16 Sept 2016other● Neutral
ASX lists the documents released before reinstatement, including capital structure, commitments and an update on the Glock Gut property dispute. Index only; the substance is in the separate releases.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
16 Sept 2016annual report● Neutral
Historical accounts of European Lithium AT for FY2013 to FY2015 and half-year to December 2015. Losses were small, with the half-year loss at €48,005. Filed as a listing requirement.
16 Sept 2016other● Neutral
Escrow details: 76,484,115 shares and 200M options held 24 months from quotation; 129,304,772 shares held 12 months from 9 September 2016. Disclosure only.
16 Sept 2016other● Neutral
Pro-forma balance sheet using the actual $6,232,200 raised: cash $7.05M, exploration assets $17.8M, net assets $23.2M. Accounting presentation of the reverse acquisition, not new results.
16 Sept 2016other● Neutral
Confirms completion conditions are met: 187.5M shares to sellers, 23.4M shares and 200M options to EverBlu, 2.5M shares to Malcolm Day. David Holden resigned, Antony Sage joined the board and Dr Steve Kesler is CEO.
16 Sept 2016regulatory community update▼ BadMajor
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.
16 Sept 2016other● Neutral
Distribution schedule showing shareholding spread by holder size. Administrative disclosure with no new development.
16 Sept 2016other▲ GoodMajor
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.
16 Sept 2016other● Neutral
ASX Compliance confirms reinstatement from 20 September 2016 under code EUR, with 156,095,863 shares. Repeats the main notice.
16 Sept 2016other● Neutral
Formal ASX listing application for 156,095,863 ordinary shares under the European Lithium name. Standard form with no new commercial information.
16 Sept 2016other● Neutral
Post-acquisition capital structure: 361,884,750 shares and 208,000,000 options on issue. That includes 77.9M public offer shares, 187.5M to European Lithium holders and 23.4M plus 200M options to EverBlu.
16 Sept 2016other● Neutral
Top 20 holders list as of 9 September 2016. Dempsey Resources is largest at 13.57%, Exchange Minerals 8.53% plus a second holding of 2.86%, Delecta 3.04%. Disclosure only.
15 Sept 2016admin correction● Neutral
Registered office moved to 32 Harrogate Street, West Leederville WA, with new mailing address and phone details. Administrative only.
9 Sept 2016asset acquisition disposition▲ GoodMajor
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.
5 Sept 2016capital raising announcement● Neutral
The offer under the 28 July prospectus has closed. The company will now complete the Austrian lithium acquisition and seek re-admission to the ASX. Amount raised not stated here.
25 Aug 2016capital raising announcement● Neutral
The closing date for the 28 July prospectus offer is extended to Friday 2 September 2016. No change to terms is stated.
29 July 2016regulatory community update▲ Good
ASIC has revoked its interim stop order. The second replacement prospectus dated 28 July is live and fundraising has begun, resolving the delay flagged on 20 July.
28 July 2016capital raising announcement● Neutral
Second replacement prospectus dated 28 July 2016, following the ASIC stop order. Headline terms unchanged: up to $9,000,000 at $0.08 per share. Completion remains conditional.
20 July 2016regulatory community update▼ Bad
ASIC placed an interim stop order on the 1 July replacement prospectus. The company says it is addressing ASIC's concerns and will update soon; this delays the raising and relisting.
1 July 2016capital raising announcement● Neutral
Replacement prospectus dated 1 July 2016 replaces the 21 June version, with the same offer: up to $9,000,000 at $0.08 per share. Text shows no change to the headline terms.
21 June 2016capital raising announcement● NeutralMajor
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.
What it means for a shareholder
113m new shares at $0.080 to raise about $9.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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3 June 2016material agreement▲ GoodMajor
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.
11 May 2016other● Neutral
Delecta, holding 15.1% (11,000,000 shares) of the company, notes the Austrian lithium acquisition and refers to the main announcement. No new information.
11 May 2016asset acquisition disposition▲ GoodMajor
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.
11 May 2016other● Neutral
Cape Lambert, which owns 26.2% of the pre-raising capital of European Lithium Limited, notes the planned reverse takeover listing and attaches the company's announcement. It says the deal unlocks about $6m of value at the proposed listing price.
5 May 2016other● Neutral
Shares suspended at the company's request, pending an announcement on a material acquisition expected before trading on 10 May 2016. This follows a trading halt request of 4 May.
3 May 2016price query● Neutral
Responding to an ASX price query after shares fell from $0.105 to $0.09, the company said it has no undisclosed information. It says advanced talks on a resource deal broke down, and pegmatite veins at Paynes Find may host lithium; re-assaying of old drilling is under way.
30 Mar 2016other▲ GoodMajor
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.
9 Mar 2016half year report● Neutral
Half year to 31 Dec 2015: loss $161,662 (prior period $285,705); net assets $165,722. Exploration kept to minimum; no suitable acquisition found yet. Rights issue raised $84,743 (7.2% take-up) with a $1,091,973 shortfall to place. Directors seek a JV or buyer for Paynes Find.
23 Feb 2016capital raising announcement▼ BadMajor
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.
What it means for a shareholder
2.1m new shares at about $0.040 to raise about $84,743. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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