Europa Metals Ltd (AIM:EUZ, JSE:EUZ) shares have been suspended and the company decided to begin a process that will end with the winding up of the company.
In a statement it said that a review, which began six months ago, failed to identify a suitable asset for a reverse takeover.
It has now resolved to return the company’s assets to shareholders, and it's taking taxation advice on the most efficient route for this process.
Europa noted that its review included criteria related to jurisdiction stability, compliance with JORC or NI-43-101 standards, and near-term production potential.