By developing a local downstream sector such as refining, Western Australia can capitalize on the $2 trillion projected global lithium value chain as per the new report by the Australian Association of Mining and Exploration Companies. Australia hosts a majority of the major lithium projects and conversion of hard rock concentrate to the final lithium battery increases the profit value 500 times. EUROPEAN LITHIUM LIMITED (ASX: EUR) – Up to A$10 million finance facility secured to complete the Definitive Feasibility Study (DFS) for the Wolfsberg Lithium Project. Upon the company meeting key milestones relating to the DFS process and standard conditions precedent an initial amount of A$2.5m was drawn down on 14 September 2018 and a further A$7.5m is available in tranches. The cash and cash equivalents at end of quarter the company has $4.46 million available for funding activities. The directors do not recommend the payment of a dividend and no amount has been paid or declared by way of a dividend to the date of this report. As at October 25, 2018, the stock traded at a market price of $0.110 and it has witnessed a performance change of 111.54% since the last one year.
EUR Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
