European Lithium Ltd (ASX: EUR), an exploration and development stage mining company focused on lithium, rare earth, precious metals and base metals in Austria, Ireland, Ukraine, and Australia, has announced the sale of 0.5 million shares in Critical Metals Corp. (Nasdaq: CRML). The shares were sold in an off-market transaction to a US institutional investor at a price of US$3.25 per share, resulting in net proceeds of US$1.625 million (approximately A$2.5 million) to European Lithium.
The sale underscores the significant value of European Lithium’s investment in Critical Metals Corp. According to Executive Chairman Tony Sage, the remaining 63 million shares held in CRML, based on the US$3.25 sale price, are valued at approximately US$205 million (A$315 million). This valuation is considerably higher than the current market capitalisation of European Lithium itself. Sage noted that the company’s holding in CRML equates to $0.218 per EUR share.
Critical Metals Corp is a mining development company focused on critical metals and minerals, producing strategic products essential to electrification and next-generation technologies for Europe and its western partners. Its key assets include the Tanbreez rare-earth deposit in Greenland and the Wolfsberg Lithium Project in Austria, the first fully permitted mine in Europe.
The announcement has been approved for release on the ASX by the Board of Directors.
