-222889.html European Lithium Ltd (ASX:EUR) is well placed to capitalise on its early mover status in the lithium industry as it has developed a real, government-backed, tight market for its product.

Not only has the company advanced its Wolfsberg Lithium Project in Austria to near-development status, EUR has also made sure it is in a position to serve a definite and growing market for lithium products in Europe.

READ: European Lithium continues to gain strong European support for lithium strategy

Chairman Tony Sage said the company’s early investment into the project as well as in product development, market definition, and securing industry links and government backing was destined to produce returns.

Resource extension drilling at the Wolfsberg project in Austria.

One of the challenges facing the global lithium industry in the future is financing with billions needed to enable companies to meet demand.

President of California-based Global Lithium LLC, Joe Lowry, told last month’s Latin America Downunder conference in Perth that more than $12 billion needed to be injected into the industry within five years to have a chance of meeting demand.

Financing hurdles for industry

He said meeting this requirement presented a major hurdle, exacerbated by known and emerging failures in lithium start-ups.

Many of these failures, he said, had demonstrated a lack of necessary skillsets and had discouraged investment in the sector.

While major lithium producers, SQM (NYSE:SQM), Albemarle Corporation (NYSE:ALB), Ganfeng Lithium Co Ltd (SHE:002460) and Tianqi Lithium Corp (SHE:002466), would meet some of the increased demand Lowry said they would not be able to meet the demand forecast for 2025 on their own.

READ: European Lithium has near-term DFS catalysts for integrated lithium supply strategy in Europe

With EUR’s advanced status, Sage said the hurdles facing many start-ups did not present the same issues.

He said Europe was taking steps towards ensuring it had a self-contained new-age battery industry.

This included lithium supply and processing with the finished end-product provided directly to the continent’s rapidly growing electric vehicle production sector being championed by major global vehicle makers, including VW, BMW and Mercedes Benz.

READ: European Lithium makes progress with Wolfsberg resource extension drilling

Sage said this strategy was being promoted and encouraged by governments, facilitated by European-developed technologies, financed by investors on the continent and supported by the vehicle makers.

As well as serving the EV industry, EUR could also supply spodumene, and the by-products quartz and feldspar to Europe’s glass and ceramics industry.

READ: European Lithium hits impressive Wolfsberg ore test milestone ahead of schedule

Chairman Sage is encouraged by the support being demonstrated in Europe for the strategy from investors, potential partners and others involved in the lithium industry.

“We are progressing full steam ahead and it is our strong belief that our Wolfsberg Project will be the first local producer of lithium hydroxide in Europe,” he said.

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Thu, 27 Jun 2019 09:11:00 +1000 https://www.proactiveinvestors.com.au/companies/news/222889/european-lithium-has-early-mover-advantage-and-well-placed-in-eu-lithium-market-222889.html
<![CDATA[News - European Lithium makes progress with Wolfsberg resource extension drilling ]]> https://www.proactiveinvestors.com.au/companies/news/222558/european-lithium-makes-progress-with-wolfsberg-resource-extension-drilling-222558.html European Lithium Ltd (ASX:EUR) (FRA:PF8) (VSE:ELI) (NEX:EUR) is making progress with a resource extension drilling program at the advanced Wolfsberg Lithium Project in Austria.

A new flexible surface drilling program is being utilised with this work forming part of an accelerated definitive feasibility study (DFS).

READ: European Lithium has drill bit spinning with 45% boost in Wolfsberg resources targeted

The stage I program comprises five shallow holes between 250 metres and 290 metres in depth for a total of around 1,300 metres.

A stage II program will include seven holes for 2,770 metres with each hole between 320 and 470 metres in depth.

Chairman Tony Sage said the company was pleased with the drilling progress as well as with the progress of its ambitious DFS schedule.

The drilling program is expected to increase the JORC-compliant lithium resource by around 45%.

EUR aims to upgrade the 4.86-million-tonne inferred resource at Wolfsberg to the measured and indicated categories while also boosting the overall resource.

Measured and indicated resources stand at 6.3 million tonnes at 1.17% lithium oxide (Li2O).

Upon completion of the program, EUR expects measured and indicated resources will total approximately 10.98 million tonnes at 1.0% Li20.

The upgraded and updated resource will then be included in the mine planning process within the DFS.

READ: European Lithium continues to gain strong European support for lithium strategy

EUR’s CEO Dietrich Wanke said: “It is important to continue the resource extension with an optimised drilling program.

“We anticipate results will prove the measured and indicated JORC compliant resource base to be developed into JORC-compliant reserves during the complex DFS work.”

Planning of these holes has been completed by independent consultants GEO Unterweissacher and MineIT in collaboration with SRK.

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Fri, 21 Jun 2019 16:35:00 +1000 https://www.proactiveinvestors.com.au/companies/news/222558/european-lithium-makes-progress-with-wolfsberg-resource-extension-drilling-222558.html
<![CDATA[News - European Lithium director continues to support company through on-market purchases ]]> https://www.proactiveinvestors.com.au/companies/news/221090/european-lithium-director-continues-to-support-company-through-on-market-purchases-221090.html European Lithium Ltd (ASX:EUR) (FRA:PF8) (VSE:ELI) (NEX:EUR) non-executive director Stefan Mϋller continues to demonstrate his support for the company’s integrated European lithium supply strategy through on-market purchases.

On Tuesday, May 28, Mϋller acquired a further 200,000 shares in an on-market transaction valued at $18,600.

He now holds 1.25 million fully paid ordinary shares.

READ: European Lithium director shows confidence in integrated lithium strategy focused on Europe

The latest purchase follows another of 200,000 shares valued at $22,000 on April 4 and the recent acquisitions by fellow directors Tony Sage and Malcolm Day.

Early this year chairman Sage purchased 4 million shares with a total value of $340,000, taking his holding to more than 11.154 million.

At the start of the year non-executive director Malcolm Day purchased $200,000 worth of exercisable at 10 cents and expiring on June 30, 2020.

The 20 million unlisted options were via an off-market purchase and add to Day’s shareholding of around 14.5 million shares.

READ: European Lithium continues to gain strong European support for lithium strategy

These purchases come as the company advances towards its aim of becoming the first battery-grade lithium producer in Europe.

EUR aims to become a lithium chemicals producer as well as a supplier of spodumene, quartz and feldspar products for the glass and ceramics industry.

A major component of this process is completion of a definitive feasibility study (DFS) for the Wolfsberg Lithium Project in Austria, from which EUR will service Europe’s growing electric vehicle industry.

READ: European Lithium has drill bit spinning with 45% boost in Wolfsberg resources targeted

EUR is devoting considerable effort into completing the DFS later this year and has resumed resource extension drilling which is expected to lift the JORC-compliant lithium resource by around 45%.

The new flexible surface drilling program aims to upgrade the 4.86-million-tonne inferred resource to the measured and indicated categories and is expected to result in an increase in the overall resource.

Wolfsberg’s measured and indicated resource stands at 6.3 million tonnes at 1.17% lithium oxide (Li2O) and EUR expects that the drilling will boost this to 10.98 million tonnes at 1.0% Li20.

Expanding resources

Sage said the company was pleased with the progress of its “ambitious” DFS schedule.

“We feel assured the project has the Austrian government’s full support with receipt of the essential approvals for our drilling activities following a complex assessment process.

“At completion the significantly expanded resources will form the basis of our DFS targeted for completion later this year.”

Test work milestone

Ongoing test work also forms part of the DFS and in March a milestone was passed when it was demonstrated that Wolfsberg ore can be sorted in different ways to achieve consistent high-quality products.

Complex metallurgical tests are being carried out by German company Dorfner/Anzaplan.

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Wed, 29 May 2019 12:42:00 +1000 https://www.proactiveinvestors.com.au/companies/news/221090/european-lithium-director-continues-to-support-company-through-on-market-purchases-221090.html
<![CDATA[News - European Lithium has drill bit spinning with 45% boost in Wolfsberg resources targeted ]]> https://www.proactiveinvestors.com.au/companies/news/221001/european-lithium-has-drill-bit-spinning-with-45-boost-in-wolfsberg-resources-targeted-221001.html European Lithium Ltd (ASX:EUR) (FRA:PF8) (VSE:ELI) (NEX:EUR) has resumed resource extension drilling which is expected to increase the JORC-compliant lithium resource by around 45% at the Wolfsberg project in Austria.

The company, which has an integrated European lithium supply strategy, has developed a new flexible surface drilling program as part of an accelerated definitive feasibility study (DFS).

READ: European Lithium continues to gain strong European support for lithium strategy

As well as upgrading the 4.86-million-tonne inferred resource to the measured and indicated categories, the program is expected to result in an increase in the overall resource.

The measured and indicated resource currently stands at 6.3 million tonnes at 1.17% lithium oxide (Li2O).

After completing the drilling, EUR expects that measured and indicated resources of 10.98 million tonnes at 1.0% Li20 will be included in the mine planning process within the DFS.

“Ambitious DFS schedule”

EUR chairman Tony Sage said: “We are very pleased with the progress of our ambitious DFS schedule.

“We feel assured the project has the Austrian government’s full support with receipt of the essential approvals for our drilling activities following a complex assessment process.

“At completion the significantly expanded resources will form the basis of our DFS targeted for completion later this year.”

READ: European Lithium hits impressive Wolfsberg ore test milestone ahead of schedule

The phase I surface drilling program is expected to be completed in five weeks and after assay results are obtained and evaluated, an upgraded JORC resource statement will be declared.

The area of investigation with drill holes of phases I and II at Wolfsberg.

This program is expected to confirm the inferred resource in Zone 1 and demonstrate an extension of the JORC inferred resource to the northwest in this zone.

The phase I program of 1,300 metres will comprise five shallow diamond holes between 250 metres and 290 metres in depth in Zone 1.

Phase II program

EUJR plans to complete seven holes for 2,770 metres in a phase II program with each hole between 320 and 470 metres in depth.

EUR’s CEO Dietrich Wanke said: “It is important to continue the resource extension with an optimised drilling program.

“We anticipate results will prove the measured and indicated JORC compliant resource base to be developed into JORC-compliant reserves during the complex DFS work.”

READ: European Lithium director shows confidence in integrated lithium strategy focused on Europe

Planning of these holes has been completed by independent consultants GEO Unterweissacher and MineIT in collaboration with SRK.

NW-SE section view of drill holes at Wolfsberg. The orange holes are already drilled and the green and blue holes are proposed.

Financing negotiations

Chairman Sage said the company was confident that the upgraded resource would assist in finalising financing negotiations.

As well as being used in the DFS, several European corporate and federal investment and development banks have indicated that they will accept the current PFS with the addition of an upgraded resource in their approvals process.

Once drilling had been completed, Sage said the company would work to complete the negotiations and source early project finance.

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Tue, 28 May 2019 14:19:00 +1000 https://www.proactiveinvestors.com.au/companies/news/221001/european-lithium-has-drill-bit-spinning-with-45-boost-in-wolfsberg-resources-targeted-221001.html
<![CDATA[News - European Lithium continues to gain strong European support for lithium strategy ]]> https://www.proactiveinvestors.com.au/companies/news/220015/european-lithium-continues-to-gain-strong-european-support-for-lithium-strategy-220015.html European Lithium Ltd (ASX:EUR) is raising up to €1.5 million (approximately A$2.397) in a placement primarily to European-based sophisticated investors.

The company has already received the equivalent of A$315,000 in the placement at 9 cents per share.

Funds raised will be allocated to the ongoing definitive feasibility study (DFS) at the company’s Wolfsberg Lithium Project in Austria.

READ: European Lithium director shows confidence in integrated lithium strategy focused on Europe

Wolfsberg will be the key supply source for the company’s integrated European lithium strategy, primarily servicing the continent’s growing electric vehicle industry

The company aims to become a lithium chemicals producer as well as a supplier of spodumene, quartz and feldspar products for the glass and ceramics industry.

Strong European support

Chairman Tony Sage is encouraged by the support being demonstrated in Europe for the strategy from investors, potential partners and others involved in the lithium industry.

He said: “We are progressing full steam ahead and it is our strong belief that our Wolfsberg project will be the first local producer of lithium hydroxide in Europe.”

READ: European Lithium has near-term DFS catalysts for integrated lithium supply strategy in Europe

EUR will use its capacity under ASX listing rule 7.1 to issue shares under the placement with shares to be issued and allotted by the company over the next three weeks as funds come in.

This placement is one of a number of near-term catalysts associated with the DFS.

READ: European Lithium hits impressive Wolfsberg ore test milestone ahead of schedule

These include drilling to upgrade resources in Zone 1 at Wolfsberg as well as ongoing test work.

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Fri, 10 May 2019 11:27:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220015/european-lithium-continues-to-gain-strong-european-support-for-lithium-strategy-220015.html
<![CDATA[News - European Lithium director shows confidence in integrated lithium strategy focused on Europe ]]> https://www.proactiveinvestors.com.au/companies/news/218015/european-lithium-director-shows-confidence-in-integrated-lithium-strategy-focused-on-europe-218015.html European Lithium Ltd (ASX:EUR) (FRA:PF8) (VSE:ELI) (NEX:EUR) director Stefan Mϋller has shown his confidence in the company’s integrated European lithium supply strategy through an on-market trade.

On Thursday, April 4, the non-executive director acquired 200,000 shares in a transaction valued at $22,000.

He now holds 1.05 million shares.

