Empire Metals Investors - EEE

Empire Metals Investors - EEE

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Stock Name Stock Symbol Market Stock Type
Empire Metals Limited EEE London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
0.10 5.97% 1.775 11:36:50
Open Price Low Price High Price Close Price Previous Close
1.675 1.675 1.775 1.775 1.675
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bspgamer: DATE01.09.21The New Empire – Part I "...with the share price once again at rock bottom Empire may still be one to watch if it can find a way of taking advantage of at least one of the several new opportunities it has given itself by undertaking the difficult process of change..." The tough process of transformation embarked upon by gold miner Empire Metals (AIM:EEE), attempting to pivot from a long-time focus on Georgia to fresh assets in Western Australia, has tested the patience of investors. The company's share price has fallen away dramatically over the few years, and its most recent operations update on its flagship Australian venture disappointed many investors. But with a new position carved out in a highly prospective region there may yet be grounds for believing Empire can reinvent itself.The company's previous flagship, a 50pc interest in the Bolnisi Copper and Gold Project in the Caucasus mountains, had been sunk by a long running dispute with the Georgian National Agency of Mines over the extent of the licence. After protracted negotiations with prospective buyers, Empire finally reached an agreement this year to sell its holding for $3.3m to project partners the Caucasian Mining Group.New horizons Messy as it may have been, the sale injected a vital shot of capital into the company's efforts to reorient itself towards Western Australia. Last year Empire took its first big step on its new path by acquiring a 75pc interest in the Eclipse Gold Project, centred on a historic mine located 55 kilometres north-east of Kalgoorlie. The mine, which has changed hands several times since the turn of the last century, was sunk to its current depth of 78 metres in 1910, and has recorded historic production of 954 tonnes at 24.6 g/t gold for 754.25 oz gold. Sporadic re-exploration since the 1990s has hinted at the mine's continued potential. A 2014 drilling programme identified high-grade mineralisation within a 30 metre zone either side of the main Eclipse shaft, and soil surveys have indicated elevated gold concentrations in portions of the Project's mineralised system. Two additional targets have also been identified, the Houdini and Easy prospects, north-west of the main Eclipse shaft. Empire completed a placing last November to raise £2m to support exploratory drilling.Reverse circulation (RC) drilling at the Eclipse shaft and the Houdini prospect last autumn recorded intercepts including 14 metres at 3.78 g/t gold from 22 metres, including 1 metre @ 21.4 g/t gold, and 1 metre @ 16.65 g/t gold, and a second phase early this year confirmed several veins running in parallel to the main Eclipse vein, including an anomalous stockwork style of near-surface mineralisation in the vicinity of old workings called Jack's Dream.Empire doubled down on its Australian focus in May, when it took a controlling interest – also 75pc – in the Central Menzies Gold Project 90 km north-west of Eclipse. The Project, comprising four exploration licences covering a granite-greenstone belt within the Menzies Shear Zone, is circled by the 320,000oz @ 2.1g/t gold Menzies Gold Project operated by ASX-listed Kingswest Resources, and is directly south along the strike of the 15 kilometre Yunndaga line of workings, which has a historic metal inventory of 1.1 million ounces (Moz) of gold. Historic drilling at Eclipse undertaken by previous owner Mel Dalla-Costa, a well known figure on the Western Australian gold scene, encountered several high-grade intercepts including 5 metres @ 19.59 g/t gold from 30 metres, and 3 metres @ 5.15 g/t gold from 35 metres. Under the agreement Empire will spend AUD$500,000 on exploration at Central Menzies within a nine-month option period, with the right to exercise the option for AUD$1.75m in cash and AUD$1.25m worth of shares.Empire pursued another prospect in the region last year, signing a Binding Heads of Agreement with ASX-listed Artemis Resources Limited to acquire a 41pc interest in the Munni Munni Palladium Project in West Pilbara, a 64 km2 exploration licence with a JORC-compliant Resource of 24Mt @ 2.9 g/t Platinum Group Element (PGE) and gold. Empire undertook a brief drilling programme last June, but as with its former Georgian assets, Munni Munni has been troubled by ownership issues. Last summer Artemis was served a writ of summons by its joint venture partner Platina Resources Limited, which claimed that the agreement with Empire breached the terms of the venture. Artemis is defending its position against Platina's claim in an ongoing dispute.Empire changed its leadership in June to reflect its new Western Australian focus, appointing Shaun Bunn as Managing Director, a metallurgist with more than 25 years' experience in the region's gold mining sector.This summer's drilling The company has made progress at both Eclipse and Central Menzies this summer. It started exploring Central Menzies, aiming to verify the RC drilling data it inherited, and to acquire fresh geophysical survey data. Last month Empire reported that soil sampling and analysis of historic drilling