European Lithium Limited

About European Lithium

European Lithium is a listed exploration and development company (ASX: EUR, FRA: PF8, OTC-QB: EULIF) headquartered in West Leederville, Australia. Its full focus is on the Wolfsberg lithium project in Carinthia, Austria, 270 km southwest of Vienna, which is operated through the Austrian subsidiary ECM Lithium AT GmbH. The project is a hard-rock lithium deposit (spodumene) with a history of exploration and a JORC resource, as well as further exploration potential. A positive prefeasibility study (PFS) supports planned sales of lithium hydroxide into an integrated European battery supply chain. The company aims to be the first local lithium supplier for European battery manufacturers and the electromobility sector. In addition to battery applications, lithium is also used in glass and ceramics manufacturing, aluminium smelting, lubricating greases, metallurgical powders, polymers, as well as specialty salts and pharmaceuticals. Its location near road and rail infrastructure enables supply to the major lithium-consuming countries of Europe.

Site

West Leederville, WA

Processes

Lithium exploration and project development (Wolfsberg lithium project, hard-rock lithium)

Materials

Lithium (spodumene/lithium hydroxide raw material), Spodumene (hard-rock lithium), Lithium hydroxide

Certificates

ASX Corporate Governance (4th edition), ISO 9001

Industries

Mining/Raw materials, Battery industry, Electromobility/EV, Glass and ceramics, Pharmaceuticals/Specialty salts

1. 01

   Exploration (historical: mapping, 9,940 m³ of trenches, 17,000 m of diamond

2. 02

   Preliminary and scoping studies

3. 03

   Mining licence and project development

4. 04

   Prefeasibility study (PFS) for lithium hydroxide

5. 05

   Planned sales into an integrated European battery supply chain

Raw Materials and Processes

Sites

Quality and Standards

European Lithium ensures corporate quality through compliance with the corporate governance principles and recommendations (4th edition) of the ASX Corporate Governance Council as well as comprehensive policies (risk management, whistleblower, anti-corruption). Certifications according to ISO standards are not documented.

Project History

1. 1981

   Deposit discovered by the Austrian state-owned company Minerex; extensive exploration with mapping, 9,940 m³ of surface trenches, 17,000 m of diamond drilling and 1,400 m of underground development drives.

2. 1987

   Completion of a preliminary study (prefeasibility study) following extensive exploration.

3. 1988

   Due to low lithium demand, the Austrian government decides against development; Minerex is closed, the project passes to Bleiberger Bergwerksunion (BBU); successful trial mining by Boliden Contech.

4. 1991

   BBU is closed, the project is sold to Kärntner Montanindustrie GmbH (KMI), which maintains the licences.

5. 2011

   KMI receives the mining licence; GSM and Exchange Minerals acquire the project through their joint subsidiary ECM Lithium AT GmbH for €9.7 million plus 20% VAT.

6. 2013

   Two 500-tonne bulk samples are taken; additional drilling and a scoping study (expenses to date €1.83 million).

7. 2014

   GSM shareholders resolve to delist from the ASX and to spin off (demerge) the project; European Lithium is separated from GSM in November.

8. 2016

   In May, signing of a binding term sheet for a reverse takeover with Paynes Find Gold Limited; relisting on the ASX in September (EUR); listing in Frankfurt in October (FRA: PF8).

9. 2017

   Listing on the Vienna Stock Exchange in October (VSE: ELI).

10. 2018

    Awarded 'Most Popular Company for July 2018' in the energy and environment sector of the Economic Forum.

11. 2022

    First Berlin rates EUR as Buy with a price target of €0.17.