REG - European Green Trns. - Option Agreement to Sell Pajala Copper Project

European Green TransitionAnnouncement

30/10/2025 07:00

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RNS Number : 3985F  European Green Transition PLC  30 October 2025

30 October 2025

European Green Transition plc

("European Green Transition", "EGT" or "the Company")

 

Option Agreement to Sell Pajala Copper Project

 

European Green Transition (AIM: EGT), a company seeking to acquire and
transform revenue stage businesses supporting the green energy transition in
Europe, announces that it has entered into an exclusive option agreement (the
"Option") with Recovery Metals Cyprus Limited ("RMC") to sell its Pajala
Copper Project in Sweden.

 

Highlights

·    EGT has entered into an exclusive six-month option agreement with RMC
for the potential sale of the Liviövaara nr 101 and Lehtosölkä nr 101
exploration licences (together, the "Pajala Copper Project") in northern
Sweden.

·    The Pajala Copper Project represents a potential Iron Oxide Copper
Gold (IOCG) target, with historical drilling confirming copper mineralisation
across multiple intersections.

·    Anglo American, a previous operator, completed a nine-hole diamond
drilling programme at the project, identifying broad intervals of copper
mineralisation indicative of an IOCG system with the potential to host a
significant copper deposit.

·    RMC, a privately held company incorporated in Cyprus, is focused on
developing a pan-European portfolio of high-potential copper and gold
projects. Its current portfolio comprises three fully licensed copper projects
located in Cyprus with immediate development potential.

·    Under the terms of the option agreement, RMC will fund all due
diligence activities during the six-month option period.

·    Should RMC choose to exercise the option, the acquisition of the
Pajala Copper Project would be subject to the successful negotiation and
execution of definitive transaction documents. There can be no certainty that
the option will be exercised or any transaction concluded.

·    The Company will provide further updates to the market as
appropriate.

 

Cathal Friel, Co-founder and Non-Executive Chairman, commented: "We are
pleased to have signed an exclusive option agreement with RMC for the proposed
sale of our Pajala Copper Project in Sweden, marking a significant step in the
execution of our strategy to generate value from our mining portfolio. The
agreement provides RMC with sufficient time to complete its due diligence on
the project, supported by their team who have prior operational experience in
the region.

 

"Copper prices are approaching record highs, underpinned by limited supply and
strong market fundamentals. Growing investment in electrification and clean
energy technologies together with policy measures such as the EU Critical Raw
Materials Act which seeks to ensure a stable supply of critical minerals to
the European market, is driving sustained demand for both copper and rare
earth elements (REEs), reinforcing the potential strategic importance of EGT's
mining assets within the European supply chain. This potential transaction
reinforces our approach to capital allocation as we continue to focus our
resources on monetising our existing mining projects and acquiring and
developing distressed, revenue-generating businesses across a diverse range of
sectors."

 

About the Pajala Copper Project

The Pajala Copper Project comprises three contiguous exploration permits
covering an area of approximately 51.17 km². These permits are held 100% by
Rockfleet Minerals Limited, a wholly owned subsidiary of EGT, and are
unencumbered by royalties. The project lies 21 kilometres from the
Kaunisavaara iron ore mine in the Pajala district of Norrbotten County,
benefiting from well-developed local infrastructure and access to abundant
renewable energy sources. Historical exploration by Anglo American between
2000 and 2001 included nine diamond drill holes totalling 1,768.9 metres, with
several intercepts indicating copper and gold mineralisation. Notable results
include 5.45 metres at 1.23% Cu and 1.13 g/t Au (hole 00LIV001), 10.5 metres
at 0.28% Cu (hole 00LIV004), and 10.75 metres at 0.5% Cu (hole 01LIV009).
These findings suggest the presence of a potentially significant IOCG-style
system, underscoring the project's strong copper potential.

 

  Enquiries

 

 European Green Transition plc                     +44 (0) 208 058 6129

 Cathal Friel, Executive Chairman

 Jack Kelly, CFO

 Panmure Liberum - Nominated Adviser & Broker      + 44 (0) 20 7886 2500

 James Sinclair-Ford / Gaya Bhatt

 Mark Murphy / Rauf Munir

 Camarco - Financial PR                            + 44 (0) 20 3757 4980

 Billy Clegg, Elfie Kent,                          europeangreentransition@camarco.co.uk

Lily Pettifar, Poppy Hawkins                     (mailto:europeangreentransition@camarco.co.uk)

 

Notes to Editors

European Green Transition plc (quoted on the AIM market of the London Stock
Exchange under the ticker "EGT") is a company which aims to capitalise on the
opportunities created by the green energy transition in Europe. EGT is seeking
to monetise its existing portfolio of mining projects through sale or
partnership as it looks to allocate its resources away from natural resources
and mining to focus on acquiring and transforming distressed, revenue
generating businesses through M&A.

 

For more information, please go to  www.europeangreentransition.com
(https://www.europeangreentransition.com/)   or follow us on X (formerly
Twitter ) (https://twitter.com/EuropeanGreenT)  and LinkedIn
(https://www.linkedin.com/company/european-green-metals-ltd) .

 

 

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