Sign up Australia
Proactive Investors - Run By Investors For Investors

European Lithium updates on sale of Paynes Find Gold Project

European Lithium will receive a consideration payment for the amended terms.
European Lithium updates on sale of Paynes Find Gold Project
European Lithium is focused on the Wolfsberg Project

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

View full EUR profile View Profile

European Lithium Ltd Timeline

Related Articles

Zinc in periodic table
April 18 2018
The report was prepared by CSA Global under contract to SLR Consulting Ireland ...
copper
July 19 2018
A new joint venture is also being set up on a 70/30 MOD/Metal Tiger basis to continue exploration
1539311825_azm-ghana-map-jpg-757.jpg
Fri
The company is working with Ibaera Capital to develop its project and bring it into production.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use