Cyclone Metals Sells AU$14.3 Million Worth of Shares in European Lithium, Shares Down 8%

MT Newswires Live

10/21

Cyclone Metals (ASX:CLE) has sold via an off-market sale process its shareholding in European Lithium (ASX:EUR), generating funds of approximately AU$14.3 million, according to a Tuesday Australian bourse filing.

The company's current cash position as of Oct. 21 is approximately AU$15.6 million.

The company decided to conduct the sale in light of the recent significant increase in the share price of EUR.

Cyclone Metals shares fell 8% in recent Tuesday trade, while EUR shares fell 16%.

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