Highlights

  • Wolfsberg Lithium Project achieves progress with DFS and offtake discussions underway.
  • Integration advances between Wolfsberg and Sizzle’s North American lithium assets.
  • Positive momentum in battery materials expansion through Critical Metals Corp transaction.

European Lithium Ltd (ASX:EUR) released its quarterly activities report for the period ended 30 September 2025, outlining developments at its flagship Wolfsberg Lithium Project in Austria.

Advancing the Wolfsberg Lithium Project

 The company continued to advance the Definitive Feasibility Study (DFS), with engineering design and project development activities progressing in accordance with the work plan.

During the quarter, European Lithium maintained engagement with stakeholders and potential offtake partners to secure long-term supply agreements. The company also advanced its collaboration with Sizzle Acquisition Corp (NASDAQ: SZZL) related to the proposed merger with Critical Metals Corp, designed to strengthen integration across the lithium supply chain.

Corporate Developments and Strategic Integration

The proposed merger between European Lithium’s Wolfsberg Project and Sizzle’s North American assets under Critical Metals Corp continued to progress during the period. The business combination is structured to consolidate lithium exploration and production assets across Europe and North America.

European Lithium stated that post-transaction, it will retain a significant shareholding in the merged entity, ensuring continued exposure to global lithium development. The company also maintained disciplined capital management through the quarter, aligning spending with project and corporate priorities.

Financial Overview

As of 30 September 2025, European Lithium reported cash and cash equivalents of approximately AUD 6.2m. The company’s primary cash outflows during the quarter were directed toward the Wolfsberg DFS, project development, and corporate activities associated with the proposed Critical Metals Corp transaction.

Management Commentary

Chairman Tony Sage stated: “We continue to make significant progress on multiple fronts, including the Wolfsberg DFS and integration with Critical Metals Corp. These initiatives represent important milestones for the company as we move toward finalising the transaction and positioning for the next phase of growth.”

Share Performance

EUR’s shares trading at AUD 0.250 per share on 31 October 2025, up by 21.95% from its previous close of AUD 0.205.