Funding Milestone Clears Path for MetalsTech’s Sturec Gold Development Risks
MetalsTech Limited has received the first tranche of a $3.3 million strategic investment to advance its Sturec Gold Project in Slovakia, underpinning a robust project outlook ahead of its Pre-Feasibility Study completion.
- Received $1.3 million from first tranche strategic placement at 12 cents per share
- Funds allocated to complete Pre-Feasibility Study (PFS) on 2.7Moz Sturec Gold Project
- Second tranche of $2 million at 15 cents per share expected mid-May 2025
- Recent Scoping Study shows strong economics: US$768 million NPV8 and 162% IRR pre-tax
- Focus on unlocking value through PFS and exploration upside with Mining One appointed
Strategic Investment Boosts MetalsTech’s Sturec Gold Ambitions
MetalsTech Limited (ASX: MTC) has confirmed receipt of the first tranche of a strategic investment totaling $1.3 million, marking a significant step forward in funding the advancement of its flagship Sturec Gold Project in Slovakia. The placement was executed at 12 cents per share with a private ultra-high net worth investor, leveraging the company’s existing placement capacity under ASX Listing Rule 7.1.
This injection of capital is earmarked primarily for the completion of the Pre-Feasibility Study (PFS), a critical milestone that will refine the project’s development pathway and underpin future financing and operational decisions. MetalsTech’s recent Scoping Study update painted a compelling picture, highlighting a robust underground mining operation with an estimated NPV8 of US$768 million and an IRR of 162% on a pre-tax basis, assuming a conservative gold price of US$2,500 per ounce.
Strong Project Fundamentals and Growth Potential
The Sturec Gold Project boasts a substantial 2.7 million ounce JORC (2012) Mineral Resource, with significant exploration upside through regional targets and extension drilling beneath the current resource base. MetalsTech’s Executive Director, Gino D’Anna, emphasized the unique investment opportunity the project presents, combining scalable long-term production with considerable growth potential.
With Mining One recently appointed to support the PFS, the company is focused on delivering this next value-accretive milestone before year-end. The strategic investment not only strengthens the balance sheet but also provides working capital to maintain momentum in project development and exploration activities.
Looking Ahead: Second Tranche and Market Context
MetalsTech anticipates closing a second tranche of the strategic investment, valued at $2 million at 15 cents per share, around mid-May 2025. This follow-up funding will further bolster the company’s capacity to advance the Sturec project and capitalize on the current favourable gold price environment, with gold trading above US$3,200 per ounce.
Minmetals Securities Co., Ltd acted as sole advisor to MetalsTech for this transaction, underscoring the strategic nature of the investment and the confidence of sophisticated investors in the project’s prospects.
As the company progresses towards finalising the PFS, investors will be keenly watching for updates on study outcomes and any indications of project financing or development timelines. The Sturec Gold Project’s strong economic indicators and strategic funding position MetalsTech well to unlock significant shareholder value in the near term.
Bottom Line?
With strategic funding secured and a robust project foundation, MetalsTech is poised to unlock Sturec’s full potential as the PFS advances.
Questions in the middle?
- Will the second tranche of $2 million close on schedule and at the expected share price?
- How will the final PFS results impact MetalsTech’s valuation and financing options?
- What exploration results might emerge from extension drilling beneath the current resource?