Near-term catalysts

The director has demonstrated his support for EUR as the company progresses toward the aim to become the first battery-grade lithium producer in Europe.

There are a number of near-term catalysts as EUR advances a definitive feasibility study (DFS) for the Wolfsberg Lithium Project in Austria, primarily drilling to upgrade resources in Zone 1.

READ: European Lithium hits impressive Wolfsberg ore test milestone ahead of schedule

A key DFS test work milestone was passed last month when EUR demonstrated that ore from the Wolfsberg project can be sorted in different ways to achieve consistent high-quality products.

Complex metallurgical tests are being carried out by German company Dorfner/Anzaplan, which has delivered the interim ‘Sensor Based Ore Sorting for the Wolfsberg Project’ report well ahead of schedule.

READ: European Lithium chairman’s big vote of confidence in integrated lithium supply strategy

EUR chairman Tony Sage said: “We are progressing full steam ahead and it is our strong belief that our Wolfsberg project will be the first local producer of lithium hydroxide in Europe.”

The company aims to become a lithium chemicals producer as well as a supplier of spodumene, quartz and feldspar products for the glass and ceramics industry.

READ: European Lithium sees massive opportunity to secure Wolfsberg Lithium Project financing through €1 billion funding program

EUR is also in discussions with several European banks to secure project financing and participate in a €1 billion battery production funding program launched by the German Ministry of Economy.

EUR is part of a syndicate applying for funds from the program to ramp-up battery production in Germany, with the syndicate comprising numerous acclaimed industry players and partners from at least two EU states.

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Fri, 05 Apr 2019 11:56:00 +1100 https://www.proactiveinvestors.com.au/companies/news/218015/european-lithium-director-shows-confidence-in-integrated-lithium-strategy-focused-on-europe-218015.html
<![CDATA[News - European Lithium hits impressive Wolfsberg ore test milestone ahead of schedule ]]> https://www.proactiveinvestors.com.au/companies/news/217371/european-lithium-hits-impressive-wolfsberg-ore-test-milestone-ahead-of-schedule-217371.html European Lithium Ltd (ASX:EUR) (FRA:PF8) (VSE:ELI) (NEX:EUR) has reached a key test work milestone, demonstrating that ore from the Wolfsberg Lithium Project in Austria can be sorted in different ways to achieve consistent high-quality products.

The complex metallurgical test work is being carried out by German company Dorfner/Anzaplan, which has delivered the interim ‘Sensor Based Ore Sorting for the Wolfsberg Project’ report well ahead of schedule.

READ: European Lithium commissions processing tests for lithium from Wolfsberg project

These tests form part of definitive feasibility study (DFS) work for the company’s integrated European lithium supply strategy centred on the Wolfsberg project.

“Significant milestone”

European Lithium CEO Dietrich Wanke said: “It is a significant milestone to achieve during the company’s complex metallurgical test work.

“These results prove the ore can be treated from AHP and MHP sources and can be sorted in different ways to achieve repeatable and consistent high-quality products.”

European Lithium aims to become a lithium chemicals producer as well as a supplier of spodumene, quartz and feldspar products for the glass and ceramics industry.

READ: European Lithium sees massive opportunity to secure Wolfsberg Lithium Project financing through €1 billion funding program

The Wolfsberg resource essentially comprises lithium pegmatite veins hosted in amphibolite (AHP) and mica schist (MHP).

The AHP ore contains relatively coarse-grained spodumene crystals whereas the MHP bears much finer crystals.

For the test work, samples were taken by European Lithium from the -70 mm bulk sample stockpiles and shipped to Dorfner.

Sensor-based sorting was conducted to reduce host rock dilution and preconcentrate the spodumene ore by rejecting host rock.

Three tests utilised

Tests were carried out separately for the AHP and MHP type materials in the +8 -25mm and +25 -70mm size fractions.

The three tests were:

Laser sorting tests on bulk samples (approximately 50 tons feed) including scavenger sorting. XRT sorting tests as an alternative to laser sorting including scavenger sorting. Laser sorting on recombined 80% (host rock)/20 (ore) mix.

3D model of Laser sorter.

In the bulk laser sorting tests results are comparable to previous sorting results, where 92.0 wt-% overall lithium recovery for MHP and 93.0 wt-% for AHP were achieved.

When adding the scavenger sorting stage in the calculation, the overall lithium recovery in the sorted ore improves to 95.5 wt-% for AHP ore and to 95.5 wt-% for MHP ore.

Compared to laser sorting, the XRT sorting was significantly less selective as indicated by the reduced recovery in the rougher stage.

XRT sorter test rig in Tomra’s technical centre.

Lithium recovery using XRT in the rougher product was in the range of 76.2 to 85.2 wt-%, compared to 86.3 to 92.6 wt-% using laser sorting at a similar product quality.

In addition, a significant amount of lithium and mass was separated in the scavenger product for recirculation to feed.

3D model of XRT sorter.

Therefore, the laser sorting technology appears to be the preferred solution for sorting of Wolfsberg ore.

READ: European Lithium has near-term DFS catalysts for integrated lithium supply strategy in Europe

The third testing method was utilised as high dilution with host rock is expected with up to 80% when mining narrow veins during the life of mine.

A flow sheet with rougher, scavenger and cleaner sorting was tested.

The quality of the final product after sorting (cleaner product) is similar as the products yielded after sorting of the samples as received (scavenger product).

Lithium recovery in the cleaner product was in the range of 53.2 to 67.6 wt-%.

Significant amounts of lithium are also in the cleaner tailings and scavenger product (6.3 to 19.6 wt-%).

These two products are recirculated in the commercial process, therefore, most of the lithium in these products should be recoverable.

The source of lithium in the host rock is recommended to be investigated further and has to be taken into account when using the sorting results for further recovery estimations during engineering studies.

“Focused on maintaining progress”

Chairman Tony Sage said: “We are pleased to hit this test work milestone well ahead of schedule and our team is focused on maintaining this progress to complete the DFS.”

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Thu, 28 Mar 2019 11:25:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217371/european-lithium-hits-impressive-wolfsberg-ore-test-milestone-ahead-of-schedule-217371.html
<![CDATA[News - European Lithium sees massive opportunity to secure Wolfsberg Lithium Project financing through €1 billion funding program ]]> https://www.proactiveinvestors.com.au/companies/news/216523/european-lithium-sees-massive-opportunity-to-secure-wolfsberg-lithium-project-financing-through-1-billion-funding-program-216523.html European Lithium Ltd (ASX:EUR) has entered into discussions with several European banks to secure project financing for its Wolfsberg Lithium Project and participate in a €1 billion battery production funding program launched by the German Ministry of Economy (BMWi). 

The company is part of a syndicate applying for funds from the funding program to ramp up battery production in Germany, with the syndicate comprising numerous acclaimed industry players and partners from at least two EU states.

 

 

READ: European Lithium has near-term DFS catalysts for integrated lithium supply strategy in Europe

European Lithium’s non-executive director Stefan Mϋller said the current developments were a testament to the quality of the project.

He said: “The great interest and support expressed by industry, capital markets, as well as local and European political members highlight the unique selling propositions of the Wolfsberg project.

“With lithium from the Wolfsberg project located in Carinthia and positioned at the very start of the value chain, our future industry partners will be the only ones in the near-term that are able to boast an entirely European solution for battery production, complying with the most demanding global standards in terms of a fully sustainable production cycle from mine to battery.”

READ: European Lithium chairman’s big vote of confidence in integrated lithium supply strategy

The company has engaged Germany-based Dorfner Anzaplan GmbH to develop the lithium refining process with the construction of a pilot plant underway.  

Dorfner will be engineering and defining the lithium refining process in the coming months, and depending on the results, European Lithium will be in a strong position to manufacture premium-quality lithium products from the beginning.

These results will then be incorporated into a definitive feasibility study.

European Lithium chairman Tony Sage said: “We are progressing full steam ahead and it is our strong belief that our Wolfsberg project will be the first local producer of lithium hydroxide in Europe.”

Advanced-staged discussions

European Lithium is also in advanced stages of discussions with several European companies regarding the completion of long-term offtake agreements. 

The credit ratings of potential offtake partners, the funding expected through the BMWi syndicate, as well as other grants, will positively impact the net present value (NPV) calculated in the pre-feasibility study released on April 27, 2018. 

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Fri, 15 Mar 2019 16:14:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216523/european-lithium-sees-massive-opportunity-to-secure-wolfsberg-lithium-project-financing-through-1-billion-funding-program-216523.html
<![CDATA[News - European Lithium chairman’s big vote of confidence in integrated lithium supply strategy ]]> https://www.proactiveinvestors.com.au/companies/news/213199/european-lithium-chairmans-big-vote-of-confidence-in-integrated-lithium-supply-strategy-213199.html European Lithium Ltd (ASX:EUR) (FRA:PF8) (NEX:EUR) chairman Tony Sage has demonstrated a big vote of confidence in the company’s integrated lithium supply strategy in Europe by acquiring a further 4 million shares.

The transactions of two lots of 2 million shares on January 22 and 23 were via off-market purchases for an indirect interest and had a total value of $340,000.

Strong support from directors

Sage’s support of the company follows recent purchases by two other company directors.

Earlier this month, non-executive director Malcolm Day purchased $200,000 worth of options in the company exercisable at 10 cents and expiring on June 30, 2020.

READ: European Lithium director invests $200,000 into company options

Day’s 20 million unlisted options were via an off-market purchase and add to his shareholding of around 14.5 million shares.

In September 2018, non-executive director Stefan Müller purchased 200,000 shares through on-market trades with a total value of $25,000.

READ: European Lithium director buys 200,000 shares on market

This increased Müller’s total holding in the company to 850,000 shares.

The directors have shown their support of EUR at the start of an important period in the company’s development.

READ: European Lithium has near-term DFS catalysts for integrated lithium supply strategy in Europe

There are a number of near-term catalysts as EUR advances a definitive feasibility study (DFS) for the Wolfsberg Lithium Project in Austria, which is now on a fast-track to development.

Primary catalysts in the DFS work include drilling to upgrade the resource, metallurgical test work and pilot processing.

Working towards higher mining rate

Upgrading the resource will allow the DFS to be based on a higher annual mining rate of up to 800,000 tonnes.

Inspecting pegmatite at Wolfsberg.

A scope of work for the DFS engineering design and integration of third-party studies has been completed by The Mineral Corporation (TMC) together with DRA Global.

DFS work at full pace

This has been based on the April 2018 pre-feasibility study which identified geology, hydrogeology, mining, metallurgy, land access and environmental areas to be investigated for the DFS.

These areas are now being addressed in the DFS.

SRK Consulting has also prepared a scope of work for the optimised mine design and increased declaration of mineral reserves, based on the PFS and results of the upcoming drilling program.

Samples being tested at pilot plant

Complex metallurgical test work and pilot processing also form part of the DFS and German company Dorfner Anzaplan is carrying out these tasks.

A 300-tonne sample with 150 tonnes each for Amphiboltite Hosted Pegmatite (AHP) and Micaschist Hosted Pegmatite (MHP) has been sent to Dorfner Anzaplan’s testing facilities.

This testing through a pilot plant is aimed at ensuring a high-quality final lithium hydroxide is produced using efficient and competitive metallurgical processes.

Increasing European interest

Increasing interest is being shown in Europe for EUR’s strategy on the back of burgeoning demand.

This interest is being boosted by a recent listing on the London-based NEX Exchange Growth Market.

The company is also investigating a listing on the Prime Market of the Vienna Stock Exchange (VSE) to complement the NEX listing and EUR’s existing Frankfurt and ASX listings.

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Thu, 24 Jan 2019 08:22:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213199/european-lithium-chairmans-big-vote-of-confidence-in-integrated-lithium-supply-strategy-213199.html
<![CDATA[News - European Lithium has near-term DFS catalysts for integrated lithium supply strategy in Europe ]]> https://www.proactiveinvestors.com.au/companies/news/212911/european-lithium-has-near-term-dfs-catalysts-for-integrated-lithium-supply-strategy-in-europe-212911.html European Lithium Ltd (ASX:EUR) (FRA:PF8) (NEX:EUR) has its sights set firmly on a vertically integrated lithium supply strategy in Europe and has a number of near-term definitive feasibility study (DFS) catalysts which will see it move nearer to the prize.

Unlike most other ASX-listed lithium players that are focused on China or Korea, EUR sees Europe as the key to unlocking the value of its lithium strategy.

READ: European Lithium makes steady progress in advancing Wolfsberg Lithium Project

With an advanced lithium project in Austria, a European financing facility, German metallurgical and processing technology, and growing demand from the nascent lithium battery plants of Europe, it is little wonder the company has increased access to European investors.

This has come through the recent listing on the London-based NEX Exchange Growth Market.

READ: European Lithium debuts on NEX Exchange Growth Market in London

These factors also see the company investigating a listing on the Prime Market of the Vienna Stock Exchange (VSE) to complement the NEX listing and its existing Frankfurt and ASX listings.

The primary near-term catalysts include drilling, metallurgical test work and pilot processing.

These are centred on ongoing work on a DFS at the Wolfsberg Lithium Project in Austria.

Drill equipment mobilised

Equipment has been mobilised to the Wolfsberg site for a 31-hole drilling program aimed at upgrading the Zone I 10.98 million-tonne JORC-compliant resource into the measured and indicated categories.

