EUR european lithium limited
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....according to the local authorities / media, the...

  1. Gartenfan
    576 Posts.
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    11/06/25
    16:31
    Post #: 79394887
    ....according to the local authorities / media, the authorisations to open the mine have not even been submitted...so how can it be "fully permited" ?

    https://noah.dk/sites/default/files/2024-12/Notification%20letter%20Nasdaq%202025-11-27_0.pdf


    Notification about incorrect information from Critical Metals CorpThe following letter is sent on behalf of NOAH Friends of the Earth Denmark, Friends of the EarthEurope, European Environmental Bureau, GLOBAL 2000, Mineral Policy Institute and theConservation Council of Western Australia. For the benefit of the public, the authorities in the U.S.,Austria, Australia, and Greenland, and possible future stockholders in Critical Metals Corp, weformally submit documentation to Nasdaq on the dissemination of incorrect information by CriticalMetals Corp.In several news releases, issued by the Australian-American company Critical Metals Corp, whichis registered at Nasdaq (Nasdaq: CRML), the company claims that its Austrian Wolfsberg LithiumProject is the first fully permitted mine in Europe. This claim is repeated on November 26, 2024,

    November 14, 2024    ,September 4, 2024,July 23, 2024,July 9, 2024,June 28, 2024,June 18, 2024,
    June 13, 2024    ,June 5, 2024,May 27, 2024,April 22, 2024,andFebruary 27, 2024.
    However, the Wolfsberg Lithium Project is far from fully permitted.    InaRegistration Statement
    No.    333-278400, filed with the U.S. Securities and Exchange Commission on May16, 2024,
    Critical Metals Corp states (p. 32) that    “We will be required to obtain governmental permits and
    approvals to conduct development and mining operations, a process which is often costly and    time-
    consuming. There is no certainty that all necessary permits and approvals for our planned
    operations wi    ll be granted.”And furthermore, on the same page:“For example, in addition to the
    permits that we have been issued to date, we are required    to obtain other permits and approvals
    before construction or operations related to, zoning, rezoning, construction mining, mineral
    concentration and chemical manufacturing.”    In spite of this statement to the U.S. Securities and
    Exchange Commission, Critical Metals Corps has told its current and possibly future stock holders
    in    newsreleases at least two times before andtentimes after the issuing of the statement that the
    company has all the necessary licenses.
    The fact that Critical Metals Corp    stilldoes not hold all the necessary permits, was confirmed once
    again    by the companyitselfin itsrecently releasedannual reportfor 2024, where it is clearly stated
    (p.13) that    some permits are missing:“For example, in addition to the permits that have been
    issued to date, we are required to obtain other permits and approvals before construction or
    operations related to, zoning, rezoning, construction mining, mineral concentration and chemical
    manufactur    ing.”
    That permits are missing is confirmed    by Stephan Trittner,a spokespersonfor The Austrian Federal
    Ministry of Finance, in a    responsedated November 12, 2024, to a request by Anna Leitner from
    GLOBAL    2000 (regarding thecorrespondenceand relevant contact details, please see ANNEX 1
    enclosed in the contact mail    ):“Für den Fall, dass keine Umweltverträglichkeitsprüfung
    durchgeführt werden muss, sind für einen Abbau der Lithiumlagerstätte weitere Genehmigungen
    (auch nach dem Bergrecht) erforderlich, z.B. die    Genehmigung eines Gewinnungsbetriebsplanes
    bzw. die Bewilligung von Bergbauanlagen.    Derzeit liegen der Montanbehörde keine Anträge in
    diesem Zusammenhang vor.“
    The administration of the Wolfsberg Lithium Project has been criticized    for market abuse and
    manipulation    in the past,and in 2020, 2021 and 2022, the then owner of the project, European
    Lithium, whose management team is almost identical to    Critical Metals Corp’s,wasfined byThe
    Austrian Financial Market Authority (FMA)    .In 2020, the fine wasEUR 60,000for abreach against
    the Austrian Market Abuse Regulation,    in 2021, it was EUR160,000 for abreach against the ban on
    market manipulation    , and in 2022, it was EUR 122,850 for abreach of ad hoc reporting obligations.
    European Lithium’s business practices have    alsobeen a subject of interesttothe Austrian
    mainstream press, and on August 3, 2024, Wiener Zeitung published    this article, describingthe
    company’s    practices.
    Pursuant to section 67 of Greenland’s Act on Mineral Activities, a licensee, individuals owning orexerting decisive influence over the licensee and members of the licensee's management, includinga board of directors, an executive board, a supervisory board or similar governing body, must nothave been convicted of or accepted a fine or other penalty or sanction in the last four years for,among other things, bribery, fraud or cartel operation. Hence, we expect that Critical Metals Corpswill be prohibited by the Greenlandic authorities from taking control of the Kringlerne/KillavaatAlannguat mining project until May 2026 due to FMA’s fine against European Lithium in 2022,and if Critical Metals Corps is sanctioned for occurrences described in this notification, for the nextfour years.W


    EUR Price at posting: 4.1¢ Sentiment: None Disclosure: Held
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