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European Lithium ( (AU:EUR) ) just unveiled an update.
Critical Metals Corp has executed a non-binding term sheet to form a 50/50 joint venture with Saudi-based industrial conglomerate TQB to build a rare earth processing facility in Saudi Arabia, securing 100% offtake from the Tanbreez project, including the final 25% of concentrate. The move substantially enhances the development and commercialization outlook for Tanbreez, and, by extension, materially underpins the value of European Lithium’s 44.98% shareholding in Critical Metals, with that stake currently marked at about US$915 million, subject to market fluctuations.
The most recent analyst rating on (AU:EUR) stock is a Hold with a A$0.24 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 is an exploration and development-stage mining company focused on lithium assets in Austria, Ukraine, Ireland and Australia, and also holds a rare earth project in Greenland. The company’s strategic positioning in critical battery metals is reinforced by its significant 44.98% equity stake in Critical Metals Corp, whose flagship projects include the Tanbreez rare earth deposit in Greenland and the fully permitted Wolfsberg Lithium Project in Austria, targeted at supplying European and Western markets.
Average Trading Volume: 15,041,442
Technical Sentiment Signal: Buy
Current Market Cap: A$394.9M
Learn more about EUR stock on TipRanks’ Stock Analysis page.