Member Info for Manlord

Trading this last week!

Utterly hilarious however well done to all of you who bought on the dip! I had €10k ready to go but I swore no more after my last €10k top up.

The selling makes no sense and because you see it happening it can sometimes make people think “ah sure they must know something I don’t” - they don’t and are just impatient seeing other shares jump up so they chase they rainbow never to actually see a rise anywhere.

I’ve never been so relaxed in a share and guess what? Most of that news we already knew but I agree with one poster who said it was not written well nor do umbrella RNS’s ever really go well. Most of it unnecessary and created some panic (for the non savvy) but anyway we move on.

Keep smiling all - the good times are this year, just don’t know when but no panic (been here 5 years almost)

ML

Nice buy Russell.

GL with that tranche.

ML

Empire’s share price spiked at 5.69p in early November as the good news from Eclipse rolled in: with results from its latest work programme due in the next month or so the price may be set to reach and break through that high in the next few weeks.

Interview here broken up url so hope it doesn’t hide it on me: https:// total-market-solutions.com/2020/12/ empire-metals_dec-2020/

ML

Earlier this month Empire confirmed a new 4,000m drilling programme comprising more than 40 holes, designed to infill the first phase drilling as well as test extensions to the mineralisation at Eclipse both along strike and at depth, including better definition of the near-surface resource potential. The programme, which is expected to take four to six weeks, will also test known mineralised structures parallel to the main Eclipse vein, which have historically yielded attractive intersections.

Set fair for 2021?


Empire’s solid progress on the ground at Eclipse comes as the price of gold is touching the levels it reached during its rally last summer. Gold surged to a record of $2,072 an ounce in August due to the economic fallout from Covid-19, and earlier this month reached a two-month high of $1,959 a troy ounce, driven by rising expectations of inflation stimulated by Covid recovery packages and a fall in the price of the dollar (a cheap dollar makes gold and other commodities less expensive to buy in foreign currencies).

After some challenging times over the past couple of years the stars now seem aligned for Empire as the company moves into 2021. It’s share price continues to trend upwards, now around 4.4p, up from 2p just prior to the Eclipse deal, taking the company’s market cap to £13.5m. Following its November fund raise and the planned – though as yet unconfirmed – sale of Bolnisi, Empire has the funds to carry out its work programme. The company’s last set of interim results reported a pre-tax profit of £256,515 for the six-month period ended 30 June 2020 (six months ended 30 June 2019: loss of £377,327), and a net cash balance of £364,369 (year ended 31 December 2019: £50,840).

The agreement commits Empire to some significant internal reorganisation: Empire CEO Mike Struthers and Non-Executive Chairman Neil O’Brien will both join the Candelaria board, the former as CEO, but will retain their positions on the Empire board, with Mr Struthers moving to the position of Non-Executive Director. Candelaria will resume Empire’s efforts to resolve the licence’s permitting issues. It should be noted that the agreement is subject to approval by Empire’s Georgian partners, the Caucasian Mining Group, which has yet to be confirmed.

Progress at Eclipse


In the meantime Empire has made good progress with its initial work programme at Eclipse. In October the company began a 2,300m drill programme designed to test mineralisation at the main Eclipse shaft, and Houdini, which soon yielded its first positive results, the assay results for one drill hole recording 14m @ 2.57 g/t Au from 94m downhole, including 4m @ 4.98 g/t Au from 97m.

By December the initial work programme, comprising soils geochemistry, a ground magnetics geophysics survey, and Reverse Circulation drilling, was complete, giving the company detailed geophysics over the whole area that will guide future work. The results in Eclipse’s uppermost 50 metres indicate mineralisation is open at depth and promising findings included those for hole ECRC20-022, which recorded 14m @ 3.78 g/t Au from 22m, including 1m @ 21.4 g/t Au, and 1m @ 16.65 g/t Au, indicating the potential for a profitable and high-grade open pit operation.