Drilling applications have been lodged with relevant authorities and drill collar locations and pads for the program have been surveyed by a licensed surveyor.

Approval from the authorities is expected to be received this quarter following which drilling will begin immediately.

Higher mining rate proposed

Upgrading the Wolfsberg resource will allow the DFS to be undertaken at the envisaged higher annual mining rate of up to 800,000 tonnes.

Definition of the scope of work for the DFS engineering design and integration of third-party studies has been completed by The Mineral Corporation (TMC) together with DRA Global.

This was based on results of the PFS, which was published in April 2018.

The PFS identified geology, hydrogeology, mining, metallurgy, land access and environmental areas to be investigated for the DFS so that design changes during the DFS will be minimised.

SRK Consulting has also prepared the scope of work for the optimised mine design and increased declaration of mineral reserves, based on the PFS and drilling program results when completed.

READ: European Lithium commissions processing tests for lithium from Wolfsberg project

Last month Dorfner Anzaplan was awarded the contract for complex metallurgical test work and pilot processing as part of the DFS and immediately began work.

A 300-tonne sample with 150 tonnes each for Amphiboltite Hosted Pegmatite (AHP) and Micaschist Hosted Pegmatite (MHP) has been sent to Dorfner Anzaplan’s German testing facilities for the detailed metallurgical process studies through the pilot plant.

This testing is to ensure a high-quality final lithium hydroxide is produced using the most efficient and competitive metallurgical processes from the beginning of the production cycle.

A mineralised sample from the Wolfsberg project.

Marketing work

Product marketing work is also progressing.

A marketing study by Benchmark Minerals Intelligence for the PFS projected that lithium hydroxide prices in Europe would continue to increase to a peak in 2022 and then decline to stabilise.

Taking recent global lithium industry developments into account, the company’s integrated European supply strategy remains unchanged.

The company is in discussion regarding future European offtake contracts and good progress has been made in the advanced discussions with potential offtake partners.

READ: European Lithium director invests $200,000 into company options

European Lithium has a $10 million finance facility with MEF I, LP (Magna) to fast-track the completion of the DFS.

An initial amount of $2.5 million was drawn down on September 14, 2018, and a further $7.5 million is available in tranches upon the company meeting key milestones relating to the DFS process.

PDAC representation

Through its association with German capital markets consulting company DGWA, European Lithium is represented at PDAC, the world’s largest mineral exploration & mining convention, in Toronto in early March.

For the fourth time in a row, DGWA is the only German capital markets consulting company on the 'Made in Germany' booth at PDAC.

Made in Germany is the official and federally supported German presence at numerous industry fairs worldwide and positions and represents a cross-section of German industry in the respective sectors.

DGWA, which has a broad network of German-speaking investors and a unique track record in successful transactions, supports international commodity companies in their activities on the European capital markets.

During PDAC visit Katharina Löckinger and Stefan Müller at the Made in Germany booth in the North Hall.

Horizon 2020 participation

The company’s subsidiary ECM Lithium AT GmbH has been invited to participate in the European Union funded Horizon 2020 - GREENPEG program.

This project aims to develop innovative exploration toolsets and proprietary technologies in order to secure the sustainable supply of lithium and other critical raw materials for Europe.

As it seeks to do this by increasing resources and reducing the import dependency of these raw materials, European Lithium’s strategy has potential to fit the bill.

This quarter ECM will submit the first of the two-stage submission process outlining suggested and planned works.

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Mon, 21 Jan 2019 09:06:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212911/european-lithium-has-near-term-dfs-catalysts-for-integrated-lithium-supply-strategy-in-europe-212911.html
<![CDATA[News - European Lithium director invests $200,000 into company options ]]> https://www.proactiveinvestors.com.au/companies/news/212093/european-lithium-director-invests-200000-into-company-options-212093.html European Lithium Ltd (ASX:EUR) non-executive director Malcolm Day has purchased $200,000 worth of options in the company exercisable at 10 cents expiring 30 June 2020.

Day acquired the 20 million unlisted options via an off-market purchase and adds them to his substantial shareholding of around 14.5 million shares.

READ: European Lithium commissions processing tests for lithium from Wolfsberg project

The company’s wholly-owned flagship project is the Wolfsberg Lithium Project in Austria, 270 kilometres south of Vienna.

A fully-funded definitive feasibility study (DFS) for Wolfsberg commenced in 2018 after a positive pre-feasibility study (PFS) was revealed.

Wolfsberg has access to established rail and road infrastructure which could be used to distribute the company’s lithium to European markets.

The company has ambitions to become the continent’s first lithium producer with the project, supplying the battery metals input as European Union governments encourage the uptake of electric vehicles.

READ: European Lithium exposed to Cervantes Corporation’s upcoming drill results

Yesterday, Cervantes Corporation Ltd (ASX:CVS) completed drilling seven reverse circulation (RC) holes into the Albury Heath Prospect within the Albury Heath Project in Western Australia.

Drilling focused on testing the extent of previously discovered bonanza gold in two intersections – 2 metres at 67.2 g/t gold from 27 metres and 5 metres at 63.1 g/t from 32 metres.

European Lithium holds 32 million shares in Cervantes representing a 6.47% interest in the company.

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Tue, 08 Jan 2019 08:25:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212093/european-lithium-director-invests-200000-into-company-options-212093.html
<![CDATA[News - European Lithium commissions processing tests for lithium from Wolfsberg project ]]> https://www.proactiveinvestors.com.au/companies/news/210088/european-lithium-commissions-processing-tests-for-lithium-from-wolfsberg-project-210088.html European Lithium Ltd (ASX:EUR) has commissioned tests of lithium-bearing raw material from its Wolfsberg project in Austria for processed into a lithium carbonate or hydroxide product.

A total of 300 tonnes of raw material has been delivered to Dorfner Anzaplan in Bavaria, Germany, for processing refinement tests.

READ: European Lithium makes steady progress in advancing Wolfsberg Lithium Project

The lithium-bearing raw material originated from historical test mining carried out in the existing exploration mine.

It will be used by Dorfner Anzaplan to fine-tune its refinement process, which has already successfully been used to process lithium by Nemaska Lithium Inc (TSX:NMX) in Canada.

A mineralised sample from Wolfsberg.

READ: European Lithium secures up to $10 million to fast-track Wolfsberg

European Lithium’s CEO Dietrich Wanke said: “Once again, we greatly benefit from having an already existing exploration mine and test mining completed.

“We have more than 1,500 tonnes of raw material available to carry out the optimisation process with our partner Dorfner Anzaplan now, a step that can usually only be taken at the start of mining operations.”

Results expected by mid-2019

Results from the processing refinement tests are expected by the middle of 2019.

European Lithium said the tests would be important for improving production once the Wolfsberg mine was fully operational.

The German company was engaged in the preparation of the pre-feasibility study (PFS) for the project and is now involved in the definitive feasibility study (DFS).

“European Lithium can be confident it will be able to produce lithium products of the highest quality and according quantity from the planned start of production, anticipated by end of 2021,” Wanke said.

“Flexible refinement process”

“In the future, mainly lithium solid state batteries will be used, especially in the automotive industry. “Against this backdrop, together with Dorfner Anzaplan, we will design a flexible refinement process for the end product, enabling us to meet the changing requirements of our future customers without delay.”

READ: European Lithium debuts on NEX Exchange Growth Market in London today

Earlier this week, the company began trading on the London-based NEX Exchange Growth Market.

European Lithium expects this listing will increase its exposure and access to Europe-based investment markets.

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Wed, 28 Nov 2018 16:37:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210088/european-lithium-commissions-processing-tests-for-lithium-from-wolfsberg-project-210088.html
<![CDATA[News - European Lithium debuts on NEX Exchange Growth Market in London today ]]> https://www.proactiveinvestors.com.au/companies/news/209878/european-lithium-debuts-on-nex-exchange-growth-market-in-london-today-209878.html European Lithium Ltd (ASX:EUR) (FRA:PF8) (VSE:ELI) (NEX:EUR) will begin trading on the London-based NEX Exchange Growth Market (NEX) today with the ticker EUR.

This follows the company’s successful application for admission to the NEX.

European Lithium expects the NEX Group growth market listing will increase its exposure and access to Europe-based investment markets.

READ: European Lithium Ltd plans NEX debut next week

Chairman Tony Sage said: “European Lithium is delighted to be joining NEX today, marking a significant milestone in the company’s journey to becoming Europe’s local lithium supplier.

“We believe this move creates an important opportunity for European investors, giving them greater access to the lithium sector amidst the global transition to electric vehicles.”

The company expects both its new listing and improved investor access will lead to better liquidity in the stock, which has its primary listing on the Australian Securities Exchange (ASX).

European Lithium’s securities also have secondary listings on the Frankfurt and Vienna stock markets.

READ: European Lithium makes steady progress in advancing Wolfsberg Lithium Project

The company’s wholly-owned flagship project is the Wolfsberg Lithium Project in Austria, 270 kilometres south of Vienna.

Wolfsberg has access to established rail and road infrastructure which could be used to distribute the company’s lithium to European markets.

The company has ambitions to become the continent’s first lithium producer with the project, supplying the battery metals input as European Union governments encourage the uptake of electric vehicles.

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Mon, 26 Nov 2018 15:45:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209878/european-lithium-debuts-on-nex-exchange-growth-market-in-london-today-209878.html
<![CDATA[News - European Lithium Ltd plans NEX debut next week ]]> https://www.proactiveinvestors.com.au/companies/news/209523/european-lithium-ltd-plans-nex-debut-next-week-209523.html European Lithium Ltd (ASX:EUR, FRA:PF8, VIE:ELI) has applied for admission to trading on London’s NEX Exchange Growth Market (NEX).

The Tony Sage-chaired company will list all its issued share capital on the exchange and expects to start trading on the London-based market on Monday, November 26, 2018 with the ticker EUR.

READ: European Lithium makes steady progress in advancing Wolfsberg Lithium Project

European Lithium expects the NEX Group growth market listing will increase its exposure and access to Europe-based investment markets.

Among these markets are the various UK investment markets.

European Lithium expects both its new listing and improved investor access will lead to better liquidity in the stock which has its primarily listing on the Australian Securities Exchange (ASX).

The Company’s securities also have secondary listings on the Frankfurt and Vienna stock markets.

European Lithium secures up to $10 million to fast-track Wolfsberg

European Lithium non-executive chairman Sage said, “the listing provides the company with many benefits.

“Providing European investors with greater access to invest and trade is key.

“We believe this move creates an important opportunity for European investors, giving them greater access to the lithium sector amidst the global transition to electric vehicles.”

A map of the Wolfsberg project in Austria

European Lithium’s wholly-owned flagship project is the Wolfsberg Lithium Project located in Austria.

The company has ambitions to become the continent’s first lithium producer with the project, supplying the battery metals input as European Union governments encourage the uptake of electric vehicles in the region.

The central European project is located 270 kilometres south of Vienna.

Wolfsberg has access to established rail and road infrastructure which could be used to distribute the company’s lithium to European markets.

READ: European Lithium Appoints project director for its advanced Austrian lithium project

European Lithium attracted a $10 million finance facility in September 2018 to enable it to complete a definitive feasibility study (DFS) for the project.

MEF I, L.P.’s flexible funding facility allows for a strategic partner to step in and provide alternative funding, such as cash for the project.

Cash may be drawn down in $2.5 million tranches, subject to milestones being met, with the first tranche already being drawn down.

The funded DFS by respected contractor SRK Consulting follows a strong pre-feasibility study (PFS) for the project, released in April 2018.

A sample from the project

The PFS for Wolfsberg supported its economic viability as a future lithium mining operation with a 10-12-year mine life.

The lithium project had a measured and indicated resource of 6.3 million tonnes at 1.17% lithium oxide at the time of the PFS – figures likely to be improved upon with additional drilling.

Wolfsberg’s PFS base case involved the company producing 620,000 tonnes a year run-of-mine for a net present value of A$343 million at an 8% discount rate (NPV8).

The company is hoping equipment and improved scheduling could lift the figure to 720,000 tonnes a year, giving Wolfsberg an NPV8 of A$442 million.

Wolfsberg’s accelerated case results in the measured and indicated resources of the base case being mined and processed in 10 years rather than 12.

The 20% increase in the processing rate would accelerate lithium hydroxide monohydrate production from about 8,400 tonnes a year to about 10,130 tonnes a year.

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Tue, 20 Nov 2018 00:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209523/european-lithium-ltd-plans-nex-debut-next-week-209523.html
<![CDATA[News - European Lithium makes steady progress in advancing Wolfsberg Lithium Project ]]> https://www.proactiveinvestors.com.au/companies/news/206953/european-lithium-makes-steady-progress-in-advancing-wolfsberg-lithium-project-206953.html European Lithium Ltd (ASX:EUR) is well-funded following its recent $10 million finance facility secured to complete the Definitive Feasibility Study (DFS) for the Wolfsberg Lithium Project in Austria.

The DFS is underway following up on a positive pre-feasibility study (PFS) in April 2018 that supported Wolfsberg’s economic viability as a future lithium mining operation.

READ: European Lithium secures up to $10 million to fast-track Wolfsberg

The $10 million facility allows EUR to ensure the DFS process is fully funded whilst retaining flexibility in the event negotiations for a strategic partner result in alternative funding, such as a cash injection into the project.

EUR has also commenced mobilisation for a drilling program to upgrade its 10.98 million JORC resource with drilling expected to follow in the fourth quarter of 2018.

