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european electric metals inc (EVX) Details

European Electric Metals Inc. engages in the acquisition and exploration of natural resource properties in Albania, Kosovo, and Portugal. The company holds a mining license in the Rehova copper project located in Albania. It also explores for nickel and cobalt deposits. The company was formerly known as Tirex Resources Ltd. and changed its name to European Electric Metals Inc. in January 2018. European Electric Metals Inc. was founded in 2006 and is headquartered in Vancouver, Canada.

european electric metals inc (EVX) Top Compensated Officers

CEO, President, VP of Exploration & Director
Total Annual Compensation: C$290.0K
Chief Financial Officer
Total Annual Compensation: C$120.0K
Compensation as of Fiscal Year 2018.
european electric metals inc
European Electric Metals Inc. Announces Resignation of Mr. Fred Sveinson, Director

European Electric Metals Inc. announced that Mr. Fred Sveinson has resigned as a Director of the Company, while remaining as an Advisor.

European Electric Metals Receives Certificate of Renewal of Rehova Mining License

European Electric Metals Inc. reported that the Company has received the renewal certificate of its mining license (“certificate) covering Rehova Copper Project. The certificate was issued on March 27, 2019 by the National Agency of Natural Resources (AKBN) of Albania. Based on the results of drilling the Company conducted in 2018 and the geological modelling conducted by Wood Canada Limited, EVX believes there is potential for expanding the known mineralization in Rehova below the known mineralization as well as laterally (please refer to the Company’s website for the 2018 drilling results). With the certificate issued, the Company plans to conduct further drilling using geophysical tools such as ground magnetics and downhole TEM survey to confirm drill targets. Downhole TEM survey have been successful in finding off-hole section and depth extensions of blind mineralization on other projects. Recent examples include the discovery of large massive sulphide lenses with this method in the Iberian Pyrite Belt both in Portugal (Semblana in the Neves Corvo camp) and in Spain (Deep Magdalena lens, East of Aguas Teñidas mine). The plan to do further exploration is subject to the approval of the request by the Company to the licensing authorities to extend the exploration period within the license area for a period of three years. The Company is also planning to conduct exploration outside of the license area, subject to the acquisition of exploration grounds around it. The Company believes there is potential for finding separate deposits outside of the license area based on the presence of several VMS prospects, some of which intersected copper mineralization in previous drilling. With the renewal of the Rehova license, the Company now has two advance properties it will be focusing on; the cobalt-rich Skroska nickel laterite mine and Rehova copper project.

European Electric Metals Inc. Reports Earnings Results for the Third Quarter Ended January 31, 2019

European Electric Metals Inc. announced earnings results for the third quarter ended January 31, 2019. For the third quarter, the company announced operating loss was CAD 839,311 compared to CAD 581,335 a year ago. Net loss was CAD 839,474 compared to net income of CAD 8.895 million a year ago. Basic loss per share was CAD 0.02 compared to basic earnings per share of CAD 0.65 a year ago. Diluted loss per share was CAD 0.02 compared to diluted earnings per share of CAD 0.4 a year ago. For the nine months, operating loss was CAD 2.344 million compared to CAD 868,178 a year ago. Net loss was CAD 2.357 million compared to net income of CAD 8.449 million a year ago. Basic loss per share was CAD 0.06 compared to basic earnings per share of CAD 0.6 a year ago. Diluted loss per share was CAD 0.06 compared to diluted earnings per share of CAD 0.4 a year ago.

 

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