- European Lithium (EUR) enters a trading halt ahead of an upcoming capital raise
- So far, the company has released no information on how much it plans to raise or where the funds will be spent
- EUR shares will be paused until Thursday, April 7, or when further details about the raise are reported
- European Lithium is a mining and exploration company with a focus on its Wolfsberg lithium project in Austria
- European Lithium last traded at 16 cents per share
European Lithium (EUR) has entered a trading halt while it prepares for an upcoming capital raise.
The company has not released any details about how much it plans to raise or what it will use the funds for to the market.
Under the halt, company shares will be paused until Thursday, April 7, or when further details about the raise are reported, whichever one comes first.
European Lithium is a mining and exploration company with a focus on its Wolfsberg lithium project in Austria.
The aim of the project is to be the first local lithium supplier into an integrated European battery supply chain.
On Friday, the company said it will be releasing an update on the Wolfsberg definitive feasibility study later on that day, however, it has not released anything since.
The Wolfsberg Project lies 270 kilometres south of Vienna and consists of 22 original and 32 overlapping exploration licences.
Late last year, European Lithium signed a memorandum of agreement (MOA) with Traxys Europe S.A for the development of the Wolfsberg Lithium Project.
The multi-tiered, non-binding MOA will support the development and commercialisation of the Austrian project.
Under the deal, the two parties will negotiate suitable commercial terms for a product offtake and marketing agreement for European Lithium’s lithium hydroxide and any by-products from the Wolfsberg Project.
European Lithium last traded at 16 cents per share.