READ: European Lithium director buys 200,000 shares on market

As part of the DFS, SRK Consulting is preparing the scope of work for the optimised mine design and increased declaration of mineral reserves, based on the PFS and current drilling program results when completed.

A 100-tonne sample with 50 tonnes each for Amphiboltite Hosted Pegmatite (AHP) and Micaschist Hosted Pegmatite (MHP) has been prepared for the detailed metallurgical process studies through the pilot plant.

This is to ensure a high quality final product (lithium hydroxide) with the most efficient and competitive metallurgical process.

READ: European Lithium aims to bank on European interest as it mulls primary Vienna Stock Exchange listing

EUR aims to bank on strong European interest in its Wolfsberg Lithium Project and is investigating moving its primary listing to the Vienna Stock Exchange (VSE).

The company’s board is considering the spin-off and main listing of its Austrian subsidiary in the PRIME MARKET on VSE as part of its integrated European lithium-ion battery supply strategy.

If this transaction proceeds, the company will strive for a rank in the top 40 companies on the VSE and participation in the ATX prime market index.

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Fri, 12 Oct 2018 17:10:00 +1100 https://www.proactiveinvestors.com.au/companies/news/206953/european-lithium-makes-steady-progress-in-advancing-wolfsberg-lithium-project-206953.html
<![CDATA[News - European Lithium director buys 200,000 shares on market ]]> https://www.proactiveinvestors.com.au/companies/news/205688/european-lithium-director-buys-200000-shares-on-market-205688.html European Lithium Ltd (ASX:EUR) has received a vote of confidence from its non-executive director Stefan Müller who has purchased 200,000 shares through on-market trades.

Müller acquired the shares for a value of around 12 to 13 cents each resulting in a total purchase value of $25,000.

The purchase increase Müller’s total holding in the company to 850,000 shares.

READ: European Lithium aims to bank on European interest as it mulls primary Vienna Stock Exchange listing

Müller was appointed to the board in October 2017 after playing a key role in helping European Lithium make history as the first Australian company to be admitted to the Vienna Stock Exchange (VSE).

Since the VSE listing, the percentage of European shareholders on the register has increased substantially.

READ: European Lithium secures up to $10 million to fast-track Wolfsberg

Furthermore, earlier this month, European Lithium secured a $10 million finance facility to fast-track the completion of a definitive feasibility study (DFS) at its Wolfsberg Lithium Project in Austria.

Notably, the financing facility entered into with MEF I, L.P. ensures the DFS process is fully funded.

With negotiations ongoing to secure a European strategic partner, the funding provides flexibility for potential partnership structures and alternative funding methods.

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Wed, 26 Sep 2018 08:27:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205688/european-lithium-director-buys-200000-shares-on-market-205688.html
<![CDATA[News - European Lithium aims to bank on European interest as it mulls primary Vienna Stock Exchange listing ]]> https://www.proactiveinvestors.com.au/companies/news/204485/european-lithium-aims-to-bank-on-european-interest-as-it-mulls-primary-vienna-stock-exchange-listing-204485.html European Lithium Ltd (ASX:EUR) aims to bank on strong European interest in its Wolfsberg Lithium Project in Austria and is investigating moving its primary listing to the Vienna Stock Exchange (VSE).

The company’s board is considering the spin-off and main listing of its Austrian subsidiary in the PRIME MARKET on VSE as part of its integrated European lithium-ion battery supply strategy.

If this transaction proceeds, the company will strive for a rank in the top 40 companies on the VSE and participation in the ATX prime market index.

“Logical next step”

Chairman Tony Sage said, “Shifting the company’s main listing to the VSE is the logical next step.

“This will provide greater access to the company’s shares in these markets by Austrian institutions and private wealth clients, something that all our key stakeholders have asked for.

“There is substantial and growing local interest and support for the Wolfsberg Lithium Project from local state and Federal governments.

“This support is essential to enable us to achieve our goal to be the first lithium supplier into an integrated European battery supply chain.”

In October 2017 EUR was the first Australian company admitted to the VSE and the listing has substantially increased exposure of the company and its Wolfsberg project to European investors.

This has enabled Austrian institutions and private wealth clients to become shareholders.

Since the VSE listing, the percentage of European shareholders on the register has increased substantially.

Initial steps to enable the company to consider transitioning its main listing to the VSE have almost been completed.

This entails transforming the Australian company’s GmbH subsidiary to an AG, which is similar to the move from a PTY to an LTD company in Australia.

EUR will remain listed on the ASX for the foreseeable future.

The company is focusing on fast-tracking development of the Wolfsberg project.

READ: European Lithium appoints project director for its advanced Austrian lithium project

In doing so, it has developed a strong management team with the appointments of a German CEO, Dietrich Wanke, and an experienced Austrian project director, Christian Heili.

A definitive feasibility study (DFS) is underway following up on a positive pre-feasibility study (PFS) in April 2018 that supported Wolfsberg’s economic viability as a future lithium mining operation.

Furthermore, drilling since the PFS was released has demonstrated Wolfsberg’s upside potential through an expanded resource.

READ: European Lithium secures up to $10 million to fast-track Wolfsberg

The company has also secured a $10 million finance facility with MEF I, L.P. to ensure that the DFS process is fully funded.

This facility is in the form of a convertible note and EUR will draw down $2.5 million immediately after completing definitive transaction documents.

A further $7.5 million will be available in $2.5 million tranches upon the company meeting key milestones relating to the DFS process and other standard conditions.

This facility can be cancelled at any time, especially if the company is successful with any of the advanced discussions underway with several offtake and/or strategic partners.

Sage said securing this funding provided the company “an opportunity to fast-track completion of the DFS with a high degree of flexibility given the progress we have made in negotiations with potential partners.”

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Mon, 10 Sep 2018 15:24:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204485/european-lithium-aims-to-bank-on-european-interest-as-it-mulls-primary-vienna-stock-exchange-listing-204485.html
<![CDATA[News - European Lithium secures up to $10 million to fast-track Wolfsberg ]]> https://www.proactiveinvestors.com.au/companies/news/204389/european-lithium-secures-up-to-10-million-to-fast-track-wolfsberg-204389.html European Lithium Ltd (ASX:EUR) has secured a $10 million finance facility to fast-track the completion of a definitive feasibility study (DFS) at the Wolfsberg Lithium Project in Austria.

Notably, the financing facility entered into with MEF I, L.P. ensures the DFS process is fully funded.

Furthermore, with negotiations ongoing to secure a European strategic partner, the funding provides flexibility for potential partnership structures and alternative funding methods.

READ: European Lithium appoints project director for its advanced Austrian lithium project

European Lithium’s chairman Tony Sage said: “Securing the funding provides the company an opportunity to fast-track completion of the DFS with a high degree of flexibility given the progress we have made in negotiations with potential partners.”

The $10 million facility is in the form of a convertible note and European Lithium will draw down $2.5 million immediately following completion of definitive transaction documents.

A further $7.5 million will be available in $2.5 million tranches upon the company meeting key milestones relating to the DFS process and other standard conditions.

Aiming to be Europe’s first lithium producer

European Lithium’s next major milestone on the road to becoming Europe’s first lithium producer is the commencement of the DFS.

The DFS will follow on from a positive pre-feasibility study (PFS) in Apirl 2018 that supported Wolfsberg’s economic viability as a future lithium mining operation.

Furthermore, drilling since the PFS was released has demonstrated Wolfsberg’s upside potential through an expanded resource.

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Fri, 07 Sep 2018 09:48:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204389/european-lithium-secures-up-to-10-million-to-fast-track-wolfsberg-204389.html
<![CDATA[News - European Lithium appoints project director for its advanced Austrian lithium project ]]> https://www.proactiveinvestors.com.au/companies/news/202280/european-lithium-appoints-project-director-for-its-advanced-austrian-lithium-project-202280.html European Lithium Ltd (ASX:EUR) (FRA:PF8) (VIE:ELI) has appointed Christian Heili as project director for the company’s advanced Wolfsberg Lithium Project in Austria.

Heili is a highly experienced mining engineer with more than 30 years’ experience in business, project management and wide-ranging operations including underground and beneficiation processes within the mining industry.

Austrian-born Heili is fluent in both English and German.

EUR chairman Tony Sage said: “We’re very pleased to have Chris join the team in Austria and believe his expertise and experience will help fast-track the project towards operation.”

READ: European Lithium passes first stage of EU funding program for lithium technology

Heili has experience with a diverse range of commodities and has worked internationally in previous roles including, overall project manager for Katanga Mining (TSE:KAT) in DRC, De Beers in South Africa and AngloGold Ashanti (JSE:ANG) in Mali, among others.

The appointment further strengthens EUR’s operating management in Austria.

READ: European Lithium’s new CEO will guide transition to near-term lithium producer

Heili’s previous roles have seen him take responsibility over a large workforce and his experience extends to training and mentoring.

He will work closely with EUR’s new chief executive officer and consultants playing a critical role in overseeing the definitive feasibility study (DFS) on Wolfsberg, which is anticipated to commence in the third quarter.

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Mon, 06 Aug 2018 17:34:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202280/european-lithium-appoints-project-director-for-its-advanced-austrian-lithium-project-202280.html
<![CDATA[News - European Lithium banks on gold upside of Cervantes as it lifts stake to 8% ]]> https://www.proactiveinvestors.com.au/companies/news/200244/european-lithium-banks-on-gold-upside-of-cervantes-as-it-lifts-stake-to-8-200244.html European Lithium Ltd (ASX:EUR) (FRA:PF8) (VSE:ELI) is banking on the gold strategy of Cervantes Corporation Limited (ASX:CVS) by securing an 8% stake in the explorer.

Cervantes has received bonanza grade gold results of up to 202.8 g/t, 129.3 g/t and 49 g/t from its Albury Heath project in Western Australia.

READ: Cervantes Corporation surges 143% on bonanza-grade gold results from Albury Heath

The upside represented by the gold explorer encouraged European Lithium to take more scrip instead of cash from finalising the sale of its Paynes Find Gold Project to Cervantes.

This transaction has settled with total consideration comprising $500,000 cash, of which

$420,000 has been received, and $500,000 in share consideration, also received.

The parties have agreed to settle the remaining cash consideration payable of $80,000 through the issue of 7 million Cervantes shares at an issue price of 1.14 cents each.

READ: European Lithium chairman buys more shares

European Lithium’s non-executive chairman Tony Sage said: “We are very pleased that this transaction has now completed.

“We wish CVS all the best in the development of the Paynes Find project and more recently the very high grade results from Albury Heath.

“To achieve further returns we decided to take more scrip instead of cash because of the potential upside in the latest results which in turn will further add value to European Lithium."

European Lithium will also be issued one free attaching unquoted option for every two shares issued which are exercisable at 1.5 cents each on or before June 30, 2020.

READ: European Lithium passes first stage of EU funding program for lithium technology

As well as being leveraged to Cervantes, the Paynes Find transaction has provided European Lithium with valuable funding with which to fast-track its flagship Wolfsberg Lithium Project in Austria.

The company’s increased position in Cervantes is already showing positive signs as shares traded at up to 1.7 cents on the back of the Albury Heath results.

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Fri, 06 Jul 2018 10:46:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200244/european-lithium-banks-on-gold-upside-of-cervantes-as-it-lifts-stake-to-8-200244.html
<![CDATA[News - European Lithium passes first stage of EU funding program for lithium technology ]]> https://www.proactiveinvestors.com.au/companies/news/199913/european-lithium-passes-first-stage-of-eu-funding-program-for-lithium-technology-199913.html European Lithium Ltd’s (ASX:EUR) (FRA:PF8) (VIE:ELI) 100% subsidiary, ECM Lithium AT GmbH, is among a consortium of 17 entities to have passed the first evaluation stage for funding from the EU Research and Innovation program, Horizon 2020.

The 17 entities comprise of research institutes and technology development organisations, specialised SMEs and three European lithium-mineral miners (of which ECM is one).

The consortium’s proposal was submitted in February under the call topic, Innovative Technologies for the Extraction of Lithium from European Lithium Ore Resources (LithOs), seeking €4.9 million EU funding.

READ: European Lithium chairman buys more shares

European Lithium non-executive chairman Tony Sage said: “Europe recognises the importance that technology plays in the lithium-minerals industry and this funding program is further evidence that the EU Commission agree and are willing to support local industry.

“We look forward to receiving the results of the final evaluation later in the year.”

Technologies to progress European lithium production

LithOs aims to develop innovative, proprietary technologies that would make European lithium production more competitive and self-sustainable.

There are a number of participants in the Horizon 2020 program and strong competition has resulted in a success rate of less than 10% for submissions.

The second and final evaluation stage for LithOs will take place in the third quarter of this year.

READ: European Lithium’s new CEO will guide transition to near-term lithium producer

European Lithium is well advanced on the path to beginning production from its Wolfsberg Lithium Project in Austria in 2020.

The company’s participation in Horizon 2020 is an example of its continuous effort to be part of the development of innovative lithium technologies to advance its projects and take a leading position among its peers.

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Mon, 02 Jul 2018 13:26:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199913/european-lithium-passes-first-stage-of-eu-funding-program-for-lithium-technology-199913.html
<![CDATA[News - European Lithium to host 100 people at its Wolfsberg Lithium Project ]]> https://www.proactiveinvestors.com.au/companies/news/197782/european-lithium-to-host-100-people-at-its-wolfsberg-lithium-project-197782.html European Lithium Ltd (ASX:EUR) (FRA:PF8) (VSE:ELI) will host 100 people today and tomorrow at its flagship 100% owned Wolfsberg Lithium Project in Austria.

