Member Info for Larry.Laffer

"At the time of estimation, Bunn explains the exploration target was only one-fifth of the area that Empire Metals knows is mineralised.

“So, multiply the 30 by five, you have 150 billion tonnes. We’re drilling about 180m, but we’ve also drilled diamond cores down 400m and it’s always in mineralisation,” Bunn notes.

“In our estimates based on those projections, it is quite likely that about a third of the world’s titanium is sitting in that basin at Pitfield.”

I'm looking forward to when Shaun says

In our estimates based on those projections, it is quite likely that about a third of the world’s <b><u>Money</u></b> is sitting in the basin at Pitfield.

Call me cynical

But if you were a tracker fund and wanted to fulfill your commitment to buy a percentage of empire shares to fulfill your constructional requirements wouldn’t it be nice if someone could short the price down far enough to get you a good buy in. They can sell them on to you before the share recovers to a reasonable level.

But of course the regulator would be on it like a flash……..zzzzzzzzzzzz NOT

The only other option I could have seen was a dump on a fund raising. But Shaun said they had no plans for that and they had the money to get the immediate work done and get to the next stage. And I believe that’s him being as honest as he always is.

Thanks for your response (some posts earlier}.

I listened again to the interview with Shaun Bunn. I didn’t change my thoughts particularly about numeracy centred on the cost of the flow sheet processing.

However

The next morning I was floored by the RNS that whil!st it still didn’t have any info on commercial impact on the real cost of processing it did say it was same as/less than current practice, and the 2 extra steps in the flow sheet didn’t impact the end cost.

That particular RNS has a massive bearing on the project.

So we now know the size of the project

The likely mineralisation down to 50 metres ish

The product can be extracted commercially according to an-retry standard industry flow sheet

Higher purity product is able to be produced. Shaun’s Optionality in product output & pricing benefits

I’m waiting now for the geology report & the MRE. And then a £1 share price.

Whilst they will continue working on the areas above Imwant Shaun to sketch out a development plan that shows

Planned size of the mining facility

What the mine will physically look like

Where the money is coming from

What the timeline is

I have faith inShaun’s leadership so it’s onward and upwards from here.

gemrusty

it’s not possible to “verify” the mre. whilst it’s the industry gold standard and produced to a very high standard designed to give confidence in its contents. it still has subjective criteria that are applied by the competent person. the competent persons can be challenged and would have to justify their result.

for example how do you “verfify” the indicated content in the mre. just by the use of that word you are saying “could be” or “couldn’t be”.

it’s only when the ore is out of the ground and processed that you would be able to verify the mre.

also the competent persons will have previous history of the reliability of their work.

my view is if you use reputable people to produce the report and have it supported by a respected third party, you will have done enough to convince the market of its contents.

having said all that, it’s highly unlikely that any jorc compliant report would be full of hope and bull****. that’s exactly the things jorc was designed to eliminate.

Ukmore

I think Shaun Bunn mentions divesting non core stuff in his latest interview. But no detail.

Look on the bright side they could raise money from existing shareholders by having a rights issue. I have no doubt at the right price it would be fully subscribed.

I would be up for it.

How about a 10% rights issue at 60p ish (depending on where it settles after today) That would add another 65m shares to the register and give the company about £30m after costs. Throw in a warrant for each bought share exercisable at 50p for 2 years, which would get the company another £30m for “expenses” 😂. No dilution for existing holders, which is very appealing to retail holders.

Look on the bright side they could raise money from existing shareholders by having a rights issue. I have no doubt at the right price it would be fully subscribed.

I would be up for it.

How about a 10% rights issue at 60p ish (depending on where it settles after today) That would add another 65m shares to the register and give the company about £30m after costs. Throw in a warrant for each bought share exercisable at 50p for 2 years, which would get the company another £30m for “expenses” 😂. No dilution for existing holders, which is very appealing to retail holders.

99.25% is a fabulous number and way above any published competitor number. Just to qualify that number Shaun mentioned 2 further minor steps to the flow sheet. What would be nice to know now is the extraction rate and the cost of getting that. 99.25% may well be what the lab achieved but in the longer term of a mine life it has to be commercially viable to get there. At those sorts of purities all the upper end supply chains open up to empire if the cost can be kept low. Hopefully news soon on that front as the analysis of a bigger test batch has been ongoing for a while now.

Just thought I’d float an idea…….

Shaun Bunn has a title of MD. How about we upgrade that to CEO whilst retail investors can influence any GM vote. Institutions will have a much different outlook to what progress is than retail. He certainly deserves it for the progress and effort he has put in so far. The appointment would be subject to the usual rules about re-election etc and he could be rewarded with a generous compensation & bonus package tied to real advances in accident frequency/share price/market cap/asset value etc. I don’t think he needs refocusing but good pay packages can have the desired effect.

With respect to the latest interview. Plenty of hints in there about where we are and where we are going. With a few hints at when. 😀

I would like to see some figures in respect of the recent lab extraction rates. Reporting the very high numbers he did was great. The next news in this respect should hopefully give us some idea of whether the high rates can actually be achieved on a commercial scale and at less than current market practice. He indicates we can achieve a good result but it’s better written down in a news release so we can all study the impact.

Well done Empire, well done Shaun Bunn & well done his management team. We are on the motorway to success and off the by roads now.

"Empire Metals Limited, the AIM-quoted and OTCQB-traded exploration and development company, is pleased to report outstanding assay results from its latest drilling campaign at the Pitfield Project....."

If Carlsberg did RNS

Aaaargh

No wonder I’m not getting any bites on my order.

I’m trying at a lower price. 😂😂😂.

Another Brick in the Wall………..

