Sturec Gold Project Shows US$768M NPV as MetalsTech Raises A$3.3M

Strategic Capital Raise Bolsters Sturec Development

During the March quarter, MetalsTech Limited (ASX: MTC) secured a strategic placement raising A$3.3 million before costs. This capital injection is earmarked to advance the Pre-Feasibility Study (PFS) for the 100% owned Sturec Gold Mine in Slovakia and to strengthen the company’s balance sheet amid ongoing development activities. The placement involved two ultra-high net worth investors subscribing at prices between 12 and 15 cents per share, reflecting confidence in the project’s potential.

Progressing the Pre-Feasibility Study with Mining One

MetalsTech continues to work closely with its PFS manager, Mining One, to refine the project’s technical and economic parameters. During the quarter, Mining One’s technical team conducted a site visit to review historical drill core and inspect underground workings at the Andre adit, as well as regional exploration prospects. This hands-on approach supports the detailed mine development planning, process plant design, and infrastructure layout that are well advanced.

Additional metallurgical testwork is underway to validate and enhance historical data, aiming to improve confidence in ore recovery rates and process design. Notably, the company is exploring technological advancements in ore sorting, which could increase operational recoveries and overall grade, thereby positively impacting project economics.

Robust Resource Base and Economic Outlook

The Sturec Gold Mine remains MetalsTech’s flagship asset, boasting a JORC (2012) Measured, Indicated, and Inferred resource of approximately 2.7 million ounces of gold and 22.2 million ounces of silver. An updated scoping study underscores the project’s robustness, indicating a pre-tax net present value (NPV) at 8% discount rate of US$768 million and an internal rate of return (IRR) of 162%, based on an underground-only mining operation.

This strong economic profile is further supported by the current historically high gold and silver prices, which have attracted significant inbound interest in the Sturec project. MetalsTech is focused on completing the PFS by year-end, a milestone expected to unlock substantial shareholder value and pave the way for subsequent development phases.

Financial Position and Operational Cash Flow

Despite the capital raise, MetalsTech’s cash position at quarter-end was modest, with A$31,000 in cash and equivalents. Operating cash outflows were A$57,000, primarily covering administration and staff costs, while investing outflows of A$114,000 related to exploration and PFS activities. Financing inflows included loan proceeds from directors and major shareholders totaling A$164,000.

The company’s ability to manage its cash runway and secure further funding as needed will be critical to sustaining momentum through the PFS completion and beyond.

Looking Ahead

MetalsTech’s strategic focus remains on unlocking the full potential of the Sturec Gold Mine, leveraging its substantial resource base and advancing technical studies to support a viable underground mining operation. The integration of new ore sorting technologies and ongoing metallurgical improvements could further enhance project returns.

With the PFS expected before the end of 2025, the coming months will be pivotal in defining the project’s pathway to production and attracting further investment interest.