@Carbondriver
Thank you for your interesting comment, which I would like to answer.
It seems to me that you have been well informed by the management (TS?), as you write, but I suspect you are just the mouthpiece and have not researched the facts yourself.
1) It is true that BMW is not the only buyer in Europe of lithium, but it would be a very big loss of confidence, should ....as I write should and not will...BMW not make a firm contract with EL.
Then BMW would be after the MOU with Traxys from 22.12.21 the Second company that jumps off
https://wcsecure.weblink.com.au/pdf/EUR/02470050.pdf
EUR agrees to pursue a cooperationand offtake partnership with Traxys to develop the Wolfsberg Lithium Project;
• Traxys to retain exclusivity until end of first quarter 2022 to finalise offtake agreement with the Company;
• Traxys will aim to leverage its banking relationships to support EUR to structureappropriate project financing and provide working capital to the project; and )
• Traxys to consider a directinvestment in the Company
European Lithium Limited
+++++++++++++++++++++++++++++++++++++++++++++++++++++
2) You are right, that the DFS is created neutrally by the DRA...
3) You write:
„You will remember the agreement with Glock, the land owner,reported on 28 May 2021
which takes the mine entrance issues of the table. Why do youcontinue to confuse investors here with your comments?“
Unfortunately, I can't agree with you there.
You write the thing with the mine entrance is with theannouncement of 28.05.2021 from the table.
Let's take a look at the following announcement/media reportfrom 28.05.2021
https://wcsecure.weblink.com.au/pdf/EUR/02379237.pdf
Settlement of Legal Disputes
HIGHLIGHTS• ECM Lithium ATGmbH, the 100% subsidiary of European Lithium Limited has
reached an agreement with Glock Gut-und Forstverwaltung who is the land
owner of ECM’s mining and exploration licenses,
• An independent expertclarified there was never a risk to ground and spring
water sources to the nearby communities in Styria,
• With this settlementagreement EUR expects the Definite Feasibility Study to be
completed in 2021 or early 2022
European Lithium Limited (ASX:EUR, FRA
F8, VSE:ELI)(European Lithium or the Company) is
pleased to advisethat it’s 100% owned subsidiary ECM Lithium AT GmbH, the operating group
company of EuropeanLithium in Carinthia, Austria, has today reached an agreement with
Glock Gut-undForstverwaltung GmbH as the owner of the properties to which the mining
licenses and theexploration licenses of ECM Lithium AT GmbH relate and where exploration
activities aretaking place and lithium-bearing ore shall be mined in the future. This alsobrought
legal disputes to anend.
In this context, it was clarifiedby an expert that there was never a risk to the groundwater andspringwater of nearby communities in Styria, as the lithium deposit is located on theother side
of the Koralpe andtherefore there are no adverse effects.
Based on the agreement with GlockGut-und Forstverwaltung GmbH, European Lithium Limitedexpectsthat the final feasibility study will be finished in 2021 or early 2022 andthat therefore the
setting up of themine could start between late 2022 and early 2023.
+++++++++++++++++++++++++++++++++++++++++++++++
So there is only that they have eliminated the problem, butnot under what conditions! In addition, there is still that the DFS should beready in early 2022!
So now we come to the problem / inconsistency of the topicmine entrance.
Why says on 09.06.2021 the lawyer of EL H. Ragger thefollowing to the newspapers
https://unterkaerntner.at/wirtschaft/ueberregional/european-lithium-einigt-sich-mit-glock-eingang-des-abbau-stollens-wird-an-andere-stelle-verlegt/
The dispute between the mining company and Glock Gut- undForstverwaltung GmbH, which had been smoldering for years, has been settled. Inreturn, European Lithium will build a new entrance to the adit.
reached an agreement with Glock Gut- und ForstverwaltungGmbH. To achieve this, it was agreed that the main entrance of the mine will bemoved away from Glock's property. European Lithium attorney Christian Raggersays, "Two locations are being considered for the new entrance, andnegotiations are ongoing."
