|
Europa Metals Ltd - Europe-focused lead-zinc and silver developer - Shares resume trading on Monday on the AIM market in London, after Europa abandons its bid to acquire the Tynagh project in Ireland. The brownfield project for lead, zinc, copper and silver is owed by Viridian Metals Ireland Ltd. In September last year, Europa said it had signed a conditional term sheet to acquire Viridian Metals and entered into a 150-day period of exclusivity to do so. On Monday, Europa says the period of exclusivity has now expired and it has decided not to extend the exclusivity. The Tynagh project has ‘significant positives’, Europa says. This warranted work to source the funding for near-term feasibility work, which then would evolve to permitting and development. ‘Unfortunately, the company has been unsuccessful in this endeavour,’ Europa says. It now will pursue other opportunities. Under AIM rules, Europa has six months from its disposal of the Toral project on November 13 last year - meaning May 13 - to make an acquisition that constitutes a reverse takeover, or its shares will be suspended from trading again. Europa shares have continued to trade in Johannesburg throughout their recent suspension in London. Current stock price in Johannesburg: 32 rand cents 12-month change: up 10% Current stock price in London: 1.84 pence 12-month change: up 15% Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
