European Lithium

The CRML average price over the 20-day period was at or below US$8, so the maximum ratio applies: 0.045 CRML shares per EUR share. Holders of about 777 or fewer shares get cash via the sale facility. Final option consideration is due 28 October.

business combination

The court ordered meetings of shareholders and optionholders on the CRML schemes. The independent expert (now Horizon Nexus) found the share scheme not fair but reasonable, so in shareholders' best interests, and the option scheme fair and reasonable. The independent board committee recommends voting for.

business combination

The deal's fixed 0.035 ratio is replaced by a floating ratio from 0.025 to 0.045 CRML shares per EUR share, set by CRML's 20-day average price between US$16 and US$8. At the current sub-US$8 price, 0.045 applies, 28.6% more shares. EUR holders would own about 38%.

material agreement

EUR signed a binding deal for CRML to acquire all of EUR by scheme at 0.035 CRML shares per EUR share (implied A$0.58, 137% premium). EUR holders would own about 41% of the combined group, down from the ~45% proposed. Listed options convert on a cashless basis.

business combination

EUR and CRML finished mutual due diligence and extended exclusivity to finalise a binding scheme implementation deed. Terms are unchanged at 0.035 CRML shares per EUR share, with listed options converted on a cashless basis.

business combination

EUR signed a non-binding proposal for CRML to acquire all EUR shares by scheme at 0.035 CRML shares each, valued at A$0.58 (137% premium to last close). EUR holders would own about 45% of the combined company; exclusivity runs to 7 May for binding documents.

business combination

Greenland's government approved transfer of the remaining 50.5% of Tanbreez to CRML, taking it to 92.5%; EUR keeps 7.5%. This resolves the pending approval step and the open thread on CRML's stake.

regulatory community update

EUR sold another 2.5 million CRML shares for about A$45 million, lifting cash to about A$356 million. It holds 45,536,338 CRML shares and does not expect to sell more over the next four months.

asset acquisition disposition

EUR signed a binding deal to buy US-based Velta Holding, a titanium business with mining and manufacturing assets in Ukraine, for about 173 million EUR shares. It is subject to final due diligence and conditions, and is a move beyond lithium.

business combination

EUR sold 5 million CRML shares for about A$124 million net, lifting cash to A$322 million. It still holds 48,036,338 CRML shares. Management says proceeds could fund projects, new opportunities or a return of capital to shareholders.

asset acquisition disposition

CRML signed a non-binding term sheet for a 50/50 joint venture with Saudi group TQB, taking the final 25% of Tanbreez concentrate. Combined with earlier deals, the announcement describes offtake as 100% secured; the processing facility is up to US$1.5 billion.

joint venture update

First 2025 Tanbreez assays from the Fjord and Upper Fjord areas show 0.40% to 0.47% rare earths with about 26-27% heavy rare earths. Mineralisation extends at least 1 km northeast from hole K-24 and stays open, supporting the planned resource upgrade.

drilling result

CRML signed a term sheet for a 50/50 joint venture with Romania's state-owned FPCU, taking total Tanbreez concentrate offtake to 75% of future production. This is a non-binding-stage term sheet (inference), so definitive terms are still to come.

joint venture update

EUR sold 3.03M more CRML shares at US$16.50 for US$50M (A$76M) net, as CRML closed a US$50M placement at the same price. EUR holds 53,036,338 CRML shares and says it has over A$190M in cash.

asset acquisition disposition

EUR sold a further 3.85M CRML shares off-market at US$13 (12% below the prior close) for US$50M (A$76M) net. About 56M CRML shares remain, valued by management at about US$854M (A$0.89 per EUR share) at US$14.98.

asset acquisition disposition

CRML signed a non-binding letter of intent to supply REalloys with up to 6,750,000 tonnes of Tanbreez concentrate, about 15% of projected production. With the Ucore LOI, US customers are now covered for 25% of output. Definitive agreements are still pending.

material agreement

EUR sold another 3 million CRML shares off-market to one US institution at US$7.00, for US$21M (A$31.75M) net. About 60M CRML shares remain, valued by management at about US$689M at US$11.50, or A$0.73 per EUR share.

asset acquisition disposition

CRML amended its deal to lift Tanbreez ownership from 42% to 92.5% for a fixed 14.5M CRML shares to Rimbal (implied US$8.00), replacing a US$116M value formula. The US$10M spend condition is waived. Needs Greenland approval; completion expected Oct-Nov 2025. EUR keeps 7.5%.

asset acquisition disposition

ASX suspended EUR from 1 October for not lodging its annual report by the due date. This is EUR's third late-report suspension in about a year, after Oct 2024 and Mar 2025.

listing compliance notice

CRML signed a non-binding letter of intent to supply up to 10,000 tonnes a year of Tanbreez rare earth concentrate to Ucore, about 10% of initial projected production. It is CRML's first named buyer, but definitive agreements remain subject to due diligence and commercial terms.

material agreement

Tanbreez Mining Greenland appointed NIRAS to complete the definitive feasibility study for a 500,000 tonne-per-year operation, due Q4 2025 and to support the updated exploitation licence submission. EUR now holds about 60% of CRML (62.9M shares).

contract award

The 2,000m resource drilling program started at Tanbreez Fjord; first hole K25-01 is about 60m deep in eudialyte-bearing rock. It aims to expand the resource and feed a feasibility study due Q4 2025, with no assay results yet.

drilling spud

EUR sold 2 million CRML shares off-market to a US institution at US$2.50, for US$5.0M (A$7.8M) net. It is EUR's first cash sale from its CRML holding and says it will only sell to long-term investors, not on market.

