Member Info for Manlord

GG my man!

I’d say we’re two of the longest holding investors after my first buy here was back in Feb 2017.

In the six & a half years I’ve seen it all. The highs, the lows, the placings, the JV’s, the drilling, the results, the permits, no permits, court cases, price monitoring extensions, voting rights, investor days, TR1’s, farm-ins, options granted, options exercised, annual conferences, Georgians, Austrians, Russians, Aussies, gold, silver, copper, titanium, dust!

I’ve met each CEO, spoken for days on the company, spent weeks researching every last avenue of information only to be down 91% at one point on a 6 figure sum. I had every bit of faith & lost every last ounce of it multiple times but I will say one thing, Shaun’s appointment & the total redirection of the company which wasn’t well received at the time has been a long awaited but very positive move.

Australias pro-mining attitude cannot be underestimated, finally after all these years my trading account is showing circa 27% up! It’s a strange feeling but one I was warned about might leave me feeling relief & thus having thoughts of selling to recoup before realising fair value. I’d be lying if I said I never thought about selling up & crystallising my losses but I’d be telling the truth when I say I’ve never sold a single share & continuously averaged down. Shaun & the Empire team are playing a blinder here and I have ZERO intentions of selling anywhere near this Mcap because I’ve put far too much time into this to walk away now.

Good things come to those who wait, you only get out what you put in, hard work always pays off - well if that’s true there are many of us here that are due their just rewards!

We have some high nett worth individuals on our shareholder register and they have also seen significant paper losses but having spoken to them, their commitment to Empire has been a testament to their courage, convictions & beliefs! I wish them well in their quest for breakeven, profit & then hopefully retirement at some point in the future.

Things can change in an instant here so the very best of luck to LTH’s, newly invested shareholders & the lurkers who are hoping for a drop & those who are ready to plough in tomorrow.

This has the makings to be life changing for some, but make no mistake, it’s been a long, tough & arduous road to get to this point.

Who knows where we’ll be in 6-12-18-36 months but I can assure you it will be as interesting as the last 6 years!

ATB

ML

Appreciate the reply mate.

Thank you.

ML

Thanks for the detailed contributions!

One thing I wanted to know outside of the titanium find was to get your views on where you believe or what are the chances of finding copper as only 8 weeks ago that was the primary target.

The reason I ask is that we had been working off old & previous testing from years ago and titanium wasn’t on our radar! How does that happen and given your experience I’d appreciate your thoughts.

Thank you

ML

3. India

Ilmenite Reserves: 85 million metric tons

Rutile Reserves: 7.4 million metric tons

Largest Titanium Mine: Titanium Sponge Plant of India

India hosts one of the largest titanium reserves by country from the second tier of titanium producers. Its ilmenite reserves are 85 million metric tons, along with 7.4 million metric tons of rutile reserves, both making around 21% of the global titanium deposits. The Titanium Sponge Plant is expected to be the country’s primary titanium mining facility because of its advanced mining infrastructure.

2. Australia

Ilmenite Reserves: 160 million metric tons

Rutile Reserves: 31 million metric tons

Largest Titanium Mine: Mount Peake Vanadium-Iron-Titanium Mine

Australia’s ilmenite reserves are estimated at 160 million metric tons, which are 2nd highest in the world. Moreover, Australia has the biggest treasure of rutile ore, as its rutile reserves total 31 million metric tons. The Mount Peake Vanadium-Iron-Titanium Mine, which is also one of the world’s foremost advanced rare earth mine projects, serves as Australia’s principal source of titanium. However, despite having such dense ilmenite and rutile resources, Australia’s mine production for these two ores was curtailed to 0.66 and 0.19 million metric tons, respectively, in 2022.

1. China

Ilmenite Reserves: 190 million metric tons

Rutile Reserves: N/A

Largest Titanium Mine: Wuzhang Titanium Mine

China is the largest producer of titanium in the world, owing to its 190 million metric tons of ilmenite reserves. These deposits are greatly impacted by China’s Wuzhang Titanium Mine, which is considered a cornerstone of the country’s titanium industry. Because of such substantial ilmenite reserves, China’s mining output of ilmenite ore was also 3.4 million metric tons in 2022.

