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01 Oct 2019 | 14:49

Europa Metals losses deepen due to exploration spending

Europe-focused zinc explorer Europa Metals booked a deeper full-year loss owing to higher exploration spending.

Pre-tax losses for the year through June amounted to $2.4m, compared to losses of $1.9m on-year.

'The first half of 2019 saw Europa Metals adapt to challenging equity market conditions and lay the foundations for what has been a successful exploration programme,' chairman Colin Bird said.

Bird said the company had recently completed, and announced assay results in respect of its latest drill campaign into the high-grade area of its Toral lead, zinc and silver project in Spain.

'The company is targeting its first independent Indicated JORC (2012) resource estimate and awaiting metallurgical testwork results in order to make an initial determination of potential future concentrate products to enable preliminary marketing discussions to occur with third party concentrate buyers such as smelters and trading houses,' he said. At 2:49pm: (LON:EUZ) Europa Metals Ltd Ord Npv Di share price was +0p at 0.03p

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