MetalsTech Limited (ASX:MTC) Secures $5M Facility and Advances Sturec Gold Mine Development
Financial Update
MetalsTech Limited (ASX:MTC) secured a Pre-Feasibility Study (PFS) and Working Capital Facility of up to $5 million to advance the Sturec Gold Mine in Slovakia. To date, the company has drawn down $1 million, allocating $500,000 for the PFS completion and the remaining for redeemable note repayment, creditor payments, and general working capital.
Operational Achievements
During the quarter, MetalsTech completed a revision of the underground-only Scoping Study, reflecting a revaluation of gold and silver prices and improvements in mining methods and recovery rates. Mining activities officially commenced on 1 December 2024 following the submission of a blasting permit and notification to the Mining Office. Additionally, the company engaged with local stakeholders in Kremnica to enhance communication regarding future developments and undertook maintenance works on historical mining infrastructure.
Scoping Study and Resource Estimates
The updated Scoping Study demonstrated a pre-tax NPV8% of US$768 million and an Internal Rate of Return (IRR) of 162%. The Sturec Gold Mine hosts a JORC (2012) resource of approximately 2.7 million ounces of gold and 22.2 million ounces of silver. The Study supports a nine-year underground mining operation with a plant capacity of 2.3 million tonnes per annum, producing approximately 1.139 million ounces of gold equivalent over the mine life.
Future Outlook
MetalsTech continues to maximize value from the Sturec Gold Mine, focusing on completing the PFS and exploring potential antimony mineralisation. The company remains committed to ensuring environmental compliance and community engagement in the Kremnica region.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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