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European Lithium ( (AU:EUR) ) has provided an announcement.
European Lithium Ltd has successfully sold 3.03 million shares of Critical Metals Corp to a US institutional investor, raising US$50 million. This transaction, alongside Critical Metals Corp’s US$50 million private placement, will support the development of the Tanbreez Rare Earth Project in Greenland. The capital raising reflects strong investor confidence in Critical Metals Corp’s strategic portfolio of critical mineral assets. European Lithium’s significant shareholding in Critical Metals Corp is valued at approximately US$1.2 billion, highlighting a discrepancy with its current market capitalization, which the company aims to address through strategic options.
More about European Lithium
European Lithium Limited is an exploration and development stage mining company focused mainly on lithium, rare earth, precious metals, and base metals in Austria, Ireland, Ukraine, and Australia.
Average Trading Volume: 11,114,820
Technical Sentiment Signal: Buy
Current Market Cap: A$700.5M
For an in-depth examination of EUR stock, go to TipRanks’ Overview page.