Empire Metals Share Discussion Threads

[coldjoe] 24/3/2021 15:15

+ GGP/ECR all down since Jan/Feb

[king suarez] 24/3/2021 15:14

Speculative money today is buying up digital farts, virtual reality homes and gifs of basketball players for $200k a pop, not 'boring old fashioned gold'..

[coldjoe] 24/3/2021 15:10

I think that you are all too focused on EEE and trying to find reasons for the drop - yes new CEO and sale of Bolsini councluded would be nice but meanwhile have a look at OMI/WSBN/PAT/ORR they all fell simillar % in recent weeks, because the sentiment in gold exploration companies is gone at the moment.... let's all hope for a better H2

[gta5] 24/3/2021 12:54

seanlander; Simple; at 7M CAD Georgia represents almost 50% of our Mcap.

...and as promising as I think Eclipse is looking, it's based on hope that the JORC will come back positive and that the economics will stack up. (I'm sure it will, but it's not there yet)

IF Eclipse suffers any hiccups EEE has very little reserves in the bank to acquire other targets or start producing an income. The runway is short for EEE.
Normally it's ok as you can always tap the AIM equity markets for fresh fool...ahem...hopeful investors, but as credible as Struthers is, EEE is without a CEO to run with new leads and with a chequered history it really would be exposed to the elements. Hence my interest in Georgia concluding ASAP. I've also done enough business in Georgia to know that curveballs is standard operating practice so the sooner this is de-risked and money (or CAND shares) located in the bank the better.

GTA.

For the record, I'm a buyer at current prices and a long term holder of GEO....now EEE. However, this is AIM, and in AIM, the few exceptions that are not moneypit basketcases all the credibility rests on management, and Struthers and O'brien are both leaving for CAND, we can't ignore that. Hence the weakness below 3p in my opinion.

[seanlander] 24/3/2021 12:12

I see you've definitely got the bit between your teeth on this Georgia issue! Something doesn't seem quite right. What's taking so long? Maybe a curve ball coming!! Resolution either way would be beneficial. Eclipse is in the bag, anything from Georgia would be nice!

[gta5] 24/3/2021 11:39

So, whilst we all await with abated breath for JORC and grades and pit optimisations, here is something that I'm pondering;

From the 1st feb RNS from Mike:

Sale of Bolnisi Copper and Gold Project in Georgia

As announced on 26 October 2020, Empire has concluded a definitive and binding Sale and Purchase Agreement (subject to certain conditions) for the sale of the Company's Georgian assets to Candelaria Mining Corp. (TSX.V: CAND) ("Candelaria") for an all-equity total consideration of 7 million Canadian Dollars ('CAD'). This offer remains in place, however it is subject to a right of first refusal ('ROFR') by the Company's joint venture partners in Georgia, Caucasian Mining Group ('CMG'). Whilst CMG has indicated an interest in exercising its right, it has yet to provide Empire with an acceptance of the offer which would give the Company confidence that it will receive the full consideration offered by Candelaria as required under the shareholders agreement. Empire continues to seek a resolution to the situation which would offer the best value to Empire shareholders.

(Note; CMG does not have the $$$ to release 7M CAD equivalent, but likely want to do a payoff/royalty plan over time from production. Mike: run for the hills. Take Candelaria's offer for EEE please! the risk of EEE being screwed around by CMG+Geo is too high I'd argue. Easier for Candelaria to start fresh.)

Latest Candelaria presentation (March 2021)



(Note: Not a word about Georgia?)

[1teemore] 24/3/2021 10:09

CEO jumping ship- is the ship on dry land! MS operated as a consultant and was very good one at that-his experience would not have been running companies as far as I know. I agree with seanlander's comment.

[seanlander] 24/3/2021 07:53

The BODs arnt focused too much at the moment about share price they have bigger fish try fry. A gold mine to drill and firm up an open pit mining plan and a good quality ceo are top of that list. One thing is for sure, these two things will happen quite soon..There is no reason the share price is this low, apart from mms doing a big shake to get plenty of cheap shares ready for lift off. Nobody knows when the tide will turn but it will move fast when it does. If you are a holder then stay strong and keep holding, this will come good. If you're not in yet, then what are you messing around at! You don't want to be left on the platform without a ticket! Glahimho DYOR

[gta5] 23/3/2021 18:22

I wonder what's keeping him from cashing in the offer from Candelaria?
I don't see what the point to negotiate with RMG is good for? Why waste the time and allow EEE uncertainty to continue? surely the risk need to reside with Candelaria as they've made an offer that Struthers has accepted (including his move with it)

It's clear that the Russians are not going to cough up more in cash than Candelaria have already offered in shares, so why is Struthers even wasting his time while with EEE? The longer time passes, the bigger the risk for EEE that it will go sideways.

The chart is looking very flaky, if you believe in those things...

Next support 1.9p. lets hope we won't need to test it.

[juju44] 23/3/2021 17:01

Fekin disaster with a CEO that just jumping ship - says it all

[gta5] 23/3/2021 15:46

Much better thanks. 1.9p here we come!

[seanlander] 23/3/2021 14:43

I'm selling this today! It's going back to 1p!!

[gta5] 23/3/2021 12:51

Yes, please stop it.
If you keep ramping we'll be down to 2.2p before tea time...

[davetedjack] 23/3/2021 12:09

Your positivity has caused a fall in price

[seanlander] 23/3/2021 12:04

Back in the 3ps later this week... the rise is back on!!

[gta5] 23/3/2021 10:00

"..newsflow can only be positive in the coming weeks..."

"The seller defiantly has cleared"

What are you guys drinking and can I have some?
GTA.

[bspgamer] 23/3/2021 08:58

The seller defiantly has cleared

[saracen3] 23/3/2021 08:30

As and when people start to believe that the aggressive seller has finished Empire shares will recover as newsflow can only be positive in the coming weeks. People look at the share price and think there must be something wrong but the selling is likely to be for others reasons specifically linked to the seller. 5p soon and 10p by year end is more than likely.

[gta5] 22/3/2021 11:19

7M in the bank from Georgian partner would do me for a starter.
...But judging by the share price and delay since Candelaria's offer was announced there seems to be little hope for that to conclude that easily...
Sneaky Russians, incompetent Georgians and naïve Westerners; recipe for disaster.

So Mr Struthers; why are you not taking the Candelaria offer for EEE and be done with the uncertainty?..

...And then keep dealing with RMG as the CEO at Candelaria from a fresh position?

It offsets risk from EEE and adds a valuable prospect to Candelaria?

GoGoGo...

[yawn1971] 22/3/2021 10:58

It needs to start doing something ....

[seanlander] 22/3/2021 08:20

Loads of potential to bounce from these depths. Time to load up this week!! ImhoDYOR

[p@] 19/3/2021 12:49

could it be Gervais HEDDLE from GGP ?

[shares188] 18/3/2021 18:24

New Director on the way!!

[seanlander] 18/3/2021 15:06

Last chance to get in under 3p!! Sit back and Watch this rise now!! Very exciting times!!