Hopefully this whets the appetite for others to dig into some of these companies and we can start putting some figures together after we get a full briefing from SB before the end of this month. He has planned an investor video call but dates TBC.

One thing is certain, at £13.72m Mcap - the current SP is one of the single best investment propositions on AIM.

Enjoy your weekends.

ML

8. Mozambique

Ilmenite Reserves: 26 million metric tons

Rutile Reserves: 0.89 million metric tons

Largest Titanium Mine: Moma Titanium Minerals Mine

According to USGS, Mozambique is sitting on approximately 26 million metric tons of ilmenite reserves and 0.89 million metric tons of rutile reserves. Mozambique is also home to one of the largest titanium mines in the world, the Moma Titanium Minerals Mine. This mine has one of the world's largest deposits of titanium minerals, whose 85% mineral deposits are of ilmenite. Furthermore, Mozambique yielded the 2nd highest quantity of ilmenite in 2022, which amounted to 1.2 million metric tons.

7. South Africa

Ilmenite Reserves: 30 million metric tons

Rutile Reserves: 6.5 million metric tons

Largest Titanium Mine: Xolobeni Mine

South Africa's ilmenite reserves total 30 million metric tons, which makes it a big name when it comes to titanium mining by country. Moreover, its rutile reserves stand at 6.5 million metric tons and give SA the opportunity to make titanium for multiple sectors. The Xolobeni mine is the country's primary source of titanium as it has significant deposits of ilmenite, titanium-iron ore, and zircon.

6. Canada

Ilmenite Reserves: 31 million metric tons

Rutile Reserves: N/A

Largest Titanium Mine: The Titan Mine

As of current data, Canada's ilmenite reserves are 31 million metric tons. This wealth of ilmenite crucially situates Canada within the global titanium market. Importantly, The Titan Mine represents Canada's principal source of titanium, as 14.8% of its mineral deposits are of titanium. However, Canada does not have rutile ore reserves and relies solely on its ilmenite deposits for titanium mining, which was 0.47 million metric tons in 2022.

5. Norway

Ilmenite Reserves: 37 million metric tons

Rutile Reserves: N/A

Largest Titanium Mine: Tellness Mine

Norway has the largest titanium reserves by country in Europe, as its ilmenite deposits are estimated at 37 million metric tons. These massive reserves and mine production of 0.43 million metric tons in 2022 were primarily derived from The Tellnes Mine, Norway’s chief titanium source. Interestingly, Tellnes is one of only two major hard-rock titanium deposits in active production worldwide and makes Norway paramount in maintaining the supply-demand equilibrium of this essential metal.

4. Brazil

Ilmenite Reserves: 43 million metric tons

Rutile Reserves: N/A

Largest Titanium Mine: Resouro’s Tiros Project

Brazil’s ilmenite reserves are 43 million metric tons, 4th largest in the world. But despite such expansive titanium reserves, Brazil’s titanium mining is limited. For instance, the country mined only 32,000 metric tons of ilmenite in 2022, which is nowhere near other countries with similar mineral deposits. The Resouro’s Tiros Project is the country’s main titanium source and is believed to be one of the largest undeveloped titanium projects worldwide.

ML

Tronox Holdings plc (NYSE:TROX), which has offices in India, South Africa, and South America is another key player. Tronox Holdings plc (NYSE:TROX) has a market cap of $1.92 billion and enterprise value of $4.59 billion. Tronox Holdings plc (NYSE:TROX) is headquartered in the US, and its primary product is titanium dioxide pigment (TiO2), that's commonly found in paints, plastics, and paper.

Titanium Reserves By Country And 10 Biggest Mines In The World:

To identify world titanium reserves and quantify their global distribution, we relied on the USGS Mineral Commodity Summaries report published in the start of 2023 that accounted for the year, 2022. The USGS annually publishes detailed updates on a wide range of mineral commodities and is internationally recognized for its comprehensive databases. We referred to these annual summaries as they stand as the most updated and detailed repositories of world titanium reserves.

