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Europa Metals Ltd - Europe-focused lead-zinc and silver developer - Says its shareholders have approved the proposed sale of its 100% interest in the Toral lead, zinc and silver project to Denarius Metals Corp. Europa last month signed a binding letter of intent with Denarius, which would acquire 100% of Europa Metals Iberia SL for C$3.5 million in equity. In November 2022, Europa entered into a definitive option agreement that gave Denarius two options to buy up to an 80% interest in Europa Metals Iberia, a wholly-owned Spanish subsidiary of Europa that holds the Toral project in the Leon Province, Northern Spain.
Denarius was granted a first option, exercisable until November 22, 2025, to subscribe for a 51% equity interest in Europa Metals Iberia.
Europa’s shares were suspended on September 17 from AIM of the London Stock Exchange after it signed an agreement to acquire Viridian Metals Ireland Ltd and its Tynagh brownfield. The proposed transaction would constitute a reverse takeover, meaning it would need to apply for re-admission of its shares to AIM.
Current stock price in Johannesburg: 61 rand cents
12-month change: down 6.2%
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