Adriatic Metals PLC (LSE:ADT1, ASX:ADT, OTCQX:ADMLF) said construction work at its Vares silver project in Bosnia-Herzegovina is speeding up with a letter of intent now signed with an underground mining contractor.
Backfill test work also looks likely to highlight ways to reduce the environmental impact of tailings and mining costs, the junior added.
Discussions with potential off-takers are also reaching the final stages it added, with the first production on track for the second quarter of next year.
Paul Cronin, managing director added: "The company is edging closer to becoming Europe's next operating mine.
"Project development is accelerating, having recently commenced construction activities.
“We are also busy bulking out the owners team with excellent new hires, further improving designs and rationalising costs where possible to lower capital costs and improve operational flexibility.
“Beyond the ESIA, we have conducted numerous activities to engage with the local communities and support the sustainable economic and social development of those communities.”