data had identified two mineralised corridors with elevated gold concentrations, allowing the company to design a 2,100 metre drilling campaign expected to be completed later this month. Empire anticipates 'adding further drilling targets to the development plan as we complete ... geochemical mapping'.This summer's drilling at Eclipse has sought to test the extent of previously identified mineralised systems, particularly around historic workings at Jack's Dream. In July Empire announced that 19 holes had been drilled for a total of 1,893 metres, and three core diameter drill holes for a total of 201.1 metres, discovering 'several parallel veins in addition to the main Eclipse vein', and confirming intercepts from previous RC drilling. Operations also revealed a previously unidentified mineralised lode, referred to as 'Twin Shafts', running sub-parallel to the Eclipse vein. Significant drilling intercepts included 5 metres @ 3.54 g/t gold from 126m downhole at Jack's Dream, 4 metres @ 4.78 g/t gold from 66 metres downhole at Twin Shaft, and 2 metres @ 3.65 g/t gold from 53 metres downhole at Eclipse.But late last month a long, and rather cautiously worded, update announced a shift of focus. Of the more than hundred drill holes drilled over three exploratory programmes over the past 12 months, only eight had encountered significant gold intercepts within the oxidised zone within 30 metres of surface along strike from the main Eclipse shaft. The company now thinks 'the main gold mineralisation at Eclipse is more prevalent at depth' and 'is perhaps orders of magnitude larger than originally anticipated.' It therefore 'believes that the development of a small-scale open pit operation is not the optimum path for unlocking the value of Eclipse, and may ultimately lead to the sterilisation of the higher value gold mineralisation within the high-grade primary lodes and supergene enrichment near the base of weathering.' Further drilling will be necessary to 'expand the exploration and development focus on the wider potential that is offered by combinations of the Eclipse lode with the Jack's Dream extension and Twin Shaft lode with the objective of delivering a larger mineralised inventory to advance towards feasibility stage'. A subsequent update stated that 'we are completing our initial assessment of the small-scale mining opportunities at our Eclipse Gold Project' and expects to provide a technical update shortly.Looking ahead The change of plan left the markets uncertain about the company's ability to execute and fund drilling at greater depth, the cash generated from the sale of its Georgian assets notwithstanding. Empire's last set of results, published in April, prior to the sale, stated a cash position (as at 16 April 2021) of £1.23m. A year-end loss of £572,989 was reported (31 December 2019: £675,592).Empire's share price has been battered over the past few years as its Georgian venture has run aground, and investors are yet to be convinced it can successfully engineer its shift in focus. Riding high at 25p four years ago, the company's stock price nosedived to just over 1p as its Caucasian venture foundered. The price rallied somewhat last year as the company made efforts to reinvent itself, entering 2021 at 4.6p. But after the mixed news from Eclipse it was back down to 1.65p at the time of writing. Earlier this week Empire's directors tried to shore up confidence – and perhaps quash rumours of a further placing – by increasing their stake.Current and prospective Empire investors understandably want results sooner rather than later in Australia after several frustrating years. Empire must demonstrate it has a convincing and affordable plan if it is going to have an opportunity to realise Eclipse's potential. But if it can forward a plausible programme a case can still be made that the company may come good. It has taken action to extricate itself from its Georgian difficulties, staking out a new position in one of the world's most prospective gold regions. It is embarking on initial drilling at Central Menzies later this month. Eclipse still looks good on paper. And at some point there may be a positive update regarding the Munni Munni prospect. There are a lot of 'ifs'. But with its share price once again at rock bottom Empire may still be one to watch if it can find a way of taking advantage of at least one of the several new opportunities it has given itself by undertaking the difficult process of change.Managing Director Shaun Bunn joins us for a podcast interview to expand further in "The New Empire – Part II" later this week...
1liam: Inflation-Wary Germans Are Loading Up on Gold(Bloomberg) --Many gold investors might be fretting over the prospect of the Federal Reserve curbing monetary stimulus, but Germans are still loading up.Demand for physical bullion in Germany, traditionally the biggest coin and bar buyer in Europe, was the highest since at least 2009 in the first half, World Gold Council data show. While purchases in other Western markets have also been strong, Germans in particular are pouring into the metal as a hedge against rising inflation -- and dealers say business remains good."We have a long history of inflation fear in our DNA. Now the inflation risk is picking up," said Raphael Scherer, a managing director at metals dealer Philoro Edelmetalle GmbH, whose gold sales are up 25% on what was already a strong 2020. "The outlook for precious metals is very positive."