Disagreements between the mining company and Glock haddragged on for years. In 2011, a contract had been signed that allowed EuropeanLithium to enter the Glock site, but was withdrawn by Glock in 2016. This ledto arbitration, which European Lithium won - but the relationship stillremained tense. In addition, the new entrance is to be inserted into the landscapein such a way that it is not visible from the wine plain and the touristfacilities there.
++++++++++
Why on 26.06.2021 the Austrian head of EL H. Wanke says thefollowing to the newspapers?.:
https://www.kleinezeitung.at/wirtschaft/5997770/LithiumAbbau-in-Kaernten_Verschiebungen-Klagen
Wanke, managing director of European Lithium GmbH, is nowtalking about a start in 2024 at the earliest, but even that is "highlyspeculative," as he told the Kleine Zeitung. Corona must serve as anexplanation for the delays.
A side issue for many years, however, was a legal disputewith the Glock Estate and Forestry Administration, which owns the property.This has now been settled. However, as a consequence, further tunnel entranceshave to be created, which will cost several million euros.
And in the meantime, there was also resistance to themega-project, because there were fears about the quality of the drinking waterin the area of the mining site. And because all this was not alwayscommunicated quite so transparently, the Financial Market Authority in Austriahas just imposed a fine of 160,000 euros. European Lithium has namely alsolisted on the Vienna Stock Exchange in the form of a brief guest appearance."Violation of the prohibition of market manipulation" is the verdictof the FMA, which considered European Lithium's information policy to bemisleading for shareholders.
+++++++++++++++++++++++++++++++++++
Why does the neutral study of 18.03.2022 by First Berlin sayon page 5
http://www.more-ir.de/d/23633.pdf
Resolution of dispute with landowner Ahead of publication ofthe DFS management has resolved a dispute with the owner of the land on whichthe WLP is located and also largely allayed the environmental concerns of thelocal communities. The landowner is Glock Gutund Forstverwaltung GmbH (GlockLand and Forestry Administration GmbH), which is controlled by the well-knownpistol manufacturer, Glock GmbH. In 2011 Glock and EUR’s Austrian subsidiary,ECM Lithium, concluded an agreement whereby Glock waived any right to object tothe development of an underground mine on its property. However in 2016, Glockwithdrew its agreement and both parties proceeded to arbitration. A finalsettlement allowing EUR to continue developing the WLP was reached in Q2/21. Inorder to reach this settlement, EUR agreed to construct a new entrance to themine at a location which is still to be determined but which will not be onGlock land. The new mine entrance will be located so as not to be visible fromthe nearby Weinebene, which is a popular recreational and hiking area.
+++++++++++++
Do you now want to claim that the above statemensts regardingmine entrance are manipulated by me or someone else?
Please show me an official statement from EL that, as H.Ragger+ H. Wanke+ First Berlin have found a new mine main entrance.
Question to you:
Why has EL not yet done the following with the money from thelast capital increase as announced : bought land or started drilling in zone 2?
Why is EL/ TS lending money from the last capital increase toanother explorer where he himself is a director?
06.04.2022
https://wcsecure.weblink.com.au/pdf/EUR/02507393.pdf
European Lithium Limited (ASX:EUR, FRAF8, OTC:EULIF) (EURor the Company) is pleased to announce that it has received firm commitmentsfrom global institutional and sophisticated investors to raise A$30 millionthrough a placement at A$0.13 per share (Placement Shares). Investors will alsobe issued one option (exercise price $0.18, expiring 31 March 2025) for everytwo shares issued (Placement Options). Funds raised will be used for strategicland acquisition, a resource extension drill program of Zone 2 at the Company’sWolfsberg Lithium Project (Wolfsberg Project or Wolfsberg), stage 1 of projectdevelopment metallurgical test work for by-products from Wolfsberg, SRKconsulting for JORC compliance, for general exploration purposes and workingcapital.
On 20 June 2022, the Company entered into a loan agreementand advanced funds of $500,000 to Cyclone Metals Ltd (ASX: CLE). The loan isrepayable on 30 November 2022 and accrues interest of 5% per annum. On the sameday, the Company entered into a deed of variation in respect to the short termsloan entered into with CLE on 14 December 2021 to extend the repayment date to30 November 2022. Mr Tony Sage is a director of CLE.
