The first drill rig arrives at Pennys Find, the ERL gold-nickel prospect near Kanowna Belle next week, and the company is on schedule to drill at two other sites during March.
At 20.5c / share at present this must be one of the real bargains on the ASX at present. Time to get set imo.
Empire Resources makes strong ASX debut
Empire Resources Ltd (ASX: ERL) listed on the ASX yesterday after raising AUD$5.5 million, well over the minimum of AUD$3.0 million.
The response reflected strong investor interest in Empire’s experienced management team and the quality tenement portfolio.
Almost three million shares traded and the stock price was AUD$0.215 at close, after trading as high as AUD$0.25.
Empire Resources will now move quickly to further explore, develop and assess its portfolio of uranium, copper and gold prospects in South and Western Australia.
After a solid first day of trading, Managing Director David Sargeant said: “We are thrilled with the support for our exploration projects and strategy.”
“Our six sites have outstanding potential – and all six are drill-ready. In fact, we are ahead of schedule.
“The first drill rig arrives at Pennys Find, our gold-nickel prospect near Kanowna Belle next week, and we are on schedule to drill at two other sites during March.
“We aim to rapidly build value for our shareholders by firstly confirming possible revenue streams from advanced projects at Pennys Find and Troy Creek, our
copper-platinum-gold prospect.
Secondly, we will explore other highly promising
sites including Torrens, which is in the same geological province as the Olympic Dam mine.”
Empire Resources’ Board is made up of experienced mining professionals. The tenement package covers 1,723 km2 in some of Australia’s most prospective mineral provinces – both established and emerging. The focus is uranium, copper and gold, but the portfolio also contains nickel and platinum targets.
www.resourcesempire.com.au
Add to My Watchlist
What is My Watchlist?
