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Europa Metals raises £1mln to fund pre-feasibility study on Spanish lead-zinc-silver project

“In addition, the net proceeds will provide the company with the flexibility to undertake new exploratory drilling outside of the currently defined mineralisation along strike and at depth, as well as deploying funds on the important mining engineering components to progress mine planning work,” investors were told

Europa Metals Ltd -

Europa Metals Ltd (LON:EUZ) said it had raised £1mln in an over-subscribed issue of stock at 0.025p a share.

The proceeds will be used for “progressing the workstreams” required for a pre-feasibility study on the Toral lead-zinc-silver project located in the Castilla y León region, northern Spain.

This would follow the updated mineral resource estimate and JORC technical report for the project.

“In addition, the net proceeds will provide the company with the flexibility to undertake new exploratory drilling outside of the currently defined mineralisation along strike and at depth, as well as deploying funds on the important mining engineering components to progress mine planning work,” investors were told.

Quick facts: Europa Metals Ltd

Price: 0.0282 GBX

AIM:EUZ
Market: AIM
Market Cap: £4.72 m
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