Gold prices steady ahead of Fed decision, Trump’s tariff deadline
LONDON - Europa Metals Ltd (AIM, AltX: EUZ), a publicly traded mineral exploration company, reported a net profit after tax of $4,834,803 for the half-year ended December 31, 2024, a significant turnaround from the net loss of $248,761 recorded in the comparable period of the previous year. The company, currently classified as an ’AIM Rule 15 cash shell,’ released its unaudited results on Friday.
The profit comes on the heels of Europa Metals’ disposal of its Spanish subsidiary, Europa Metals Iberia S.L. ("EMI"), which held the Toral Zn-Pb-Ag Project in the Leon Province, Northern Spain. The sale to Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) was completed on November 13, 2024, with Europa receiving 7 million common shares in Denarius Metals, subject to a hold period ending on March 13, 2025.
The transaction’s closure has reclassified Europa Metals as an ’AIM Rule 15 cash shell,’ giving the company six months to complete a reverse takeover under AIM Rule 14. If unsuccessful, trading of its AIM securities will be suspended. Following the sale, Europa Metals decided not to extend the exclusivity period under a term sheet for the acquisition of Viridian Metals Ireland Limited and its Tynagh brownfield Pb/Zn/Cu/Ag project in the Republic of Ireland.
Shareholders showed strong support for the disposal of EMI during a General Meeting on October 25, 2024, and all resolutions were approved at the Annual General Meeting on November 29, 2024. The company’s decision not to proceed with the Viridian Metals acquisition was announced on February 17, 2025, leading to the resumption of trading on AIM.
Europa Metals reported a consolidated statement of financial position with total assets of $5,631,833 as of December 31, 2024. The company’s financial health has improved, with net assets reported at $4,840,778, compared to $5,975 on June 30, 2024.
The financial statements are part of the Half-Year Financial Report, which is available on the company’s website and the JSE’s website. Investors are advised to refer to the full report, as this announcement does not provide all details. The information in this article is based on a press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.