Toral Metals Iberia

Europa Metals Iberia, S.L (EMI) is a wholly-owned Spanish subsidiary of Europa Metals Ltd. and holds a 100% interest in the Toral Project in the Leon Province in northern Spain. Europa Metals is a lead-zinc exploration company focused exclusively on European projects. Europa Metals is quoted/listed on AIM and AltX of the JSE under the ticker code EUZ and is an Australian registered Company.

In November 2022, Denarius Metals entered into a Definitive Agreement with Europa Metals pursuant to which Denarius Metals can acquire up to an 80% ownership interest in EMI through two options as follows:

First Option – acquire an intial 51% interest by spending a minimum of US$4 million over three years, completing a PEA and completing/submitting a mining license application to the local mining authority in 2023.

Second Option – acquire an additional 29% interest by paying US$2 million to Europa Metals within 12 months following exercise of the First Option and delivering a PFS.

In September 2024, the Company signed a letter of intent with Europa to acquire 100% of EMI in a transaction expected to close by the end of October 2024.

Projects

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