3 Dec 2018other● Neutral
Routine UK-rules notice: issued capital was 547,876,022 ordinary shares at 30 November 2018. Administrative only.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
26 Nov 2018other▲ Good
Admission to the NEX Exchange Growth Market in London confirmed; trading begins 26 November 2018 under the ticker EUR. Completes the application announced on 20 November. Issued capital stated as 547,876,022 shares.
20 Nov 2018other▲ Good
Company applies to list its 546,325,198 shares on London's NEX Exchange Growth Market, with trading expected from 26 November 2018. It says this gives European investors more access and liquidity. The ASX listing is unchanged.
10 Sept 2018other● NeutralMajor
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.
7 Sept 2018debt financing● NeutralMajor
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.
7 Sept 2018debt financing● Neutral
Revised version of the Magna A$10M convertible note release. Adds tranche milestones (drilling start, new resource/reserve, one with none), a A$0.10 conversion floor, A$1.10 note face value, and that drawing later tranches is optional. Supersedes the earlier version.
6 Aug 2018director officer appointment▲ Good
Christian Heili, a mining engineer with 30+ years' experience, is appointed Project Director for Wolfsberg. He will help oversee the Definitive Feasibility Study, still expected to start in the third quarter, alongside new CEO Dietrich Wanke.
27 July 2018admin correction● Neutral
Appendix 4G lodged with the annual report, pointing to the corporate governance statement on the company's website, approved by the board as at 26 July 2018. Administrative filing only; no operational or financial information.
27 July 2018annual report● Neutral
Annual report to 30 June 2018 shows a net loss of $749,798 (2017: $8,008,363). Directors are Sage, Day and Müller. Repeats the Horizon 2020 and Cervantes share settlement events after year end.
5 July 2018asset acquisition disposition● Neutral
Paynes Find sale finalised: the last $80k of cash owed will be paid as 7M Cervantes shares at 1.14c, plus one free option per two shares at 1.5c to June 2020. $420k cash received so far. Replaces the earlier cash schedule.
5 July 2018asset acquisition disposition● Neutral
Cervantes' own announcement of the same deal: the remaining $80k is settled with 7M Cervantes shares at 1.14c plus attaching options at 1.5c. Duplicate of European Lithium's notice from its counterparty's side.
2 July 2018regulatory community update▲ Good
Austrian subsidiary is in a 17-member consortium that passed the first stage of EU Horizon 2020 funding for a lithium extraction technology project, seeking EUR4.9M for the consortium. Final evaluation is due in Q3; funding is not secured.
25 June 2018other● Neutral
Share registry moves to Computershare from close of business 29 June 2018. Administrative notice only.
18 June 2018other● Neutral
Company has amended its Securities Trading Policy under ASX rules, with the revised policy attached. Administrative only; the text does not show what changed.
29 May 2018investor presentation● Neutral
About 100 investors, politicians and press visit the Wolfsberg site on 29-30 May 2018 to hear the PFS and Zone 2 results. Nothing new announced.
4 May 2018director officer appointment● NeutralMajor
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.
30 Apr 2018other● Neutral
Annual corporate governance statement, last board-reviewed 5 September 2017. It says the company does not follow every ASX recommendation given its size. No new operational or financial information.
27 Apr 2018drilling result▲ GoodMajor
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.
5 Apr 2018resource reserve update▲ GoodMajor
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.
3 Apr 2018asset acquisition disposition● Neutral
Cervantes deferred cash terms amended again: $270k received of $500k cash, with the remaining $230k now $75k by 31 March, $75k by 31 May and $80k by 30 June 2018. The share part ($500k) is received.
29 Mar 2018drilling result▲ Good
Zone 2 drilling finished 27 March 2018: five holes, 1,329m, all hitting pegmatite, one 10.0m true width (widest in Zone 1 was 5.5m). Assays due mid-April. PFS due this week; 28-hole Zone 1 programme (11,330m total) awaits permits.
22 Mar 2018admin correction● Neutral
Company confirms the 20 March 2018 cleansing prospectus offer has closed and no shares will be issued under it. Administrative only.
20 Mar 2018capital raising announcement● Neutral
Routine cleansing prospectus offering up to 20,000 shares at $0.24 to raise $4,800, to remove trading restrictions on recently issued shares. Compliance step, not a real raise; the text provided does not say which issue prompted it.
What it means for a shareholder
20,000 new shares at $0.240 to raise about $4,800. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
20 Feb 2018admin correction● Neutral
ASX-requested addendum confirming production target information on slide 17 of the February presentation is from the 27 April 2017 study and its assumptions still apply. No new information.
19 Feb 2018investor presentation● Neutral
February 2018 corporate presentation for a European roadshow by the Chairman and Director Stefan Müller. Based on previous announcements; no new figures identified.
5 Feb 2018drilling spud▲ GoodMajor
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.
30 Jan 2018half year report● Neutral
Half-year report to 31 December 2017 largely repeats the quarterly's corporate events: October and December placements, new director, Vienna listing and new constitution. The financial figures were not in the text provided.
21 Dec 2017asset acquisition disposition▲ GoodMajor
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.
21 Dec 2017asset acquisition disposition▲ GoodMajor
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.
19 Dec 2017admin correction● Neutral
Company confirms the 29 November cleansing prospectus offer has closed and no shares will be issued under it. Administrative only.