{"id":6585,"date":"2024-03-01T03:33:42","date_gmt":"2024-03-01T03:33:42","guid":{"rendered":"https:\/\/economicherald.net\/?p=6585"},"modified":"2024-03-01T03:33:42","modified_gmt":"2024-03-01T03:33:42","slug":"european-lithium-grabs-1-3bn-stake-in-new-nasdaq-listed-critical-metals-corp-after-spinning-out-wolfsberg-project","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=6585","title":{"rendered":"European Lithium grabs $1.3bn stake in new NASDAQ-listed Critical Metals Corp after spinning out Wolfsberg project"},"content":{"rendered":"<p>EUR\u2019s majority stake in the new NASDAQ-listed Critical Metals Corp is valued at $1.3bn<br \/>\nCritical Metals will develop the Wolfsberg project<br \/>\nTony Sage-chaired company to retain focus on exploration over its other Austrian lithium projects<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report<\/em><\/strong><strong>: Tony Sage\u2019s European Lithium has officially joined forces with acquisition company Sizzle Corp (NASDAQ:SZZL) to form and list Critical Metals Corp on the American Stock Exchange (NASDAQ:CRML) and drive the development of the Wolfsberg lithium project in Austria.<\/strong><\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/european-lithium-eur\/\"><strong>European Lithium (ASX:EUR)<\/strong><\/a> shareholders will retain a large interest in the Wolfsberg project through the ownership of nearly 67.8 million CRML shares as the majority shareholder, ownership worth about $1.3bn (US$839.2m) at close of trade 29 February 2024.<\/p>\n<p>The move provides EUR significant exposure to US investor appetite for critical minerals projects as Critical Metals Corp springs to life on the NASDAQ.<\/p>\n<p>\u00a0<\/p>\n<p>Critical Metals Corp executive chairman Tony Sage spoke at the Nasdaq MarketSite in Times Square for the company\u2019s listing. Pic via Nasdaq.<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<h2><strong>Wolfsberg lithium<\/strong><\/h2>\n<p>Wolfsberg, 270km south of Vienna, was vested into Paynes Find Gold in 2016, which subsequently changed its name to European Lithium that year.<\/p>\n<p>It\u2019s since become Europe\u2019s first fully permitted lithium deposit with a resource of 12.9Mt at 1% Li2O.<\/p>\n<p>A definitive feasibility study (DFS) highlighted the economic viability of an 8,800tpa lithium hydroxide operation and a binding offtake agreement with top-tier car manufacturer BMW.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Austrian lithium projects<\/strong><\/h2>\n<p>As Critical Metals drives Wolfsberg forward, EUR has kicked off an initial work program at its Austrian lithium projects which consists of 245 exploration licenses across 114.6km2, ~70km north of Wolfsberg.<\/p>\n<p>The licences <a href=\"https:\/\/stockhead.com.au\/resources\/eur-strengthens-its-local-lithium-position-with-acquisition-of-three-austrian-projects\/\"><strong>cover three projects<\/strong><\/a> considered prospective for lithium occurrences and initial surface sampling showing 3.98% Li2O.<\/p>\n<p>EUR chairman Tony Sage says the company is thrilled to complete the transaction which brings Critical Metals Corp to life and supports the future commercialisation of the Wolfsberg project.<\/p>\n<p>\u201cI want to extend our gratitude to the many hard-working contributors, Sizzle and EUR shareholders without who this would not be possible,\u201d Sage says.<\/p>\n<p>\u201cWith access to US capital markets and funds raised in the process of the listing, we believe that Critical Metals is well positioned to become a key supplier for the lithium-ion battery supply chain in Europe.<\/p>\n<p>\u201cCritical Metals\u2019 future success as a NASDAQ-listed company is also expected to create a significant increase in shareholder value for EUR shareholders.\u201d<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with European Lithium, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n<p>\u00a0<\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/european-lithium-grabs-1-3bn-stake-in-new-nasdaq-listed-critical-metals-corp-after-spinning-out-wolfsberg-project\/\">European Lithium grabs $1.3bn stake in new NASDAQ-listed Critical Metals Corp after spinning out Wolfsberg project<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>EUR\u2019s majority stake in the new NASDAQ-listed Critical Metals Corp is valued at $1.3bn Critical Metals will develop the Wolfsberg project Tony Sage-chaired company to <a href=\"https:\/\/economicherald.net\/?p=6585\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":6586,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6585","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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