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European Lithium ( (AU:EUR) ) has provided an announcement.
European Lithium has sold 5 million ordinary shares in Critical Metals Corp. for approximately A$124 million, boosting its cash reserves to about A$322 million while retaining a substantial holding of 48,036,338 CRML shares, currently valued at roughly A$1.23 billion based on recent market prices. The transaction underscores the success of its investment in the Tanbreez rare earth project and provides the company with additional financial flexibility to strengthen its balance sheet, advance core projects, pursue new growth opportunities or potentially return capital to shareholders, while maintaining significant exposure to the critical metals sector through its remaining CRML stake.
The most recent analyst rating on (AU:EUR) stock is a Hold with a A$0.27 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 primarily on lithium assets in Austria, Ukraine and Ireland. The company also holds significant interests in other critical and battery-related metals through stakes in CUFE Ltd (copper, gold and bismuth in Australia’s Northern Territory), MOAB (uranium in Tanzania), Cyclone Metals Ltd (Iron Bear Project in Canada) and a direct 7.5% interest in the Tanbreez rare earth project in Greenland, reflecting a broader strategic focus on critical minerals supply for Europe and allied markets.
Average Trading Volume: 14,674,431
Technical Sentiment Signal: Buy
Current Market Cap: A$463.6M
For an in-depth examination of EUR stock, go to TipRanks’ Overview page.