Europa Metals Ltd - Europe-focused lead-zinc and silver developer - Says it is on ‘more solid footing’ after completing a transaction, rather than go to the market. Reveals no further details about the transaction. Notes that its shares have declined ‘considerably’ since they resumed trading on the AIM market in London on Monday this week. It returned to AIM after it abandoned its bid to acquire the Tynagh project in Ireland. Shares hit an intraday low of 1.000 pence on Tuesday. They had opened at 1.2400p on Monday.
Europa says on Friday it believes that there is a ‘major’ disconnect between its share price and the implied net asset value represented largely through its holding in Denarius Metals Corp. It holds 7 million shares in Denarius. Over the coming months, Europa will pursue all options to deliver the best possible outcome for all shareholders.
Current stock price in London: 1.555p, up 30% on Friday afternoon
12-month change: up 2.3%
Current stock price in Johannesburg: 32 rand cents
12-month change: up 10%
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