Ann: Fiery Creek Copper Expansion Georgetown Amended with Link, page-2

Sooo, all of a sudden Emu are on the cusp of finding a company making copper deposit - of course they are!

Yes, for those who have read my posts in the past, I am a huge skeptic of these guys. Why? They are 'ambulance chasers', always following the metal of the moment to fill up the coffers and keep the management in the 'manner to which they have become accustomed'.

A couple of years ago they were chasing nickel, then it was rare earths and now its copper! What a surprise with shining energy metal at all time highs.

And how perfect is the timing? Stay with me here as we dive down the rabbit hole:

1. Last quarter EMU spent nearly $400,000 on running the company (with over $250,000 alone spent on staff and admin costs).

2. So in real terms, it costs around $130,000 a month just to keep the doors open at EMU (and has done for many years).

3. On the 31st of March they had a meagre $394,000 left in the kitty (less than one quarter of cash) which means by now (6 weeks later) they are probably down to less than $200,000 in cash (likely less given the exploration push at Fiery Creek).

4. So what's the response? They roll out the 30-1 consolidation of the stock, which was only narrowly approved back in March (taking the shares from an untradable $0.001 up to $0.03), and then they all of sudden find copper at Fiery Creek - which I suspect previous workers found decades ago.

5. With the EMU stock (in real terms) only marginally above where it was before the consolidation (and having also dropped to $0.015 in recent weeks before its copper induced recovery) I have little doubt that the 'Bush Chook' is pecking around every major capital city in Australia, entertaining brokers and regaling them with tales of the untapped copper riches at Georgetown so they can raise a few million $ and keep its West Perth party going.

Sigh!! So predictable.

It's important to remember that porphyry copper deposits tend not to be high-grade (as EMU say they are finding) but rather large, deep seated, low-grade (<1% copper) systems. High-grade veins (>2% copper) are typical of shear zones and vein style systems that the Georgetown region is famous for. It should also be noted that copper is highly mobile in the surface environment, so a little bit of copper can go a long way, creating what geochemists call a 'broad, dispersion halo' which comes from a relatively small source.

Is there copper at Georgetown? Of course there is, the region has been recognised as a base metal exploration destination for decades and therein lies the problem.

Does EMU really expect investors to believe that they've lucked upon a massive world-class porphyry copper deposit in an area that has substantial outcrop (so the rocks and copper are pretty much at surface) and has been explored by a 'who's who' of the mining industry over more than 40 years? Also EMU has held this project since September 2022, so how come they're just tripping over this discovery now?

I guess it's possible but being a betting man I'd say that they are just feathering their own nest and a capital raise it imminent - again!

PS. Just my own thoughts and opinions - DYOR.