asset acquisition disposition

CRML signed a US$2.0M contract with 60 Degree North Greenland for 2,000m of diamond drilling at Tanbreez, starting early July. It aims to upgrade and extend the Fjord resource (currently 22.56Mt: 8.76Mt indicated, 13.8Mt inferred). Follows the EXIM letter.

contract award

CRML received a non-binding, conditional letter of interest from US EXIM Bank for a US$120M, 15-year funding package for Tanbreez. It is not guaranteed, may be a loan with covenants, and has no timeline. EUR's CRML stake was valued at US$199.7M at US$3.03.

debt financing

EUR added an addendum to the Tanbreez resource: 180Mt of feldspar and arfvedsonite (102Mt indicated, 78Mt inferred), industrial minerals in the same rock, on top of the 44.9Mt rare earth resource at 0.38% TREO. No grade is given for these industrial minerals.

resource reserve update

A Tanbreez scoping study estimates before-tax NPV of about US$2.4-3.0B (8-10% discount), 162% IRR, about 3-year payback and 19-year life, using Indicated resource only. After-tax NPV is US$1.8-2.2B. It is preliminary, with no reserves and funding still required. Follows the 8 April PEA.

resource reserve update

EUR announced a Preliminary Economic Assessment for Tanbreez, a rare earth mine producing a concentrate for export, citing a 45Mt at 0.40% resource. The excerpt gives no economic figures. EUR said CRML's 31 March Nasdaq statements do not meet ASX rules and should not be relied on.

other

ASX suspended EUR shares from 17 March 2025 for not lodging its periodic report (the half-year report) by the due date. This is the second suspension for late reporting, after the October 2024 one over the annual report.

listing compliance notice

EUR reported Tanbreez's maiden resource: 44.9Mt at 0.38% rare earth oxide (indicated and inferred), from a 2016 estimate for former owner Rimbal. It is not updated. EUR holds 7.5% directly, and with CRML 49.5% combined.

resource reserve update

CRML raised about US$22.5M at US$5.00 a share, with warrants at US$7.00, to fund Tanbreez and Wolfsberg. The price is below the US$8.50 of mid-January. EUR's 74.30% stake was valued at US$382M at US$5.75.

capital raising announcement

CRML signed a convertible note of up to US$500M to buy bitcoin, with US$100M in the first tranche. Notes convert at US$6.00 and warrants at US$7.00. EUR's 74.30% CRML stake was valued at US$564.5M at US$8.50.

material agreement

First assays from the Tanbreez confirmation drilling (EUR directly holds 7.5%): a 40m intersection from surface averaging 4,722.51 ppm total rare earth oxide, 26.96% heavy. Only the first of sixteen holes; CRML had already released it on Nasdaq in Nov and Dec 2024.

drilling result

EUR raised A$2M from one institutional investor at A$0.0425 a share, a 17% discount to the 5-day average price. Funds go to Leinster sampling and drilling and working capital. Lead manager Evolution gets 6% plus 10M options (A$0.08, exp 14 Nov 2025).

capital raising announcement

Carinthian authorities ruled no Environmental Impact Assessment is needed for CRML's Wolfsberg lithium project, which the chairman says opens a fast-track approval path. EUR holds 74.30% of CRML, valued at US$452M at US$6.81. Moves the open Wolfsberg approval thread forward.

regulatory community update

EUR completed buying 100% of Ireland's Leinster Lithium Project by transferring 1,371,742 CRML shares to Technology Metals, locked up to 28 Feb 2025. This closes the April 2024 deal, which was agreed at 1,234,568 shares. George Karageorge was appointed Executive General Manager Exploration.

asset acquisition disposition

ASX suspended EUR's shares from 1 October 2024 for not lodging its annual report on time. This follows the company's own delay notice of 30 September. Trading resumes once the report is filed.

listing compliance notice

Obeikan signed the shareholder agreement for the 50:50 Saudi lithium hydroxide plant joint venture, to be called Arabian New Energy. It becomes binding once CRML signs, and the company still has to be incorporated. This progresses the open Obeikan thread from the June 2023 term sheet.

joint venture update

CRML signed a binding agreement to buy 92.5% of the Tanbreez rare earths deposit in Greenland for US$211M in CRML shares at US$10.71 plus US$5M cash. EUR keeps its 7.5% direct interest. A mining licence was granted in 2020.

asset acquisition disposition

BMW paid US$15M to CRML's Austrian subsidiary under the Wolfsberg offtake, to be offset against lithium hydroxide delivered. This satisfies the previously conditional prepayment from the December 2022 offtake. EUR's CRML stake was US$723M at 5 June.

material agreement

EUR signed a binding agreement to buy 100% of LRH Resources, holder of the Leinster Lithium Project in Ireland (23 licences, about 761 km²), from Technology Metals plc. It will pay US$10M in 1,234,568 CRML shares at US$8.10, subject to due diligence.

asset acquisition disposition

The Sizzle merger completed and Critical Metals (CRML) began Nasdaq trading on 28 February 2024. EUR received 67,788,383 CRML shares (83.03%), valued at US$839M (A$1.3B) at the US$12.38 close. Sizzle raised US$10M from PIPE investors. Resolves the long-running merger thread.

business combination

Planned capacity of the Saudi hydroxide plant with Obeikan doubled from 10,000 to 20,000 tonnes a year, with capital cost to be fully funded by the JV. Company and shareholder agreement are due in Q1 2024; Zone 2 drilling is expected in Q2 2024. Floor and ceiling prices are now described as subject to final agreement.