The people will include retail and institutional investors, politicians, press and representatives from various economic institutions from Vienna, Berlin and Brussels.

Chairman, Tony Sage, director, Stefan Muller and CEO, Dietrich Wanke, will host the visit and present the results of the recent PFS and recent zone II drilling results to the attendees.

READ: European Lithium chairman buys more shares

The mine visit days will provide all participants with the opportunity to get to know the project and the team personally.

In addition, attendees can hear third-party neutral opinion from the experts and consultants in attendance.

READ: European Lithium’s new CEO will guide transition to near-term lithium producer

Recently, European Lithium promoted Dietrich Wanke to CEO of the company, providing an operational focus as the flagship Wolfsberg Lithium Project advances along the development path.

He replaces the outgoing Steve Kesler who has been with the company for four years.

Wanke has been running company operations as general manager since 2016 based in Austria, the location of the Wolfsberg project.

He has been responsible for the development of the Wolfsberg resource from an exploration into a pre-production project. 

Working towards commencing the DFS

The next major milestone on the road to becoming Europe’s first lithium producer is the commencement of the definitive feasibility study, anticipated for the September quarter.

European Lithium is also in discussions with numerous European corporates regarding potential partnerships.

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Tue, 29 May 2018 13:36:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197782/european-lithium-to-host-100-people-at-its-wolfsberg-lithium-project-197782.html
<![CDATA[News - European Lithium chairman buys more shares ]]> https://www.proactiveinvestors.com.au/companies/news/197771/european-lithium-chairman-buys-more-shares-197771.html European Lithium Ltd (ASX:EUR) chairman Tony Sage has recently increased his shareholding in the company.

Sage recently purchased 509,181 shares increasing his total interest in the company to over 7.1 million shares.

READ: European Lithium’s new CEO will guide transition to near-term lithium producer

The company aims to become Europe’s first lithium producer through the development of the Wolfsberg Lithium Project in Austria.

PFS values Wolfsberg at up to $441.9 million

Last month, results from a pre-feasibility study into a mining operation at Wolfsberg assigned a pre-tax net present value (NPV) of up to $441.9 million.

Notably, the valuation was based on only the measured and indicated resource of 6.3 million tonnes at 1.17% lithium oxide.

READ: European Lithium's PFS shows Wolfsberg's economic viability and demonstrates upside

A definitive feasibility study is expected to commence in the September quarter, which could potentially evaluate mining a significantly larger lithium resource.

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Tue, 29 May 2018 08:19:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197771/european-lithium-chairman-buys-more-shares-197771.html
<![CDATA[News - European Lithium’s new CEO will guide transition to near-term lithium producer ]]> https://www.proactiveinvestors.com.au/companies/news/196688/european-lithiums-new-ceo-will-guide-transition-to-near-term-lithium-producer-196688.html European Lithium Ltd (ASX:EUR) expects that newly appointed CEO Dietrich Wanke will successfully guide the company in its transition from lithium explorer to producer.

The company is well advanced on the path to beginning production from its Wolfsberg Lithium Project in Austria in 2020.

The new CEO has extensive operational experience, which will help facilitate this process.

READ: European Lithium promotes Dietrich Wanke to CEO

Following is an interview conducted last week by the Austrian-based Börse Social Network Club with the new CEO Dietrich Wanke and European Lithium’s non-executive director Stefan Müller.

Q: What were the reasons for the board of directors to appoint Dietrich as the new CEO?

Müller: We have followed a clear and linear process of progress since the commencement of the 'internal' PFS in spring last year, with the aim to produce lithium in the near future.

We have taken a big step in the right direction by completing the PFS, where the former CEO Steve Kesler played an instrumental role.

European Lithium is no longer an exploration company with the achieved and expected drilling results.

Changed requirements

By appointing Dietrich as CEO, we are taking into account the significantly changed requirements for the company.

We now need Dietrich's many years of experience in setting up and commissioning mine projects.

Furthermore, we are converting the Austrian GmbH, whose managing director Dietrich has already been for two years, into an AG, so it was consistent to make him CEO of the parent company.

He has also built up the entire team in Wolfsberg and knows the mine better than anyone else.

READ: European Lithium zone II drilling results pave way for increase in lithium resources at Wolfsberg

Q: What are the next steps towards production?

Wanke: The last ‘formal’ act is the completion of the definitive feasibility study (DFS).

We are getting corresponding offers and expect the order to be placed at the beginning of the third quarter.

In parallel, we are drilling the zone I required for the JORC code and completing the drill program in zone II.

We expect to be able to determine a resource size of over 20 million tonnes and we anticipate the start of production in 2020.

Due to the exploration work in the 80s, we already have an intact mining structure on which we can easily build and which gives us a clear picture of the geological conditions in the mountain.

Capital requirements

Q: The production launch will cost money. What numbers do you expect? And will this be possible without a capital raise or will you turn again to investors?

Müller: We expect a further capital requirement for the DFS of max €15 million but do not plan to obtain these funds through another capital raising.

The costs of the drilling programs are mostly paid for or the corresponding funds available.

Since the positive completion of the PFS at the latest, we have been on the radar of many potential lithium buyers in Europe and are already engaged in concrete discussions about potential partnerships.

A pre-financing of the DFS could be a possible component of such a partnership among other models.

Although we understand the current impatience of shareholders, we will now take time to make these very important strategic decisions.

Industry interest

European Lithium is receiving great interest from industry and also in the setting of the European Battery Alliance, for example, where we are present in high-level meetings as one of the very few European potential producers.

The costs of getting the mine ready for production will not be financed through capital raising but as it is common in the industry, through partnerships, financings, subsidies, grants or, in the case of a takeover, entirely by third parties.

Q: In the past few days, all three directors have bought European Lithium and Cape Lambert shares respectively, there is quite a positive news flow and the outlook seems good - why is the stock currently not moving?

Müller: On the one hand, commodity and, above all, lithium stocks have been under pressure worldwide in recent weeks, on the other hand, our shareholders still expect news in the shortest possible intervals.

These will no longer exist from now on, as the drilling is largely completed or will no longer provide any real news.

The task of the management team is to make the best possible decisions for the shareholders, and since this depends on some of the largest companies in the industry, the process takes time. Some investors draw wrong conclusions and sell.

Exciting time for EUR

The next weeks and months will be very exciting for our company and we are sure that the European Lithium share price development will be more than pleasant for shareholders in the future.

Already now, based on an official resource size, which is probably only about a third of what is expected from the latest drilling results, both PFS and research report of First Berlin show results significantly higher than current prices.

If hard facts in the form of partnerships are added, the stock market should reward this.

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Thu, 10 May 2018 09:29:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196688/european-lithiums-new-ceo-will-guide-transition-to-near-term-lithium-producer-196688.html
<![CDATA[News - European Lithium promotes Dietrich Wanke to CEO ]]> https://www.proactiveinvestors.com.au/companies/news/196456/european-lithium-promotes-dietrich-wanke-to-ceo-196456.html European Lithium Ltd (ASX:EUR) has promoted Dietrich Wanke to CEO of the company, providing an operational focus as the flagship Wolfsberg Lithium Project advances along the development path.

He replaces the outgoing Steve Kesler who has been with the company for four years.

Wanke has been running company operations as general manager since 2016 based in Austria, the location of the Wolfsberg project.

He has been responsible for the development of the Wolfsberg resource from an exploration into a pre-production project.  

READ: European Lithium board purchases over $110,000 of stock on-market

European Lithium’s chairman Tony Sage said: “It’s a critical time for the company as the project progresses toward operation, the skills that Dietrich can bring to his new role will be most valuable at this important time.

“On behalf of the board, I would like to thank Steve Kesler for his dedication to the company over the past four years.

“He has been instrumental in developing the company and completing the positive PFS for the Wolfsberg Lithium Project.”

More than 30 years’ experience

Wanke is a mine engineer and surveyor with over 30 years’ experience in management at operational level for both underground and open cut mines.

His experience extends through all operational phases, starting from greenfield exploration to full-scale production as well as extension of existing mines.

Wanke has worked across multiple countries with multiple commodities.

His previous roles include:

• General manager for Marampa Iron Ore in Sierra Leone;
• General manager for Tolukuma Gold Mines in Papua New Guinea;
• Mine manager for Atlas Iron in Western Australia;
• Technical services manager for Thiess (hard coal) in Indonesia;
• Mine manager for Kimberley Diamonds in Western Australia;
• Technical services manager for Lightning Nickel in Western Australia; and
• Technical director and technical services manager with a coal focus in Germany.

READ: European Lithium zone II drilling results pave way for increase in lithium resources at Wolfsberg

The next major milestone on the road to becoming Europe’s first lithium producer is the commencement of the definitive feasibility study, anticipated for the September quarter.

European Lithium is also in discussions with numerous European corporates regarding potential partnerships. 

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Mon, 07 May 2018 09:53:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196456/european-lithium-promotes-dietrich-wanke-to-ceo-196456.html
<![CDATA[News - European Lithium board purchases over $110,000 of stock on-market ]]> https://www.proactiveinvestors.com.au/companies/news/196103/european-lithium-board-purchases-over-110000-of-stock-on-market-196103.html European Lithium Ltd (ASX:EUR) board members Tony Sage and Malcolm Day have purchased $117,928 worth of company shares on-market over recent weeks.

The on-market buying from Sage, the company’s non-executive chairman, and non-executive director Day are a testament to the board’s confidence in the company’s future.

The share purchases were disclosed on three occasions, beginning with Day on April 19, and followed by Sage on April 30 and today.

Sage now holds over 6.4 million shares in the company and Day holds over 14.4 million shares.

 

 

Last week, European Lithium received drill results confirming the resource expansion potential of the zone II exploration area at its flagship Wolfsberg project in Austria.

Assays received for four of the five holes drilled all show multiple pegmatite intersections with results featuring 7.05 metres grading up to 1.9% lithium oxide.

Thicknesses and grades were similar to those seen in zone I confirming the potential of zone II to mirror the JORC resource in zone I of 10.98 million tonnes grading 1.00% lithium oxide.

All drill hole data from zone II will be used to develop a geological model to plan future drilling and estimate a maiden JORC resource.  

PFS values Wolfsberg at up to $441.9 million

Last month, results from a pre-feasibility study into a mining operation at Wolfsberg assigned a pre-tax net present value (NPV) of up to $441.9 million.

Notably, the valuation was based on only the measured and indicated resource of 6.3 million tonnes at 1.17% lithium oxide.

READ: European Lithium's PFS shows Wolfsberg's economic viability and demonstrates upside

A definitive feasibility study is expected to commence in July, which could potentially evaluate mining a significantly larger lithium resource.

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Tue, 01 May 2018 13:19:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196103/european-lithium-board-purchases-over-110000-of-stock-on-market-196103.html
<![CDATA[News - European Lithium says took part in the third high level meeting of the European Battery Alliance in Brussels ]]> https://www.proactiveinvestors.com.au/companies/news/195950/european-lithium-says-took-part-in-the-third-high-level-meeting-of-the-european-battery-alliance-in-brussels-195950.html European Lithium Ltd (ASX:EUR), represented by the DGWA GmbH, took part in the third high level meeting of the European Battery Alliance (EBA) in Brussels on Thursday.

In a statement, European Lithium noted that the EBA is calling on the European industry to take advantage of the global market for batteries, which is expected to reach €250bn annually by 2025; supporting members all along the supply chain.

WATCH: European Lithium publishes positive PFS for Austria project

It added that the alliance gathers key players round the table such as Tesla, Volkswagen, Daimler, Ford, Renault, BMW, BASF as well as leading research institutes and commission services.

The group said a  key point on the agenda addresses the facilitation of the expansion/creation of European source of raw materials to ensure supply within Europe.

Stefan Müller, CEO of DGWA GmbH said: “European Lithium is enjoying strong interest from all players.”

He added: “European Lithium is excited to be working with numerous potential partners from industry, leading research institutes and the European Commission to develop a competitive edge for the European electrification in a sustainable, business-minded way.”

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Fri, 27 Apr 2018 20:39:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195950/european-lithium-says-took-part-in-the-third-high-level-meeting-of-the-european-battery-alliance-in-brussels-195950.html
<![CDATA[News - European Lithium zone II drilling results pave way for increase in lithium resources at Wolfsberg ]]> https://www.proactiveinvestors.com.au/companies/news/195912/european-lithium-zone-ii-drilling-results-pave-way-for-increase-in-lithium-resources-at-wolfsberg-195912.html European Lithium Limited (ASX:EUR, FRA:PF8, VSE:ELI) has confirmed the potential of zone II at its Wolfsberg project in Austria to significantly boost lithium resources.

This follows the release of promising results from surface drilling in zone II with widths and grades higher than in zone I.

Five drill holes were completed during the March quarter of 2018, four of which showed multiple pegmatite intersections, while results of the fifth are pending.

All holes show multiple intersections

The four drill holes all show multiple intersections of lithium-bearing pegmatite in both amphibolite and mica schist host rocks.

 

Adding further support that this zone could emulate zone I was the fact that grades of the intersections were better than those in zone I, which has an established resource of about 11 million tonnes.

