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Bricks I wasn't posting that as any proof that there won't be an announcement, more that it seems odd that infobierzo.com quote a figure of $US110m which was coincidentally once exactly our NPV and also an out of date higher CAPEX figure than the current one. Just suggests they've got their wires crossed. Anyway we'll soon find out if there is any funding to be announced on the big press day or if it is just purely a media engagement day, nothing would surprise me either way. I know they're shallow but the number of holes we've been drilling it feels like funding news good or bad has to be imminent.
What a dork I am....apologies guys.
The article was written in February 2020 prior to the last upgrade
the article says nothing about an investment having been completed it just says how much the mine will cost to build. Still waiting for this significant valeu event for shareholders!!! Any day now???
Thought I'd replied to this but can't see it now, apologies if two versions pop up eventually - Bricks when I read "An Australian company finalises the procedures to exploit a lead and zinc mine in Toral de los Vados with an investment of 110 million dollars" the figure jogged my memory. From the 2019 SS:
o US$110 million net present value (NPV) using a discount rate of 8%
o Estimated total CAPEX of US$110 million
Just hope infobierzo.com have got confused with our old (now improved) CAPEX figure or old (now also improved) NPV and assumed this is the 'investment'?
Yes bricks exactly once results are put from these brick samples I believe it will be signed. Lots of press about which can only boost this mine and jobs are needed at the moment.
An Australian company finalizes the procedures to exploit a lead and zinc mine in Toral de los Vados with an investment of 110 million dollars
An Australian mining company completes all the procedures to exploit a lead and zinc mine located in El Bierzo, specifically in Toral de los Vados. It is about the Europa Metals mining company, from where they have already delivered the document to know the scope of the environmental impact study of this mine. This Australian company has been mining and collecting samples for several years to develop this project. The exploitation of this mine would create around 150 direct jobs and around 400 indirect jobs on Toral de los Vados land.
The mining company is drilling and collecting rock samples that prove the existence of a silver, lead and zinc deposit. The results obtained have convinced the managers of the mining company to request the document of the study on the environmental impact of the mine in this Berciano municipality. This is confirmed by Europa Metals on its website from where anyone who wishes can consult the documents in relation to this mine.
This is the step prior to the application for an exploitation concession, which does not initiate said process by itself. It is optional by the project promoter and is not mandatory for subsequent processing. To this end, they have begun to send the Junta de Castilla y León the necessary documentation to justify their request, including a conceptual plan for the future exploitation.
According to company information, once the mandatory period has elapsed, the mining company expects to receive comments from the Administration, which will establish the environmental parameters that the mining company must assume in order to continue with its plans to establish an operating mine in the territory. Leonese. The executive director of Europa Metals, Laurence Read, is optimistic regarding a favorable decision by the authorities of Castilla y León, which have recently approved legislative changes regarding the mining exploitation of the Community territory, with the aim of clarifying the permitting process through an environmental impact report. The estimated capital investment is 33 million dollars, for the design and construction of a plant with a capacity to process up to 450,000 tons of mineral per year, and a total investment of 110 million.
Source: https://www.infobierzo.com/una-compania-australiana-ultima-los-tramites-para-explotar-una-mina-de-plomo-y-cinc-en-toral-de-los-vados-con-una-inversion-de-110-millones-de-dolares/528493/