joint venture update

Ukraine acquisition terms changed so EUR takes ownership of European Lithium Ukraine immediately, with share consideration payable only on licence grants (and for Dobra, exploration starting). Up to 184,210,526 shares for Dobra need shareholder approval; the A$5M third Millstone tranche now depends on Dobra licence grant.

asset acquisition disposition

The SEC declared the Critical Metals F-4 effective, clearing the way for a Sizzle stockholder vote around 23 January 2024. EUR would then receive US$750M of CRML shares. EUR will keep Austrian exploration licences, Cyclone, Cufe and Tanbreez stakes, and plans to advance Ukrainian assets.

joint venture update

Sizzle and Critical Metals secure a new equity facility expected to give CRML US$10M at closing, for Wolfsberg development. EUR expects more capital and an updated F-4; the merger still awaits SEC effectiveness and a Sizzle vote.

capital raising announcement

Granted 6 new Wolfsberg mining licences plus extensions to 3 existing ones, bringing the project to 20 licences and nearly doubling the underground mining footprint. Extends mining rights beyond the current resource.

regulatory community update

Agrees to sell WA tenement E47/4144 to Moosh Moosh Limited for A$1M in cash or ASX-listed shares, keeping a 1% net smelter royalty. Completion due by 29 September 2023, subject to due diligence. Replaces the earlier plan to buy it from Wombat; fits the Europe focus.

asset acquisition disposition

Completes the purchase of three Styria, Austria lithium projects (245 licences, 114.6 km2) after due diligence. Sampling returned up to 3.98% Li2O. Consideration: A$250k cash, 2M shares and 2M options; initial work to focus on Bretstein-Lachtal.

asset acquisition disposition

Signs a binding term sheet with Obeikan for a 50:50 Saudi lithium hydroxide plant JV, firming up the January MoU. EUR would sell Wolfsberg spodumene to it at US$3,000-7,000/t; DRA to update the DFS. Also converts A$2.25M Cyclone loans to shares at A$0.002.

joint venture update

Agrees to buy three Styria, Austria lithium projects (114.6 km2, 245 licences) from a Richmond Minerals subsidiary for A$250k cash, 2M shares at A$0.07 and 2M options at A$0.12. Subject to due diligence within 3 months; settlement expected 7 July 2023.

asset acquisition disposition

Definitive feasibility study for Wolfsberg: post-tax NPV (6%) US$1.504B, IRR 33.3%, capex US$866M, about 8,800tpa lithium hydroxide for 14.6 years. Maiden ore reserve 11.5Mt at 0.64% Li2O. Reinstates the figure retracted in January; construction targeted Q4 2023.

resource reserve update

Sizzle redemptions of 11.08M shares (about US$114.3M) leave about US$45.6M in trust, lifting EUR's expected stake in Critical Metals to about 87.3%. Closing now expected Q2 2023. Ukraine acquisition terms varied: now needs martial law ended and Dobra drilling started; end date extended to 2 November 2025.

business combination

All resolutions were carried at the 20 January 2023 AGM, including approval of the Sizzle/Critical Metals transaction with about 99.6% of votes cast in favour. This cleared EUR's own shareholder approval, but Sizzle shareholder approval and SEC effectiveness of the F-4 were still needed.

agm notice

Retracts the same-day US$1.5B NPV announcement. DFS completion is still expected by end of Q1 2023. The earlier figure is withdrawn; no reason is given in the text.

admin correction

Signs a binding offtake with BMW for lithium hydroxide, converting the August non-binding MoU. Includes a US$15M prepayment repaid via set-offs, about 50,000t over 6 years from 2026. Conditional on commercial production starting and product qualification.

material agreement

Agrees to sell Wolfsberg-holding subsidiaries into a merger with NASDAQ-listed SPAC Sizzle, forming Critical Metals Corp. EUR gets US$750M of shares (~80%), plus up to 10% more on price milestones. Expected ~US$159M raised, assuming no redemptions. DFS now targeted Q1 2023.

business combination

EVR, owning 80% of the Eastern Alps satellite projects (EUR 20%), reports rock chip assays up to 3.24% Li2O from 39 samples. Millstätter Seerücken is flagged a high-priority drilling target, and 33 new licences (14.90 km2) were secured. Follows the June 2022 geological assessment.

drilling result

Signs a non-binding MoU with BMW AG giving BMW the first right to buy 100% of EUR's lithium hydroxide. If a binding contract follows, BMW would pay a US$15M prepayment. This is EUR's first offtake, but terms are not agreed.

material agreement

The court application allowing Dundas's shares in Allegiance to be transferred to a third party succeeded, so EUR says no Avebury Nickel transaction in shareholders' interest can be achieved. This ends the A$125M proposal from 20 May.

other

EUR says it has made proposals to the liquidators of Dundas Mining to change the fate of the Avebury Nickel Project in Tasmania. A court hearing in early June could block a sale and stop EUR's proposals. No price is given in this version.

other

DRA's interim NPV6 for Wolfsberg is A$862M in an accelerated case: ~10,500tpa lithium hydroxide, 770,000tpa mining, US$26,800/t hydroxide price, with capex up 20% to US$508M. The DFS slips from end Q1 to Q3 2022, citing COVID and the Ukraine conflict.

resource reserve update

Raises A$30M via placement at A$0.13 a share, with one option (A$0.18, expiring March 2025) per two shares; options need shareholder approval. Funds go to land purchase, a Zone 2 extension drill program, by-product testwork and SRK work. Ukraine work is suspended.

