Europa Metals Ltd (AIM:EUZ, JSE:EUZ) said it has become a cash shell for AIM-listing purposes following the disposal of its Toral project in Spain.
Buyer Denarius Metals has issued Europa seven million shares, subject to a March 13, 2025 lock-up, while all other loan and option agreements have been terminated.
Under AIM rules, Europa now has six months to make a reverse takeover and said it is working on the previously announced deal with Viridian Metals and its Tynagh re-cycling and reclamation project in the Republic of Ireland.