EUR (ASX) Next Week News Release on Lithium Update?

Originally posted by rdncoic ↑

"Assay results are anticipated mid April 2018 following which a first resource in Zone 2 should be declared. The aim is to have increased Measured and Indicated resources for the Definitive Feasibility Study (DFS) so that the project can be designed and evaluated at a mining rate of about 800,000tpa".

Mid April????????????????? When the heck is Mid April??????

800,000 TPA??????????????????????That is a huge number to announce if it is true.............................

Should be declared???????????????? Do they know already? Did insiders and friends and family buy all those shares sold on the low? Someone call the police or something. Or something........................Don't call me, I was buying.................Once again.......

European Lithium Limited Key Developments

European Lithium Completes Positive Pre-Feasibility Study
Apr 4 18
European Lithium Limited has completed the Pre-Feasibility Study on its 100% owned Wolfsberg Lithium Project in Austria with the results confirming the technical and economic viability of the Project. The Company is on track to become a major supplier to an integrated lithium industry in Europe where motor vehicle manufacturers are accelerating electric vehicle production and lithium battery plants are in construction or being planned. These developments have strong national government and European Commission support. The PFS outlines the development of an underground mine producing, in the Base case, an average of about 620,000tpa Run of Mine (RoM) from stoping and development over 12 years of production. Ore sorters will be used to reject waste from the RoM so that concentrator feed will average about 400,000tpa. The concentrator will produce an average of 55.4 ktpa spodumene concentrate with an average of 114 ktpa feldspar and 71 ktpa quartz as by-products. The lithium in the spodumene concentrate will be converted to an average of 8,400 tpa lithium hydroxide monohydrate at a hydrometallurgy plant to the south of Wolfsberg about 20km from the mine. During the development of the mine plan it became evident that with little extra equipment and improved scheduling the mining rate could be increased to about 720,000tpa. This Accelerated case results in the Measured and Indicated resources of the Base case being mined and processed in 10 years rather than 12. The 20% increase in processing rate results in lithium hydroxide monohydrate production increasing to an average of 10,129tpa. The capital cost of the concentrator and hydrometallurgy plant for the increased production rate was factored up by DRA from the engineered Base case using standard scaling techniques. The pre-tax NPV8 for the Base case is USD 263.2 million which increases to USD 339.4 million for the Accelerated case. The production cost of lithium hydroxide monohydrate is USD 7,160/tonne for the Base case after by-product credits which reduces to USD 6,561/tonne for the Accelerated case. This is higher than current brine production from South America but lower than Chinese production from imported Australian spodumene. The mine design consultant has concluded that mining rates can be further increased to about 800,000tpa which will probably be the upper limit for efficient mining. However, this will require additional Indicated resources to support the higher mining rate and increase the mine life which should increase the NPV of the project further. The company has previously announced an increase in Inferred resources (ASX release -European Lithium increases resource at Wolfsberg adding 4.7 million tonnes at 0.78% Li2O in Zone 1, 3 July 2017). Zone 1 is the northern limb of an anticline where previous exploration work was concentrated. A drill programme to convert this Inferred resource to Indicated has been developed with the assistance of SRK and submitted to the Mining Authority for approval. The Company has also previously announced the results of drilling in Zone 2 which is the southern limb of the anticline (ASX release - Assays confirm wide high grade pegmatite veins in Zone 2 at the Wolfsberg deposit, 28 June 2017). Further drilling in Zone 2 was undertaken January to March 2018 with five holes drilled and all showing numerous pegmatite intersections (ASX release - Project update, 29 March 2018). Assay results are anticipated mid April 2018 following which a first resource in Zone 2 should be declared. The aim is to have increased Measured and Indicated resources for the Definitive Feasibility Study (DFS) so that the project can be designed and evaluated at a mining rate of about 800,000tpa.

https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=274913036

I have been warned. A few times I posted without a link. I hope I do not get excited and do it again by accident. A real calamity for sure. The low info boys and girls would report me for sure....................Sorry low info boys and girls.................

Expand

Psssst FILTHY Picture Picture of a dirty mine............

Life is so unfair, some of us will make a ton of posts and some of us will make a ton of money. But like goes on....................

COMMUNICATIONS) & Dietrich Wanke (EUR AUSTRIA DIRECTOR) /at the Wolfsberg Mine. 13.04.2018

Aus dem Beitrag: Kapitalmarkt @LinkedIn

http://photaq.com/page/pic/71592/eu...ke_eur_austria_director_at_the_wolfsberg_mine

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Last 2.6¢		Change 0.001(4.00%)		Mkt cap ! $57.32M

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2.5¢	2.7¢	2.5¢	$10.82K	412.1K

Next Week News Release on Lithium Update?, page-4

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