Europa Metals delighted with study results for Toral project

Europa Metals Ltd is a lead-zinc exploration company focused exclusively on European projects.

The company believes Europe, and in particular Spain, is an unrealised region for modern mine development and that the opportunity to create new mines within a best practice social and environmental framework, near first class infrastructure, is significant.

Currently, the company is progressing its Toral Lead, Zinc and Silver project towards the mine development phase.

(, , ) said it raised a gross GBP1.5mln through a placing and subscription offer to help fund its refocused corporate and operational strategy as it seeks out new deals and acquisitions.

The AIM-quoted company is seeking a partial sale/earn-in/joint venture or similar third-party agreement for the Toral lead/zinc/silver project in Spain. It is also looking at potential acquisitions with near-term production/revenue or low-cost project acquisitions in high demand commodities such as copper, lithium, gold, iron or nickel.

To further progress and de-risk the Toral project, Europa plans to carry out further geotechnical drilling to assess key areas for future plant location and potential tailings storage facilities.

The initial tranche of new shares will be issued under the company’s pre-existing share capital authorities. The second tranche is subject to shareholder approval at the company’s annual general meeting at the end of November.

(, , ) is raising up to GBP1.5mln by means of a placing and subscription of shares at 5p each, a discount of approximately 42.7% to the previous closing price.

The fundraising is being conducted in two tranches, with the initial tranche issued under pre-existing share capital authorities and the second tranche subject to the requisite shareholder approval at the company’s forthcoming 2021 annual general meeting.

Europa Metals Ltd (AIM:EUZ) has returned further high grade intersections of lead, zinc and silver from drilling at its Toral project in Spain.

The company also hit an interval of nearly 1% copper.

(, , ) (AIM:EUZ, JSE:EUZ, ) Laurence Read talks to Proactive London about their successful raise of GBP1.5mln in new money for Toral and potential new transactions.

The fundraising is being conducted in two tranches, with the initial tranche issued under pre-existing share capital authorities and the second tranche subject to the requisite shareholder approval at the company’s forthcoming 2021 annual general meeting.

The funds will also be focused on seeking potential additional projects or transaction opportunities that could add shareholder value, and to further progress and de-risk the Toral lead, zinc, silver project.