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Europa Metals Ltd: DEEP DIVE

Europa Metals builds knowledge base at Toral project in Spain

A recent scoping study put a net present value (NPV) on the Castilla y León project of US$110mln
OVERVIEW: EUZ The Big Picture
Toral project is in north-west Spain
  • Europa Metals Limited (LON:EUZ) is developing a silver, lead and zinc deposit at Toral in Spain.

  • A recent scoping study put a net present value (NPV) on the Castilla y León project of US$110mln using a discount rate of 8%.

  • At 0.02p, the company is valued at just over £2.2mln.


How is it doing

Toral numbers

The scoping study projected an internal rate of return (IRR) or 24.4% with total capital expenditure put at US$110mln.

Plans in 2019 include an infill drilling campaign; completion of the first metallurgical test work programme; commencement of environmental studies and hydrogeological characterisation.

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.

Raised £960,000 in March to fund resource definition drilling.


What the boss says: Laurence Read

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

"Fundraising allows Europa Metals to move its Toral project forward, with the planned commencement of a diamond drilling campaign into the high-grade core of Toral.

"The programme will allow the company to increase its understanding of the high-grade lead, zinc and silver content at the centre of Toral in addition to obtaining fresh metallurgical samples which could then be used for pre-marketing of the Toral concentrate."




Inflexion points

Resource definition drilling to identify characteristics of metals in the concentrate

Drilling later in the year in high-grade areas alongside metallurgical work to upgrade resource to indicated status

Currently, mapping and re-logging core

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. Europa still has listing on Johannesburg’s AltX market.

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