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Ferrum Crescent raises £1mln for Spanish Project and changes its name

Laurence Read said the company is planning to start drilling in the summer

Ferrum Crescent Ltd’s (LON:FCR) executive director Laurence Read talks to Proactive about plans to raise £1mln to advance its Toral project in northern Spain and a name change to Europa Metals Limited.

The funds will be used in three distinct stages, with a drilling programme to start in the summer to look for additional metal along the current strike.

A scoping study is also planned to get a rough idea of the economics and if it is a viable project while metallurgical work will also be undertaken to better understand the deposit.

The name is being changed because “We’ve got nothing to do with iron anymore,” Read explained.

Quick facts: Europa Metals Ltd

Price: 11.25 GBX

AIM:EUZ
Market: AIM
Market Cap: £5.53 m
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