Market's view on Europa Metals
Published on April 2024
- Europa Metals Ltd focuses on exploring and producing iron ore and zinc, particularly in South Africa and Spain.
- Concerns raised about the company’s stock decline from 15p to 1.6p, needing a 937% rise to return to its pre-Denarius levels.
- A notable decline of 23.25% in stock price observed from end of November to date.
- Updates from the annual general meeting presented, describing plans for 2024 including a 7,000m drilling project combining Antonina and Toral and a preliminary economic assessment over Toral.
- Statements from Europa Metals highlight successful technical improvements on the Toral project and the partnership with Denarius, including the submission of a Mining Licence Application.
- The market capitalisation of Europa Metals is considered extremely low at £1.95m despite significant investment in Toral.
- Reports of a £52m accumulated loss, with minimal exploration expenditure expected in the second half of the year.
- Plans for a Preliminary Economic Assessment and a Pre-feasibility Study following the Mining Licence Application are in progress.
- Previous updates have shown an increase in Indicated Mineral Resource tonnes and grade for Toral.