First Berlin Equity Research has updated its recommendation to BUY with a price target of € 0.19. It believes there will be scope to raise this price target, if, as it expects, European Lithium raises the measured indicated part of its JORC resource to over 10m tonnes by the end of this year.

The report states:

Since we published our initiating coverage study on 7 March, European Lithium has published a preliminary feasibility study (PFS) of the Wolfsberg project, released drilling results for Zone 2 of the deposit, and announced the promotion of Dietrich Wanke from General Manager to CEO.

Since the publication of the PFS, discussions with potential partners have intensified and management now expects that the most likely financing solution for the definitive feasibility study and bringing the mine to production is a partnership with/takeover by an industrial lithium user.

FIRST BERLIN FULL REPORT
 

European Lithium aus Wolfsberg

European Lithium: Katharina Loeckinger (DGWA CORPORATE COMMUNICATIONS) & Dietrich Wanke (EUR AUSTRIA DIRECTOR) /at the Wolfsberg Mine.

Börse Social Network-Roadshow, European Lithium-Director Stefan Müller, Credit: Michaela Mejta

Börse Social Network-Roadshow, Katharina Löckinger (Investor Relations European Lithium, Credit: Michaela Mejta

Stefan Müller

DGWA, the German Institute for Asset and Equity Allocation and Valuation - one of the leading German Corporate Boutiques for global small and mid-cap consulting and investments.

>> http://www.DGWA.org