logo-loader

European Lithium sets out plans for £5mln AIM float

Published: 17:24 26 May 2015 AEST

lithium_battery_350_556420567683b
Lithium is an important component of the batteries used by these green motors

European Lithium has set out plans to raise £5mln via a listing on AIM.

The cash will be used to develop the Wolfsberg project in Austria. The plan is to update the resource and commence a pre-feasibility study.

The float coincides with a major uptick in demand for the metal, driven by the electric car market.

Lithium is an important component of the batteries used by these green motors.

Tesla, the US manufacturer headed by serial tech entrepreneur Elon Musk, plans a US$5bn battery factory in the US, though currently it is expected this will be supplied locally.

VSA Capital will act as broker to European Lithium, with ZAI Corporate Finance taking the role of nominated adviser.

The IPO will be opened to private investors via the PrimaryBid platform.

European Lithium boosts lithium interests in Europe’s heart

European Lithium Ltd (ASX:EUR, OTCQB:EULIF) chairman Tony Sage speaks to Proactive’s Elisha Newell after the company bolstered its critical minerals exposure in the heart of Europe with three new lithium projects. Spodumene pegmatite samples from the Bretstein-Lachtal, Klementkogel and...

on 22/6/23