Placement to raise proceeds of $7.05million (before expenses);
EUR continues stakeholder consultation in respect to Pilbara tenement E47/4144 and areas of existing or intended infrastructure;
COVID-19 pandemic and government enforced rules related to international travel in particular, continues to impact operations and force EUR to observe closely any changes in government restrictions in Europe, Austria specifically and Australia;
Due to the Company’s strict COVID safe rules and other mitigation measures, no COVID-19 incidents or cases were reported by staff and contractors since March 2020. The Company has continued operations in Austria despite raising incident numbers in the general public, COVID-19 rules have been tightened during Q1/2021 within the European Union;
Tender process for the drill holes deeper than 300m was successful, despite numerous drilling contractors remain in lockdown, the Company mobilised the 1st drill rig and completed drilling of 3 holes at a total of ~900m;
2nd drill rig to be mobilised in Q2/2021 to fast-track the drilling program;
Dorfner/Anzaplan has been reengaged and commenced locked cycle tests, final report will be published once results are received and processed; and
GREENPEG (EU-funded) supported infield and underground work continues.
Subsequent to quarter end, placement to raise proceeds of approximately $7 million (before expenses).
EUR completes initial Tenement Application Compliance in respect to E47/4144 with the regulatory application process progressing in compliance with the WA Mining Act.
COVID-l9 pandemic and government enforced rules, related to international travel in particular, continues to impact operations and force EUR to observe closely any changes in government restrictions both in Austria and Australia.
Company has continued operations in Austria but some restrictions have been reinforced, which reduced operational activities as reported for the previous periods.
Tender process for the drill holes deeper than 300m has continued, numerous drilling contractors remain in lock down.
Dorfner/Anzaplan lock cycle tests to recommence, the final report will be published once results are received and processed.
GREENPEG (EU-funded) supported infield and underground work has commenced.
$2.1M in funds received by way of a share placement (Placement); Strongly supported by quality Institutional and Strategic Shareholders; Key development activities to be funded by the capital raising include: Progression of the Definitive Feasibility Study for the Wolfsberg Lithium Project; Metallurgical test work to confirm end-products for key customers and markets; Progression of permitting and approvals required to begin construction; Advance discussions with offtake and financing partners; Redeem 500 outstanding Winance notes.
As part of the Company’s strategic engagement with Talaxis, a global leader in EV technology metals project development, EUR has appointed Mr Kimon Gkomozias as Executive Director. Kimon will drive the Company’s financing efforts and identification of strategic development partners for the Company’s Wolfsberg Lithium Project in Austria. As part of the appointment, Company intends to complete a placement of AUD$2m at 30.045 with a l for 4 Option ($0.05, 31 July 2022).