Ann: CVS: Paynes Find Project Purchase Update, page-6

EUR banking on upside of Cervantes.................. ME2 U2 V ALL DO!

If they (EUR) are correct, early movers of CVS and EUR will be rewarded. This is not "Unlicensed Advice" Folks. Just rdncoic's opinion about the news release below. If EUR is excited about CVS adding valuable funding to it's bottom line, well maybe I should add some more shares to my bottom line...........................

As well as being leveraged to Cervantes, the Paynes Find transaction has provided European Lithium with valuable funding with which to fast-track its flagship Wolfsberg Lithium Project in Austria.


European Lithium banks on gold upside of Cervantes as it lifts stake to 8%

10:46 06 Jul 2018
Sale of the Paynes Find Gold Project has been settled with scrip agreement for remainder of cash transaction.
http://static2.*.com.au/thumbs/upload/Article/Image/2018_07/757z468_1530838442_Gold-shutterstock_635578745.jpg
Cervantes Corporation has received bonanza grade gold results from recent drilling
European Lithium Ltd (ASX:EUR) (FRAF8) (VSE:ELI) is banking on the gold strategy of Cervantes Corporation Limited (ASX:CVS) by securing an 8% stake in the explorer.
Cervantes has received bonanza grade gold results of up to 202.8 g/t, 129.3 g/t and 49 g/t from its Albury Heath project in Western Australia.
READ: Cervantes Corporation surges 143% on bonanza-grade gold results from Albury Heath

The upside represented by the gold explorer encouraged European Lithium to take more scrip instead of cash from finalising the sale of its Paynes Find Gold Project to Cervantes.
This transaction has settled with total consideration comprising $500,000 cash, of which
$420,000 has been received, and $500,000 in share consideration, also received.
The parties have agreed to settle the remaining cash consideration payable of $80,000 through the issue of 7 million Cervantes shares at an issue price of 1.14 cents each.
READ: European Lithium chairman buys more shares

European Lithium’s non-executive chairman Tony Sage said: “We are very pleased that this transaction has now completed.
“We wish CVS all the best in the development of the Paynes Find project and more recently the very high grade results from Albury Heath.
“To achieve further returns we decided to take more scrip instead of cash because of the potential upside in the latest results which in turn will further add value to European Lithium."
European Lithium will also be issued one free attaching unquoted option for every two shares issued which are exercisable at 1.5 cents each on or before June 30, 2020.
READ: European Lithium passes first stage of EU funding program for lithium technology

As well as being leveraged to Cervantes, the Paynes Find transaction has provided European Lithium with valuable funding with which to fast-track its flagship Wolfsberg Lithium Project in Austria.

The company’s increased position in Cervantes is already showing positive signs as shares traded at up to 1.7 cents on the back of the Albury Heath results.

http://www.*.com.au/companies/news/...-cervantes-as-it-lifts-stake-to-8-200244.html