capital raising announcement

EUR signs a non-binding agreement with commodities merchant Traxys to negotiate an offtake deal for Wolfsberg lithium hydroxide, with exclusivity to end of Q1 2022. Traxys will help arrange project finance and consider investing directly. First offtake step; nothing binding yet.

material agreement

Total Wolfsberg resource rises 11% to 12.9Mt at 1.00% Li2O, adding an Inferred 3.1Mt at 0.90% to the 9.7Mt Measured and Indicated. This beats the ~11Mt target and chairman says mine life should extend beyond the PFS.

resource reserve update

Wolfsberg Measured and Indicated resource rises about 54%, from 6.3Mt at 1.17% to 9.7Mt at 1.03% Li2O, after the 20-hole infill program. Inferred estimate still to come. EUR also agrees to buy back a legacy €1.50 per tonne royalty.

resource reserve update

Agrees to buy Ukraine's Petro Consulting, which is applying for permits on two lithium projects (Shevchenkivske, Dobra), for A$20M in shares plus A$50M performance shares. Millstone to invest A$20M in EUR, A$2.5M immediately. Conditional on permits and shareholder approval; Wolfsberg DFS stays first priority.

asset acquisition disposition

Drilling samples are assayed, with resource results due in October, slipping from the September target. DRA expects the DFS by end Q1 2022 and Dorfner's final report by end 2021. US OTC listing (EULIF) planned for October; banks being approached for project finance.

joint venture update

Michael Carter, a stockbroker with CPS Capital, joins as non-executive director from 31 August. Executive Director Kimon Gkomozias, appointed through the Talaxis engagement, steps down the same day to take a role at Welsbach Holdings.

director officer appointment

Phase 2 drilling reaches 20 holes (7,925m), with completion due 17 August; the 1.91m and 2.4% Li2O results are repeated. Resource update, aiming for 11Mt at 1% Li2O, is now expected in September. Zone 2 work is deferred until after mining begins.

drilling progress report

Raises A$6.5M from sophisticated investors at 6.25c per share, with one free 7.5c option (expiring April 2024) per two shares, to fund the DFS. Lead manager Evolution gets 6% fee, 20M options and 2M shares. Chair expects drilling and metallurgy results in September.

capital raising announcement

Seven holes (2,929m, over 30% of the program) are done. Early assays on two of six sample batches show pegmatite up to 1.91m true thickness at up to 2.4% Li2O. A second rig is on site; program remains on budget.

drilling result

Settled legal disputes with Glock Gut-und Forstverwaltung, landowner of the mining and exploration licences. The company now expects the feasibility study in 2021 or early 2022, with mine set-up between late 2022 and early 2023.

material agreement

European Lithium agrees to buy a 20% stake in Jadar Resources' Austrian lithium projects (Weinebene, Eastern Alps), 20km from Wolfsberg, for A$125,000 cash plus 6.67M shares with an option. A collaboration agreement is also signed. Completion is subject to conditions.

asset acquisition disposition

Drilling rigs mobilised and Phase 2 drilling began at Wolfsberg on 23 February 2021, as scheduled on 2 February. This ends the contractor delay seen since 2020. No results yet.

drilling spud

Phase 2 drilling of up to 21 deep holes (320-510m, max 8,340m) at Wolfsberg is due to start mid-February 2021, aiming to upgrade 4.68Mt of inferred resource and extend Zone 1. Upgraded resource targeted by end Q3 2021, COVID permitting.

drilling scheduled

Secured commitments for a A$7M placement at 5c with one 7.5c option for every two shares, for Wolfsberg, the WA gold tenement and working capital. Evolution Capital and Empire lead it for a 6% fee. Options need shareholder approval.

capital raising announcement

Signed a 12-month mandate with Empire Capital to advise on a merger or acquisition and raise A$10M-A$20M, with 1M shares issued up front. No target or financing proposal exists yet. The Share Purchase Plan (SPP) opens 8 October at 4.75c.

material agreement

Won a ballot for a new ~130km² exploration licence E47/4144 in north-west WA, targeting conglomerate gold and iron ore. Subject to ministerial approval; 50% will be held for a third party. Also plans a Share Purchase Plan of up to A$2M at 4.75c.

asset acquisition disposition

Completed a placement of about A$2.1M (46.4M shares) at 4.5c, with a 1-for-4 free 5c option expiring July 2022 (needs shareholder approval). Funds go to metallurgical testing and the feasibility study, and to redeem 500 Winance notes for A$636,364.

capital raising announcement

Talaxis's Kimon Gkomozias joins as Executive Director to drive financing and partner search, while Tim Turner resigns. The company plans a placement of up to A$2M at 4.5c with a 1-for-4 option at 5c expiring July 2022; Empire gets a 6% fee.

capital raising announcement

Received A$1.0M of the delayed A$2M second Winance draw, and 1,000 notes were released from escrow. This resolves the funding delay since March. The other A$1.0M is not mentioned as received in the announcement.

debt financing

Agreed to convert up to A$742,918 of debts, including director and CEO fees and a short-term loan, into up to 16.5M shares at 4.5c with a free 5c option expiring July 2022. Director portions need shareholder approval. This eases cash pressure.

capital raising announcement

Signed a one-year minimum strategic engagement with Talaxis (Noble Group) to help finish the Wolfsberg feasibility study and line up financiers, grants and offtake. Talaxis gets a 5% capital introduction fee and 36M performance rights, subject to approvals. Its MD becomes strategic advisor.

