Empire Metals Limited NPV (DI) (EEE)

Sector:

Mining

Index:

FTSE AIM All-Share

 6.10p
   
  • Change Today:
      0.000p
  • 52 Week High: 13.40
  • 52 Week Low: 5.80
  • Currency: UK Pounds
  • Shares Issued: 634.56m
  • Volume: 61,121
  • Market Cap: £38.71m
  • RiskGrade: 397
  • Beta: 0.30

Empire Metals upbeat on evaluations from Pitfield Project

By Josh White

Date: Wednesday 04 Sep 2024

LONDON (ShareCast) - (Sharecast News) - Empire Metals updated the market on its ongoing mineralogical and metallurgical studies at the Pitfield Project in Western Australia on Wednesday, focusing on the development of titanium-rich ores.
The AIM-traded company said its current evaluations, incorporating both historical research and advanced international expertise, had identified several promising processing routes, guiding ongoing metallurgical testing and flowsheet development.

It said the main goal of the testwork was to create a fully integrated mine-to-market facility, positioning Pitfield as a key supplier to the global titanium pigment and metal industries.

The company was working with both government and commercial laboratories in Australia, employing large-scale equipment and industry vendors to optimise the processing flowsheet.

Initial testing has concentrated on titanite ore found in the bedrock, successfully separating titanium-bearing minerals from lower-value materials.

Recent discoveries of high-purity anatase in the weathered bedrock cap had prompted a shift in focus, with new samples being collected for further testing.

Early results were encouraging, particularly in gravity separation and leaching tests.

Preliminary tests using hydrochloric acid (HCl) had shown that titanite minerals could be dissolved efficiently under controlled conditions, pointing to the potential for an economical processing method.

"I am extremely excited by the progress being made by our development team, led by our process development manager Narelle Marriott, and well supported technically by titanium industry specialists, Dr Trevor Nicholson and Eugene Dardengo," said managing director Shaun Bunn.

"We have commenced research studies with CSIRO and Curtin University scientists, both groups being located here in Western Australia, aimed at providing important information on the nature and origin of the mineralisation as well as the various routes through which to extract the titanium.

"Through the mineralogical studies completed to date at AXT and CSIRO, we now have an increasingly detailed understanding of the mineralisation, both for the fresh and the weathered titanium minerals, as well as for the gangue minerals."

Bunn said the company had also been working closely with titanium industry and market consultants, TiMPC, which was providing commercial guidance into what types of products were most desired by major titanium industry players and how Empire could market its high-purity products towards the high-value end of the market.

"With new knowledge being generated about Pitfield's ore geology and the titanium industry market requirements, plans for the next phase of testwork are being tailored towards the development of a commercial process flowsheet optimised for Pitfield anatase and titanite ores."

At 1359 BST, shares in Empire Metals were up 1.07% at 7.07p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

EEE Market Data

Currency UK Pounds
Share Price 6.10p
Change Today 0.000p
% Change 0.00 %
52 Week High 13.40
52 Week Low 5.80
Volume 61,121
Shares Issued 634.56m
Market Cap £38.71m
Beta 0.30
RiskGrade 397

EEE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
54.85% below the market average54.85% below the market average54.85% below the market average54.85% below the market average54.85% below the market average
90.55% below the sector average90.55% below the sector average90.55% below the sector average90.55% below the sector average90.55% below the sector average
Price Trend
22.53% above the market average22.53% above the market average22.53% above the market average22.53% above the market average22.53% above the market average
45.99% above the sector average45.99% above the sector average45.99% above the sector average45.99% above the sector average45.99% above the sector average
Income Not Available
Growth Not Available

EEE Dividends

No dividends found

Trades for 21-Nov-2024

Time Volume / Share Price
15:32 11,000 @ 6.06p
12:58 339 @ 6.19p
12:53 2,000 @ 6.00p
12:53 2,000 @ 6.00p
12:30 3,352 @ 6.19p

EEE Key Personnel

Finance Director Gregory Kuenzel ACA

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