As well as thick intersections, there were robust grades of up to 2.5% lithium, which are higher than in zone I.

Similarities to zone I indicate potential

Thicknesses and grades are better than those in zone I with one notable drill hole intersecting a pegmatite vein of 7.05 metres.

European Lithium chairman Tony Sage said: “These results confirm the potential of zone II to be superior to the resources declared in zone I.”

“Following receipt of all assay data from the current drilling program a geological model for zone II will be developed.

“This will include all previous drilling results with the intent of estimating a maiden inferred resource for zone II.

“A follow-up drilling program in zone II will then be proposed to further increase resources in that zone.”

Previous surface sampling proves accurate

The current resource for the project in zone I, the northern limb of an anticline, was declared following verification of previous drilling data.

Zone II is the southern limb of the anticline.

Surface sampling of pegmatite boulders and limited scout drilling in 2012 on this southern limb demonstrated the presence of lithium-bearing pegmatites.

There are 12 completed drill holes in zone II, including those from 2012, and they will be used to establish a preliminary geological model for the zone.

This will be used to plan the next phase of drilling in zone II and also estimate a maiden inferred resource.

READ: European Lithium's PFS shows Wolfsberg's economic viability and demonstrates upside

Once a new resource is defined after a further drilling program it will have a positive impact on the NPV, which was announced three weeks ago.

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Fri, 27 Apr 2018 11:35:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195912/european-lithium-zone-ii-drilling-results-pave-way-for-increase-in-lithium-resources-at-wolfsberg-195912.html
<![CDATA[Media files - European Lithium publishes positive PFS for Austria project ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9001/european-lithium-publishes-positive-pfs-for-austria-project-9001.html Fri, 06 Apr 2018 09:17:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9001/european-lithium-publishes-positive-pfs-for-austria-project-9001.html <![CDATA[News - European Lithium's PFS shows Wolfsberg's economic viability and demonstrates upside ]]> https://www.proactiveinvestors.com.au/companies/news/194286/european-lithium-s-pfs-shows-wolfsberg-s-economic-viability-and-demonstrates-upside-194286.html European Lithium Ltd's (ASX:EUR) (FRA:PF8) (VSE:ELI) pre-feasibility study (PFS) on its Wolfsberg Lithium Project in Austria demonstrates significant upside.

Results confirm the technical and economic viability of the project, but another scenario emerged which would see larger production over a longer life.

This would result from further drilling to move 5 million tonnes to the indicated category in order to boost mine life, further supported by results from drilling in Zone II.

Drilling to upgrade resource

A drilling program to convert this resource has been developed and submitted to the mining authority for approval.

European Lithium chairman Tony Sage said: “Completion of the PFS, which establishes the technical and economic viability of the Wolfsberg Lithium Project, is a major step in its development.

“The PFS outlines the development of an underground mine producing, in the base case, an average of about 620,000 tonnes per annum Run of Mine (RoM).”

DFS could be a game changer

Sage said: “The company will endeavour to formally start a definitive feasibility study (DFS) in July with the aim of completing it before the end of 2018.”

The resource metrics and the mine program that will be used in the DFS could indicate a project with a much higher value.

However, during the development of the mine plan, it became evident that an accelerated development which would achieve increased output was viable, improving the economic outcomes.

Consequently, this accelerated case is arguably the key takeaway, particularly given that it should better reflect the likely outcome of the definitive feasibility study (DFS).

Management ascertained that with little extra equipment and improved scheduling the mining rate could be increased to about 720,000 tonnes per annum.

Accelerated case includes 20% increase in processing rate

Opting for the accelerated case appears to be well supported by implied valuations with an NPV8 of about $442 million comparing favourably with the base case of $343 million.

It is important to note that the PFS is based only on the current measured and indicated resource of 6.3 million tonnes at 1.17% Li2O.

The accelerated case results in the measured and indicated resources of the base case being mined and processed in 10 years rather than 12.

The 20% increase in processing rate results in lithium hydroxide monohydrate production increasing from an average of about 8,400 tonnes per annum to an average of about 10,130 tonnes per annum.

Potential to increase to production of 800,000 tonnes per annum

The mine design consultant concluded that mining rates could be further increased to about 800,000 tonnes per annum which will probably be the upper limit for efficient mining.

However, this will require additional indicated resources to support the higher mining rate and increase the mine life which should increase the NPV of the project further.

On this note, it is possible that promising drilling results from Zone II of the deposit, which haven’t been taken into account in the PFS, could support higher production rates over a longer mine life.

Further drilling in Zone II was undertaken between January and March with all five holes drilled showing numerous pegmatite intersections.

READ: European Lithium hits 10-metre intersection in Zone II, nearly double the widest intersection of Zone I

Assay results are anticipated in mid-April following which a maiden resource in Zone II should be declared.

The aim is to have increased measured and indicated resources for the DFS so that the project can be designed and evaluated at a mining rate of about 800,000 tonnes per annum.

Right place, right time

The company is on track to become a major supplier to an integrated lithium industry in Europe.

This is a region where motor vehicle manufacturers are accelerating electric vehicle (EV) production and lithium battery plants are under construction or being planned.

With these developments have strong national government and European Commission support, the Wolfsberg project is ideally situated. 

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Thu, 05 Apr 2018 10:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194286/european-lithium-s-pfs-shows-wolfsberg-s-economic-viability-and-demonstrates-upside-194286.html
<![CDATA[News - European Lithium updates on sale of non-core project, PFS expected this week ]]> https://www.proactiveinvestors.com.au/companies/news/194095/european-lithium-updates-on-sale-of-non-core-project-pfs-expected-this-week-194095.html European Lithium Ltd (ASX:EUR) has divested its Paynes Find Gold Project in Western Australia to Cervantes Corporation Ltd (ASX:CVS).

The transaction has provided the company with valuable funding which is able to be used to fast-track its flagship Wolfsberg Lithium Project in Austria.

The total consideration for the transaction comprises $500,000 cash and $500,000 in Cervantes shares.

Parties agree to amended payment terms

To date, $270,000 of the cash component and the entire $500,000 share component has been received.

The parties have agreed to amend the payment terms of the remaining $230,000 cash consideration payable as set out below:

▪ $75,000 on or before 31 March 2018;
▪ $75,000 on or before 31 May 2018; and
▪ $80,000 on or before 30 June 2018.

READ: European Lithium hits 10-metre intersection in Zone II, nearly double the widest intersection of Zone I

Notably, European Lithium expected to receive the pre-feasibility study (PFS) on the Wolfsberg Lithium Project from its consultant before the end of last week.

The company endeavours to complete its review and release the results of the PFS by the end of this week.

Recent 10-metre intersection highlights Wolfsberg’s growth potential

Last week, the company outlined that it had completed its Zone II drilling program at the Wolfsberg Lithium Project in Austria.

All five holes showed numerous pegmatite intersections with one measuring 10.0 metres true width.

By comparison, the widest intersection seen in Zone I was 5.5 metres.

Geological evidence continues to build supporting the notion that Zone II can host significant lithium resources that can materially increase Wolfsberg’s future mine life.

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Tue, 03 Apr 2018 09:58:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194095/european-lithium-updates-on-sale-of-non-core-project-pfs-expected-this-week-194095.html
<![CDATA[News - European Lithium hits 10-metre intersection in Zone II, nearly double the widest intersection of Zone I ]]> https://www.proactiveinvestors.com.au/companies/news/193981/european-lithium-hits-10-metre-intersection-in-zone-ii-nearly-double-the-widest-intersection-of-zone-i-193981.html European Lithium Ltd (ASX:EUR) completed its Zone II drilling program earlier this week at the Wolfsberg Lithium Project in Austria.

The program comprised five holes totalling 1,329 metres of diamond drilling with assay results expected mid-April.

10-metre intersection highlights Wolfsberg’s growth potential

All five holes showed numerous pegmatite intersections with one measuring 10.0 metres true width.

By comparison, the widest intersection seen in Zone I was 5.5 metres.

Geological evidence continues to build supporting the notion that Zone II can host significant lithium resources that can materially increase Wolfsberg’s future mine life.

READ: European Lithium assays confirm Zone II resource potential

Three drill holes completed in June 2017 first confirmed wide high-grade pegmatite veins in Zone II at Wolfsberg.

Notably, the current measured and indicated resource of 6.3 million tonnes at 1.17% lithium oxide for Wolfsberg is based solely on drilling on the northern limb of an anticline.

Geological interpretation suggests that the lithium-bearing pegmatite veins should continue to the southern limb of the anticline.

Pre-feasibility study expected from consultant this week

The company expects to receive the pre-feasibility study (PFS) on the Wolfsberg Lithium Project from its consultant before the end of this week.

The company will endeavour to complete their review and release the results of the PFS by April 5, 2018.

Upcoming drilling at Zone I looking to extend mine life

A new drilling program is planned in Zone I with the aim of converting Inferred resources into the Indicated JORC category.

The program will consist of 31 holes for 11,330 metres.

Of these 31 holes, three will be for geotechnical analysis of the proposed location of the underground crushing and ore sorting plant.

Drilling permits are expected by the end of April 2018 and it is expected that mobilisation can take place in May 2018.

Results from the program are expected to be included in the project definitive feasibility study (DFS).

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Thu, 29 Mar 2018 09:22:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193981/european-lithium-hits-10-metre-intersection-in-zone-ii-nearly-double-the-widest-intersection-of-zone-i-193981.html
<![CDATA[News - European Lithium's resource expansion and project studies could provide momentum in 2018 ]]> https://www.proactiveinvestors.com.au/companies/news/193017/european-lithium-s-resource-expansion-and-project-studies-could-provide-momentum-in-2018-193017.html European Lithium Ltd (ASX:EUR) is approaching a crucial period as it gains an insight into the prospects of expanding and defining the Wolfsberg Lithium Project in Austria.

The imminent prefeasibility study (PFS) will also assist investors in wrapping some numbers around the project, a potential share price catalyst.

On this note, Tony Sage, non-executive chairman, provided some insight as to the metrics investors should be on the lookout for in the PFS.

Focus on net present value figure

Sage said: “The key number will be the net present value (NPV) as this will be weighed up against European Lithium’s market capitalisation.”

The company’s market capitalisation stands at about $120 million.

As a back of the envelope example, should the NPV come in at $150 million, clinically speaking this would justify a share price of 33 cents.

This compares with Monday’s closing price of 26.5 cents.

Location, location, location

While the intricacies of examining project metrics require some detailed analysis, there is one clear feature of the Wolfsberg project that needs no explanation.

Sage said: “To coin a realtor’s phrase, Wolfsberg’s overarching compelling investment attribute is location, location, location.

“Situated within 40 kilometres of the Samsung SDI Battery Systems plant in Graz, Austria, as well as being in close proximity to other battery manufacturers and five of the world’s largest motor vehicle manufacturers, it doesn’t get any better.

“Our proximity to end markets only makes our financial model more robust.”

Resource expansion from zone two drilling

Drilling is underway in zone two of the Wolfsberg lithium deposit which should provide management with a better understanding of the overall resource.

READ: European Lithium eyes increased resource in Austria as it restarts drilling

This is an important part of the project given that the current resource in zone one could be substantially increased by drilling down dip into zone two.

This part of the deposit is the southern limb of an anticline of which the northern limb (zone one) has been the focus of all exploration to date.

Economic evaluation and resource expansion

Additional resources are expected from zone two where mapping and drilling have proven the presence of lithium-bearing pegmatites.

Three preliminary drill holes were completed, of which two showed pegmatite intersections of up to 4 metres with grades in the vicinity of 2% lithium.

Deeper drilling completed in 2017 showed that there are significant high-grade veins close to surface in a previously unexplored area.

This is indeed the wildcard for European Lithium and an important aspect of the group’s prospects which arguably isn’t accounted for in its share price.

Consequently, it could be a company changing period as the PFS provides an economic evaluation of the proven zone one, and zone two paves the way for resource expansion.

Cap that off with a second half definitive feasibility study (DFS) that should be based on a resource nearly twice the size of the PFS, and 2018 is shaping up as a year of solid news flow

Established resource provides investment attraction

The fact that European Lithium has an established resource at Wolfsberg increased investor confidence in the stock, assisting it in a placement which was conducted in 2017.

READ: European Lithium raises $5 million in heavily oversubscribed placement

The current resource of about 11 million tonnes, including 6.3 million tonnes in the measured and indicated category represents a robust platform to build on in 2018.

The placement price of 22.5 cents for the heavily oversubscribed $5 million capital raising represented a 40% premium to the previous 15-day volume weighted average price.

Notably, the company’s shares are trading at a premium of about 15% to the placement price.

Exploration upside in zone one

There is also scope for the development of deeper zones in zone one, and some lower cost surface drilling could be conducted to examine prospects in this area.

The intention is to have increased measured and indicated resources that can support a higher production rate than currently considered for the PFS.

The key factor to take into account here is the potential conversion of the inferred component of the resource to measured and indicated.

Sage said: “The definitive feasibility study is on track for completion in the third quarter of 2018 and by that stage, we expect to have converted the inferred resource to the measured and indicated category.

“This would bring the measured and indicated resource up to 11 million tonnes, effectively increasing the mine life from about 13 years to 22 years.”

Board appointment provides financial expertise and regional experience

With a strong period of exploration activity and multiple share price drivers, there was no better time to strengthen its management team with Stefan Muller joining the board.