material agreement

COVID-19 travel restrictions have hampered Wolfsberg work, so the feasibility study will be delayed with no new completion date. Winance and Helvetican say they remain committed to their funding, but both have been hampered by the pandemic.

regulatory community update

Drew a further A$2M from the Winance facility via 2,000 convertible notes (floor A$0.055; up to 36.4M shares). The EUR7.5M H120 loan is still undrawn pending security documents. Tim Turner joins the board; Stefan Müller resigned.

debt financing

Agreed a EUR7.5M (about A$12M) two-year debt facility at 5% interest with a Swiss lender via Helvetican, secured over Wolfsberg, to replace the Winance notes. Austria also extended the 11 mining and 54 exploration licences to December 2021. Helvetican gets 70M options.

debt financing

Signed a binding A$10m convertible note facility with Winance, replacing the Magna facility. A$2.0m is available immediately; notes convert at 92% of the lowest 10-day VWAP, floor A$0.055. Funds repay Magna and speed the Wolfsberg DFS.

debt financing

Resource drilling resumes at Wolfsberg Zone 1 after approvals; Phase 1 (five shallow holes, 1,300m) due in about 5 weeks, then an upgraded resource statement. Aims to convert the 4.68Mt Inferred to Measured/Indicated. Long-delayed drilling finally under way.

drilling scheduled

Placement mainly to European investors at A$0.09 per share to raise up to €1.5M, for the Wolfsberg DFS. Uses existing placement capacity; shares issued as funds arrive over about three weeks. Priced well below the earlier A$0.225 placement.

capital raising announcement

Board is investigating spinning off its Austrian subsidiary, which holds the lithium assets, to existing shareholders and listing it on Vienna's Prime Market. The GmbH-to-AG conversion is almost done. ASX listing stays for now; shareholder approval would be required.

other

Secures a facility of up to A$10M from MEF I (Magna) via convertible notes: A$2.5M immediately, A$7.5M later in tranches. Notes convert at the lower of A$0.30 or a 15% discount to recent trading prices. Secured against company assets. DFS now due April 2019.

debt financing

Dietrich Wanke, Austria General Manager since 2016, becomes CEO, replacing Dr Steve Kesler who leaves. DFS now expected to start in Q3. Company says it is in talks with European corporates about partnerships; Wanke's contract is still being finalised.

director officer appointment

Four of five new Zone 2 holes reported multiple pegmatite intersections, up to 7.05m (lower grade) and grades up to 2.49% Li2O. Company says Zone 2 could mirror Zone 1; a maiden Inferred resource is planned. One hole's assays are still awaited.

drilling result

Wolfsberg PFS complete: Accelerated case pre-tax NPV8 A$441.9M (Base case A$342.7M), lithium hydroxide 10,129tpa, using only the 6.3Mt measured and indicated resource. DFS to start in July, aiming at about 800,000tpa mining rate with a bigger resource.

resource reserve update

Zone 2 drilling restarts 5 February 2018, funded by the December raise: six remaining holes (1,250m) due by early April. Earlier funding shortage had stopped it after three of nine holes. Aim is to lift measured and indicated resources; PFS still due end Q1.

drilling spud

Cervantes announces settlement of the Paynes Find gold purchase, with 25M Cervantes shares to be issued to European Lithium. Remaining cash is rescheduled: $25k by 15 Jan, $25k by 28 Feb, $230k by 31 Mar 2018. $220k paid so far.

asset acquisition disposition

Paynes Find gold sale to Cervantes settled after several extensions. Consideration is $500k cash ($220k received) plus 25M Cervantes shares at 2c. Remaining cash payments run to 31 March 2018. Chair says focus is the Wolfsberg PFS and Zone 2.

asset acquisition disposition

Placement heavily oversubscribed: firm commitments for $5M at $0.225 a share, with the extra $1M accepted. About 95% was taken up by European investors. Funds go to understanding Zone 2; shares and options due to be issued 11 December.

capital raising announcement

Placement launched at $0.225 a share to raise up to $4.0M, plus up to $1M in oversubscriptions, a 40% premium to the 15-day average price. Free $0.25 options attach. Funds go to expediting drilling in Zone 2 at Wolfsberg. Earlier raises were at $0.05.

capital raising announcement

DRA Global appointed to complete the Wolfsberg pre-feasibility study, now expected in Q1 2018, funded by the recent raise. Earlier plan was PFS in Q3 2017. SRK keeps responsibility for mine design; scoping NPV10 remains US$95M.

contract award

Placement of up to $2 million at $0.05 per share, mainly to European sophisticated investors, to fund finishing the Wolfsberg pre-feasibility study. Not underwritten. Priced above the June 2017 placement at $0.045.

capital raising announcement

European Lithium admitted to the Vienna Stock Exchange (ticker ELI), the first Australian company to be admitted; trading expected from 9 October 2017. The company says it opens the stock to Austrian institutions and private investors previously excluded.

other

Dorfner testwork made battery grade lithium carbonate (>99.9%, 86.8% recovery) and hydroxide (>56.5%, 82.6% recovery) from Wolfsberg concentrate. Completes the battery grade step flagged as in progress in June; recoveries are for continuous operation (estimated).

other

Federal Court granted all orders sought, declaring on-sales of 13.33M, 6.86M and 3.44M shares issued in June 2017 not invalid and relieving sellers of liability. Trading resumes 27 July. Resolves the cleansing-notice problem behind the 7 July suspension.

