PR buildup of CFE's holding in European Lithium. Just the...

PR buildup of CFE's holding in European Lithium. Just the groundwork for the big news which will be coming soon to a news producing agency near you! PNE stock will disappear just as soon as the back door listing is announced and ASX has the new stock listing...................And CFE is the largest owner....................And DLC is the second largest owner.........


Paynes Find Gold Ltd a step closer to finalising lithium acquisition

Monday, June 06, 2016 by Proactive Investors

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Paynes Find Gold Ltd (ASXNE) has completed its due diligence ahead of its proposed acquisition of a JORC compliant inferred resource of 3.7 million tonnes grading 1.5% lithium.

Paynes is now seeking shareholder approval to acquire European Lithium Limited, the 100% owner of the Wolfsberg Lithium Project in Austria.

The project is located 40 kilometres from the Samsung battery plant in Gratz, Austria.

There are granted mining leases over 11 mining areas within the Wolfsberg project.

Extensive previous exploration completed on the project will allow for a planned production profile of 15-20 months from acquisition.

Paynes' will look to receive additional approval from shareholders at the upcoming meeting to raise $6 million to $9 million.

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