Since ilmenite accounts for about 90% of the world's titanium minerals, we explored the USGS Mineral Commodity Summaries from 2023 to rank ilmenite reserves of 10 countries based on their Ilmenite reserves. However, given that some countries also have the capacity to produce titanium from rutile, we mentioned the rutile oxide reserves separately. For countries that don't have rutile reserves, i.e., China, Canada, and Norway, we wrote N/A (not applicable) for their rutile reserves.

10. Ukraine

Ilmenite Reserves: 5.9 million metric tons

Rutile Reserves: 2.5 million metric tons

Largest Titanium Mine: United Mining and Chemical Company (UMCC)

Ukraine has the 10th largest titanium reserve in the world, with ilmenite and rutile reserves estimated at 5.9 million metric tons and 2.5 million metric tons, respectively. Notably, the United Mining and Chemical Company (UMCC) is the principal titanium mine in Ukraine that exemplifies the country's contribution to global titanium supply chains.

9. Madagascar

Ilmenite Reserves: 22 million metric tons

Rutile Reserves: 0.52 million metric tons

Largest Titanium Mine: QIT Madagascar Minerals (QMM)

Madagascar has a substantial confirmed ilmenite reserve of 22 million metric tons and a rutile reserve of 0.52 million metric tons. The titanium resources in these minerals present the potential for industrial-scale extraction and substantiate the country's crucial role in meeting the world's titanium demand. The biggest mine in Madagascar is QIT Madagascar Minerals (QMM), largely owned by Rio Tinto Group (NYSE:RIO).

ML

For instance, rutile (TiO2) contains 93-96% titanium dioxide content. But since rutile's availability in natural ilmenite deposits is comparatively scarce, it doesn't impact titanium mining by country as much as ilmenite. Although rutile does form via high-temperature metamorphism and metasomatism in certain rock types, these specific geological circumstances aren’t as widespread. Consequently, the primary rutile ore deposits are in Australia, India, and South Africa.

Where Is Titanium Used?

One of the most frequently encountered titanium alloys, Ti6A-4V (consisting of 6% aluminum, 4% vanadium, and 90% titanium), is favored in the medical sphere. It is used in prosthetic devices such as knee replacement implants because of weight and lower modulus. There's a growing preference for using titanium in implants because it holds non-magnetic properties and is safe with MRI machines.

Ti also possesses resistance to cryogenic temperatures and maintains its structural integrity in aerospace applications, where materials are exposed to the chilliness of outer space. Likewise, this strength of titanium is valuable in the energy sector because it can be used in processes requiring low-temperature resilience. Furthermore, the majority of titanium is used as titanium dioxide as a whitener or filler material in the paint industry. The high refractive index, strong UV light absorption, and resistance to discoloration under ultraviolet light make titanium dioxide an ideal ingredient in paints.

Players Of Titanium Mining:

The Moma Titanium Minerals Mine, owned by Kenmare Resources plc (LSE:KMR.L) in Nampula, Mozambique, has one of the largest deposits of titanium minerals in the world. Estimates are that it contains more than 6.3 billion tons of mineral resources, out of which, a significant percentage is of titanium oxides.

Moreover, QIT Madagascar Minerals (QMM) owned by Rio Tinto Group (NYSE:RIO) is the major source of titanium dioxide for Madagascar. Its initial capacity was reported to be 750,000 tonnes per year of ilmenite and it continues to be a cornerstone in the country's mineral economy. Rio Tinto Group (NYSE:RIO) operates in Madagascar, South Africa, Australia, and Canada. Being one of the largest mining companies in the world, with a market cap of $116 billion, Rio Tinto Group (NYSE:RIO) is at the forefront of titanium mining and refining.

