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European Lithium raises A$2.1 million for Wolfsberg project as EU kick-starts plan to build battery supply chain

European Lithium Limited (ASX:EUR) (FRA:PF8) (NEX:EUR) (VSE:ELI) has completed a A$2.1 million share placement to progress its Wolfsberg Lithium Project in Austria.

The placement was strongly supported by a number of existing shareholders and new sophisticated and professional investors and investment funds.

Funds raised will be applied to metallurgical test-work of bulk samples from Wolfsberg to qualify product specifications for offtake partners and end-use applications in support of EURs definitive feasibility study (DFS).

Action plan on critical raw materials[hhmc]
EURs strategy to serve Europes pursuit of a cleaner and greener energy future has been enhanced by a strategic engagement with Talaxis Limited and subsequent appointment of Kimon Gkomozias as executive director to lead its development strategy in Europe.

This will assist EUR tap into the European Battery Alliance network, which is estimated to be worth EU250 billion from 2025 onwards.

Gkomozias said: “The European U..

European Lithium Limited (ASX:EUR) (FRA:PF8) (NEX:EUR) (VSE:ELI) has completed a A$2.1 million share placement to progress its Wolfsberg Lithium Project in Austria.

The placement was strongly supported by a number of existing shareholders and new sophisticated and professional investors and investment funds.

Funds raised will be applied to metallurgical test-work of bulk samples from Wolfsberg to qualify product specifications for offtake partners and end-use applications in support of EURs definitive feasibility study (DFS).

Action plan on critical raw materials


EURs strategy to serve Europes pursuit of a cleaner and greener energy future has been enhanced by a strategic engagement with Talaxis Limited and subsequent appointment of Kimon Gkomozias as executive director to lead its development strategy in Europe.

This will assist EUR tap into the European Battery Alliance network, which is estimated to be worth EU250 billion from 2025 onwards.

Gkomozias said: “The European Union (EU) has commenced an ambitious plan to build and reshape its battery supply chain.

“The European Commissions recently announced Action Plan on Critical Raw Materials, is looking at the current and future challenges and actions to reduce Europe's dependency on third world countries, diversifying supply from both primary and secondary sources and improving resource efficiency while promoting responsible sourcing worldwide.

“It contains 30 critical raw materials. Lithium, which is essential for a shift to e-mobility, has been added to the list for the first time.

“EUR is well-timed and well-positioned to benefit from Europes unprecedented need for lithium, contributing to the European integration of the lithium supply chain and capitalizing on the resulting growth of the regional lithium ecosystem.”

Placement details and notes redemption


EURs A$2.1 million share placement at 4.5 cents per share includes a 1 for 4 free attaching unlisted option exercisable at 5 cents on or before July 31, 2022.

In conjunction with the placement, EUR has redeemed 500 convertible notes issued to Winance using A$636,364 from the placement proceeds.

These notes were part of 2,000 convertible notes issued to Winance in March 2020, each with a face value of A$1,000.

More lithium needed by 2030


European Commission vice president (Interinstitutional Relations and Foresight) Maroš Šefčovič has said that a secure and sustainable supply of raw materials is a prerequisite for a resilient economy.

He added: “For e-car batteries and energy storage alone, Europe will for instance need up to 18 times more lithium by 2030 and up to 60 times more by 2050.

“As our foresight shows, we cannot allow to replace current reliance on fossil fuels with dependency on critical raw materials.

“This has been magnified by the coronavirus disruptions in our strategic value chains.

“We will therefore build a strong alliance to collectively shift from high dependency to diversified, sustaiRead More – Source

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Australia

Argonaut Resources directors show faith in company by participating in oversubscribed SPP

Argonaut Resources NL (ASX:ARE) directors have demonstrated their faith in the company’s copper-zinc strategy by participating in the recently closed share purchase plan (SPP).

Independent non-executive chairman Patrick Elliot purchased more than 4.465 million shares at 0.55 cents per share in an indirect interest.

He now holds 5,876,159 shares in that interest with another 20,324,574 held in a separate indirect interest.

Independent non-executive chairman Malcolm Richmond acquired more than 5.454 million shares in a direct interest, increasing the number held in this interest to almost 15 million with another 1 million held in an indirect interest.

Overwhelming response to SPP[hhmc]
The company was overwhelmed by the response to its SPP which closed early and more than twice oversubscribed with the target subsequently increased to $2.5 million from $1.2 million.

Subscriptions in excess of $3 million were received and as a result, the SPP was closed with immediate effect.

Money ..

Argonaut Resources NL (ASX:ARE) directors have demonstrated their faith in the company’s copper-zinc strategy by participating in the recently closed share purchase plan (SPP).

Independent non-executive chairman Patrick Elliot purchased more than 4.465 million shares at 0.55 cents per share in an indirect interest.

He now holds 5,876,159 shares in that interest with another 20,324,574 held in a separate indirect interest.

Independent non-executive chairman Malcolm Richmond acquired more than 5.454 million shares in a direct interest, increasing the number held in this interest to almost 15 million with another 1 million held in an indirect interest.

Overwhelming response to SPP


The company was overwhelmed by the response to its SPP which closed early and more than twice oversubscribed with the target subsequently increased to $2.5 million from $1.2 million.

Subscriptions in excess of $3 million were received and as a result, the SPP was closed with immediate effect.

