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3.7¢ european lithium limited

EUROPEAN LITHIUM LIMITED, page-1625

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BRProject

1,871 Posts.

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18/08/22

14:26

Post #: 63191746
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Originally posted by specciemagee: ↑

It is no secret that Sagey's other company, Cyclone Metals, is struggling financially and was loaned the 500k by EUR, which will keep the lights on there for at least the next 3 months. It is all legal and announced to market, so no issues there.

However, the main point some are missing and a reason for keeping CLE alive is that they are a top shareholder of EUR and own 70 million odd shares, which is a good percentage. This is key because TS knows that he must keep a 10% blocking stake or near best effort, to thwart control of any hostile takeover bids in future.
I can sense that once a completed DFS and a BMW binding off take crystalised around early Q4, that things are going to get very interesting.
Possibilities could include EUR is taken over.. or if EUR soars to multiples of the current share price that CLE sell their stake to safe hands so to speak (minus their debt pledged to Winance, and 500k to EUR).

Good luck to all holders.

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Well said. There will need to be restructuring no doubt... but best to focus on getting customers. The path to profitability is clear. Just need to get on with the job.

EUR Price at posting: 8.3¢ Sentiment: Buy Disclosure: Held
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