MetalsTech’s Sturec Project Shows US$768M NPV with PFS on Track for H1 2026
MetalsTech Limited is progressing its Pre-Feasibility Study for the Sturec Gold Mine in Slovakia, targeting completion in the first half of 2026, alongside key board appointments aimed at driving the project forward.
- Pre-Feasibility Study (PFS) on track for H1 2026 completion
- Detailed metallurgical test work underway to refine mine plan and plant design
- Robust updated scoping study shows pre-tax NPV8% of US$768 million and IRR of 162%
- New Executive Chairman Trevor Benson and Executive Director Chris Dai appointed with performance incentives
- Strong JORC Mineral Resource of ~2.7 million ounces gold and 22.2 million ounces silver with exploration upside
Progressing the Sturec Gold Mine
MetalsTech Limited (ASX, MTC) has reported steady advancement in its Pre-Feasibility Study (PFS) for the 100% owned Sturec Gold Mine in Slovakia. The company remains on track to complete this critical milestone in the first half of 2026, a step that will significantly de-risk the project and pave the way for future development and strategic partnerships.
The Sturec project boasts a substantial JORC (2012) Mineral Resource of approximately 2.7 million ounces of gold and 22.2 million ounces of silver. An updated scoping study released late last year highlighted the project's strong economics, with a pre-tax net present value (NPV) at an 8% discount rate of US$768 million and an internal rate of return (IRR) of 162%, underscoring its potential as a high-value underground mining operation.
Metallurgical Testing and Technological Enhancements
During the December quarter, MetalsTech completed in-adit channel sampling across multiple locations within the ore body, with assay results guiding the selection of samples for detailed metallurgical test work. This testing, being conducted by ALS Metallurgy in Perth and supplemented by additional work in China, aims to refine recovery rates and optimise the process flowsheet.
Innovations such as ore sorting technology are being integrated into the PFS design to enhance economic recoveries and reduce infrastructure demands. Additionally, the use of dry stack tailings is planned to minimise the environmental footprint, aligning with the company's commitment to sustainable mining practices.
Strategic Board Appointments
In a move to strengthen leadership, MetalsTech appointed Trevor Benson as Executive Chairman and Chris Dai as Executive Director in January 2026. Both bring extensive experience in mining, finance, and cross-border investment, with incentives tied to key project milestones including the finalisation of a Definitive Feasibility Study (DFS) for Sturec.
Mr Benson’s background spans over 30 years in resource and finance sectors, including mergers and acquisitions and capital market transactions across multiple continents. Mr Dai brings over 15 years of expertise in gold project investment and operational management, currently serving as General Manager of Shanghai Huitong Energy Co., Ltd.
Financial Position and Outlook
MetalsTech reported cash and cash equivalents of $36,000 at the end of December 2025, with operating and investing cash outflows related to ongoing PFS consulting, metallurgical testing, and exploration activities. The company has not reported any financing cash inflows during the quarter, highlighting the importance of securing future funding to support project advancement.
The completion of the PFS is expected to attract significant strategic interest from potential funding and offtake partners, particularly given the historically high gold and silver prices. MetalsTech’s focus remains on unlocking the value of the Sturec Gold Project and delivering maximum returns for shareholders.
Bottom Line?
As MetalsTech nears PFS completion and strengthens its leadership, the market will watch closely for funding developments and metallurgical results that could unlock Sturec’s full potential.
Questions in the middle?
- When will the detailed metallurgical test work results be released, and how might they impact the final PFS outcomes?
- What are MetalsTech’s plans to address its low cash position and secure necessary funding for project development?
- How will the new executive leadership influence MetalsTech’s strategy and engagement with potential partners?
