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European Lithium updates on the Paynes Find Gold Project

The company remains focused on the Wolfsberg Lithium Project.

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The terms for the asset sale have been amended

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

Quick facts: European Lithium Ltd

Price: 0.07 AUD

ASX:EUR
Market: ASX
Market Cap: $50.86 m
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