listing compliance notice

ASX suspended trading in European Lithium shares immediately at the company's request, pending an announcement on whether the recent cleansing notices are valid. Administrative notice of the suspension.

listing compliance notice

Wolfsberg resource rises to 10.98Mt at 1.0% Li2O, adding 4.68Mt inferred at 0.78% in Zone 1 after deep drilling. Contained lithium up 50%. Existing 6.3Mt measured and indicated at 1.17% is unchanged.

resource reserve update

Arbitration tribunal ruled on 26 June 2017 that the Glock Gut land access agreement is valid and its termination unlawful, giving full site access immediately. About $300,000 of costs and bonds are to be recovered. Resolves the open arbitration thread.

regulatory community update

Assays confirm the Zone 2 veins are high grade: 3.38m at 1.45% Li2O in P15-5 and 3.99m mineralised at 1.26% Li2O in P15-6, with up to 1.92% in places. Supports the idea Zone 2 could mirror Zone 1.

drilling result

First two Zone 2 holes hit wide spodumene-rich pegmatite, up to 3.51m (P15-5) and 5.38m (P15-6) true width, which the CEO says beat expectations. Assays are due mid-June. Contrasts with the earlier Zone 2 hole that hit no pegmatite.

drilling result

Placement raising A$1.1M at $0.045 per share, with one $0.05 option (expiring 31 March 2020) for every two shares. Below the $0.08 raised in September 2016. Funds go towards finalising the PFS.

capital raising announcement

Final two deep holes confirm veins to about 1250m above sea level, with 2.01% Li2O over 2.03m of veins in amphibolite near surface. Resource upgrade now due June 2017, slipping from end May.

drilling result

Binding term sheet with China's Shandong RuiFu to be first off-take partner, planning up to 50,000tpa of 6% spodumene concentrate. A formal agreement is due within 90 days, after Shandong tests ore samples. Not yet final.

material agreement

SRK scoping-level mine design finds the project viable: 13-year mine life on the current resource and preliminary pre-tax NPV10 of US$94.8M. Dorfner produced 99.9% lithium carbonate. Resource increase would be inferred only; PFS still to come.

other

First two deep holes confirm veins extend to depth: 4.33m at 1.9% Li2O in amphibolite and 2.71m at 0.73% in mica schist. Resource upgrade expected by end May 2017. This follows the earlier 6.3Mt resource.

drilling result

Following the resource upgrade, the milestone is met and 62.5M second-tranche shares are issued to sellers of the Wolfsberg acquisition, plus 7.8M shares to adviser EverBlu. Escrow applies to most; this closes the open milestone thread and adds dilution.

security holder rights change

Binding terms sheet to sell Paynes Find gold project to Cervantes for $1M: 25M Cervantes shares at 2 cents ($500,000) plus $500,000 cash in instalments. Resolves the open sale search; conditional on due diligence and approvals.

asset acquisition disposition

Resource upgraded under JORC 2012 to 6.3Mt measured and indicated at 1.17% Li2O (2.86Mt measured at 1.28%, 3.44Mt indicated at 1.08%): tonnes up 75%, contained lithium up 33%. Replaces the 3.7Mt inferred figure; drilling continues to extend it.

resource reserve update

Company says twin-hole and channel data show the old Minerex data is not significantly different, so it can be used in a JORC 2012 resource model. Upgrade is described as imminent; the figure is not yet released, and the end-October target has slipped.

resource reserve update

Surface drilling begins at Wolfsberg: four deep Zone 1 holes (1,760m) and nine Zone 2 holes (1,750m), plus 300m of trenching, over about 16 weeks. The Zone 2 permit is received; Zone 1 awaits a written decree. Upgraded resource still expected early November.

drilling scheduled

Dorfner Anzaplan engaged for metallurgical test work to optimise the Wolfsberg process and test a possible low-cost route to fast-track limited production. Pilot programme is scheduled to finish by end Q1 2017.

material agreement

Actual funds raised were $6,232,200, near the $6M minimum rather than the $9M maximum. Planned spend includes $1.36M Zone 1 drilling and $867,000 Zone 2 drilling, from $6.58M total including existing cash.

capital raising announcement

Landowner dispute with Glock Gut over Wolfsberg: the underground drilling finished 1 September under an injunction, but an appeals court overturned it on 30 August and the company is appealing. Arbitration is under way; company says planned work is unaffected.

regulatory community update

ASX will reinstate the company to quotation on 20 September 2016 as EUR, after a suspension since 5 May. 156,095,863 shares are quoted; large blocks of shares and 200M options are escrowed for 12 to 24 months.

other

Acquisition of 100% of European Lithium AT, owner of Wolfsberg, completed; 187.5M shares issued to sellers. A further 62.5M shares depend on lifting the resource to at least 4.5Mt at 1.3% Li2O. Tony Sage becomes chair; company renamed European Lithium.

asset acquisition disposition

Re-compliance prospectus to raise up to $9,000,000 via 112,500,000 shares at $0.08, plus up to 250,000,000 shares to European Lithium holders and up to 31,250,000 shares and 200,000,000 options to lead manager EverBlu. Company to be renamed European Lithium; Tony Sage proposed chair, Dr Steve Kesler proposed CEO.

capital raising announcement

Due diligence on the Wolfsberg lithium acquisition is complete. A notice of meeting will go out within 10 days seeking approval for the deal and a capital raising of $6M to $9M. Resource of 3.7Mt at 1.5% Li2O repeated.

