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European Lithium chairman buys more shares

08:19 29 May 2018
The recently received pre-feasibility study valued Wolfsberg at $441.9 million.
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Sage paid over $76,000 for the share purchases
European Lithium Ltd (ASX:EUR) chairman Tony Sage has recently increased his shareholding in the company.
Sage recently purchased 509,181 shares increasing his total interest in the company to over 7.1 million shares.
READ: European Lithium’s new CEO will guide transition to near-term lithium producer

The company aims to become Europe’s first lithium producer through the development of the Wolfsberg Lithium Project in Austria.
PFS values Wolfsberg at up to $441.9 million

Last month, results from a pre-feasibility study into a mining operation at Wolfsberg assigned a pre-tax net present value (NPV) of up to $441.9 million.
Notably, the valuation was based on only the measured and indicated resource of 6.3 million tonnes at 1.17% lithium oxide.
READ: European Lithium's PFS shows Wolfsberg's economic viability and demonstrates upside

A definitive feasibility study is expected to commence in the September quarter, which could potentially evaluate mining a significantly larger lithium resource.
http://www.*.com.au/companies/news/197771/european-lithium-chairman-buys-more-shares-197771.html