28 Feb 2022investor presentation● Neutral
Notice that Chairman Tony Sage will present at the Spark Plus Metals & Mining Day webinar on 3 March 2022. No new information.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
22 Feb 2022asset acquisition disposition▲ Good
Completes the royalty buy-back agreed in November by issuing 15.55M shares and 7.78M options (A$0.20, expiring Feb 2024) to the royalty holder, after AGM approval. Removes the legacy €1.50/t Wolfsberg royalty in exchange for dilution.
16 Feb 2022half year report● Neutral
Half-year report to 31 December 2021 restates known events: the A$6.5M August placement, Millstone/Petro deal, Winance notes fully converted, Zhernov appointed director 22 Dec, and Sage moving to Executive Chairman. Financial figures are not in the text shown.
31 Jan 2022quarterly activities report● Neutral
December quarter report restates the Millstone/Petro deal terms, the 12.9Mt resource, DRA's appointment of all DFS sub-consultants, and completed Dorfner locked-cycle tests with ISO certificates for battery-grade products. Largely repeats known facts; the quarter's financial figures are not in the text shown.
28 Jan 2022capital raising announcement● Neutral
Issues 26.3M shares for Millstone's second A$2.5M tranche following AGM approval, plus small debt-settlement shares, option exercises, 21M unlisted options and 80M performance shares to directors Sage, Day and Carter. Routine issue notice, though the director performance shares add potential dilution.
21 Jan 2022agm notice▲ Good
All AGM resolutions pass on a poll, including the Millstone second-tranche share issue, the royalty buy-back securities, and director securities. The headline says the Ukraine transaction is approved; the shown resolutions cover the Millstone share issues. Petro acquisition shareholder approval is not identifiable in the text.
22 Dec 2021material agreement▲ GoodMajor
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.
22 Dec 2021capital raising announcement▲ Good
First Millstone tranche completes: A$2.5M received for 26,310,749 shares. Part of the A$20M subscription tied to the Ukraine Petro Consulting acquisition announced in November; A$2.5M more needs AGM approval and A$15M comes on completion of that acquisition.
2 Dec 2021other▲ Good
Anzaplan testwork on 2013 bulk samples produced lithium hydroxide and 99.6% lithium carbonate, with impurities below the stated specifications. Supports the DFS metallurgy; no offtake or commercial terms mentioned.
2 Dec 2021material agreement● Neutral
Jadar Resources, which owns 80% of the Weinebene and Eastern Alps projects next to Wolfsberg (EUR holds 20%), signs a non-binding MOU with Chinese lithium producer Yahua. Yahua may take up to 80M shares (~10%) at A$0.045. Partnership agreement due within 6 months.
1 Dec 2021resource reserve update▲ GoodMajor
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.
25 Nov 2021admin correction● Neutral
Routine notice: 5,004,426 shares issued on exercise of 5c unlisted and 7.5c listed options. No new facts.
23 Nov 2021other▲ Good
Shares now quoted on the US OTCQB market, the listing flagged for October. ASX stays the primary listing. The release gives the symbol as EURIF, though it also shows EULIF elsewhere.
16 Nov 2021joint venture update▲ Good
Jadar Resources (owner of 80% of the neighbouring Weinebene and Eastern Alps projects) and EUR form a Technical Advisory Committee, Tony Sage and Luke Martino, to review drilling and plan follow-up work. Planning step only; no drilling committed.
12 Nov 2021admin correction● Neutral
Routine notice: 10,241,370 shares issued on exercise of 5c unlisted options and 7.5c listed options. No new facts.
9 Nov 2021resource reserve update▲ GoodMajor
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.
9 Nov 2021admin correction● Neutral
Routine notice: 4,043,688 shares issued on exercise of 5c options expiring 31 July 2022. No new facts.
8 Nov 2021other● Neutral
ASX notice that trading is temporarily paused pending a further announcement. No reason is given in the text.
4 Nov 2021price query● Neutral
Replying to ASX's 25 October price query, the company says it was then confidential in talks to buy Petro Consulting. It also cites the OTC listing plan, pending assay results and lithium price media. This explains the earlier suspension.
4 Nov 2021other● Neutral
ASX notice that EUR's suspension will lift once the price query response and the acquisition announcement are released. Administrative.
4 Nov 2021asset acquisition disposition● NeutralMajor
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.
29 Oct 2021quarterly activities report● Neutral
September quarter report: drilling finished (7,923m), rigs demobilised, 3rd of 4 Dorfner locked-cycle tests done. Exploration spend was A$2.10M, admin A$593k, plus a A$280k fine paid to Austria's FMA. Recaps the A$6.5M placement and the OTC plan.
28 Oct 2021other● Neutral
Shares suspended at the company's request pending an announcement about a potential acquisition, to run until no later than the start of trading on 29 October. Procedural; the deal itself was not named.
20 Oct 2021joint venture update▲ Good
DRA Global confirmed as lead consultant for the Wolfsberg DFS, coordinating several sub-consultants; DRA says delivery is on track for end Q1 2022. Company states it is fully funded to complete the DFS. Repeats the known timetable.
6 Oct 2021admin correction● Neutral
Routine notice: 3.4M shares issued on exercise of 5c options expiring 31 July 2022, with the standard s708A compliance statement. No new facts.
30 Sept 2021admin correction● Neutral
Routine notice: 4M shares issued on exercise of 5c options expiring 31 July 2022.
30 Sept 2021joint venture update● NeutralMajor
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.
24 Sept 2021investor presentation● Neutral
Notice that Chairman Tony Sage will present at Spark Plus Metals & Mining Day on 30 September 2021. No new company information.
17 Sept 2021admin correction● Neutral
Routine notice: 150,000 shares issued on exercise of 5c options expiring 31 July 2022.
16 Sept 2021annual report● Neutral
Annual report for year to 30 June 2021: net loss A$3.96M (2020: A$3.26M loss), no dividend, principal activity lithium exploration in Austria. Post-year-end events recap the A$6.5M placement, board changes and Winance note conversion.