DAX+0,86 % EUR/USD-0,42 % Gold-1,07 % Öl (Brent)+1,66 %

EANS-News European Lithium Limited / QUARTERLY ACTIVITIES REPORT AND APPENDIX 5B FOR THE QUARTER ENDING 30 SEPTEMBER 2019 - ATTACHMENT

Nachrichtenagentur: news aktuell
31.10.2019, 14:25  |  562   |   |   
--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is responsible for the content of this announcement.
--------------------------------------------------------------------------------

Quarterly Report

West Leederville - The Board of European Lithium Limited (ASX: EUR, FRA: PF8,
VSE: ELI, NEX: EUR) (the Company) is pleased to present its activities report
and Appendix 5B for the three months ending 30 September 2019.


Zwtl.: SUMMARY OF KEY UPDATES



* Dorfner/Anzaplan continued metallurgical test work and pilot processing
expected to be competed in Q4 2019
* Summer drilling program has been completed. Core logging and assay testing on
progress to convert JORC resource Inferred into Measured and Indicated
category and upgrade resources to 10.98mt
* Multiple pegmatite intersections in shallow drill holes of phase 1;
intersections widths up to:


o P18-13 - 2.19 to 4.1m @ 1.5% Li2O
o P18-22 - 0.8 to 1.17 m @ 0.7% Li2O
o P18-26 - 0.8 to 2.0m @1.0% Li2O
o P18-28 - 2.05 m @1.5% Li2O



CORPORATE MATTERS

Placement
On 10 May 2019, the Company announced that it would be undertaking a placement,
mainly to European based sophisticated investors, at an issue price of $0.09 per
share to raise proceeds of up to EUR1.5million (before expenses) (Placement).
During the quarter, the Company issued 5.3m shares to raise cash proceeds of
$477,000 (before expenses).

Magna Financing Facility
As previously announced, the Company established a A$10m finance facility with
MEF I, L.P. (Magna) of which A$2.5m (1,840,500 convertible notes) was drawn down
on 7 September 2018.
During the quarter, the Company established a new finance facility with Winance
Investment LLC replacing the facility with Magna.
On 13 September 2019, Magna agreed to extend the maturity date of the
convertible notes onissue from 7 September 2019 to 30 November 2019. In
consideration for this extension, the Company issued Magna 1,000,000 fully paid
ordinary shares on 13 September 2019.
During the quarter, Magna converted 150,000 notes and redeemed 434,782 notes
(each with a face value of US$1.10). As at 30 September 2019, Magna had 103,260
convertible notes remaining.

Winance Financing Facility
On 31 July 2019, the Company announced that it had secured an A$10m finance
facility with Winance Investment LLC (Winance) to repay the residual amount
owing to Magna, to fast-track the completion of a DFS at the Company's Wolfsberg
Lithium Project in Austria and for general working capital purposes.
An initial amount of A$2.0m (2,000 notes) was drawn down on 20 September 2019
and a further A$8.0m is available in tranche of A$1.0m each upon full conversion
of the notes from the previous drawdown, subject to a cooling off period.
Full terms and conditions of the convertible securities are included in the
announcement released on 31 July 2019.
During the quarter, Winance converted 160 notes. As at 30 September 2019,
Winance had 1,840 convertible notes remaining.

Capital Movements
During the quarter, the Company issued the following securities:

* 11 July 2019 - 2,000,000 shares issued pursuant to the Placement and 983,548
shares issued to Magna upon the conversion 50,000 convertible notes
* 31 July 2019 - 995,223 shares issued to Magna upon the conversion of 50,000
convertible notes
* 16 August 2019 - 1,016,411 shares issued to Magna upon the conversion of
50,000 convertible notes
* 13 September 2019 - 1,000,000 shares issued to Magna as consideration for the
extension of repayment date of the convertible notes
* 25 September 2019 - 285,714 shares issued to Winance upon the conversion of 20
convertible notes
* 30 September 2019 - 3,300,000 shares issued pursuant to the Placement and
1,999,999 shares issued to Winance upon the conversion of 140 convertible
notes


Please find the full Quarterly Report in the following link: https://
wcsecure.weblink.com.au/pdf/EUR/02167612.pdf



Further inquiry note:
info@europeanlithium.com

end of announcement euro adhoc
--------------------------------------------------------------------------------


Attachments with Announcement:
----------------------------------------------
http://resources.euroadhoc.com/documents/10207074/5/10373652/1/1993261_en.pdf

issuer: European Lithium Limited
Harrogate Street 32
AU-WA6007 West Leederville
phone: +61 8 6181 9792
FAX:
mail: ir@europeanlithium.com
WWW: www.europeanlithium.com
ISIN: AU000000EUR7
indexes:
stockmarkets: Wien, Frankfurt
language: English


Diesen Artikel teilen

Diskussion: European Lithium - (Re)Start einer Resource/Mine im Herzen Europas
Wertpapier

Mehr zum Thema
Klicken Sie auf eines der Themen und seien Sie stets dazu informiert. Mehr Informationen hier.
EuroLithiumEURCapitalTER


0 Kommentare

Schreibe Deinen Kommentar

Bitte melden Sie sich an, um zu kommentieren. Anmelden | Registrieren

 

Disclaimer

Aus der Community
LUS Wikifolio-Index BITCOIN, ETHEREUM & GOLD Index Zertifikat Open-End (LASW)
Chart: arniarni
LUS Wikifolio-Index Performance von Kryptowährungen Index Zertifikat Open-End (LASW)
Chart: arniarni

Meistgelesene Nachrichten des Autors

Titel
Titel
Titel
Titel