4) It is true that there was a court hearing against ashareholder.
I also posted the report about it from the "KärtnerMonat" from February 2022 here.
..... Now it's funny, just because I bring facts and linkshere, you bring me and other users in connection with it.
Unfortunately, I could not yet find an official document ornewspaper report about it in the media, as the matter has ended. Have you one??
One thing I do know and I have already posted here, EL wassentenced on 10.05.2022 by the Austrian stock exchange supervisory authorityFMA (see also penalty payment in the last Q-report because of the Helveticanloan that did not materialize.
I hope the matter is now clarified.
Here again the excerpts from the Kärtner Monat .
"Market manipulation". Also with the
Austrian Financial Market Authority
(FMA) the European Lithium Ltd. is already
known. The company was condemned to two
penalties. The first time in 2020
60,000 euros, the second time last year to
"That was because of late ad hoc reports," saysDietrich.
ad hoc notifications," says Dietrich
Wanke, mining expert and, along with Sage, chairman of the
Chairman of the company's board of directors. Listed
companies have to publish important
publish important announcements by breaking news.
"The delayed announcements
were due to the time difference between
Australia and Austria,"
Wanke said. But this explanation apparently applies
only to the first, the 60,000-euro
fine. This was actually imposed because of
due to a late ad hoc report by the FMA.
issued by the FMA. The second
penalty was imposed "for market manipulation
by dissemination of information
and news that give false and misleading
signals to the market with regard to a financial
sent out to the market
to the market," an FMA spokesman explained on
Inquiry.
7.5 million from Switzerland. Mining
is a risky and cost-intensive business.
business. Millions are poured into the rock
millions into the rock - even before
whether the mountain will become a vein of gold.
gold vein. This is also the case in Wolfsberg. Regularoperation
should have started years ago.
years ago. Already more than a decade ago
the Australians had granted the Carinthian mining industry
the mining rights for
ten million euros. The financing
of the test drillings represents
an immense challenge.
For this purpose, European Lithium negotiated
negotiated in 2019 with a Swiss company
Helvetican for a loan in the amount of
in the amount of 7.5 million euros, part of which will be
partly into the so-called definitive feasibility study of the
of the Koralpen project.
was supposed to. But this study is still
not finished, as Wanke admits. He blames
Corona the blame for this. Once the study is
Once the study is available, it will be used to
450 million euros in total investment
investment. And on a grand scale
from "institutional investors, banks
and private investors. Wanke promises
eight percent return. If it goes well
the mining operation is to run for 40 years.
Loan bounced. But the loan
from Switzerland falls through. The Swiss
withdraw their commitment. And
even though European Lithium had already
already announced the deal on December 30, 2019.
announced the deal. The responsibility for
for the withdrawal of the financial backers will
European Lithium's shareholder, who
who sent the Swiss company an email in February
2020 with allegations about Tony Sage, whereupon
about Tony Sage, whereupon the Swiss
who then got cold feet.
He is said to have sent a similar
May 2020 to the Australian stock exchange
stock exchange in May 2020, a blind copy of which
to the Asian Noble-Group, with which
European Lithium had also negotiated
European Lithium had also negotiated a financial injection.And
this e-mail brings the man, who is a
German citizen, a lawsuit
lawsuit: European Lithium is suing him for
credit damage. The cash injection
of the Noble Group comes to nothing. The trial
last September at the Wolfsberg District Court.
Wolfsberg. The man
admits to having written the e-mails.
For European Lithium the guilt is obvious.
the guilt is obvious. This sees however
witness, who testifies to the loan
with the Swiss, sees it somewhat differently.
a different view: He is a former manager of
European Limited and is familiar with the
the internals surrounding the borrowing
had been. He testifies that the "documents,
that were presented to me and also to the other
Board members suggested" that "there were thesenegotiations going on.
had suggested "that there were these negotiations
exist." This refers to the
credit discussions of European Lithium
with Helvetican. The witness continues
"But there was no conclusion."
In retrospect, it became clear to him
that "they were not nearly as far along with the
far with the negotiations," he testifies,
he testifies. Nevertheless, the
European Lithium announced the deal on Dec. 30
2019.