Allegheny Technologies Inc (NYSE:ATI) is another mining giant that produces titanium and titanium alloys. Allegheny Technologies Inc (NYSE:ATI) operates worldwide with locations in the US, Europe, and Asia, with 57 locations and 17 countries. Allegheny Technologies Inc (NYSE:ATI) is known for producing high-strength and commercially produced titanium that's used in the aerospace and architecture sectors.

ML

Titanium has exceptional strength-to-weight ratio and is derived predominantly from the minerals ilmenite (FeTiO3) and rutile (TiO2). The largest known titanium reserves by country of ilmenite ores are situated across a spectrum of regions. China is the largest producer of titanium in the world as it has major reserves of ilmenite ore that account for 30% of the world's titanium reserves.

Major ilmenite sources can be traced to the Panzhihua region in Sichuan province, China, which boasts the world's largest vanadium-titanium magnetite deposit. Another name with the highest titanium mining by country is Australia, which has both ilmenite and rutile reserves.

Norway, with its Tellnes open-pit mine, one of the world's largest hard rock ilmenite mines, also has a top rank amongst countries with the largest titanium reserves. Other substantial ilmenite reserves are present across Canada, Madagascar, India, South Africa, and Vietnam, each contributing to the global titanium industry.

Titanium is the fourth most abundant structural metal that makes up 0.6% of the earth's crust. When it comes to volume, titanium comes after iron, magnesium, and aluminum but remains exotic due to its resource-intensive cost. The global titanium market was valued at $28.59 billion in 2022. This market is projected to expand at a significant rate to reach an estimated size of nearly $52 billion by 2030.

Such growth hints at the increasing demand for this metal from the aerospace & defense, automotive, medical, and construction industries. Titanium's high strength-to-weight ratio, corrosion resistance, and high-temperature sustainability make it a reliable base metal for a multitude of sectors. Hence, aerospace manufacturing accounts for the largest share of the titanium market. Technological advancements in titanium production, such as the Kroll process, which was inherently resource-intensive, are also set to propel the market's expansion by reducing costs.

Significance Of Ilmenite And Rutile Ore

Ilmenite's chemical composition contains 40% and 65% titanium dioxide (TiO2), the chief constituent of interest in the pigment industry. It’s noteworthy that ilmenite can also be found in hard rock deposits, albeit with less frequency, which further adds to its widespread geographical distribution. Given the global mineral production statistics, ilmenite accounts for 92% of the world's titanium mineral production. However, the purity of titanium dioxide in ilmenite is lower compared to other titanium-bearing minerals like rutile, anatase, and brookite.

ML

Your, not you’re!

Damn autocorrect!

ML

News,

If it something that actually helps you then of course please keep doing what you need.

I’m just glad to know you’re KEYBOARD isn’t actually BROKEN :-)

Keep the research coming, I’ll be talking to Shaun in the coming days, I’ll ask him what he knows about P I Z H E M S K O Y E & report back his views.

ML

Hi News,

I don’t mean to be rude but is there any chance you could afford me the courtesy of posts without RANDOM capitals through the TEXT.

Thanks ;-)

ML

Thanks for sharing David.

ML

Up & running as and when that time might arrive.

Working in a pro-mining jurisdiction cannot be underestimated & helps us greatly with the likes of permit applications which will be approved promptly in Aus whereas they can take months & years elsewhere, only to be rejected.

Shaun is playing a blinder here & let’s not forget Andrew Farragher (formerly of Rio Tinto) is driving the boots on the ground work day to day. His involvement speaks volumes about what we have, and why he joined us.

Put everything together and this starts to become a proposition like only seen on AIM on a rare occasion.

I’m taking a back seat now and will happily go dark in terms of posting. No need for any posts that could be considered ramps, SB & results will do all the talking required.

ATB

ML

Trade this at your peril.

Making enough for steak and a bottle of wine on a Friday is one thing, but holding tight from this point on means you can dine on Japanese Kobe & Romanee-Conti for life.

