Ferrum Crescent Ltd's (LON:FCR) executive director Laurence Read talks to Proactive about plans to raise ?1mln to advance its Toral project in northern Spain and a name change to Europa Metals Limited.
The funds will be used in three distinct stages, with a drilling programme to start in the summer to look for additional metal along the current strike.
A scoping study is also planned to get a rough idea of the economics and if it is a viable project while metallurgical work will also be undertaken to better understand the deposit.
The name is being changed because "We've got nothing to do with iron anymore," Read explained.
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