Proactive Investors - Run By Investors For Investors

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

Non-executive director Stefan Mϋller has acquired 200,000 shares in an on-market transaction.
Directors inside Wolfsberg mine
Non-executive chairman Tony Sage, non-executive director Stefan Mϋller and CEO Dietrich Wanke in the Wolfsberg mine

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.

View full EUR profile View Profile

European Lithium Ltd Timeline

Related Articles

Mining picture
The flagship project is the Lac Guéret Extensions graphite property in Manicouagan County, Quebec
EV being charged in European city
March 04 2019
Drilling, metallurgical test work and pilot processing for the Wolfsberg DFS are on the company’s agenda in 2019.
July 16 2019
Alkane Resources has gold at Tomingley and rare earths and zircon at Dubbo

© Proactive Investors 2019

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