- Denarius Metals Corp. (DSLV) has signed an option agreement with Europa Metals Ltd
- The terms of the agreement grant Denarius Metals options to acquire, in two stages, up to an 80-per-cent ownership interest in Europa Metals Iberia S.L. (EMI)
- The terms of the agreement grant Denarius Metals options to acquire, in two stages, up to an 80-per-cent ownership interest in Europa Metals Iberia S.L. (EMI)
- Denarius Metals Corp. is a Canadian junior company
- Denarius Metals Corp. was unchanged at C$0.63 at 11:02 AM ET
Denarius Metals Corp. (DSLV) has signed an option agreement with Europa Metals Ltd.
The terms of the agreement grant Denarius Metals options to acquire, in two stages, up to an 80-per-cent ownership interest in Europa Metals Iberia S.L. (EMI).
Europa Metals Iberia S.L. (EMI) is a wholly-owned Spanish subsidiary of Europa, which holds the Toral Zn-Pb-Ag Project, Leon Province, Northern Spain.
“We are very pleased to expand our scale in Spain through our partnership with Europa to develop an exciting high-grade polymetallic project located in a well-mineralized historic mining area and a proactive jurisdiction that also offers the potential for further exploration opportunities,” stated Serafino Iacono, Executive Chairman and CEO of Denarius.
“The first year will see an application being made for a mining license at the Toral Project, thereby moving the project along the path towards potential future development,” he added.
In line with the agreement, Denarius Metals has been granted a first option, exercisable until November 22, 2025 (subject to a 90-day extension in certain circumstances), to subscribe for a 51-per-cent equity interest in EMI.
In addition, the definitive agreement provides Denarius Metals with a second option to acquire an additional 29-per-cent equity interest in EMI by delivering a pre-feasibility study and making a cash payment of US$2,000,000 to Europa within the 12-month period following the closing of the first option.
On exercise of the second option, the parties will enter into a joint venture and a shareholders’ agreement that will govern the development and eventual operation of the Toral Project.
Denarius Metals Corp. is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of polymetallic mining projects in high-grade districts, with its principal focus on the Lomero Project in Spain.
Denarius Metals Corp. was unchanged at C$0.63 at 11:02 AM ET.
