European Lithium on track to deliver resource extension news in January
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Winter conditions haven’t delayed European Lithium’s (ASX:EUR) drilling progress at its Wolfsberg project in Austria. As a result of the group’s aggressive exploration initiatives it is on track to inform the market of important developments regarding a resource extension in January.
On this note, EUR’s Chairman, Tony Sage said, “Drilling of the deep holes in Zone 1 to increase the recently declared measured and indicated resource of 6.3 million tonnes grading 1.17% lithium dioxide and the drilling of the new Zone 2 (southern limb of anticline) will be undertaken in parallel and results will be reported as received”.
Sage confirmed that all permits, including deep hole drilling permit and forest clearance permits, required from the authorities in Austria to allow drilling in a forest area were received by the Austrian subsidiary company, ECM Lithium AT GmbH.
EUR has also made good progress on planning in relation to mine design and processing with Chief Executive, Steve Kesler saying, “Metallurgical studies into sensor-based sorting to remove waste dilution from mining and into dense media separation are very encouraging, and mine design studies have begun and will quickly determine the maximum rate of mine production, and hence lithium production potential for the Wolfsburg project”.
However, potential investors should note that EUR is an early stage exploration company and independent financial advice should be sought if considering this stock as an investment.
Prospect of early cash flow from spodumene concentrate
Importantly, the company has already started to explore the prospect of generating early cash flow by tapping into markets where there may be demand for dense media separation spodumene concentrate and flotation/magnetic spodumene concentrate. The initial report of these findings will be received before year-end.
With regard to mine design studies, a seven-week Phase 1 program is underway that will address geological modelling for mine planning, which should provide important data in relation to production rate analysis, production scheduling and high-level capital and operating costs.
Following the results of this study a 12 week program to undertake mine design and scheduling to Pre-Feasibility Study (PFS) level will be carried out.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.