Europa Metals Ltd (AIM:EUZ, JSE:EUZ) has updated on its proposed acquisition of Viridian Metals and its 100%-owned Tynagh polymetallic brownfield project in the Republic of Ireland.
Involved parties continue to work on the conditional term sheet, Europa said, and on near-term funding for the transaction.
Discussions have also been held with a range of parties over funding for the development of Tynagh, said the statement.
The term sheet is binding as to a mutual 150-day period of exclusivity,