Europa Metals waiting to wrap up Antimony takeover, Australian listing

Europa Metals Ltd said on Wednesday it may need to raise additional funds for further acquisition or acquisitions.

The mineral exploration company became a cash shell after selling the Toral zinc-lead-silver project in Spain to Denarius Metals Corp in November 2024.

After failing to conclude a reverse takeover within six months, its shares were suspended from trading on the AIM market in London in May 2025, before delisting from London this past February.

Europa early in June agreed to acquire Antimony Ventures Europe Pty Ltd, gaining access to a suite of what it called "highly prospective" antimony and gold assets in Austria. Shareholder endorsed this deal early this month, and also approved capital raising, transfer of primary listing to the Australian Securities Exchange from the Johannesburg Stock Exchange, and share consolidation.

The company said it will have sufficient funding to meet with corporate needs over 24 months from closing the share offer. After listing on the ASX, it said it may need to raise additional funds via a debt or equity for a further acquisition or acquisitions after listing on the ASX.

The completion of the Antimony Ventures acquisition, issue of public offer securities and ASX admission remain subject to conditions.

As at June 30, cash and cash equivalents was AUD637,721, down from AUD1.4 million at June 30, 2925.

In its financial results, Europa reported net loss of AUD399,529 for the 12 months that ended June 30, swung from a profit of AUD3.1 million a year before.

Basic loss per share was AUD0.39, swung from earning per share of 3.19 cents.

Looking further ahead, Europa said its depends on its projects, which are the sole potential source of future revenue, and any adverse development affecting these projects would have a material adverse effect on the group.

Shares in Europa ended flat at ZAR4.17 on Wednesday in Johannesburg.

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