European Lithium raises $50m from sale of Critical Metals shares
ASX-listed European Lithium has realised a further $50-million (A$76-million) through the sale of 3.85-million shares in Nasdaq-listed Critical Metals (CRML) to a single US institutional investor.
The shares were sold at $13 each in an off-market transaction – a 12% discount to CRML’s Friday closing price of $14.98. The sale follows a significant run-up in CRML’s share price and increased trading activity on the Nasdaq.
Executive chairperson Tony Sage said the deal highlighted the strength of investor demand for CRML shares. “The recent price increase and the large trading volumes on the Nasdaq shows the demand for CRML shares is huge,” he said.
Sage added that the company’s remaining 56-million shares in CRML – based on the latest Nasdaq closing price – were valued at about $854-million (A$1.29-billion), “which is well above the current market capitalisation of EUR”.
“The company’s holding in CRML equates to A$0.89 per EUR share. EUR also holds a direct 7.5% interest in the Tanbreez project and given the current market valuation of CRML ($A2.3-billion), this equity interest is very strategic,” he said.
European Lithium remains focused on advancing its exploration and development portfolio across Austria, Ireland, Ukraine, and Australia, with particular emphasis on lithium and rare earth projects.
CRML, meanwhile, is positioning itself as a key supplier of critical minerals to Western markets. Its flagship Tanbreez project in Greenland is one of the world’s largest rare-earth deposits, while its Wolfsberg lithium project in Austria – the first fully permitted lithium mine in Europe – is poised to become a cornerstone supplier for the European battery and electric vehicle industries.
With a 20% interest in several prospective Austrian mineral projects previously held by European Lithium, CRML is developing what it describes as a “strategic asset portfolio” supporting the clean energy transition and next-generation technologies.
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Advancing leadership in technology, innovation, and project management excellence
VISIT SHOWROOM
We are responsible manufacturers of essential components. Manufacturing 80 million parts a week, we have over 1 billion parts in stock.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
