European Lithium Limited (ASX: EUR)
There is no major source of lithium in Europe, with much of the commodity currently imported.
However Europe consumes 24% of global lithium demand, second only to China – which means local producers could be in a prime position to service the lithium ion battery factories that are springing up all over the continent.
One company positioning itself to ride this lithium wave is European Lithium (ASX: EUR), which is positioning itself to fast track production at its Wolfsberg Project in the heart of Europe.
The resource looks strong for EUR, with the company bearing down on mining a 6.3Mt lithium resource at a grade of 1.17% Li2O.
EUR is currently undertaking technical studies for a Pre-Feasibility Study (PFS) and drilling for a resource expansion anticipated for completion in Q3 2017.
EUR recently produced a spodumene concentrate of 5.3% Li2O via Dense Media Separation.
The ability to produce an early DMS concentrate opens up the potential to fast track lithium sales into the European glass-ceramic market whilst the company progresses with producing battery grade lithium carbonate.
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2017 is a crucial time for EUR. It will finalise its PFS, give its Resource expansion a formal stamp, introduce products to off-takers and embark on finalising its DFS and permitting for 2018.
And it is doing this all as lithium demand continues to significantly increase.