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EUR - EUROPEAN LITHIUM LIMITED


nipper
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posted in the EUR currency thread, by Mactrader

 

Dipped my toes in today at 6.1c.

Proven deposit which is likely to increase in size after the next round of drilling

and in a great location. Should bounce strongly.

13c high 2 weeks ago. Looks good for a trade or hold.

 

European Lithium Limited (EUR), formerly Paynes Find Gold Limited, is a mining exploration and development company which wholly owns the Wolfsberg Lithium Project located in Carinthia, 270 km south of Vienna, Austria.

early Jan 2020 . received commitments to raise A$7 million through a placement to sophisticated investors at $0.05 per share

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  • 1 year later...

EUROPEAN LITHIUM PARTNERS WITH BMW AG TO SUPPLY BATTERY GRADE LITHIUM HYDROXIDE

Highlights
EUR to provide exclusive rights to supply battery grade lithium hydroxide;
• MoU establishes understanding to negotiate final commercial terms, including US$15m prepayment


EUR and BMW AG will work together to negotiate suitable commercial terms for BMW AG to purchase the LiOH produced by EUR. EUR grants BMW AG the first right to purchase 100% of the LiOH produced from the identified resources.

In the event both parties agree to a binding contract, BMW AG will make an upfront payment of US$15 million, which will be repaid through equal set offs against LiOH delivered to BMW AG...  The parties are currently negotiating binding agreements, and no assurance is given that the any binding agreements will be entered into.

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