Peer Comparison, page-5

Interesting to compare EUR with VUL on basics. Different projects i know but still a good comparison.

VUL MC = $1.5 Billion.
15.85 Mt Lithium total resource.
Based in Germany.
Low Opex.
High Capex $473 Million Euros for Phase1 production using Geothermal Green energy.
PFS completed.
1st Offtake agreement signed with LG.
1st production slated for 2024
Cash = $114 Million.


EUR MC = $72 Million.
10.98 Million t resource with potential to double resource.
Based in Austria.
12 to 25 yr mine life.
PFS completed DFS underway.
$100 Million already spent on project by previous owners , reducing CAPEX.
1st production slated for 2023.
Offtake discussions underway with 4 potential European buyers.
Cash = $6.5 Million.




EUR looks like a winner with a low MC currently 1/20th that of VUL and with assay results pending and the potential to double the current resource/ The potential here for a massive rerate in coming months is very high.