Each one in plain English, with the numbers worked through for a shareholder.
27 July 2017other▲ GoodMajor
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).
26 July 2017listing compliance notice● Neutral
ASX confirms European Lithium shares return to quotation from 27 July 2017, following the company's announcement on the cleansing notices. Administrative notice duplicating the court-order news.
26 July 2017listing compliance notice▲ GoodMajor
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.
19 July 2017investor presentation● Neutral
Presentation for a European road show this week. States it draws on previous announcements; no new results or figures are identified in the text provided.
11 July 2017capital raising announcement● Neutral
Cleansing prospectus offer closed with no shares issued (final number nil, versus up to 20,000 proposed). Administrative close-out of the fix for the defective cleansing notices.
11 July 2017capital raising announcement● Neutral
Formal notice that up to 20,000 shares at $0.05 may be issued under the 10 July cleansing prospectus. Administrative step to fix the defective cleansing notices, not a real fundraising.
What it means for a shareholder
20,000 new shares at $0.050 to raise about $1,000. 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.
11 July 2017capital raising announcement● Neutral
Cleansing prospectus offers up to 20,000 shares at $0.05 to raise only $1,000. Its purpose is to remove trading restrictions on shares issued earlier, fixing the defective cleansing notices. Not a real fundraising.
What it means for a shareholder
20,000 new shares at $0.050 to raise about $1,000. 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.
7 July 2017resource reserve update● Neutral
At ASX's request, the company adds a summary of how the 3 July resource was estimated. The extra 4.68Mt is inferred only, extrapolated down dip from four deep holes. No change to the resource figures.
7 July 2017listing compliance notice▼ BadMajor
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.
7 July 2017listing compliance notice▼ Bad
Company's request for voluntary suspension from 7 July so it can lodge a cleansing prospectus, expected by 10 July 2017. It follows the defective cleansing notices and asks for no other change.
7 July 2017asset acquisition disposition● Neutral
Cervantes' own notice of the same Paynes Find amendment: more time to obtain approvals and a further $20,000 paid to European Lithium. Duplicates the company's announcement and adds nothing new.
7 July 2017asset acquisition disposition● Neutral
Paynes Find sale terms amended to give Cervantes more time for approvals, with a further $20,000 received, taking cash received to $70,000 of $500,000. The share portion of 25M CVS shares still falls due on completion, which is not yet reached.
6 July 2017listing compliance notice▼ Bad
Responding to an ASX query, the company admits its cleansing notices for recent share issues were invalid because it had been suspended more than 5 days in 12 months. It will lodge a prospectus and seek a court order. Blames an honest mistake.
6 July 2017listing compliance notice▼ Bad
Duplicate of the 6 July response, now attached to ASX's 5 July query letter. The company concedes the cleansing notices were defective, plans a prospectus and a court validation application. No new information.
3 July 2017resource reserve update▲ GoodMajor
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.
30 June 2017regulatory community update▲ GoodMajor
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.
28 June 2017drilling result▲ GoodMajor
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.
26 June 2017other▲ Good
Processing testwork completed: flotation gives 6.2% Li2O spodumene concentrate, plus feldspar and quartz by-products (32.2% of ore). Expected overall lithium recovery is 85% in continuous operation; 75.4% in the batch balance. Technical grade hydroxide shown, battery grade still in progress.
15 June 2017other● Neutral
Cervantes' own release confirming the signed Paynes Find sale agreement and presenting its technical review of the project's exploration potential. It is the buyer's view and adds nothing new on the sale terms for European Lithium shareholders.
14 June 2017asset acquisition disposition▲ Good
Formal sale agreement signed with Cervantes for Paynes Find gold: $500k of CVS shares (25M at 2c) plus $500k cash in instalments, with $25k more received. Balance is due on completion. Follows the December 2016 terms sheet.
9 June 2017drilling result▲ GoodMajor
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.
8 June 2017capital raising announcement▼ BadMajor
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.
31 May 2017drilling result▲ GoodMajor
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.
15 May 2017material agreement▲ GoodMajor
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.
5 May 2017investor presentation● Neutral
Re-release of the May 2017 company presentation with added disclaimer and competent person wording. No new information.
4 May 2017investor presentation● Neutral
Presentation for European investor events repeats known facts: 433.7M shares, A$25.3M market cap, 208M options. Roadmap now shows PFS finalised Q3 2017, DFS H1 2018. Dates indicative.
27 Apr 2017other▲ GoodMajor
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.
18 Apr 2017drilling result▲ GoodMajor
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.
7 Apr 2017asset acquisition disposition● Neutral
Cervantes completed due diligence on Paynes Find, paying a $20,000 instalment. The $1M sale still needs a formal agreement and approvals; balance is paid on completion. Continues the December 2016 terms sheet.
29 Mar 2017other▲ Good
Flotation testwork produced a spodumene concentrate above 6% Li2O, up from the 5.3% DMS grade, and it suits acid-roast conversion. A European glass-ceramic producer wants a pilot plant trial. Battery-chemical work due end April.