material agreement

Binding terms sheet to acquire 100% of European Lithium AT (Investments), owner of the Wolfsberg lithium project in Austria, with an inferred resource of 3.7Mt at 1.5% Li2O (55,500t contained lithium). It is conditional and a reverse takeover; this ends the search for a new asset.

asset acquisition disposition

ASX lifts the trading suspension from 31 March 2016 after the capital raising was completed. The suspension began 2 Feb 2015, so shares trade again after about 14 months.

other

The 1-for-1 rights issue raised only $84,743, a 7.2% take-up (2,118,563 shares), against up to $1,176,716 sought. Directors have 3 months to place the 27,299,337-share shortfall. Shares on issue become 31,536,463.

capital raising announcement

Offers 1 new share for every 1 held at $0.04 to raise up to $1,176,716 (29.4M shares), not underwritten. The chairman says directors will now also evaluate projects outside the resources industry, citing falling commodity prices. This is a strategy shift.

capital raising announcement

The whole 5,789,480-share rights shortfall was placed at $0.05, raising $289,474 and bringing the rights issue total to $534,871. Shares on issue rise to 29,417,900. The company says it is doing due diligence on a possible new substantial asset.

capital raising announcement

Rights issue closed raising $245,397, a 46% take-up of the 4-for-7 offer at $0.05. That is below the $534,871 sought. 4,907,938 shares are applied for, leaving a shortfall of 5,789,480 shares that directors have three months to place.

capital raising announcement

Offers 4 new shares for every 7 held at $0.05 to raise up to $534,871 (10.7M shares), not underwritten. Funds go to Paynes Find exploration and working capital. Relisting requires funding for two quarters of operations.

capital raising announcement

PNE failed to raise the $7M minimum, so it cannot exercise the option to buy Canadian River, which expires 31 March 2015. The board blames oil price instability. This ends the transaction approved on 30 January. Shares stay suspended; it will now seek working capital.

material agreement termination

Re-compliance prospectus to raise up to $8M by issuing 80M shares at $0.10, after the 1-for-50 consolidation. The company is to be renamed Arkoma Energy. It is needed for ASX re-admission and to fund the Canadian River purchase. Text truncated; the minimum is not shown here.

capital raising announcement

Shares suspended from quotation after the general meeting approved a change in the scale and nature of activities, which fits the Canadian River deal. They stay suspended until the company complies with ASX Chapters 1 and 2.

listing compliance notice

Signs a free option, open to 23 December 2014, to buy Delecta's Canadian River oil project in Oklahoma (80% working interest, 58% net revenue interest in a completed first well). Price is $3M of shares at 0.002 cents, options and $1M of revenue. It needs shareholder approval, a name change, a share consolidation, a $4-8M raise and ASX re-admission.

material agreement

The sale of the seven western tenements has settled and the $300,000 balance has been received, resolving the overdue payment. Total sale proceeds are $350,000, and the annual exploration commitment falls by about $30,000.

asset acquisition disposition

Rights issue closed raising $312,650, a 31% take-up of the $1,007,877 sought, at $0.001 per share. 312,650,280 shares are issued, leaving a shortfall of 695,226,220 shares that directors have three months to place.

capital raising announcement

Launches a 5-for-2 renounceable rights issue at $0.001 per share to raise up to $1,007,877, not underwritten. Planned uses include $260,000 to repay the Delecta loan, $250,000 for exploration and $200,000 for payables. Fully subscribed, shares on issue would reach about 1.41 billion.

capital raising announcement

Signed a $250,000 unsecured loan from substantial shareholder Delecta (24.8%), at 10% interest plus a 2% fee. Repayment is intended by conversion to equity in a proposed rights issue, terms not yet set. Funds are for exploration and working capital.

debt financing

Conditional deal to sell 7 peripheral tenements (247ha, about 25% of the land) for $350,000, with $50,000 non-refundable deposit received. The $300,000 balance is due within 90 days if the buyer raises funds. Main gold targets are not in the sale.

asset acquisition disposition

Half year to 31 Dec 2013: loss $5,098,960 (prior $2,088,587), mainly from writing off capitalised exploration. Net assets fell from $5.03M to negative $65,391. The company is reassessing drilling given patchy gold and no significant resource, and is discussing trial mining, farm-in or outright sale.

half year report

Paul Lloyd, a chartered accountant, becomes Non-executive Chairman, Company Secretary and CFO. Chairman Peter Landau, executive director Doug Taylor and secretary Jane Flegg have resigned. Carl Popal remains as the executive director.

director officer appointment

The company could not agree a revised mining services deal with MJF and has formally terminated the agreement signed 4 June 2013, which had offered 50% of gold. It is talking to other contractors on a profit-share basis.

material agreement termination

Agreement with MJF Mining Contractors to expand mining to two open pits to 40-50m depth. Target is at least 20,000 tonnes a month within 6 months, with the plant upgraded to 200 tph. The company gets 50% of gold, up from 25% under the earlier deal. MJF bears all costs.

material agreement

Small-scale mining of eluvial/alluvial gold has started in the company's own plant, 50 tonnes per hour. A contractor pays all costs for 25% of revenue. Target is about 9,000 tonnes a month at 0.3-0.5 g/t, giving the company its first cash revenue potential.

production update

All Phase II assays are in. New hits include 12m at 6.61 g/t gold from 10m and 3m at 8.05 g/t, plus the earlier 3m at 92.1 g/t. Gold also found in greenstone schist, not just gneiss. CSA Global structural study and Stage 3 drilling are next.