1liam: Its the future prospects investors are interested in. Gold production is expected to increase in Q3 of 2021. Canada, Indonesia, Australia, Peru, and the US will be the key contributors to this growth. Combined production in these countries is expected to have a significant recovery of 113.9moz in 2021 and grow to 124.1moz by 2024 – a 2.9% CAGR.
1liam: MENUShow navigationFXStreet Dhwani MehtaFXStreet  FollowGold Price Forecast: US Retail Sales to confirm XAU/USD's bullish reversal?ANALYSIS | 8/17/2021 5:01:08 AM GMTRisk-off mood-led DXY's strength caps gold price at 21-DMA.Flight to safety downs the yields while limiting gold's pullback.US Retail Sales hold the key for the next direction in gold price.Gold price extended its previous week's bullish momentum into Monday, rallying further to reach the highest levels since August 6 at $1789 amid a narrative of an intense flight to safety narrative. Investors s scoured for safe-havens such as US Treasuries, gold and the US dollar, especially after the Chinese activity data disappointed markets and reinforced the China slowdown concerns, heightening the risk-off trading. The rapid spread of the Delta covid variant globally and the Taliban recapturing power in Afghanistan over the weekend spooked markets. However, gold price eased slightly at the close amid the parallel dollar's strength and new record highs on Wall Street.
iloveit: Dumping carrying on here .Not at all surprised watching closely here as investors seem to be getting fed up.
iloveit: Looks like investors want to grab stock at last.What is the chance of a gold production mine here and seeing 25p+ shareprice again?
1liam: Gearing up in my opinion. Generally speaking gold has a negative correlation with the stock market, when stock prices fall during a recession, the price of gold tends to increase in value. In turn, this magnifies the value of gold stocks, even in spite of a stock market crash?. As gold is often seen as a safe haven asset that investors turn to in times of financial crisis, gold stocks often work in the same way within the stock market. As always DYOR
1liam: Gold futures looking positive.What do rising cases of covid-19 Delta variant mean for gold? Well, I would say that Delta is fundamentally positive for gold and could mutate it into a more bullish strain. If the pandemic accelerates, governments may reintroduce some of the sanitary restrictions or even lockdowns. A new wave of the epidemic would also increase the chances of a big infrastructure bill in the U.S. and other fiscal stimuli, while the Fed would likely remain dovish for longer than it would without Delta. So, inflation could intensify even further, while the real interest rates would drop. Therefore, concerned investors would turn to inflation hedges and safe havens such as gold.
bspgamer: Empire Metals Limited Investor PresentationSource: RNS Non-RegulatoryTIDMEEEEmpire Metals Limited09 June 2021Empire Metals Limited / AIM: EEE / Sector: Natural Resources9 June 2021Empire Metals Limited ('Empire' or the 'Company')Investor PresentationEmpire Metals Limited, the AIM-quoted resource exploration and development company, is pleased to announce that Shaun Bunn (Managing Director), Mike Struthers (Non-Executive Director) and Greg Kuenzel (Finance Director) will provide a live presentation via the Investor Meet Company platform on Thursday 17 June 2021 at 10:00am BST. The presentation will showcase the Company's expanding mineralised footprint in Western Australia as Empire advances its development activities at its primary Eclipse Gold Project and begins exploration work at the Central Menzies Gold Project.The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 9am the day before the meeting or at any time during the live presentation.Investors can sign up to Investor Meet Company for free and add to meet Empire via:https://www.investormeetcompany.com/empire-metals-limited/register-investorInvestors who already follow Empire on the Investor Meet Company platform will automatically be invited.
bspgamer: Double Bottom PatternDouble bottom patterns are essentially the opposite of double top patterns. Results from this pattern have the opposite inferences. A double bottom is formed following a single rounding bottom pattern which can also be the first sign of a potential reversal. Rounding bottom patterns will typically occur at the end of an extended bearish trend. The double bottom formation constructed from two consecutive rounding bottoms can also infer that investors are following the security to capitalize on its last push lower toward a support level. A double bottom will typically indicate a bullish reversal which provides an opportunity for investors to obtain profits from a bullish rally. After a double bottom, common trading strategies include long positions that will profit from a rising security price.
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