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Corporate update
Europa Metals Ltd
(Incorporated and registered in Australia and registered
as an external company in the Republic of South Africa)
(Registration number 4459850)
(External company registration number 2011/116305/10)
Share code on AIM: EUZ
Share code on the JSE: EUZ
ISIN: AU0000014342
("Europa Metals", "Europa", the "Company" or the "Group")
Corporate update
Europa Metals, ("Europa" or the "Company"), provides a corporate update.
As announced on 17 February 2025, the Company decided not to extend exclusivity over
the Tynagh project via Viridian Metals Ireland Limited and the Company's shares resumed
trading on AIM on 17 February 2025.
The Company is very aware that, since the resumption of trading on AIM, the share price
has declined considerably, however the Company is not aware of any reason for this decline.
To the contrary, the Company believes that there is a major disconnect between the
Company's share price and the implied net asset value represented largely through its
holding in Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius"), as
further detailed below.
The transaction with Denarius was duly approved by a considerable majority of Europa
shareholders at the extraordinary general meeting held in October 2024 and, as previously
stated, Europa is subject to a holding period ending 13 March 2025 in respect of the 7 million
shares it received in Denarius pursuant to the transaction (see announcement published on
13th November 2024). This holding at recent pricing implies a value of between 2.5p and 3p
per Europa share.
Europa has not undertaken a capital raising in over 2 years and accordingly, has not diluted
its shareholders in pursuit of capital. During this time the directors have been substantially
accruing their fees/salaries (which is reflected in Note 19 to the Company's 2024 Annual
Report) to provide the Company with a long enough runway to complete a transaction.
The Company, rather than go to the market and raise funds at a significant discount to the
detriment of existing shareholders, have completed a transaction which now puts Europa on
a more solid footing and offers optionality to the Company.
Over the coming months, management will pursue all options to deliver the best possible
outcome for all shareholders, and will update the market in due course.
Pursuant to AIM Rule 15, the Company has six months from its disposal of the Toral Project,
as announced on 13 November 2024, to make an acquisition or acquisitions which
constitutes a reverse takeover under AIM Rule 14.
For further information on the Company, please visit www.europametals.com or contact:
Europa Metals Ltd
Dan Smith, Non-Executive Director and Company Secretary (Australia)
T: +61 8 9486 4036
E: dsmith@europametals.com
Myles Campion, Executive Chairman and acting CEO (UK)
E: mcampion@europametals.com
Beaumont Cornish (Nominated Adviser/Broker)
James Biddle/Roland Cornish
T: +44 (0) 20 7628 3396
Questco Corporate Advisory Proprietary Limited (JSE Sponsor)
Danielle Christodoulou
T: +27 63 482 3802
United Kingdom
21 February 2025
The information contained within this announcement is deemed by the Company to constitute inside information as
stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law pursuant
to the European Union (Withdrawal) Act 2018, as amended.
Nominated Adviser
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by
the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise
and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers,
are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other
persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the
proposed arrangements described in this announcement or any matter referred to in it.
Date: 21-02-2025 09:00:00
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