Europa Metals (AIM:EUZ) has signed an agreement with concentrate marketing agent Conrad Partners, in relation to product from the company’s Toral lead, zinc and silver project in Spain.
The European-focused developer said Conrad Partners will work with Europa to source commercial terms for the potential future supply and sale of concentrate products from Toral.
Conrad Partners is a leading Hong Kong based concentrate agent within the industrial metals space, with a track record of structuring agreements and managing concentrate sales for a series of pre-production and producing companies worldwide, the statement detailed.
Europa believes it prudent to engage with Conrad Partners to access its ‘valuable advice and proven expertise’ in delivering successful offtake relationships for global mining companies.
The company pointed out that the marketing agreement is non-exclusive and thereby permits its Board to pursue other potential product relationships as and when appropriate.
Shares in Europa Metals have seen a significant increase since late July where it was trading at 5p a share and today were trading 10.00% higher at 16.5p following the announcement.
"The Toral lead zinc and silver project has reached the stage where operations can be advanced through the use of the potential concentrate output from the project,” said Laurence Read, CEO of Europa Metals.
He added. “Accordingly, we have been engaged in a process with the Conrad Partners' team over recent months, which has included their review of our project data room.
"The marketing agreement is also in place ahead of our next round of metallurgical results and a new resource, both of which we look forward to announcing shortly."
Europa is currently focused on increasing its understanding of the Toral Project with a new, third phase, metallurgical study, which is being conducted by Wardell Armstrong International.
It believes a pre-feasibility study will enhance Toral’s economics, ‘leveraging the significant amount of work, and positive results, generated over the last two and a half years.’
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