If CFE's holding of PNE (LITHIUM LIMITED) is worth 6 million to its shareholders, then PNE's holding of 15.1% should be worth about 3 million. Hard to say right now just what percentage of LITHIUM LIMITED DLC or CFE will own after the deal. But we can hope for the best with the deal going through.
European Lithium to list on ASX
Australian resource and investment company, Cape Lambert Resources
Limited (ASX: CFE) (Cape Lambert or the Company) wishes to announce
that European Lithium Limited (Euro Lithium) is aiming to list on the
Australian Securities Exchange (ASX) by way of reverse takeover with
Paynes Find Gold Limited (Paynes). Please find attached the
announcement released by Paynes to the ASX today detailing the terms
and conditions of the transaction.
Cape Lambert owns 26.2% of the pre-raising capital in Euro Lithium. Euro
Lithium’s Wolfsberg lithium project is located in Carinthia, 270 kilometers
south of Vienna, Austria.
Cape Lambert Executive Chairman, Mr Tony Sage, said “Cape Lambert is
pleased a transaction has been done with European Lithium given it is a
quality asset and at a time when lithium is in high demand. I am also
pleased that this unlocks approximately $6m of value at the proposed
Paynes listing price for Cape Lambert shareholders.”
Yours faithfully
Cape Lambert Resources Limited