For only the second time in my shareholder time with NMG / GEO / EEE I can feel things turning for the better and I now feel we are so very close to a line in the sand! The line being one where we see the SP increase significantly but most importantly the rise should be based on actual fundamentals rather than hype or potential that we have seen on some AIM dogs over the years.

The first time I felt this way the company was halted due to political & jurisdictional issues (Georgia). I’m unbelievably glad to say that mining in Australia is considered a key industry which almost completely eradicates any of the issues witnessed in Georgia.

Some key points & why this derisks that side of the business,

Overall, mining is seen as central to Australia and contributing substantially to Australia’s GDP and standard of living.

There is also little difference in how Australians perceive the importance of mining between mining, non-mining and metropolitan regions.

Most agree on average that mining is necessary for Australia, is important to their way of life, and that mining does & will support Australia’s future prosperity.

The perceived benefits from mining remain favourable given current high activity, especially for employment benefits, and there has been a significant increase in perceptions that mining contributes to improved infrastructure in regional Australia.

The main perceived benefit of mining is the creation of jobs. This includes the creation of jobs for Australians, employment and training opportunities in regional areas, and for Indigenous Australians including many women. Mining is considered to deliver positive benefits to regional and Indigenous communities, farmers & there have also been statistically significant increases in perceptions that mining improves infrastructure in regional Australia (roads, rail, transport, accommodation)

The Australian mining industry has made an important contribution to the development of young men & woman in the industry which has increased across all regions in the latest mineral boom or 2nd ‘gold-rush’.

Many agree that mining communities (similar to our various locations like Eclipse / Gindalbie / Walton / Stavely / Pitfield) receive their fair share of the benefits of mining and the hope would be that Pitfield can one day be a big producer of titanium. The local economy would take a massive uplift if we or Rio for example decided to base themselves there.

Outside of results, all these factors play a huge part in the likely success of a project & where Georgia was always up against it with our Russian ‘partners’ & Georgian red tape, Australian govt departments and legislators will be doing all they can to assist this latest world class deposit get up and run

48 times bigger!

Grades need to be factored in for full resource comparisons.

ML

Took almost 400k this week!

I never really give an ‘opinion’ on my posts but a £12m Mcap is all you need to know!

The potential is now being realised & based on industry, commodity, location based peers this could very well push us over £100m this time next year.

There is still a long way to go but the foundations are set for a very very good run on the SP.

As soon as Shaun puts a monetary value on this world class titanium deposit there will be no way to buy at anything near todays price.

The upside Vs downside is at a ratio I’ve not seen in years!

As the subject says, buy what you can, when you can. This is a well planned, highly likely & exciting opportunity.

DYOR

ML

Newsflow incoming!

SB planning a shareholder video briefing before the end of July to bring everyone up to speed on the titanium discovery.

Sounds positive & hopefully we might have more updates prior to that meeting.

Looking forward to hearing what’s ahead for Empire.

ML

Fair enough Dr.

I do my own research & make my own decisions.

If anyone here buys or sells on advice solely from others then I believe they shouldn’t be investing and would be better off sticking to savings.

GL

ML

All exploration and development companies post losses - eh that’s exploration!!!!

Same as Tesla posting 13 consecutive quarter losses until they have proved up what they were developing & hence 7 consecutive quarter profits. It’s business and here with EEE the minerals development business you clearly don’t understand.

You’re the type of Dr. that prescribes amputation of a nose for the common cold.

Got to love when trolls arrive, only means they are nervous about where the SP is going and fear their own mentality for not having skin in the game. Well I don’t mind the SP dropping as I’m looking to take more too :-p

GL Dr.

ML

Having reviewed GEI ltd. they currently own 3% of AIC Mines ($3.1m USD), 3.5% of AusGold ltd ($400k USD), less than 1% of Gascoyne Resources ($165m Mcap), less than 1% of Breaker Resources & 1% of Indiana Resources. All Aus companies in mineral resource industry.

Obvious they invest in companies outside of Aus too but my Chinese isn’t the best so outside of Australia is proving difficult to find out who is behind their fund.

Anyone else have any info on them?

ML