hi Dearly...... i just looked back over my posts ...the management connection was to Brimstone - Joe Graziano ....
the original Brimstone ( close enough to ERL!) acquired a $500 grand 40% share in Empire and, on the strength of four drill holes and some potential gold leases in Victoria, first tried to float - unsuccessfully - then managed to sell the 40% to Singapore company : Lion Ore for $3.77 million .
One of the directors ( don’t know if it was Joe )was boasting about that little play in his credentials on another company ( not here)
Seems Brimstone knew it was an old mine and drilled their careful holes outside the old workings and Lion Ore may not have done full due diligence ....they drilled 28 unsuccessful drill holes before selling it back to Empire and some other JV mates for $450,000.
....exercise in spin and maybe worse by my books .... i had only colkected few Kin when i saw the connection and i took a meagre profit at 26c and 26.5 ...... even if it didgood I didn’t want to be part of it.
cheers
PS the names and story are posted over on Empire 1o1 in the ERL threads
Thanks for that sabine. I had quickly skimmed over your threads at ERL but couldn't find the connection. Keep up the good work on bad Director's etc., they cost us shareholder's a lot of money and grey hairs.
Cheers
Dearly
