Further work was completed covering the environmental impact assessment (EIA) determination procedure forming a fast-track-eligibility approval process covering the application of the final mining decree for the Wolfsberg Lithium Project (Wolfsberg Project). The application for pre-assessment was lodged at the beginning of the 3rd quarter 2023. This essential work contributes towards operational readiness and construction of mine facilities.
Nine additional mining licenses have been issued during the quarter by the Mining Authority to cover the complete underground footprint of the mine design as laid out in the Wolfsberg Project Definitive Feasibility Study (DFS).
Internal studies continue to assess the technical and commercial impacts of relocating the hydroxide plant to Saudi Arabia, based on the DFS results for the Wolfsberg Project presented in December 2022 by lead consultant DRA Global (DRA).
Studies that form the DFS demonstrate that the Wolfsberg Project is well positioned to become a leading producer of battery-grade lithium hydroxide in Europe, and set to deliver high returns, leveraging low operating costs, and benefiting from a lithium market which is anticipated to be in structural undersupply during most of the life of mine.
Dorfner Anzaplan (Dorfner) completed work on optimizing the concentrator flow to increase spodumene concentrate levels with the aim to reduce energy consumption.
The Mining Authority approved the Zone 2 drilling program issuing the Company with a decree.
EUR continues collaborating with a research group from the University of Graz to develop local lithium hydroxide production from recycled Lithium-Ion batteries.
GREENPEG (EU-funded) supported infield and underground work continues. A fully GREENPEG funded comprehensive airborne geophysics program was completed during the quarter to assess a new airborne technology (via Helicopter) for its suitability in mineralization such as the Wolfsberg Project.
E47/4144 located in the northwest of Australia continues to progress through the WA Mining Act regulatory application process.
EUR advances towards completion of business combination with Sizzle Acquisition Corp. that at conclusion will own the Wolfsberg Project via a newly-formed company, “Critical Metals Corp.” which is expected to be listed on NASDAQ.