Money raised under this SPP and from the recently completed $2.7 million share placeRead More – Source

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Strickland Metals shares jump 39% ahead of drilling base metal target near DeGrussa

Strickland Metals Ltd (ASX:STK) shares surged 39% today ahead of its maiden drilling program at the Doolgunna Project, which will include a diamond drilling program that is likely to begin by the end of this month.

As a part of the program, a minimum of four diamond holes will be drilled to a depth of 500 metres to test a VMS target similar to the nearby DeGrussa deposit of Sandfire Resources (ASX:SFR).

Heritage survey[hhmc]
Exploration activity has recommenced on the Doolgunna Project following completion of heritage surveys to allow land access to areas where the company wishes to complete exploration drilling.

The target for drilling is a compelling base metal prospect that exhibits geological characteristics that are interpreted to be similar to Sandfire Resources’ DeGrussa deposit about 30 kilometres to the east of the project.

The prospect has a 3-kilometre-long electromagnetic conductor that lies below an outcropping copper-zinc gossan that has been mapped over a 1.2-kilomet..

Strickland Metals Ltd (ASX:STK) shares surged 39% today ahead of its maiden drilling program at the Doolgunna Project, which will include a diamond drilling program that is likely to begin by the end of this month.

As a part of the program, a minimum of four diamond holes will be drilled to a depth of 500 metres to test a VMS target similar to the nearby DeGrussa deposit of Sandfire Resources (ASX:SFR).

Heritage survey


Exploration activity has recommenced on the Doolgunna Project following completion of heritage surveys to allow land access to areas where the company wishes to complete exploration drilling.

The target for drilling is a compelling base metal prospect that exhibits geological characteristics that are interpreted to be similar to Sandfire Resources’ DeGrussa deposit about 30 kilometres to the east of the project.

The prospect has a 3-kilometre-long electromagnetic conductor that lies below an outcropping copper-zinc gossan that has been mapped over a 1.2-kilometre strike.

Diamond core drilling


The company plans to start the diamond core drilling by the end of this month.

A multi-purpose drill rig has been contracted to enable the minimum planned program wRead More – Source

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Australia

Pan Asia Metals has positive discussions on plans for Thai lithium project

Pan Asia Metals Ltd (ASX:PAM) has had positive discussions with authorities in Phang Nga Province, Thailand, including the provincial government, for its Reung Kiet Lithium Project.

PAM has submitted a presentation covering all aspects of the project including methods of ongoing exploration, conceptual mining and concentrate production, and the potential for downstream value-adding industries in Phang Nga and Thailand.

The presentation and subsequent discussions were aimed at assisting Phang Nga Provincial Government in their considerations for the proposed mining and industrial development areas.

Provincial Government discussions[hhmc]
Pan Asia was recently invited by the chief executive officer of the Phang Nga Provincial Administrative Organisation (PAO), a Phang Nga Provincial Government coordinating body, to represent PAM and the Reung Kiet Lithium Project.

The meeting was also attended by the head of Phang Nga Provincial Industry along with the representatives of the Phang Ng..

Pan Asia Metals Ltd (ASX:PAM) has had positive discussions with authorities in Phang Nga Province, Thailand, including the provincial government, for its Reung Kiet Lithium Project.

PAM has submitted a presentation covering all aspects of the project including methods of ongoing exploration, conceptual mining and concentrate production, and the potential for downstream value-adding industries in Phang Nga and Thailand.

The presentation and subsequent discussions were aimed at assisting Phang Nga Provincial Government in their considerations for the proposed mining and industrial development areas.

Provincial Government discussions


Pan Asia was recently invited by the chief executive officer of the Phang Nga Provincial Administrative Organisation (PAO), a Phang Nga Provincial Government coordinating body, to represent PAM and the Reung Kiet Lithium Project.

The meeting was also attended by the head of Phang Nga Provincial Industry along with the representatives of the Phang Nga Provincial Public Works and Town Planning Office.

Phang Nga Provincial Industry head has been appointed by the Phang Nga governor as chairman of the Phang Nga New Town Planning Committee.

During the meeting, the chairman of the committee conveyed its support for the Reung Kiet Lithium Project.

PAO wants to ensure that the requirements of the Reung Kiet project are incorporated into the town planning committee’s zoning plans to ensure that the project can progress once exploration and feasibility results prove positive.

“Can bring opportunities”


PAM managing director Paul Lock said: “We have been working hard in Phang Nga province and we are very happy with the positive reception that the Reung Kiet Lithium Project is receiving from the Phang Nga Provincial Government and surrounding communities.

“Reung Kiet is strategically located and based on peer feasibility work the project is positioned to potentially be one of the lowest-cost suppliers of lithium chemicals in the global peer group.

“This is a project that can bring substantial opportunities and value to Phang Nga and Thailand.”

Pan Asia is planning its second Reung Kiet drilling program with expectations that this will begin in the coming months following the conclusion of the current Khao Soon drilling program.

Potential cost curve leader


Reung Kiet is a hard rock project with lepidolite rich pegmatites chiefly composed of quartz, albite and lepidolite with minor cassiterite and tantalite as well as other accessory minerals including some rare earth.

Lepidolite does not require roasting and has a suite of by-products which are recoverable at the concentrator and processing stages of the flow sheet.

Peer feasibility work has Read More – Source

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