Empire Managing Director, Sean Richardson commented:“Empire...

Empire Managing Director, Sean Richardson commented:
“Empire continued to assess and progress several highly prospective business opportunities
during the March quarter. Current market conditions lend themselves to unlocking accretive
opportunities that would be pivotal to Empire’s business. The Company continues to pursue
potential business development options.
“The Company is also very pleased with the progress of the Penny’s Find Gold Mine under
the stewardship of Horizon Minerals. The recent 46% increase in the JORC compliant
Resource and ongoing pre-feasibility studies, together with all-time high gold prices implies
that Empire’s royalty entitlement has significant financial implications for both Empire’s cash
position and underlying enterprise value.
“We monitor development of the Penny’s Find Gold Mine closely and look forward to regular
progress updates from Horizon Minerals as they advance their business towards gold
production.
“Post the March quarter Empire announced a non-renounceable rights issue to raise funds for
activities of the business and for working capital. I encourage all shareholders to consider the
offer and recommend they take up their entitlements.