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Thanks Money. It does make a lot of sense. Good research. So this announcement could be made as early as tomorrow which if it is....is significant news. RNS will have to be released prior to the event ....let’s see but definitely I’m leaning towards some form of government funding and this could well be it.GLA

Laurence Read shared a post: #euz https://lnkd.in/eY_mBcA At Europa Metals Keeping our local stakeholders engaged and informed a key part of our esg compliance strategy. Listening to and updating communities/govt/key actors on project progress, roadmap forward sits at the core of our work to progress a sustainable mine appropriate to this northern, mining area, of leo . Community Team recently enhanced but we ensure the technical team are integrated into the process to create an engagement platform that truly reflects The Toral lead, zinc and silver project. The ability to develop a new source of concentrates that have full supply chain transparency (castilla y leon/spanish/eu regulations and standards) increasingly being recognised as an important benefit to Toral in addition to the high margin model, quality concentrate products. Pfs operational work continues well #esgreporting #esginvesting #euprojects

What a dork I am....apologies guys.

If the article is correct and we have an initial investment of $33m this will be at 50p next week.
The balance sheet will drive this SP moving forward.

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/

https://www.imanet.org/-/media/4c6c7650a0024853a1c61963d7865649.a

“ Currently I can sell for 12.8 or I can buy for 12.65 “ ....is this legal ? Wonder what the FCA will say about this ?

More tweets https://twitter.com/ltdeuropa?lang=en

The mining regions have historically been a monoculture of coal, which, together with other factors such as the existence of a very dispersed population, small and scattered population centers, lack of infrastructure and certain environmental deterioration have made it difficult to articulate the territory and implantation of alternative industries. To face this situation, throughout the different restructuring and modernization plans for coal mining approved in Spain, significant economic amounts have been applied to the development of basic infrastructures, so that it was possible to alleviate the deficiencies presented by these zones.
Considerable progress has been made in providing basic infrastructure, but in some cases the generation of alternative activity has not been necessary. For this reason, with these new measures planned for the 2019-2027 period, it is intended to consolidate a process of just transition, economic reactivation and alternative development of the mining regions that allows completing their structural, industrial, economic transformation and their alternative development.
For this reason, the Institute for Just Transition (ITJ) will allocate 27 million euros to finance business projects and small investment projects that generate employment, which promote the alternative development of mining areas. The call for the aid corresponding to 2021 has been published.
The objective of this line, included in the 2019-2027 framework of action for the promotion of mining areas, is to promote specific business investment initiatives in areas affected by the restructuring of coal mining and its surroundings. With this, it seeks to generate alternative economic activities that entail the creation of jobs and the commitment to maintain the existing ones to encourage, thus, a new economic development in these territories.
Source: https://translate.google.com/translate?hl=en&sl=es&u=https://www.transicionjusta.gob.es/&prev=search&pto=aue

FWIW...I asked LR if we were part of the regions recovery plan...he responded as follows:
“ we are fully aware of this and have been for some time, at an appropriate moment we shall update if necessary. There are a number of new funding initiatives we have been engaging with and obviously if we sign something will update. I will be talking about them though but am waiting until satisfied they are formally launched before doing so because 1 want to be cautious on expectations and 2 don’t want to be seen as breaching any consultations ahead of time. Interesting time since Jan on all fronts but until RNS’d need to strike the right balance”
GLA

Morning Sheds....I agree it will more than likely be an operational update. I think that is what LR told us when he said it was postponed to next week. But as far as funding announcement goes....who knows when it will happen....but as the saying goes...if you can’t dream it ...it will never happen...:-) I prefer to dream it :-)

The balance sheet will drive this SP in future not sentiment imo.

Maths my dear...the 100 million will be used to firm up our asset....it will be on our books. If we have 100 million in our books divide by 49 million which is the number of shares in issue and what do you get ?

A 100million grant to build the mine and we will be at 2 quid overnight IMO :-)
Rome was not built in a few days....:-)

All very positive signs imo Money....press conference and film crew? A value event perhaps ?

Yes. I agree Sheds...but we could also still be in this batch..
“Within the Recovery Plan, the ITJ will obtain an additional financing of 300 million euros for actions aimed exclusively at the just transition areas for the period 2021-2023.”
300 million is a lot of money....let’s wait and see. I expect big news soon like everyone else here I suspect :-)

I found the list...our project does not seem to be on there. Maybe we are one of the unsigned 5.
https://www.miteco.gob.es/images/es/itjtodoslosproyectos2013-2018_tcm30-520496.pdf

Unfortunately the link to view the approved projects has been removed from the article...for obvious reasons I guess ...:-)

More detail.... GLA.
Aid for municipalities for 110 million euros in 2020

Last December the ITJ awarded more than 110 million euros to finance 75% of the investments necessary to carry out 99 projects for the reactivation of these territories. The investments are focused on the restoration of areas degraded by mining activity, energy optimization, the improvement of municipal infrastructures, the modernization of industrial estates and the creation of new social service centers.

The Aragonese municipalities received 12 million euros to finance 75% of the 24 approved projects. The total planned investment amounts to 16.1 million.

The municipalities of the Principality of Asturias obtained 69.8 million euros from ITJ to finance the 60 projects, which will involve a total investment of 93.1 million. Of these, 55 have already been signed, while the remaining five will be signed in the coming weeks.

In Castilla y León, the 10 approved municipal projects received direct aid worth 22.6 million euros. The planned investments amount to 30.2 million, in addition to the investment of 24.3 million allocated in 2019 to the restoration of the Nueva Julia mine.

And finally, the four projects to be carried out in the Puertollano area (Ciudad Real) captured 6.1 million euros in aid that will require a total investment of 8.1 million euros.

The list of projects and their geographical location is available at this link.

New aid foreseen in the Recovery Plan

The Institute for Just Transition has several lines of aid open for municipalities affected by the energy transition, both from its own funds and through the Recovery Funds. The objective is to support the creation of infrastructures and equipment that promote the generation of new economic activity and employment.

Within the Recovery Plan, the ITJ will obtain an additional financing of 300 million euros for actions aimed exclusively at the just transition areas for the period 2021-2023.

The first line of work, endowed with 100 million euros, will allow the implementation of an environmental, digital and social infrastructure plan in municipalities and territories in transition that will cover the specific needs of each area, already identified through the contributions collected in the participatory processes carried out for the elaboration of the Just Transition Agreements.

In this sense, and in an innovative way, the ITJ will finance the necessary technical assistance so that local entities can present projects to the Recovery Plan, since the first difficulty transferred by the municipalities, particularly the smaller ones, in the consultation processes of the Agreements, is the capacity to elaborate projects.
Source: https://www.diariodeleon.es/articulo/provincia/miteco-adjudica-ayudas-15-proyectos-municipales-zonas-afectadas-cierre-termicas/202105051101442110492.html

Seems like Nueva Julia mine which got 23 million grant in 2019 is very close to Toral .