European Lithium (ASX: EUR) is a mining exploration and development company focused on its wholly owned Wolfsberg Lithium Project located in Carinthia, 270km south of Vienna, Austria. Wolfsberg is a hard rock lithium deposit comprising a JORC Code (2012) compliant measured and indicated resource of 6.3 million tonnes at 1.17% Li2O and inferred resource of an additional 4.68 million tonnes that are anticipated to be upgrade after the completion of a surface drilling program currently underway. A positive pre-feasibility study completed in Q2 2018 based only on current measured and indicated resources confirmed the technical and economic viability of the project with NPV8 US$339.4m pre-tax, 10,129 tpa lithium hydroxide production and initial 10 years mine life (accelerated case). The upgraded resources will be used in the definitive feasibility study that will commence in Q3 2018 and is anticipated to be completed Q1 2019. Wolfsberg is well located to service European lithium consumers and close to road and rail infrastructure. The Company aims to fast track the development of the project which has the potential to become a major producer of lithium in Europe supplying an integrated European battery supply chain.
Plans & Latest Developments:
EUR completed a positive pre-feasibility study in Q2 2018 based only on current measured and indicated resources confirmed the technical and economic viability of the project with NPV8 US$339.4m pre-tax, 10,129 tpa lithium hydroxide production and initial 10 years mine life (accelerated case). A surface drilling program to demonstrate the extension of the JORC inferred resource to the northwest in Zone 1 of the Wolfsberg Lithium Project, upgrade and increase resources is currently underway a resource increase is anticipated end Q4 2018. The definitive feasibility study planning has commenced and is anticipated to be completed Q2 2019.
Why should investors invest in you?
With its focus on the Wolfsberg Lithium Project EUR aim to be the first local lithium supplier into an integrated European battery supply chain. The EU has identified batteries are at the heart of the industrial revolution and through the creation of the European Battery Alliance is committed to creating a competitive manufacturing value chain in Europe with sustainable battery cells at its core. EUR is ideally positioned to take advantage of the growing lithium market in Europe and meet the requirements of current and proposed battery processing and production facilities.
Stock Exchange Listing:
Stage of Development:
Exploration | Development
Countries of Operation:
Australia | Austria
Board of Directors:
- Tony Sage – Non-Executive Chairman
- Dietrich Wanke – Chief Executive Officer
- Malcolm Day – Non-Executive Director
- Stefan Müller – Non-Executive Director
- Melissa Chapman – CFO & Company Secretary
- Christian Heili – Project Director, Wolfsberg Lithium Project