Eclipse’s long history reflects Western Australia’s gold mining heritage. The mine, which has changed hands several times since the turn of the last century, was sunk to its current depth of 78 metres in 1910, and has recorded historic production of 954 tonnes at 24.6 g/t Au for 754.25 oz Au. Sporadic re-exploration since the 1990s has hinted at the mine’s continued potential. A 2014 drilling programme identified high-grade mineralisation within a 30 metre zone either side of the main Eclipse shaft, and soil surveys have indicated elevated gold concentrations in portions of the Eclipse mineralised system. Two additional targets have also been identified, the Houdini and Easy prospects, north-west of the main Eclipse shaft. Empire completed a placing in November to raise £2m to support the acquisition and an initial work programme.

An agreement to sell Bolnisi


As the programme was getting underway the company released further good news, announcing an agreement to sell the Bolnisi Copper and Gold Project in Georgia to Canada-listed Candelaria Mining Corporation (TSXV:CAND). The agreement – an all-equity total consideration of CAD$7m – gives Empire exposure to Candelaria’s promising development projects in Mexico, as well as a continued stake in Georgia through an equity holding in the Canadian company. Candelaria’s primary focus is the prospective Pinos Gold Project, an underground mine with combined Measured and Indicated Mineral Resources of 25,000 oz of gold and 497,000 oz of silver, where the company is working to produce 13koz of gold a year over a seven-year mine life for an all-in sustaining cost of US$835/oz.

Last April, seeking to diversify its interests beyond Georgia, the company entered into a Binding Heads of Agreement with Australian-listed Artemis Resources Limited (ASX:ARV) to acquire a 41pc interest in the Munni Munni Palladium Project in West Pilbara, Western Australia, a 64km2 exploration licence with a JORC-compliant Resource of 24Mt @ 2.9 g/t Platinum Group Element (PGE) and gold (12.4Mt Measured, 9.8Mt Indicated, and 1.4Mt Inferred). A drilling programme got underway in June, with 12 holes being drilled at the location to a depth of nearly 2,000 metres and the samples sent for analysis.

But this project too has been troubled by ownership issues. In July Artemis was served a writ of summons by its Munni Munni joint venture partner Platina Resources Limited, which claimed that the agreement with Empire breached the terms of the venture. The dispute is ongoing, Artemis defending its position against Platina’s claim.

A potentially transformative acquisition


Just a few weeks later, however, Empire made what seems to have been a game-changing breakthrough: an agreement with Philips Exploration Pty Ltd to acquire a 75pc interest in the Eclipse Gold Project, also in Western Australia, for AUD$100,000 (approximately £55,000) in cash, with a further AUD$150,000 (£82,144) to be settled through the issue of shares. The agreement includes a provision giving Empire the option to acquire the remaining 25pc of the project. The numbers included are for the option, to exercise the option, and the consideration was AUD$1,000,000 in cash and AUD$1,000,000 settled via the issue of 14,191,020 new ordinary shares as per the announcement released on 10 December.

“…With results from its latest work programme due in the next month or so the Empire Metals share price may be set to break out…”


For exploration and resource development company Empire Metals (AIM:EEE) 2020 was a challenging, though potentially transformative year, with some key acquisitions and sales enabling the company to move into 2021 in robust form.

Until August Empire’s primary focus was its 50pc interest in the Bolnisi Copper and Gold Project in the country of Georgia. The Bolnisi concession, covering an area of more than 860km2, is situated on the Tethyan Belt, a well-known geological region in the Caucasus hosting a number of high-grade copper-gold deposits and producing mines. Empire has tenure over two deposits in the project licence area, Kvemo Bolnisi East and Dambludi.

But the project has been dogged by a dispute with the Georgian National Agency of Mines over rights to the rest of the Bolnisi Project licence area, which includes three other significant deposits. Empire is appealing against the Agency’s position.

Nice buy Russell.

Gl

ML

Without all the hype or rampy madness is exactly what we want to see.

The chart looks great and we are going through the perfect motions of sustainable rises followed by some people taking profit and being replaced by new blood looking for a better return than the previous holder of the very same stock.

