Member Info for Manlord

This is potentially the biggest & most lucrative update Empire have communicated.

90% discount to placing price (placing wasn’t done to keep the lights on) so it’s load up time again (I already had closed off my holding) given this latest news.

£5m Mcap is ludicrous if what we’re being told is correct so a £25m + Mcap is entirely feasible with the right winds behind us.

Reassess time for me! And in a positive sense.

ML

But can’t help feel that 1m buy yesterday was done so with prior knowledge - in fact I’d be sure of it.

That type of trade usually ends up being sold into the expected rise so will be interesting to see if 1m exits the building later today.

My guess is he / she was certainly hoping for more than 6% rise minus the spread.

Anyway - good to see this latest update and maybe we will see an interview with Shaun explaining in more detail.

ML

Nice buy!

ML

to the placing price is quite a steal. Nothing has changed from when this went to 2.5p and with news due my guess is that the initial on-site results were positive and we've seen some large buys based on that, or it could be just a speculator who is trying to build a stake with an eye on the future developments of this Aussie Gold developer.

With Aussie winter coming to a close and spring on the way we could see ourselves getting through a lot of dirt the next 2 quarters and if it plays out like the BoD think it will we could all be sitting on multiples of where we stand today.

So much more excited and confident of big news here than I have ever been before. The foundations are being laid correctly and the team are going about their business patiently.

ML

Agreed Bullseye!

I can’t honestly think these two are adults behaving the way they do on this BB.

It’s as if they have no life outside of LSE. Anyway, I’d be wasting my valuable family time if I spent anymore than 2 mins here.

Enjoy your weekends. Roll on Thursday ;-)

ML

£7k buys v £7k sells and company Mcap down £250k

You gotta love AIM

ML

At the seemingly low mental capacity of some posters here!

I click in expecting some reasoned debate (some posters offer that in fairness) but mostly I see pure diatribe directed towards the normal PI who is here trying to offer advice & opinion ON POLY!!!!!

Up your game ladies & gents!

ML

Less shares sold & bought today than I own myself & 10% drop in Mcap. Completely illogical!

ML

for clarity,

Once the broker (Shard Capital) contacts their clients on behalf of the company (EEE), the institutions and clients are sent an invitation and must agree to the market sounding where they are given the details of the share placing (2p)

The market sounding discloses the nature of the information as inside information and requests full compliance outlining that it is a criminal offence to trade, modify an existing order, or incite someone else to trade on the content of the placing information.

Such persons who break the insider agreement may find themselves in hot water if they break MAR but given the selling right down to the placing price you can be sure that someone was doing this or had passed on the information to someone else who then managed to offload their shares to an unknowing person.

This of course is all my opinion and I have no factual evidence of such matters.

ML

You can be sure that some of those who took part in the raise have sold a decent portion of their current stock from 2.5p down to where it was just before the placing RNS. How much of it is what we don't know but if they had a million shares in EEE prior to the Shard Capital phone call for example and were offered another million at 2p when the current SP was 2.5p then lots would certainly sell at a price above that knowing full well that the SP was going to drop to the placing price.

It's a dark art and I have different views on it given some of the placing shares would have been sold to traders or those who are not considered "sticky buyers" and would have sold whatever they could to make a profit and some want to hold the shares and build their stake in EEE.

I would say all the sells from 2.5p down to the day before the placing RNS were in on the placing - If someone is bothered to total up the volume sold over those days it would give you an idea of what has been churned through. Hopefully a good portion of the placing shares landed in sticky hands and hopefully they will hold for a greater return.

Given no real drop today or significant volume I'd say the sells are done for now until any rises are sold into for profit, which is obvious as the SP is now below the 2p placing price and all sells would be at a loss of 5% to that buyer.

ML

Art,

You do realise that whether you were an existing shareholder or were planning to buy in, dilution should be a very big factor of consideration for you.

Based on your views being completely different to mine I’m not sure I can add anything of value to our dialogue.

I’m sure your investment will go well either way.

GL

ML

*best*

Apologies.

