IN BRIEF: Europa Metals seals disposal of Europa Metals Iberia

Europa Metals Ltd - Europe-focused lead-zinc and silver developer - Completes the sale of its 100% interest in the Toral lead, zinc and silver project to Denarius Metals Corp. Europa in September signed a binding letter of intent that sees Denarius acquire 100% of Europa Metals Iberia SL for CAD3.5 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 the London Stock Exchange AIM sub-market 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: 40 rand cents

12-month change: down 43%

By Artwell Dlamini, Alliance News reporter

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