There are levels here and with previous highs of 24p (IIRC) I actually think we haven’t even begun the rerate at this point in time.

With all the news incoming coupled with the face we were only down here from the Georgia government permit fiasco in which we were hammered for 2 years of no progress the gap from here to fair value is significant.

The gap will close soon enough and whether you’re in at 3,4,5 or 6 will pale in comparison to what the SP can spin off to in 2021.

It’s a very exciting time to be an EEE holder.

GLA

ML

Try to filter the constructive advice from the “advice” referencing absolutely nothing to do with a man mentioned in a previous post.

What you should do is read the RNS’s from that period and you will find that we had a Georgian government thrown out (causing permit delays to our licence area) and then we had a new minister who was approving very little so our work could not continue, they had issues with our JV partner and the SP dropped whilst we essentially closed.

That as some may like to present was nothing to do with us nor could we control it.

We have now very cleverly diversified our business and can control every last element of the gold in Houdini / eclipse.

I hope that’s answers your question properly rather than a sniping and factually incorrect reply from others.

GL

ML

To buy when it’s quiet!

Why people buy or feel comfortable buying when everyone else is never made sense to me.

The dips is when you buy but beating that psychological blocker is important if you are to make good choices.

The SP is down but the prospects have increased - why wait for the traders to return to pay a higher price!!!!

ML

My guess is there is a significant background sell in play! In the millions by the volume today.

Lets see if it gets printed or continues tomorrow.

Either way it’s good news as they’ll be out and others bought savvy on the dip opportunity.

On we go!

ML

Nowhere near 4p range!

This is going to go bonkers in my view.

Phase 1 Results due.
Phase 2 Drilling started.
Possible Acquisitions in WA - CEO has confirmed that
Cash injections from first refusal Georgia with JV partner.
Company ownership from Mexican Gold (2nd option of Georgia).
Gold Nuggets previously found at Eclipse tenure - CEO has confirmed - link on youtube - you’ll find it if you search “
Empire Metals looks to Western Australia for expansion” - great summary from 2 weeks ago.

LATEST RNS:
intersected 2m @ 16.34 g/t Au from 66m downhole, in a structure that appears to be 20m north-east of the Eclipse vein trend). The confirmation of additional parallel mineralised veins could significantly enhance the surface open pit potential.

Sit back and relax - this is set to be a lot of fun with a lot of SP enhancing news.

ML

Trump & America!

No words

ML

Best wishes to all & hope you enjoyed the Christmas break.

Nice to see a sustainable rise without any silly spikes.

The FIRB approval was a timely but key indicator that working in a reputable mining environment is a solid base for future development & success. Can’t remember the last time we received an approval (Georgia joke there for the LTH’s amongst us)

The surface hadn’t yet been scratched here and whilst I’d never dissuade anyone from taking profit on momentum shares, this has the hallmarks of quite a bull-run into double digits so I’d strongly suggest a quick re-think as to your strategy if and only if you were planning a % increase trade. The Mcap V peers is outrageous and the lineup of work coupled with general gold sector conditions really has presented quite a good opportunity for those willing to separate the wood from the trees.

GLA whatever your strategy.

I’ll reassess as we head towards & likely past 12p in Q1 (assuming time lines & plans are on track). 4p is a steal but loading up below that was daylight robbery :-))

ML

Lets hope so GG!

ML

I think the lull is seen every year and as most are now focusing on closing up for Xmas and getting everything ready to go for the next two weeks it’s to be expected.

This is only going one way, fully funded, no need for any cash calls & a ridiculous Mcap V peers.

This coming March people will wonder why they didn’t buy more but won’t be crying over it as the SP will be in a good position.

Merry Christmas to each & every one of you.

Stay safe & see in the New Year (assuming no news over the next two weeks)

ML

Showing as an “unknown” trade which is a good sell for the seller or a good buy for the buyer being 0% spread either way.

Ok now you can release the mega grades and nugget confirmation at depth :-)

Has helped me average down a small bit but my holding is maxed now. Feet up & relax now.

ML

Contracted :-)

Roll on Q1

ML