His appointment in October as an independent non-executive director has been strategically important for European Lithium.

Muller brings 25 years of experience in financial markets and investment banking, and he is the chief executive officer and founder of DGWA, a German-based investment consulting firm.

DGWA, along with Somers and Partners and Wimmer Financial, acted as corporate financial advisors to the recent placement.

Consequently, he knows the company well and has a thorough understanding of the regulatory environment and potential sources of capital in European markets.

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Tue, 13 Mar 2018 07:36:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193017/european-lithium-s-resource-expansion-and-project-studies-could-provide-momentum-in-2018-193017.html
<![CDATA[News - European Lithium eyes increased resource in Austria as it restarts drilling ]]> https://www.proactiveinvestors.com.au/companies/news/191108/european-lithium-eyes-increased-resource-in-austria-as-it-restarts-drilling-191108.html European Lithium Ltd (ASX:EUR) (FRA:PF8) (VIE:ELI) is restarting its drilling program to increase the resource at its Wolfsberg Lithium project in Austria.

The current measured and indicated resource at Wolfsberg is 6.3 million tonnes at 1.17% lithium oxide.

READ: European Lithium increases lithium resources significantly

This resource is being used as the basis of reserve estimation and mine design for the pre-feasibility study (PFS) that is scheduled for completion in Q1 2018.

A contract has been awarded to the drilling company GEOPS which is prepared for drilling activities in winter conditions.

They have mobilised and will start site preparation on 5 February 2018 and aim to complete the outstanding six drill holes in Zone 2 totalling 1,250 metres by early April 2018.

More resources to support a higher production rate

Apart from the potential of Zone 2 there is additional potential deeper in the amphibolite hosted pegmatites of Zone 1.

The drilling in Zone 2 and the new amphibolite area of Zone 1 will be conducted from surface.

European Lithium’s intention is to increase the measured and indicated resources that can support a higher production rate than currently considered for the PFS.

This higher production rate would then be the basis for a definitive feasibility study (DFS).

European Lithium is well funded with circa $6.8 million in cash as at 31 December 2017 following a successful capital raise in December 2017.

READ: European Lithium raises $5 million in heavily oversubscribed placement ]]>
Mon, 05 Feb 2018 11:21:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191108/european-lithium-eyes-increased-resource-in-austria-as-it-restarts-drilling-191108.html
<![CDATA[News - European Lithium awarded number one newcomer award by Boerse Social ]]> https://www.proactiveinvestors.com.au/companies/news/190860/european-lithium-awarded-number-one-newcomer-award-by-boerse-social-190860.html European Lithium Ltd’s (ASX:EUR) (FRA:PF8) (VSE:ELI) award by Austria's leading investor network, Boerse Social, comes at a time when the company is about to embark on an important period of exploration.

Appropriately, the award is for the number one ‘Company Newcomer’ of 2017, as high density drilling at its Wolfsberg Lithium Project in Austria is about to commence.

READ: European Lithium has cash in the bank as it prepares to start targeted drilling program

Tony Sage, non-executive chairman, said: “It was rewarding for the company to be recognised as number one newcomer.

“The award demonstrates that our great efforts to introduce the company to the Viennese capital markets has paid off, and we look forward to further success in 2018.”

Company has cash backing to fund extensive drilling campaign

Following capital raisings in 2017 and the sale of a non-core asset, European Lithium estimates that it has circa $7 million before costs from capital raisings to invest in exploration.

This should commence after permitting, and management expects that the company will subsequently be in a position to increase the measured and indicated resource.

European Lithium anticipates that the upgraded resource that will be used in the definitive feasibility study will be higher than that currently being used for the pre-feasibility study.

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Wed, 31 Jan 2018 08:31:00 +1100 https://www.proactiveinvestors.com.au/companies/news/190860/european-lithium-awarded-number-one-newcomer-award-by-boerse-social-190860.html
<![CDATA[News - European Lithium has cash in the bank as it prepares to start targeted drilling program ]]> https://www.proactiveinvestors.com.au/companies/news/190796/european-lithium-has-cash-in-the-bank-as-it-prepares-to-start-targeted-drilling-program-190796.html European Lithium Ltd’s (ASX:EUR) engagement of consultants for its 2018 drilling campaign marks an important stage for the Wolfsberg Lithium Project in Austria.

Austrian mining consultants are preparing a lithological model using all drilling and trenching data from the project.

This should be completed shortly, providing the company with the information needed to review the model and develop a targeted drilling program.

Increase in measured and indicated resource

A high density drilling strategy is expected to lead to an increase in measured and indicated resources.

The new drilling program will require authorisation by the Mining Authority which is expected to be forthcoming now that technical studies have been completed.

Receipt of permitting would significantly de-risk the project, and this could be an imminent share price catalyst.

Increasing the measured and indicated resources could support a higher lithium production level for the definitive feasibility study than currently being used for the pre-feasibility study.

A cashed up business with a cleaner structure

Having entered into a binding agreement for the sale of the company’s non-core Paynes Find Gold Project, European Lithium is now a more focused business.

Proceeds from the sale consisted of $500,000 in cash and $500,000 in share capital from the purchaser, Cervantes Corporation Ltd (ASX:CVS).

This along with cash of $7.1 million (before costs) from capital raisings positions the company to undertake a comprehensive exploration program in 2018.

READ: European Lithium raises capital at premium to fund resource expansion activities ]]>
Tue, 30 Jan 2018 15:04:00 +1100 https://www.proactiveinvestors.com.au/companies/news/190796/european-lithium-has-cash-in-the-bank-as-it-prepares-to-start-targeted-drilling-program-190796.html
<![CDATA[News - European Lithium becomes a substantial shareholder in Cervantes Corporation ]]> https://www.proactiveinvestors.com.au/companies/news/189301/european-lithium-becomes-a-substantial-shareholder-in-cervantes-corporation-189301.html European Lithium Ltd (ASX:EUR) is now a substantial shareholder in Cervantes Corporation Ltd (ASX:CVS), holding 25 million shares for a 7% stake.

European Lithium gained the stake following the sale of its Paynes Find Gold Project in Western Australia to Cervantes.

In regard to the cash component of the consideration, European Lithium has received $220,000 to date, with two instalments of $25,000 to be paid on or before 15 January 2018 and 28 February 2018.

The final instalment of $230,000 is to be paid on or before 31 March 2018.

European Lithium's main focus remains the Wolfsberg Lithium Project in Austria.

READ: European Lithium attracts first research from Europe ]]>
Thu, 28 Dec 2017 08:44:00 +1100 https://www.proactiveinvestors.com.au/companies/news/189301/european-lithium-becomes-a-substantial-shareholder-in-cervantes-corporation-189301.html
<![CDATA[News - European Lithium settles sale of Western Australian gold project ]]> https://www.proactiveinvestors.com.au/companies/news/189205/european-lithium-settles-sale-of-western-australian-gold-project-189205.html European Lithium Ltd (ASX:EUR) has settled the sale of its Paynes Find Gold Project in Western Australia to Cervantes Gold Pty Ltd (ASX:CVS).

Total consideration for the sale comprises $500,000 cash and $500,000 in share consideration through the issue of shares in CVS, at $0.02 each.

European Lithium has received $220,000 with two instalments of $25,000 to be paid on or before 15 January 2018 and 28 February 2018.

Final cash instalment due by end of March

The final instalment of $230,000 is to be paid by CVS on or before 31 March 2018.

The shares will be issued on or before 29 December 2017.

Tony Sage, chairman, commented:

"We are very pleased to settle the sale of the Paynes Find Gold project with CVS.

"The company’s focus remains on finalising the PFS at the company’s flagship Wolfsberg Lithium project as well as better understanding the size and value of the deposit in Zone 2."

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Fri, 22 Dec 2017 08:56:00 +1100 https://www.proactiveinvestors.com.au/companies/news/189205/european-lithium-settles-sale-of-western-australian-gold-project-189205.html
<![CDATA[News - European Lithium attracts first research from Europe ]]> https://www.proactiveinvestors.com.au/companies/news/188699/european-lithium-attracts-first-research-from-europe-188699.html European Lithium Ltd (ASX:EUR) remains focused on the Wolfsberg Lithium Project in Austria, and is now attracting interest from research houses in Europe.

DGWA, the German Institute for Asset and Equity Allocation and Valuation, has provided analysis on the company. The following is an extract from their report.

Current situation

In recent months, European Lithium Limited (ELI) shares used to trade within a narrow price range between €0.03 and €0.04 and consolidated trading volumes remained regularly below €100,000 on all European stock exchanges.

Since mid-November, however, prices have exploded by 600% within only few weeks (peak level) and trading volumes (€) are in the upper one-digit million range.

This has caused market capitalisation (fully diluted, including all options) to soar from €25m to currently €100m (including capital measures).

In early 2017, the company retained the acclaimed British mining-engineering company SRK to evaluate the technical and economic viability of the Wolfsberg project and subsequently announced the results.

At present, a pre-feasibility study for the mining operation is being conducted on behalf of ELI.

Based on the geology underlying the rock formations, ELI geologists assume that the existing resources find their reflection on the other side of the mountain.

The company is also considering to formally relocate its head office to Austria.

Price movement analysis

Independently of all fundamental developments, a price increase by 600% is always an indicator of short-term corrections.

In terms of chart technology, a price increase by approximately 50% may or should be considered as healthy.

In the case of ELI, this would be within the €0.12 to €0.14 range.

The significant increase in trading volumes and ticket sizes is an indicator of growing interest from institutional investors.

Valuation

The valuation of an exploration company relies on the following key factors: the size of the resources, the production costs, and - notably - the price of the produced mineral.

In contrast to most other explorers, ELI can rely on the SRK study of April 2017 for independent and robust figures; these figures - in combination with current lithium prices - allow to draw up a number of valuation scenarios.

SRK assumes a net present value (NPV) of approximately €75m (US$94.8m) based on the following parameters:

- Lithium carbonate price of US$10,500
- Production volume of 100 tpa at Wolfsberg
- Discount rate of 10%

Furthermore, the study contains the following additional assumptions:

- NPV sensitivity 100% at 10% change of lithium carbonate price
- Production ramp-up potential of 11,000 tpa
- Discount rate of 8% likely to be achieved through grants etc.

This results in the following valuation scenarios:

table.tableizer-table { font-size: 12px; border: 1px solid #CCC; font-family: Arial, Helvetica, sans-serif; } .tableizer-table td { padding: 4px; margin: 3px; border: 1px solid #CCC; } .tableizer-table th { background-color: #104E8B; color: #FFF; font-weight: bold; } Li2CO3 / US$ 10500 11500 12500 13500 14500 15500 Production / tpa 7,100 94,800,000 189,600,000 284,400,000 379,200,000 474,000,000 568,800,000 8,000 106,816,901 213,633,803 320,450,704 427,267,606 534,084,507 640,901,408 9,000 120,169,014 240,338,028 360,507,042 480,676,056 600,845,070 721,014,085 10,000 133,521,127 267,042,254 400,563,380 534,084,507 667,605,634 801,126,761 11,000 146,873,239 293,746,479 440,619,718 587,492,958 734,366,197 881,239,437

 

All figures indicated in US$; as can be seen, our scenario calculations result in an NPV between approx. €75m and €720m, based on a discount rate of 10%.

If potential grants are combined with the standard discount rate of 8%, the NPV is expected to further increase by 25%, the SRK study concludes.

In the below diagram, the mine, its proposed expansion and previous exploration activities are illustrated.

Due to the geology, it is not unlikely that the resources find their reflection on the back side of the mountain.

Apart from the hitherto known potential, which is depicted in the above table, there is also an exploration potential of similar magnitude.

The company is currently considering a relocation of its head office to Austria.

The company claims that large parts of its free float are located in Europe; and trading activities in Australia and Europe suggest that this ratio will be further shifted towards Europe in the future.

Moreover, the project receives much attention and support from various political and industrial levels in Europe.

Once the company is based in Austria, negotiations concerning subsidies, offtake agreements and other cooperation opportunities will be further simplified.

The company promises that this step would be implemented 1:1, on a neutral basis for its shareholders.

Risks

We expect the results of the newly commissioned pre-feasibility study to be similar to those of the SRK study.

Any delays in context with mine ramp-up are expected to remain within limits common in the industry.

The biggest risk factor is the lithium price; but according to our scenario calculations and considering the production volume potential, we can already now rely on a convenient risk buffer.

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Wed, 13 Dec 2017 14:25:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188699/european-lithium-attracts-first-research-from-europe-188699.html
<![CDATA[News - European Lithium raises $5 million in heavily oversubscribed placement ]]> https://www.proactiveinvestors.com.au/companies/news/188477/european-lithium-raises-5-million-in-heavily-oversubscribed-placement-188477.html European Lithium Ltd (ASX:EUR) has raised $5 million to assist in funding the Wolfsberg Lithium Project in Austria.

The $4 million placement was heavily oversubscribed and the additional $1 million oversubscription facility was accepted by the company.

The placement has been taken up by sophisticated and professional investors.

READ: European Lithium raises capital at premium to fund resource expansion activities

Significantly, the placement’s price of $0.225 represents a 40% premium to the 15-day volume weighted average price (VWAP).

The company received the majority of placement funds by Thursday afternoon with the remainder due in by Friday 8 December.

Takes up shows “great confidence” in project

Tony Sage, chairman, said “Approximately 95% of the placement has been taken up by European based shareholders which shows great confidence in the Wolfsberg project.

