Denarius Metals to Acquire Emerita Resources to Scale Up Critical Minerals in Iberian Pyrite Belt
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Denarius Metals said it has delivered a letter to the board of directors of Emerita Resources outlining a proposal to acquire all of the issued and outstanding common shares of Emerita.
“We believe the proposed acquisition would be accretive to both Emerita’s and Denarius Metals’ shareholders. IBW’s metallurgical profile is compatible with Denarius Metals’ existing Spanish operations. A combination of the two companies would create the potential to scale up available resources in the Iberian Pyrite Belt and to consolidate the processing of Emerita’s IBW material in the Aguablanca processing facility operated by Denarius Metals, thereby deferring or eliminating the capital expenditures otherwise required by Emerita to construct a standalone processing facility at IBW,” said Serafino Iacono, executive chairman of Denarius Metals.
“Additionally, Denarius Metals has established a joint venture with ProGrowth, a diversified group of companies based in the Kingdom of Saudi Arabia, that is intended to provide a refining and trading platform in Saudi Arabia for concentrates from the combined Spanish portfolio,” added Iacono.
“A combination of Denarius Metals and Emerita would create a scaled Iberian Pyrite Belt platform with diversified cash flow from Denarius Metals’ producing Zancudo Project in Colombia, near‑term processing optionality at Aguablanca, and long-term access to a Saudi Arabian refining and trading channel,” concluded Iacono.
Denarius Metals operates four projects across Colombia and Spain, including the Zancudo gold‑silver project in Colombia, which is now in production, and the Aguablanca nickel‑copper, Lomero polymetallic, and Toral zinc‑lead‑silver projects in Spain. Two of these projects, Aguablanca and Lomero, are located near IBW, Emerita’s principal project.
Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development, and eventual operation of precious metals and polymetallic mining projects in high-grade districts in Colombia and Spain. In Colombia, Denarius Metals is producing gold and silver in an early production phase at its 100 percent owned Zancudo Project. In Spain, Denarius Metals has interests in three projects focused on in-demand critical minerals.
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