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I agree with Rustyrat on this. For me its about volume, even though the tape shows buys and sells, for each you need both a buyer and a seller.

This RNS was great news, but remember this is just confirmation what we pretty much knew already. This project is being sold as a world class project, this is just confirming that statement.

Also there will always be profit taking along the way, RNS like this will generate more interest in buyers wanting a piece of the pie, but the other side to that is those who bought lower and are using today's news as an opportunity to bank some profits.

The 88p highs of last year, were the initial results confirming what we thought, but we didn't know for sure. Now we know, these RNS's are more confirmation than major rerating potential.

Once the MRE is released, that will show not only what the ore is worth that is in the ground, but also how much its going to cost to extract the product and get it to a form that can sold on. This is the driver that I fully expect to re-rate this share, especially if the value of the product, massively outweighs the costs to setup the mine and the cost to process it. Then we are talking about potential profits to the company. That is a huge selling point for major investment. At the moment, today's RNS doesn't offer us a monetary value, what it does do is show that the levels in the ground are massive. Just another step forward, by further de-risking. Another big green tick in the box.

Finally, the ASX listing will also open up the doors to pension funds and other institutional buying that are restricted from buying AIM shares, especially those that hasn't released a full MRE. They are waiting for the full costs to be disclosed before they will commit. Anyone who has been following Empire Metals throughout the last 18 months - 2 years, will know we are sitting on a potential massive payday, the institutions will also know that, but if they are restricted due to internal rules from investing now, doesn't mean they will not invest, they will wait until they have every box ticked. For me, that is the MRE and then the ASX listing.

The next major milestone will be the ASX listing. ASX values mining companies at a premium versus AIM, especially those local which this is. Not only will there be local interest, there will be a bigger liquidity pool that AIM doesn't have.

As a side note, I recently read that there are plans to upgrade the facilities at the port of Geraldton as its wheat and iron exports are already running at near capacity and it foresees that future demand for the port will result in bottlenecking. No official mention of Empire Metals, but due to the earmarking for substantial investment in porting operations, clearly shows that they are factoring in mining capacity in Three Springs as a massive operation which is a further indication the WA government is clearly planning for the future, it knows what it has in the area and is making plans now to do so

This feels like the calm before the storm at the moment :)

Unfortunately that is just how the AIM market operates.

Most of the trades that happen are off book trades reported afterwards by the MMs rather than trades happening against the book. The reason the UT is dropping is those quotes that appear on the book and pretty much sit there untouched throughout the day then go throw a auction clearing at the end of the day. So low buys can pull the UT back down.

As these are not active throughout the day the most meaningful are those reported trades and without calculating it properly I would guess the average trade price of those was around 37p or just under.

That to me is the current relevant price.

I'm not an economics expert but that is how I see it. Anyone with a better understanding feel free to correct me.

GL everyone and here's hoping for another day of strong buys, at some point that coil will snap back. Unless there is a hidden seller who is offloading a lot of shares to a MMs and they are using them to fuel these buys. Time will tell who ends up winning the battle, for myself I am supporting the buys.

Mark

Agree, looking good so far, I even bought another 55k shares this morning myself, feeling like its finally starting to move. Yes I know famous last words :D

Yeah but not all bad as the MM's will need to rebalance their inventory at some point and they will be forced to push up the asking price to encourage more sellers. So its now a case of wait and see and hope a bunch of sellers don't offer cheap shares they can reacquire. Side note, there has been a lot more on book trades today, usually its all done via MM's and offbook trades and the spread is a lot closer than the norms have been. hopefully its a coiled spring ready to jump upwards.

Morning all, as I see it at the moment we are at the mercy of the MMs whilst restricted to the AIM market and what we need is a catalyst to encourage buying volume. Most trades that happen are off book trades and some small trades keeping the price grounded. Though its worth stating I did see a small buy after a big sell last week that pulled the price back up. Once we have the key to unlock the dam then I fully expect those buyers who are avoiding AIM shares that are inferred rather than proven to step in, plus the impact of ASX for those who won't buy on AIM to step in as well. The current investors who like me are waiting and hoping to see that big wave come along and take us to the big ocean. Without substantial news then I expect the price to stay roughly where it is as no one either can or wants to bid big without the information to do so.

GL

Mark

Thanks all, interesting to see what others think. Me and an investor friend was discussing shares in general over the weekend and not sure how but we got onto talking about consolidation and then if it would benefit Empire. He doesn't invest in Empire but does hold other mining shares but has better knowledge about these things than I do.

Out of curiosity I just asked the same question in 2 different AI tools, 1 said its highly likely and the other very unlikely haha brilliant. 😄

Morning all,

Wanted to see what everyone's opinion was whether you think EEE would undergo a share consolidation prior to going live on ASX. The more I think about it and look at the benefits I believe it would be a good move. Especially as it would rerate the SP over A$1 so encourage more big institutions who avoid the penny stocks.

I know there is the misconception that a consolidation is bad especially those chasing the smaller percentages but for me if it encourages big money moves by being within the price criteria large firms look for that could only be a good thing.

What your thoughts on this and do you think it's likely to happen?

Haha love it.

Couldn't agree more. I know Manlord likes his analogies so I'll use one of my own. I treat investing and especially with Empire as a kin to gardening. They take patience, a good foundation and a bit of luck. For me Empire has those things already and is following a very clear process which can only mean good things for investors. Gardeners don't stick a plant in the ground and expect it to flower and fruit a week later, there will be ups and downs along the way but as long as they get water when they need it and some sunshine then all will come good in the end. Empire is the same though water and sun are ASX listing, MRE and flowcharts. We have the management we need now it's about being patient and hoping the sun continues to shine. With a bit of luck that sun and water will create a rainbow and there will be a pot of gold at the end of it.

Honestly won't admit to understanding everything that is discussed on here as still learning the trading mechanism and terms myself, but for me as a investor in EEE I am hoping that the listing on the AUS markets will help to push this in the right direction. The recent results have certainly been positive yet the price hasn't reacted how I personally hoped. This is and was always a longer term investment for me but like others I do have a sense of kicking myself when it hit 70p last year but we live and learn. Just my 1p thought and entirely my own opinion that I hope when the CAPEX and OPEX costs involved in this project are announced plus the AUS listing then I think we might start to see some really positive momentum.