drilling result

First 40% of Phase II assays: 3m at 92.1 g/t gold from 41m in PFRC120, including 1m at 271 g/t. Other intersections were modest (e.g. 3m at 4.94 g/t). Remaining results due in two to four weeks.

drilling result

Drilling contracts signed for Phase II: 6 diamond holes and a 15,000m RC program (initial 64 holes), July to September. Malcolm Day, managing director of largest shareholder Delecta, joins as non-executive director.

drilling scheduled

ASX will reinstate Paynes Find shares to quotation from 2 July 2012, ending the suspension that began with the 11 October 2011 trading halt.

listing compliance notice

The $4M rights issue is completed along with a $1M placement on the same terms, approved at the 15 June meeting. Company says it is debt free; director loans were repaid in shares. Re-quotation requested.

capital raising announcement

Shareholders took up only about 28% of the rights issue ($1.12M, 56.2M shares). The $2.89M shortfall goes to underwriter Patersons, including a $2M priority portion for Delecta. Allotment due 26 June 2012.

capital raising announcement

The court granted the application to discontinue the winding-up proceedings. The company says it can now focus on exploration and getting its shares back to trading, with Stage 2 drilling targeted for Q2/Q3 2012.

bankruptcy or receivership

Delecta Limited disclosed its $900,000 loan to the company at 12%, secured over all assets and tenements, due by 1 May 2012. It will sub-underwrite $2M of the rights issue for a 3% fee, may be topped up to 19.9%, and can nominate a director.

debt financing

Old note holders were paid $1,078,278 and winding-up proceedings are being discontinued. A $4M rights issue at 2c, underwritten by Patersons, proceeds, supported by $900k from Delecta Limited (secured, 12%) and $700k of director loans.

capital raising announcement

The company admits breaching ASX placement limits with its $750k August and $400k October 2011 convertible notes, and refinances with $1.2M of 12% director-linked loans due 1 May 2012. Plans an underwritten $4M rights issue at 2c; Peter Landau becomes chairman.

debt financing

Troca Enterprises, a holder of $350k in convertible notes, served a Federal Court application on 22 December 2011 to wind up the company. The company says a refinancing and underwritten rights issue will repay the Troca debt.

bankruptcy or receivership

Carl Popal was appointed non-executive director and company secretary after Paul Berresford resigned as chairman and secretary on 15 December 2011. Berresford had led the company since March 2010.

director officer appointment

At the 4 November AGM, re-election bids for Salter, Matich, Caminschi and Leedman were withdrawn and Adam Bennett's re-election was voted down (33.1M for, 41.0M against). The meeting adjourned to 11 November, leaving chairman Berresford as sole remaining director, to appoint at least two more.

agm notice

The company received a shareholder request under section 249D to call a general meeting to appoint Carlos Popal, Doug Taylor and Ray Musket as directors. This is a push to change the board.

security holder rights change

Brian Leedman resigned as interim Managing Director effective 9 October 2011, three weeks after taking the role, but stays on the board as a non-executive director. No permanent managing director has been named.

director officer appointment

The company decided not to proceed with the 7 September rights issue, which aimed to raise up to $6.0M for Stage 2 drilling. No reason is given in the text, so funding for Stage 2 is now unclear.

capital raising announcement

Peter Salter and Adam Bennett stepped down as Managing Director and Executive Director but stay as non-executive directors. Brian Leedman became interim Managing Director pending a permanent hire, and Andrew Caminschi joined the board as a non-executive director.

director officer appointment

CSA Global was appointed to advise on Stage 2 drill planning and quality control, with a separate agreement to produce a JORC resource estimate after drilling. Management expects Stage 2 drilling done by mid-February 2012 and a resource by early April 2012.

contract award

A 1-for-1 non-renounceable rights issue at 6c to raise up to $6,027,150 to fund Stage 2 drilling, with Patersons managing the shortfall. A JORC resource is expected after the next drilling stage. Closes 7 October.

capital raising announcement

A placement of 2,700,000 shares at 6 cents raised $162,000 for working capital. That is far below the 20c paid in the May raising and the 20c IPO price.

capital raising announcement

Issued 15 convertible notes of $50,000 to raise $750,000, at 10% interest paid quarterly, expiring 19 February 2013. Converts at the lesser of 6c or a 20% discount to the 5-day average price. First debt for the company; conversion could dilute shareholders.

debt financing

Stage 1 finished with all 69 holes assayed: 81% hit significant gold, including 10m at 1.8g/t and 2m at 50.5g/t. Further drilling north and east is planned. The company says widths suit bulk selective mining, and a resource statement is expected after Stage 2.

drilling result

The $1.2M placement flagged on 13 May is complete: 6,000,000 shares at 20c, with free 20c options (expiring 1 Nov 2012) on a 2-for-3 basis. CPS Securities also received 1,000,000 options. Shares on issue rise to 97,752,503.

capital raising announcement

Stage 1 assays from 43 of 69 holes include 2m at 50.5g/t, 2m at 19.0g/t and 10m at 1.8g/t, mostly shallow. A JORC resource may follow the final results. Also announced: a proposed placement of up to $1.2M at 20c.

drilling result

Drilling began at the wholly owned Paynes Find Project: an initial 3,500m reverse circulation programme to 50-80m depth around the Carnation/Blue Heaven old workings. Taking about 12 weeks, with first results expected from late April 2011.

drilling spud

Paynes Find Gold was admitted to the ASX Official List on 29 November 2010, with quotation due 2 December 2010. The release is a pre-quotation disclosure checklist confirming conditions under the First Tech and Cable agreements were met, including a $2.9 million payment.

other