“The funds will be used to help the company better understand the size and value of the deposit in zone two which drilling earlier this year showed to be a very prospective area.”

European Lithium will also issue one free attaching unquoted option for every four shares applied for under the placement.

There will also be 14.4 million options to facilitators of the placement which are exercisable at $0.25 on or before 31 May 2019.

The shares and options are expected to be issued on Monday 11 December 2017.

Definitive feasibility study work at Wolfsberg

The work to be funded at Wolfsberg forms part of a definitive feasibility study (DFS) drilling program.

Management expects to finalise a pre-feasibility study (PFS) by the first quarter of 2018 and have the DFS completed by the third quarter.

News flow surrounding the release of the PFS and DFS are potential share price catalysts in 2018.

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Fri, 08 Dec 2017 08:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188477/european-lithium-raises-5-million-in-heavily-oversubscribed-placement-188477.html
<![CDATA[News - European Lithium raises capital at premium to fund resource expansion activities ]]> https://www.proactiveinvestors.com.au/companies/news/188327/european-lithium-raises-capital-at-premium-to-fund-resource-expansion-activities-188327.html European Lithium Ltd (ASX:EUR) is undertaking a placement priced at $0.225 to raise up to $4.0 million to assist in funding the Wolfsberg Lithium Project in Austria.

The company also has the option to raise up to $1 million to facilitate oversubscriptions.

Significantly, the placement's price represents a 40% premium to the 15-day volume weighted average price (VWAP), suggesting the prospect of raising $5 million appears achievable.

Participants in the share placement will receive an attaching 1:4 unlisted option exercisable at $0.25 and expiring 31 May 2019.

Funding provides financial support for resource expansion activity

The capital raised will be used to accelerate the company’s definitive feasibility study (DFS) drilling program at Wolfsberg.

This is expected to provide the company with a better understanding of the size and value of the deposit in zone 2 which has demonstrated the potential to host a resource extension.

Management expects to finalise the pre-feasibility study (PFS) by the first quarter of 2018 and have the DFS completed by the third quarter.

READ: European Lithium schedules delivery of pre-feasibility study

Tony Sage, chairman said, "This is a very exciting period for the company with strong support coming from UK and European investors who have bought in excess of 120 million of the company's shares in the last two months."

Investors on the lookout for quality projects in safe jurisdictions

This trend echoes commentary from a number of ASX listed companies that attended the recent Mines and Money conference in London.

Northern hemisphere investors have a healthy appetite at the moment for quality projects in safe jurisdictions with ready access to end markets, a label that certainly applies to European Lithium.

The company’s shares traded as high as $0.33 before closing at $0.32, up 10.3% on the previous day.

Board appointment provides financial expertise and regional experience

The October appointment of Stefan Muller as an independent non-executive director has been strategically important for European Lithium.

He brings 25 years of experience in financial markets and investment banking to the group and is the chief executive officer and founder of DGWA, a German-based investment consulting firm.

DGWA along with Somers and Partners and Wimmer Financial acted as corporate financial advisors to the placement.

News flow surrounding the release of the PFS and DFS are potential share price catalysts in 2018.

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Thu, 07 Dec 2017 09:41:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188327/european-lithium-raises-capital-at-premium-to-fund-resource-expansion-activities-188327.html
<![CDATA[News - European Lithium takes advantage of positive share re-rating ]]> https://www.proactiveinvestors.com.au/companies/news/188224/european-lithium-takes-advantage-of-positive-share-re-rating-188224.html 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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Tue, 05 Dec 2017 09:39:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188224/european-lithium-takes-advantage-of-positive-share-re-rating-188224.html
<![CDATA[News - European Lithium chairman Tony Sage increases shareholding further ]]> https://www.proactiveinvestors.com.au/companies/news/188144/european-lithium-chairman-tony-sage-increases-shareholding-further-188144.html 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.

READ: European Lithium schedules delivery of pre-feasibility study ]]>
Mon, 04 Dec 2017 08:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188144/european-lithium-chairman-tony-sage-increases-shareholding-further-188144.html
<![CDATA[News - European Lithium’s share price strengthens further on positive news flow ]]> https://www.proactiveinvestors.com.au/companies/news/187944/european-lithiums-share-price-strengthens-further-on-positive-news-flow-187944.html European Lithium’s (ASX:EUR) shares were trading circa 21% higher intra-day following the appointment of consultants for the pre-feasibility study (PFS) for its Wolfsberg Lithium Project located in Austria.

READ: European Lithium schedules delivery of pre-feasibility study

A work schedule has been developed for completion of the Wolfsberg Lithium Project PFS in the March quarter 2018.

During October, European Lithium completed a placement raising $2.3 million, mainly from European based sophisticated investors, at an issue price of $0.05 per share.

Interestingly, the shares were last trading at almost three times the issue price, at $0.145

The new funds will be used towards finalising the pre-feasibility study at Wolfsberg.

European Lithium’s 100% owned Wolfsberg Lithium Project has a JORC resource of 10.98 million tonnes grading 1% lithium oxide.

The company’s chairman Tony Sage and newly appointed German director Stefan Muller is currently at various investor relation events including London Mines and Money, Vienna Stock Exchange reception and investor roadshows in Vienna and Berlin.

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Wed, 29 Nov 2017 15:48:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187944/european-lithiums-share-price-strengthens-further-on-positive-news-flow-187944.html
<![CDATA[News - European Lithium schedules delivery of pre-feasibility study ]]> https://www.proactiveinvestors.com.au/companies/news/187537/european-lithium-schedules-delivery-of-pre-feasibility-study-187537.html European Lithium (ASX:EUR) has appointed all necessary consultants for the planned pre-feasibility study (PFS) for its Wolfsberg Lithium Project located in Austria.

DRA Global is the lead consultant for the PFS and its project team began introductory work on 31 October 2017.

A work schedule has been developed for completion of the PFS in the March quarter 2018.

During October, the company completed a placement raising $2.3 million, mainly from European based sophisticated investors, at an issue price of $0.05 per share.

The funds raised will be used towards finalising the pre-feasibility study at Wolfsberg.

Wolfsberg Lithium Project

The 100% owned Wolfsberg Lithium Project has a JORC resource of 10.98 million tonnes grading 1.0% lithium oxide.

The deposit is split into Zone 1 and Zone 2.

The current resource, which is located in Zone 1 has the potential to be further increased by drilling at depth and along strike.

Furthermore, results from initial drilling in Zone 2 showed wide high-grade intersections, which confirm the potential of this area to mirror the resources of Zone 1.

PFS consultants

DRA Global has been appointed to lead the PFS and integrate the work of all consultants as well as undertake the engineering and cost estimates for the processing and infrastructure.

SRK from the UK will develop the preliminary mine design to PFS level and Dorfner Anzaplan from Germany have been retained to conduct further metallurgical test work.

Other consultants include Benchmark Minerals Intelligence and Orykton Consulting.

READ NOW: European Lithium to fast-track lithium pre-feasibility study ]]>
Tue, 21 Nov 2017 09:39:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187537/european-lithium-schedules-delivery-of-pre-feasibility-study-187537.html
<![CDATA[News - European Lithium updates on sale of Paynes Find Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/187339/european-lithium-updates-on-sale-of-paynes-find-gold-project-187339.html European Lithium Ltd (ASX:EUR,FRA:PF8,VSE:ELI) has agreed to amend the terms of the sale agreement with Cervantes Gold Pty Ltd (ASX:CVS) for the sale of its Paynes Find Gold Project.

Changes are:

- The end date for completion of the transaction has been amended to the 15th January 2018; and
- This extension was provided in consideration for the payment of $25,000 from CVS to the company by the 28th November 2017.

The total consideration payable in relation to the deal remains unchanged and comprises $500,000 cash (of which $195,000 has been received to date and $25,000 is due by 28 November 2017 as outlined above) and $500,000 in shares at a deemed issue price of $0.02 (for 25 million shares) on completion of the transaction.

The company remains focused on the Wolfsberg Lithium Project in Austria.

READ NOW: European Lithium to fast-track lithium pre-feasibility study ]]>
Thu, 16 Nov 2017 13:43:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187339/european-lithium-updates-on-sale-of-paynes-find-gold-project-187339.html
<![CDATA[News - European Lithium continues international transition ]]> https://www.proactiveinvestors.com.au/companies/news/185922/european-lithium-continues-international-transition-185922.html European Lithium (ASX:EUR) has appointed Stefan Müller as an independent non-executive director to its board of directors today.

Müller is CEO and founder of a boutique European investment and financial markets consulting firm based in Frankfurt, Germany.

The move comes after European Lithium recently made history as the first Australian company to be admitted to the Vienna Stock Exchange (VSE).

Tony Sage, chairman, commented: “Our share register has matured as a result of greater interest from our European base, Stefan provides us with valuable European market experience specifically in German speaking countries.

“Stefan was instrumental in successfully listing the company on the Vienna Stock Exchange and will continue to champion important local relationships.”

Müller replaces Paul Lloyd who has today resigned as non-executive director.

READ NOW: European Lithium to fast-track lithium pre-feasibility study ]]>
Fri, 20 Oct 2017 14:23:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185922/european-lithium-continues-international-transition-185922.html
<![CDATA[News - European Lithium updates on the Paynes Find Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/185833/european-lithium-updates-on-the-paynes-find-gold-project-185833.html European Lithium Ltd (ASX:EUR,FRA:PF8,VSE:ELI) has agreed to amend the terms of the sale agreement with Cervantes Gold Pty Ltd (ASX:CVS) for the sale of its Paynes Find Gold Project.

The details are now as follows:

- The end date for completion of the transaction has been amended to 28 November 2017; and

- This extension was provided in consideration for the payment of $25,000 from CVS to the company by 20th October 2017.

The total consideration payable remains unchanged and comprises $500,000 cash, of which $170,000 has been received to date, and $500,000 in share consideration (25 million shares at a deemed issue price of $0.02).

European Lithium remains focused on the Wolfsberg Lithium Project located in Austria.

READ NOW: European Lithium to fast-track lithium pre-feasibility study ]]>
Thu, 19 Oct 2017 10:39:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185833/european-lithium-updates-on-the-paynes-find-gold-project-185833.html
<![CDATA[News - European Lithium to fast-track lithium pre-feasibility study ]]> https://www.proactiveinvestors.com.au/companies/news/185768/european-lithium-to-fast-track-lithium-pre-feasibility-study-185768.html European Lithium (ASX:EUR) has appointed DRA Global to complete the pre-feasibility study (PFS) for its Wolfsberg Lithium Project located in Austria.

DRA will incorporate studies completed to date into the PFS and will undertake the engineering and capital and operating cost estimates for the processing and infrastructure at the project.

European Lithium recently made history by becoming the first Australian company to be admitted to the Vienna Stock Exchange (VSE).

READ: European Lithium makes history with dual-listing

The company recently completed a placement raising over $2.1 million, mainly from European based sophisticated investors, at an issue price of $0.05 per share.

The funds raised will be used towards finalising the pre-feasibility study at Wolfsberg.

DRA Global has vital lithium project experience

DRA has extensive experience in lithium projects having been responsible for the PFS and DFS of Nemaska Lithium’s (CVE:NMX) project in Quebec, Canada

The consultancy firm has also delivered the beneficiation plant for the Mt Cattlin lithium project in Western Australia for Galaxy Resources (ASX:GXY).

DRA has also undertaken the preliminary engineering and design of the processing facilities for Altura Mining’s (ASX:AJM) Pilgangoora lithium project also in Western Australia.

What the PFS will incorporate

Technical studies already completed to date have included JORC resource verification as well as a resource increase and the identification of exploration targets.

Metallurgical studies by Dorfner Anzaplan demonstrated that the Wolfsberg ore can produce a 6.2% lithium oxide spodumene concentrate that can be readily converted to battery grade lithium carbonate and hydroxide.

READ: European Lithium produces battery-grade lithium carbonate

The preliminary mine design completed by SRK used long hole open stoping with ore sorting to reject waste dilution and confirmed the project to be technically and economically viable.

This scoping level study indicated a pre-tax net present value (NPV) of US$95 million.

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Wed, 18 Oct 2017 15:51:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185768/european-lithium-to-fast-track-lithium-pre-feasibility-study-185768.html
<![CDATA[News - European Lithium wraps up first tranche of placement for Wolfsberg Lithium ]]> https://www.proactiveinvestors.com.au/companies/news/185610/european-lithium-wraps-up-first-tranche-of-placement-for-wolfsberg-lithium-185610.html European Lithium Ltd (ASX:EUR, FRA:PF8, VSE:ELI) has completed the first tranche of its placement and has issued 28.75 million shares at $0.05 to raise circa $1.4 million before expenses.

The company undertook the placement to sophisticated and professional investors as the most expedient mechanism for raising funds in a timely manner.

The funds raised will be used towards finalising the pre-feasibility study at the company’s Wolfsberg Lithium Project located in Austria, which hosts resource of 10.98 million tonnes at 1% lithium oxide.

Recently, European Lithium became the first Australian company to be admitted to the Vienna Stock Exchange (VSE) in Austria.

READ NOW: European Lithium makes history with dual-listing

The listing increases exposure to European investors.

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Mon, 16 Oct 2017 13:42:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185610/european-lithium-wraps-up-first-tranche-of-placement-for-wolfsberg-lithium-185610.html