European Lithium Limited (ASX: EUR) is one of the most promising lithium exploration and development companies in Europe. The company is currently active in German lithium exploration and development projects as well as actively exploring opportunities for joint venture projects and partnerships.
Earlier today, the company announced a trading halt in its securities on the ASX market following its request to the exchange for approval to proceed with the final stage of its highly anticipated German lithium exploration and development projects.
The halt in trading is a positive sign for the company as its shares have been rallying steadily over the last few months with investors anticipating the upcoming news pertaining to the German projects. The company has been involved in multiple rounds of venture funding and debt financing and this capital has allowed the company to secure new and highly promising lithium exploration projects in Germany.
The news of the halt in trading comes as European Lithium Limited is making progress with its two large-scale German lithium exploration and development projects. The Wolfsberg Lithium Project located in the Carinthia region of Austria and the Osterloh Lithium Project located in Brandenburg in Germany. The first of these projects, Wolfsberg, is expected to be operational by the first half of 2021 and is estimated to be able to produce 20 million tons of high-grade lithium carbonate annually with capacity for further expansion.
The second project, Osterloh, is expected to start operations later this year and is expected to produce 12 million tonnes of lithium carbonate a year with possibilities for scaling up production. These two projects are reflective of the company’s aim to become one of the largest suppliers of lithium products to the European region.
The halt in trading is expected to be lifted once the ASX board approves the company’s request to proceed with the two projects. The current attractiveness of the lithium market due to increased demand from the automotive and tech industry has invigorated investor interest in the lithium sector.
European Lithium Limited is seen as a highly promising company with its two large-scale projects expected to be operational in the near future. This news coupled with the trading halt announcement has further led to increased investor confidence in the company’s future.
