Deep diveMining
Europa Metals Ltd

Europa Metals builds knowledge base at Toral project in Spain


A recent scoping study put a net present value (NPV) on the Castilla y León project of US$110mln


Quick facts: Europa Metals Ltd

Price: £0.00

Market: AIM
Market Cap: £5.48 m
  • Europa Metals Limited (LON:EUZ) is developing a silver, lead and zinc deposit at Toral in Spain.

  • A recent scoping study put a net present value (NPV) on the Castilla y León project of US$110mln using a discount rate of 8%.

  • At 0.03p, the company is valued at just over £3.1mln.


How is it doing

Toral numbers

A scoping study in March projected an internal rate of return (IRR) of 24.4% with total capital expenditure put at US$110mln.

The study was based on a previous JORC compliant resource estimate comprising 16 million tonnes in the Inferred category, equating to 640,000 tonnes of zinc, 510,000 tonnes of lead and 13 million ounces of silver.

Raised £960,000 in March to fund resource definition drilling.

Plans in 2019 also include an infill drilling campaign; completion of the first metallurgical test work programme; commencement of environmental studies and hydrogeological characterisation.

In August, Europa revealed that a third hole drilled at Toral had giving visual indications of mineralisation over a width of 12m, with additional layers of metal an unexpected bonus.


What the boss says: Laurence Read

"Toral is demonstrating itself to be a highly robust lead, zinc and silver project located in a first world jurisdiction.”




Inflexion points

Resource definition drilling to identify characteristics of metals in the concentrate

Drilling in high-grade areas alongside metallurgical work to upgrade resource to indicated status

Changes to regulations governing the use of land for mining in north-west Spain’s Castilla y Leon region can give a boost to Toral

Recently shifted primary listing to AIM from ASX to reflect focus on Europe and where shareholders are largely based. Europa still has listing on Johannesburg’s AltX market.

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Toral project work start opens up 'exciting new avenue', says Ferrum...

The start of work at the Toral lead and zinc project in Spain is a "very exciting new avenue for this company". Those were the words of Justin Tooth, executive chairman of the mining group Ferrum Crescent (LON:FCR), speaking to Andrew Scott at Proactive. It sets the firm off into the zinc...

on 11/11/2016


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