Member Info for FUZZY1014

Hi Manlord. Thanks as always for the excellent comprehensive posts and for taking the time to post. I know that I will speak for a lot of people when I say your contributions helped me to decide to invest in empire.

One query. Does the fact we have a 70% share in pitfield factor into the figures?

Thank you Manlord for everything that you have posted on here and advfn both now and previously.

Just one very minor correction if I may. They didn't take up the option on Staveley saving the funds for pitfield.

See the RNS of the 5 Jul 2023 13:38 whereby Gold Elegant (HK) Investment Limited had 5.1% of the

489,991,035 in issue at that point in time (25,000,000 shares)

Today they have 4.09% of the 634,564,810 shares in issue (26,000,000)

the reference to the previous notification simply relates to the RNS from July last year

Makes perfect sense thank you aegos.

In my opinion point i) only relates to them finding Copper or Gold at the relevant amounts.

point ii) is what is potentially relevant for the titanium discovery. The definition of Mineral Resource in the JORC code is such that the Titanium discovery would in my opinion be covered by that provision.

Genghis the 6th April 2022 states

"Empire has also agreed to pay Century performance-based payments in the following amounts, either in cash or Shares at Empire's election:

(i) an amount equal to 1% of the Shares on issue immediately prior to Empire first announcing no later than 5 years after the date of acquisition that exploration drilling on any of the Projects determines multiple (more than 2) intersections exceeding 30% Cu metre or 50g Au metre; and

(ii) an amount equal to 2% of the Shares on issue immediately prior to Empire first announcing no later than 5 years after the date of acquisition a Mineral Resource in the inferred category or better compliant with the JORC Code 2012 exceeding 250Kt Cu metal equivalent in relation to any of the Projects,"

The Jorc 2012 code defines Mineral Resources as

"A ‘Mineral Resource’ is a concentration or occurrence of solid material of economic interest in

or on the Earth’s crust in such form, grade (or quality), and quantity that there are reasonable

prospects for eventual economic extraction. The location, quantity, grade (or quality), continuity

and other geological characteristics of a Mineral Resource are known, estimated or interpreted

from specific geological evidence and knowledge, including sampling. Mineral Resources are

sub-divided, in order of increasing geological confidence, into Inferred, Indicated and Measured

categories."

What is ambiguous about that?

So is it your position that Exploration Licence (E70/5465) and an Exploration Licence Application (E 70/5876) at Pitfield only allow Empire to explore for copper and gold?

Hi kongolasse,

Can you post a link to the contract wording rather than just the rns.

What makes you think this applies to pitfield and not Walton or Staveley?

There are recordings and typed answers

Https://www.weare121.com/121mininginvestment-cape-town/empire-metals/

What about Rio Tintos titanium connection

https://www.riotinto.com/en/operations/canada/rio-tinto-fer-et-titane

Directors cannot purchase shares when the company is in a close period

close period (i) The period of two months preceding the publication of an AIM company’s annual results (or, if shorter,

the period from its financial year end to the time of publication); and

♦ if it reports only half-yearly, the period of two months immediately preceding the notification

of its half-yearly report or, if shorter, the period from the relevant financial period end up to and including the time of the notification; or

♦ if it reports on a quarterly basis, the period of one month immediately preceding the

notification of its quarterly results or, if shorter, the period from the relevant financial

period end up to and including the time of the notification;

(ii) any other period when the AIM company is in possession of unpublished price sensitive

information; or

(iii) any time it has become reasonably probable that such information will be required by these rules to

be notified.

https://docs.londonstockexchange.com/sites/default/files/documents/aim-rules-for-companies.pdf

I strongly suspect that Shaun Bunn and the other directors are in possession of unpublished price sensitive

information in the circumstances