Ann: EUR to Finalise Metallurgical Testwork and Progress DFS, page-32

Let medescribe why I'm a little pissed off about what's going on around EL and in themeantime (I have too) you could make a lot more money somewhere else,....
You are right with theclaim that many people lost a lot of money with lithium explorers in 2020,because the lithium price is in the basement and is only now rising again....
However, this ismainly true for companies in Australia, as you are a mining nation and havecountless explorers.
As I wrote before,there are 3 big lithium projects in Europe and everyone says they want to bethe first.
-European Lithium
-Vulcan Energy
-European Metals
If you look at thehistory, El was the most developed project of the three until 2019. Since2020/21 it was overtaken by the others because the others kept working despitelow lithium price and Corona!!!!
...please compareyourself the share prices and news of the 3 companies

The hope of manyEuropeans was good for EL at that time, because everything sounded good andconclusive.
There was even, as itis appropriate for a company that wants to produce in Austria and wants toconvince European shareholders, on the homepage a German translation of themessages.
Have a look at thepage, there you can choose the languages German and English.

https://europeanlithium.com/ankuendigungen-announcements/

Since the end of2019, this was completely stopped, at the same time as they announced then thatthey are working intensively on the DSF and the most important results ofDorfner will be published within 2 months. All of this had also already beenpaid for.

https://wcsecure.weblink.com.au/pdf/EUR/02143590.pdf

" The Companywill update the market once Dorfner complete the full and final report which isanticipated within 2 months. This report together with all other work will becollated and used to prepare the final DFS."

The second thing thatis very bad in the trust of the company was the following announcement from12/30/19

https://wcsecure.weblink.com.au/pdf/EUR/02189628.pdf

Please read itagain.....
- The Debt Facilityis for EUR7,500,000, with drawdown to occur as required
- The Lenders name isH120 AG, a Switzerland incorporated entity
- The Debt Facility isrepayable in full on maturity being 2 years from drawdown
- Interest of 5.0% perannum is payable on a quarterly basis in arrears
- Helvetican toappoint a Board member to the Company on 1st February 2020
- The Debt Facility issecured against the Company's Wolfsberg Lithium Project in Austria
- The Company hasagreed to issue Helvetican (or Nominee) 40,000,000 unlisted options with anexercise price of $0.10c each that can be exercised on or before 30th June 2020and 30,000,000 unlisted options with an exercise price of $0.15c each which canbe exercised within 12 months of signing the binding terms sheet.

How can it be that onecloses a very good contract with a credit company (Helvetican) and celebratesit as a good breakthrough and then it does not come about, but this was neverofficially admitted.
... had to borrowexpensive money from the old credit company Winance, at totally bad interestrates.
.... note: the bankalways wins!

What happened to thecelebrated deal with Talaxis ?

https://wcsecure.weblink.com.au/pdf/EUR/02238872.pdf

-Strategic engagementwith Talaxis, a global leader in EV technology metals project development
- Talaxis to supportwith completing the DFS for the Wolfsberg Lithium Project
-European LithiumBoard to be strengthened with the appointment of Talaxis MD DanielMamdou-Blanco as a Strategic Advisor. Mr Mamadou-Blanco is a highly experiencedmining and finance executive who has previously held senior executive positionswith Deutsche Bank, Goldman Sachs and Nomura International.
- Talaxis to provideservices to European Lithium including managing and establishing commercialrelationships, contract negotiations and strategic market research.

..... Have you heardanything positive about Talaxis since then?
Except that they costmoney again!
Why did you actuallyget your own management the salaries, if you still need consultants, but as Ithink they have also done nothing?

Now in January comesa capital increase where one throws again 20 percent more shares on the market!
...of which 2 millionsince Q3 2020 for lack of interest to the 5 X was spared

https://hotcopper.com.au/threads/ann-extension-to-closing-date-of-share-purchase-plan.5848508/

8 January 2021
Extension to ClosingDate of Share Purchase Plan
European LithiumLimited (ASX:EUR, FRAF8, VSE:ELI) (EUR or the Company) announces an extensionto the original proposed closing date of the share purchase plan (SPP) asannounced on
23 September 2020,
6 October 2020,
30 October 2020,
17 November 2020 and
December 3, 2020.
The Company remindsbeneficial holders whose shares are held through a custodian and who wish toparticipate in the SPP to contact their custodian. The new proposed closingdate of the SPP is now Friday 22 January 2021 as outlined in the table below:....look at PDF!

How long do you thinkthe new, little money will be enough to
- pay debts
- pay salaries of themanagement
-take care of Elproject in Austria and
- New Gold Project inAustralia?
.
Tony Sage is, in myopinion, the head of too many companies.

https://www.businessnews.com.au/Person/Tony-Sage

You can not dance onso many weddings, what you can see with Tony Sage's own company, Cyclon Metals(ex Cape Lambert), which are suspended since 16.10.20 by the ASX from trading
......this of coursedoes not please the shareholders.....
And the bosses arestill getting high salaries for it!!!

https://mailchi.mp/1f56fda79df8/cle-announcement-quarterly-report-sep-4690746?e=1b5f066564

"In accordancewith ASX Listing Rule 5.3.5, payments to related parties of the Company andtheir associates during the quarter totalled $257k relating to the ExecutiveDirectors salary and Non-Executive Director fees"

So let's summarize
- many promises foryears
- no facts delivered
- bounced funding from30.12.20
- Management oftennegative in Australian press and dances on too many weddings / companies
- is very poorcompared to the two competitors ( Vulcan Energy/ European Metals) on a year onyear basis
-2020 was a non eventyear

Do you think managersof VW/ Tesla/ BMW/ CATL or the politicians who provide funding don't take acloser look at a company like EL and their history or negotiating partners (Tony Sage).....?

I still keep myfingers crossed and wish everyone success with their choice of shares.