logo-loader
viewEuropa Metals Ltd

Europa Metals to focus on work already completed at Toral

Snapshot

  • Developing the Toral silver, lead and zinc deposit in Spain.
  • Scoping study set a project value (NPV) of US$110mln
  • Resource recently boosted to 18Mt at 7.4% zinc equivalent
Toral

Quick facts: Europa Metals Ltd

Price: 0.0185 GBX

AIM:EUZ
Market: AIM
Market Cap: £3.09 m
Follow

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

Laurence Read, chief executive

 

How it's doing

Toral numbers

Europa Metals Limited's (LON:EUZ) scoping study 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.

This was upgraded in November to 2.7mln tonnes grading 8.9% zinc equivalent in the indicated category with the overall resource now approximately 18mln tonnes at 7.4% zinc equivalent.

In December, Europa added that visible sulphide mineralisation has been noted in the first hole of a new programme at Toral.

The AIM-listed miner said the TOD-024 hole had been drilled to 302.4 metres with a second drill hole, TOD-025, underway.

In January, Europa said it would step back from further drilling at Toral for the time being and analyse the data accumulated from recent exploration.

Once assays from the final two holes in the current drill programme come back, Europa will work on metallurgical testing, hydrology and geotechnical modelling.

A focus on these elements of the project will help move it forward in a cost-effective and optimal manner said the statement.

What the boss says: Laurence Read, director

 “Europa Metals has generated significant amounts of data on its Toral Project over the last two years and, in light of the prevailing challenging market conditions, we believe that further resource delineation drilling will not generate significant incremental value for shareholders at the current time.”

Watch the interview

 

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. 

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Europa Metals Ltd named herein, including the promotion by the Company of Europa Metals Ltd in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Mining Capital's Alastair Ford on 2019's winners and next year's hot commodities

Mining Capital's Alastair Ford discusses some of the companies he feels have been the best performers this year - including Greatland Gold (LON:GGP), Jubilee Metals (LON:JLP), Asiamet (LON:ARS) and Europa Metals (LON:EUZ). On commodities he reckons copper will be the big one to watch while...

on 20/12/19

2 min read