logo-loader

European Lithium updates on the Paynes Find Gold Project

Published: 10:39 19 Oct 2017 AEDT

1508370138_handshake-975134
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

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