Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
European Lithium ( (AU:EUR) ) has issued an update.
European Lithium Limited reported significant progress in its quarterly activities, including the sale of CRML shares raising A$5.2 million and the completion of a 2,500m resource upgrade diamond drilling at the Tanbreez project. The company also mobilized exploration crews for Irish Lithium and completed planning for the Wolfsberg Project’s energy supply corridor. Following the quarter, additional CRML shares were sold, raising approximately A$183 million, enhancing the company’s cash position to A$325 million. The company also announced a share buyback and further diamond drilling at Tanbreez, alongside CRML’s amended agreement to acquire a controlling interest in the Tanbreez Project and a letter of intent for an offtake agreement with Ucore Rare Metals.
The most recent analyst rating on (AU:EUR) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on European Lithium stock, see the AU:EUR Stock Forecast page.
More about European Lithium
European Lithium Limited operates in the mining industry, focusing on the exploration and development of lithium projects. The company holds multiple exploration licenses in Austria, targeting lithium occurrences in the Styria mining district. Their projects include the Bretstein-Lachtal, Klementkogel, and Wildbachgraben, which are strategically located near the Wolfsberg Lithium Project.
Average Trading Volume: 15,080,161
Technical Sentiment Signal: Buy
Current Market Cap: A$319.1M
See more insights into EUR stock on TipRanks’ Stock Analysis page.