• EUR’s majority stake in the new NASDAQ-listed Critical Metals Corp is valued at $1.3bn
  • Critical Metals will develop the Wolfsberg project
  • Tony Sage-chaired company to retain focus on exploration over its other Austrian lithium projects


Special Report: Tony Sage’s European Lithium has officially joined forces with acquisition company Sizzle Corp (NASDAQ:SZZL) to form and list Critical Metals Corp on the American Stock Exchange (NASDAQ:CRML) and drive the development of the Wolfsberg lithium project in Austria.

European Lithium (ASX:EUR) shareholders will retain a large interest in the Wolfsberg project through the ownership of nearly 67.8 million CRML shares as the majority shareholder, ownership worth about $1.3bn (US$839.2m) at close of trade 29 February 2024.

The move provides EUR significant exposure to US investor appetite for critical minerals projects as Critical Metals Corp springs to life on the NASDAQ.


Critical Metals Corp executive chairman Tony Sage spoke at the Nasdaq MarketSite in Times Square for the company’s listing. Pic via Nasdaq.


Wolfsberg lithium

Wolfsberg, 270km south of Vienna, was vested into Paynes Find Gold in 2016, which subsequently changed its name to European Lithium that year.

It’s since become Europe’s first fully permitted lithium deposit with a resource of 12.9Mt at 1% Li2O.

A definitive feasibility study (DFS) highlighted the economic viability of an 8,800tpa lithium hydroxide operation and a binding offtake agreement with top-tier car manufacturer BMW.


Austrian lithium projects

As Critical Metals drives Wolfsberg forward, EUR has kicked off an initial work program at its Austrian lithium projects which consists of 245 exploration licenses across 114.6km2, ~70km north of Wolfsberg.

The licences cover three projects considered prospective for lithium occurrences and initial surface sampling showing 3.98% Li2O.

EUR chairman Tony Sage says the company is thrilled to complete the transaction which brings Critical Metals Corp to life and supports the future commercialisation of the Wolfsberg project.

“I want to extend our gratitude to the many hard-working contributors, Sizzle and EUR shareholders without who this would not be possible,” Sage says.

“With access to US capital markets and funds raised in the process of the listing, we believe that Critical Metals is well positioned to become a key supplier for the lithium-ion battery supply chain in Europe.

“Critical Metals’ future success as a NASDAQ-listed company is also expected to create a significant increase in shareholder value for EUR shareholders.”



This article was developed in collaboration with European Lithium, a Stockhead advertiser at the time of publishing.


This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.