Research Report – First Berlin Equity Research Update

2018-09-18T14:48:25+00:00 September 18th, 2018|Company News, Research Reports|

First Berlin Equity Research has published an updated research report that maintains its recommendation to BUY at an increased price target of € 0.22. It highlights that DFS funding is secured and a likely shift in the main listing to Vienna.

The report states:

European Lithium (EUR) has announced that it has secured AUD10m in financing from the investor MEFI L.P. (Magna) of which AUD2.5m is available for immediate drawdown. The money will be used to finance the definitive feasibility study (DFS) of the Wolfsberg Lithium Project, which is expected to be completed in April 2019. We expect these funds to strengthen EUR’s position in ongoing negotiations with potential offtake partners.

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Research Report – First Berlin Equity Research Update

2018-05-24T11:37:50+00:00 May 23rd, 2018|Research Reports|

First Berlin Equity Research has updated its recommendation to BUY with a price target of € 0.19. It believes there will be scope to raise this price target, if, as it expects, European Lithium raises the measured indicated part of its JORC resource to over 10m tonnes by the end of this year.

The report states:

Since we published our initiating coverage study on 7 March, European Lithium has published a preliminary feasibility study (PFS) of the Wolfsberg project, released drilling results for Zone 2 of the deposit, and announced the promotion of Dietrich Wanke from General Manager to CEO.

Since the publication of the PFS, discussions with potential partners have intensified and management now expects that the most likely financing solution for the definitive feasibility study and bringing the mine to production is a partnership with/takeover by an industrial lithium user.

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Research Report – First Berlin Equity Research

2018-05-24T11:38:50+00:00 March 8th, 2018|Research Reports|

European Lithium is well placed to supply European battery megafactories.

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