European Lithium Limited (ASX: EUR) has been placed in a trading halt on the Australian Securities Exchange on the 28th of April 2021. This announcement came as the company is in the process of finalising a material announcement to the market which is expected to be released later that day.
European Lithium has been involved in the development of the Wolfsberg Lithium Project in Austria, where the company is working towards the construction of a lithium mine end to end supply chain. European Lithium also has an exploration program in progress across four properties, the Mount Stenne, Lassach, Zajack and Trofaiach projects.
This trading halt will be in place until the earlier of the announcement or the commencement of trading on the 29th of April 2021. The company has requested the trading halt in order to ensure a fair and orderly release of announcements to the market.
European Lithiums’ Wolfsberg Lithium Project is a fully integrated mine end-to-end supply chain, with strategic international partnerships and strong government support. The Wolfsberg project is a long-term secure infrastructure in one of Europe’s premier lithium regions, providing a stable and scalable platform to tap into Europe’s growing electric vehicle market.
It can be assumed that the material announcement to be released by the company in relation to the trading halt, is related to the advancement of the Wolfsberg Lithium Project. European Lithium aim to become a major player in the European lithium supply chain and this announcement may be the beginning of this journey.
Shareholders and those interested in the European Lithium ASX: EUR will have to wait until the material announcement is released following the conclusion of the trading halt to gain further insights into the companies plans moving forward.
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