Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
I'm supportive and agree with you both but how do you interpret all the selling? We now know more compared to the placing and yet the share price hasn't risen and there's a LOT of selling going on at the moment.
Great news tradeuk. I can never understand the price for this company. Currently I can sell for 12.8 or I can buy for 12.65. No wonder it is traded so much? Given the news, who has a been topping up recently?
Bobby if the company isn't ready to release news all we can do is research ourself. Boots on the ground in Spain seem to be a much better source of informacion and there's nothing to say it isn't trustworthy.
Not all news has to be put in an RNS and if there is nothing material yet it's understandable the company hasn't updated the market. What the local papers do suggest is that a lot of work is underway so I'm sure news will be released in the next couple of months.
Based on this I feel we have an exceptional opportunity here. Local support is positive and using the project as an educational/research hub is a clever strategy to attract support. Honestly I believe we are on the verge of something special here
Next part
Once the mineral has been crushed, it will go through the flotation process, whereby «first the lead and then the zinc are separated from the rest of the ground material, concentrating from an initial grade of around 4% to a grade of around 61 % in the case of Zn concentrate and 70% in the case of Pb ». The process ends with the processing of the residue to deposit it dry in a dump on the surface and wet back to the mine.
The product is transported by truck in bulk to a smelter, such as the one in Castrillón (Asturias) , to obtain high-purity zinc, lead and silver after refining.
Currently, the Europa Metals projectIt is in a time of Exceptional Extension for three years to maintain the investigation and it has already been presented to the City Councils of Sobrado, Carucedo, Toral de los Vados, Carracedelo and Borrenes. Until November 15, 2023, Europa Metals will continue designing its mining project in Toral in order to present the application for an Exploitation Concession in the shortest possible time.
The consulting firm Bara Consulting has been developing its conceptual study of the project especially in the areas of metallurgy, resource estimation and geotechnics, something that will be released to give birth to a Pre-Feasibility Study (PFS). Within this study, the company Sondeos y Perforaciones Industriales del Bierzo SA (SPI)has been conducting a new drilling campaign since the beginning of this year.
With the data from this survey, the data will be processed to develop software "that corrects the deviation of the surveys carried out by drilling with core recovery," they explain from the company. At the same time, the company seeks support for its project as a focus of R&D.
In this sense, he assures that professors from the Faculties of Biology or Geology of the University of Salamanca, of Biodiversity at the University of León , as well as of the Miguel Hernández University of Elche , and researchers from departments such as Biodiversity and Environmental Management, through departments such as Ethnobotany, Taxonomic and Plant Conservation at the University of León or Mineralogy, Petrology of the Complutense of Madrid, contribute from the academic field their technical solvency to contribute to the technical, social and environmental standards of the called Project Toral.
An interesting article I found - I give you an English translation below: https://www.lanuevacronica.com/europa-metals-se-prepara-para-producir-zinc-plomo-y-plata-en-toral-desde-2023
Europa Metals prepares to produce zinc, lead and silver in Toral from 2023
The multinational has already invested 5 million in the Berciano project, which is currently under investigation and plans to hire 200 employees
The company Europa Metals Iberia SL, a subsidiary of Europa Metals Ltd, a company registered in Australia, intends to land in Toral de los Vados with a project to produce zinc, lead and silver in El Bierzo, an idea that is in the research phase and that it could go live in three years.
Under the name of Proyecto Toral, the multinational frames its most important business activity in Castilla y León in El Bierzo . Since 2007 it has studied the recovery of an enclave that has taken advantage of previous studies from the 1980s. By relying on a previous mining operation "the visual impact of the project is drastically reduced", explains the company.
After mapping the exploitation and examining the geochemistry of the soils, the works have determined «anomalies in Zn, Pb and Ag whose extension has been verified with surveys. In total, more than 100 mining research wells have been carried out, with depths of up to 1,285 meters ”. These works define a “mineral deposit of about 3 kilometers in length and variable thickness around 3 meters. The recognized depth is about 900 meters although the deposit is open in depth.
15 years of activity and 2oo jobs
The deposit contains around 16 Mt of mineral , according to the first studies and an extraction of 450,000 tons per year of mineral is expected as a base - with the possibility of being expanded. That offers a project life of about 15 productive years but it will take between 2 and 3 years for its construction.
Annual production is estimated at 16,500 tons of zinc, 15,000 tons of lead and 8,000 kilograms of silver . As for the employment that you will need to carry out the project, it will be 200 workers directly.
The investment made by Europa Metalsso far it exceeds 5 million euros. The idea is that half of the waste generated will return to the mine and the surface deposited is expected to be around 2.6 Mm3. The exploitation method takes into account the filling of the interior of the mine with the waste generated.
Access to the mine will be through a ramp and shaft and the method that is being evaluated as the most appropriate is mechanized cut and fill . Once mined, the ore will ramp up to the crusher on the upper levels. For most of the deposit, the mineral will be extracted by means of a well, which will give way to the belt that reaches the processing plant.
Regarding options and warrants the Landore website has this but not sure it is up to date
https://www.landore.com/info.php
Guys, I've got to say that I agree with a lot of this. The Europa comparisons to CAML with not a lot/any context on Twitter don't seem particularly professional and I'm not a fan of teasing a 'major value event for shareholders' without providing a lot of information and then going completely silent.
I know this is common with AIM miners but I'd rather the management team 'grew up' like they stated the company should be doing last year and provide timely updates on the strategy for the project and progress against milestones. Maybe they just need some PR help?
So the trading update today is interesting. Overall it reads like a bit of an apology for the 'lost' year but very positive for the coming year...although we've been here before.
The potential is huge, if some of those contracts finally come in but a loss of around £6m this year and cash of around £5m as at end of March, with debt repayments now due until 2023 scares me a bit. Are we still optimistic for the future?
Annual report released today. The outlook section seems a bit light and at first glance no significant mention of an offtake agreement. I thought we were meant to hear about this by end of Q1 2021?
https://horizonteminerals.com/uk/en/press-releases/2021/final-results-for-the-year-ended-31-december-2020/
tradeuk thanks for the trade data this morning. out of interest where did you get this from? I must analyse the data in a bit more detail.
I'm starting to feel that someone knows something and bought in big, sparking the rally recently. Or maybe we just have a relatively large investor on board now that fancies this as being undervalued. The tone from LR has really increased in positivity recently so reason to be confident here. I'd love for them to keep the updates flowing and to be clear on strategy to the extent they can be
If EU funding could be negotiated that really would be a remarkable achievement - far, far above any expectation I had little Europa. I continue to believe we are incredibly undervalued (perhaps due to the perception shareholders have been repeatedly let down and because many larger investors won't touch such a small company) but news like this could really highlight the company to a wider pool of investor.
I do think there will be a placing at some stage but as long as loyal shareholders can participate I don't see that as a negative - it's part of investing in a mining co and we need to feed it cash to achieve our end goal. I will have complaints if the discount is bigger than 10% and if it is restricted to high net worth individuals.
Another tweet this morning, which hint about news: Zinc commentary summary this morning, the green drivers for zinc adding to the existing demand. Meanwhile drilling continues at Toral & will update once results processed and received from labs- targeting upper zones/first years of mine life #euz
With all these big trades it does seem like people are accumulating shares. All the twitter activity is promising too and I continue to believe we'll receive a full update on the project when (or even before) the interim report is released.
In 2020 this was 30 March but we had an update a few days before. In 2019 the Q2 report was released on 15 March but again there was an update a few days before. Of course, not to say we will have an update again this year but will results so soon there won't be too long to wait for news (I believe they have to release by the end of March anyway as the period end was 31 December).