Does anyone have any documented knowledge of how century’s 30% project shareholding is structured.

Is it a free carry arrangement at all

Is it a free carry for the scope of the project as signed (hopefully so they pay up for improvements in resource quantities after signature)

Is it a free carry for all additional increments in resource measure (an absolute bargain if it is)

Are they restricted in any share disposal (do they have to be offered to empire first). It’s a significant shareholding if anyone looks to attempt a takeover of the company.

Any links to the actual agreement in the public domain would be useful.

by my estimate aug 15th is the earliest we may expect to complete drilling and analysis of the core samples. the spreadsheet formulas are already written to do the calculations for measured/probable/inferred to insert in the mre template. i hope they can use the full project site in the inferred category, which can include the airborne magnetic survey results as well as any supplementary drill results. that could allow them to use 40 x 8 x 5 kms as the resource area. speculative i know but it’s aspirational and ambition that needs documenting for all the big boys. so the weasel words and approval should be at a minimum time. say middle of august to middle of september. giving a not unreasonable conservative target of end of q3

some stuff shaun bunn could kickstart over the next 6 weeks (he’s on these anyway).

contacting big bulk consumers of our intended product to arrange takeoff contracts when all the ducks are in a row. product samples, product line ambitions, potential pricing & start of contract dates.

speak to potential market disruptive tech companies to establish mutual timelines/prices/product for new/much increased supply volumes. i.e

solar panels - titanium doped ones 5 x more efficient than current

communications devices - smartphones etc

battery manufacturing companies

medical device manufacturers - prosthetics etc

aerospace - bigger lighter jets & spacecraft

military vehicles

maybe sign some mou’s or provisional supply documents triggered by real agreed milestones. it’s in both parties interests to do so. they should be looking 5 to 10 years ahead.

aussie govt could encourage incentivise manufacturers to build local facilities. “make australia great again”……tariff the yanks 150% 😂

i believe the current total worldwide demand for titanium is circa 7m tonnes. whilst empire might get a decent proportion of that in sales they won’t get enough to put the company into rocket drive especially when existing manufacturers cut costs & prices to maintain market share.

shaun has called every step right so far and i’m confident he will continue to do so. he’s a man with a plan.

finally this could hit 50p shortly after the mre. i hope so and i hope retail investors can be rewarded for backing the company so far. there was 85% free float prior to the earlier sample analysis results so the institutions are going to have to pay to “take them away” money talks, bull**** walks. 😂

In particular Thanks, Manlord and Ageos for your stand out posts.

Aquinaga

It was a response (edited a bit and chopped up) to a number of questions but roughly from memory

whats your analysis of the pitfield project

whats the current market price for TiO2

whats the likely yield from the pitfield project

what is the likely share price when in full production

most of the assumptions were in

No of shares in issue

Margin

PE rating

likely world market size for product

likely EEE share of world market.

plug in any number you feel fits.

Restingpilgrim

that was my mistake, i corrected it when i posted in the other place. I dont know how to do it here evem if you can.

Resource potential

Empire Metals has identified an exploration target of approximately 30 billion tonnes grading between 4.5% and 5% TiO₂, representing only about 20% of the total mineral system, indicating substantial potential for expansion.

Recent Air Core drilling at the Thomas and Cosgrove Prospects has confirmed extensive, continuous high-grade titanium dioxide mineralization, with standout consisten high grade intercepts including:

60m @ 6.30% TiO₂ from surface

56m @ 7.15% TiO₂ from surface

51m @ 7.88% TiO₂ from surface

57m @ 7.48% TiO₂ from surface

52m @ 7.43% TiO₂ from surface

Mineral Purity: Preliminary test work has produced a high-purity titanium dioxide product assaying at 91.6% TiO₂, free from deleterious impurities, making it suitable for high-quality titanium sponge metal or pigment production.

Estimated TiO₂ Content

Lower Estimate: 26.4 billion tonnes × 4.5% TiO₂ = 1.188 billion tonnes of contained TiO₂.

Upper Estimate: 32.2 billion tonnes × 5.5% TiO₂ = 1.771 billion tonnes of contained TiO₂.

Development Strategy

Empire Metals is progressing in developing a processing flowsheet, with test work confirming the viability of extracting high-grade titanium dioxide from the mineralized weathered cap. The company plans to commence the design and construction of a demonstration plant in 2025, aiming to produce a final TiO₂ pigment product on-site through a fully integrated mine-to-product operation.

Strategic Outlook

Empire Metals is advancing towards a maiden Mineral Resource Estimate (MRE) for the Pitfield Project, with ongoing metallurgical test work and processing flowsheet development. The project's favorable geology, high-grade mineralization, and promising metallurgical results position it as a significant potential source of titanium, a critical mineral in various industries.

Speculative yield and share price.

These figures suggest that the Pitfield Project could potentially yield 950 million tonnes of titanium dioxide at an average process recovery rate of 80%.

Using a price range of $3000 to $3500 per tonne yields $2.85 trillion to $3.325 trillion for the whole resource.

Assuming Empire Metals can take 15% of the market for TiO2 annualy that would result in $2b of revenue at a margin of 20% yields $600m of profit 1bn shares in issue and a PE of 15 yields a share price of $9 or about 70 x the current price of $0.125.

Buckle up its going to be a wild ride when production kicks in.

Https://grok.com/share/c2hhcmQtMg%3D%3D_1491a212-c101-4947-bda5-3093e53fb947

I hope the link works ok…..

YouTube video of interview with Shaun Bunn (taken from link kindly provided by Sambuca on ADVFN)

https://youtu.be/60FQjuym9fE?si=EGt5ICwhXYVAOgA9