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Europa Metals focused on drilling to upgrade Toral resource

Europa published a scoping study for Toral this week

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Toral is a lead, zinc, silver deposit

Toral project developer Europa Metals Limited (LON:EUZ) will focus during the remainder of 2019 on upgrading the resource at the project in Spain.

Subject to funding, plans are for an infill drilling campaign targeting the high-grade core of the deposit.

READ: Europa Metals releases full scoping study economics for Toral project

Europa published a scoping study for Toral this week, which put an NPV on the project in Castilla y León, north-west Spain of US$110mln using a discount rate of 8%. The study projected an internal rate of return (IRR) or 24.4% with an estimated capital expenditure requirement of US$33mln for a proposed 450,000 tonnes a year design capacity plant. Total capital expenditure for the project is an estimated US$110mln.

Europa spent A$958,000 on exploration in the last six months, which contributed to interim losses rising to A$1.53mln.

 

Quick facts: Europa Metals Ltd

Price: 0.0384 GBX

AIM:EUZ
Market: AIM
Market Cap: £6.36 m
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