Total
0
Shares
European Lithium (ASX:EUR) - Non Executive Chairman, Tony Sage - The Market Herald
Non Executive Chairman, Tony Sage
Source: Small Caps
  • European Lithium (EUR) has completed a placement and raised $2.1 million through the issue of 46.4 million shares at 4.5 cents each
  • This placement also consists of a one-for-four free attaching unlisted option, exercisable at 0.5 cents on or before July 31, 2022
  • EUR will use the money to progress the definitive feasibility study at the Wolfsberg Lithium Project in Austria and undertake metallurgical testwork to confirm end products
  • The money will also go towards progressing permits and approvals needed to begin construction and advance discussions with offtake and financing partners
  • EUR has ended the day with no change; shares have been trading for six cents since September 18

European Lithium (EUR) has completed a placement and raised $2.1 million through the issue of 46.4 million shares at 4.5 cents each.

This placement also consists of a one-for-four free attaching unlisted option, exercisable at 0.5 cents on or before July 31, 2022, however, this is subject to shareholder approval.

EUR will use the money to progress the definitive feasibility study at the Wolfsberg Lithium Project in Austria and undertake metallurgical testwork to confirm end products.

The money will also go towards progressing permits and approvals needed to begin construction, and advance discussions with offtake and financing partners.

"The European Union has commenced an ambitious plan to build and reshape its battery supply chain. The European Commission's recently announced Action Plan on Critical Raw Materials, is looking at the current and future challenges and actions to reduce Europe's dependency on third world countries," Executive Director Kimon Gkomozias said.

"EUR is well-timed and well-positioned to benefit from Europe's unprecedented need for lithium, contributing to the European integration of the lithium supply chain and capitalising on the resulting growth of the regional lithium ecosystem," he added.

EUR has ended the day with no change; shares have been trading for six cents since September 18.


Subscribe


EUR by the numbers
More From The Market Herald
Parkway Minerals (ASX:PWN) - Managing Director, Bahay Ozcakmak (right) - The Market Herald

" Parkway Minerals (ASX:PWN) raises $1.6M

Parkway Minerals (PWN) has successfully undertaken a placement to sophisticated and professional investors and raised $1,604,280.
White Cliff Minerals (ASX:WCN) doubles cash burn in September quarter

" White Cliff Minerals (ASX:WCN) doubles cash burn in September quarter

White Cliff Minerals (WCN) has more than doubled its cash burn over the first quarter of FY21.
Salt Lake Potash (ASX:SO4) - CEO, Tony Swiericzuk - The Market Herald

" Salt Lake Potash (ASX:SO4) on track for first Lake Way production in early 2021

Sulphate of potash company Salt Lake Potash (SO4) is trading steady today after releasing its latest quarterly financial report.
Azure Minerals (ASX:AZS) - Managing Director, Paul Rovira - The Market Herald

" Azure Minerals (ASX:AZS) soars on second drillhole results at Andover

Shares in explorer Azure Minerals (AZS) soared today on news it had uncovered more mineralisation at the Andover Nickel-Copper Project.