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EUROPEAN LITHIUM LIMITED, page-1628

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jefferies2

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18/08/22

16:26

Post #: 63194921
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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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No doubt the loan of EUR shareholders' funds to Cyclone was legal. What I think is an issue is that this loan was on top of a previous loan, that had not been paid back by the due date.

EUR Price at posting: 8.4¢ Sentiment: Hold Disclosure: Not Held
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Last 3.8¢		Change 0.000(0.00%)		Mkt cap ! $53.12M

Open	High	Low	Value	Volume
3.7¢	3.8¢	3.7¢	$35.23K	950.5K

Buyers (Bids)

No.	Vol.	Price($)
2	220819	3.7¢

Sellers (Offers)

Price($)	Vol.	No.
3.8¢	121287	3

View Market Depth

No.	Vol.	Price($)
2	220819	0.037
7	492145	0.036
7	131570	0.035
5	187072	0.034
3	67782	0.033

Price($)	Vol.	No.
0.038	121287	3
0.039	256500	2
0.040	159000	3
0.041	293884	4
0.042	497804	3

Last trade - 15.46pm 27/09/2024 (20 minute delay)

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EUROPEAN LITHIUM LIMITED, page-1628

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EUROPEAN LITHIUM LIMITED, page-1628

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