European Lithium Limited (ASX: EUR) recently requested for a trading halt of unspecified securities. The cause for the trading halt is not indicated.
The company is a minerals exploration and development company focused on its 100%-owned Wolfsberg Lithium Project in Austria. In March 2021, EUR annnounced the appointment of a new Chief Executive Officer, John Walton.
European Lithium Limited first began in 2013 and has since been dedicated to developing a world-class lithium resource in Europe. Their Wolfsberg Lithium project is strategically located in the centre of Europe’s leading battery supply chain. The project has a positive Pre-feasibility study and a JORC 2012-compliant Mineral Resource Estimate of 19.1Mt @ 1.07 Li2O. The company is confident about their project and has taken strategic steps to expedite its development.
The ASX trading halt of EUR securities will allow shareholders to take a step back and review their investment decisions. It also gives the company the opportunity to provide a detailed explanation about the direction of their operations and the outlook of their performance.
It is possible that the trading halt will either be lifted, or the company will make an announcement on the cause. Until then, investors should take great caution when making an investment decision concerning EUR’s securities. It is best to wait for further news and updates before jumping on the bandwagon.