ML

so let me get this straight, you would have preferred the company to not raise at 2p, let the company share price tank (your words), drop to 1.5p (random price) but yet presumably want EEE to expedite their work and generate value adding newsflow but in order to do so raise money at a lower price and thus increase dilution by 33,000,000 shares? circa 10% additional dilution...................

Sorry but that is a flawed view on what's bets for the company.

ML

Art, no offense but you seem annoyed about missing a lower entry point than anything of real worry?

You could have got in at 1p last month, 1.5p 3 weeks ago, 2.5p a week ago - it matters little. If you're here LT then the £0.005p will make absolutely no difference. Empire will rerate significantly based on its future success or it won't. Focus on the fundamentals and not the incidentals.

ML

It was myself that asked the question Re; multiple project ongoing and a historically poor performance of bringing projects to fruition which has created a market that seems to be a little bit apprehensive about what will happen here.

I was hoping for the panel to deviate from the pre-scripted presentation (which was very informative) so that I could get a very honest appraisal of what they really believe is ahead and how confident they are about their plans. SB & NOB tackled that with some degree of authority and gave a very detailed explanation of where they believe shareholder value will come from and it is not just from completing a project. They believe the drill results and our mining location is one of the biggest and most important catalysts for our share price to meet peer valuations and possibly exceed those.

Had to take a call mid-way through the presentation so need to catch up with some discussion areas but overall I'm happy with everything and the direction we have taken / going.

I did hear SB put his neck on the line and say results "should" be received within 2 weeks and communicated to market. Many streams of newsflow and will get pretty exciting throughout 2022.

Will catch up later

ML

SB really excited at the recent results at Gindalbie. High grades located and confident that similar exciting news can be communicated within the next months at different locations which will start RC drilling.

ML

GK jumps in to stress the point that Empire were already in a healthy financial position prior to the raise and all proceeds will be used to expedite the projects. He finishes with "The company is in an extremely strong financial position post raise"

ML

Neil O'Brien has been very busy and is currently in Perth visiting the team and seems pretty excited when he discussed the "excellent" results from the drilling campaign.

I think having him highly involved with the current projects speaks volumes.

ML

Correct Monty but the reasons for these previous failing are clear to all.

That company and its focus have completely changed and for the better seeing as we have no governmental / JV issues nor are we mining in a tricky jurisdiction, in fact we're mining in the best place possible.

No doubt about those failings but this is a different animal now and having been let down over and over whilst not selling a single share (in fact I've been building and building) I'm certainly not going anywhere anytime soon now that we have a strong focus on developing shareholder value in a place that could be very lucrative for the business.

GL

ML

Agreed Rupple, I too was very concerned at the start of this change period but Shaun is doing exactly what I had hoped he would although I will say I have been very impressed with his level of honesty and integrity.....................Let me explain why! The placing is not one to keep the lights on like so many AIM companies and is going to be used purely to drive short-term wins and ensure the momentum created will continue and be sustainable. It was also completed prior to an investor day which is different to most AIM companies who drive the SP north by generating activity and then BANG - placing to keep the lights on is RNS'd. Shaun, Neil have done this the correct way and should be given credit for that in my opinion. Shaun also doesn't hype anything and whilst the investor in me would love the share to be hyped to some extent, deep down I know this is the best way to ensure a positive long-term position as opposed to a short-term bump up followed by a smack in the face let down. He just gets on with it and seems confident, yet rational about what he needs to do. Long may that continue.

I remember taking part in a Shard Capital placing in BMN at 3p, fell to 1p and then went to 50p so I take no notice of the market interpretations as most on AIM are short term based but if you just keep the fundamentals in focus and filter the BS then you can see that what they have managed to do here is very exciting for anyone involved.

As a side note I spoke to Mike on Tuesday and he's keeping well. Is still involved with the board and works closely with them but has no major day to day involvement with Empire as he is in his new role and things seem to be going well enough. He also seems to be looking forward seeing what the next phase for Empire holds given he is confident the company has a much brighter future ahead. As he pointed out, these things (the new Aussie gold focus) often take a long time to turn around but things are certainly looking good now.

Enjoy the bank holiday all - See you Tuesday.

ML