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When you look at what Jan has and the area of proven gold this share price will see a rerate, but 1st we need updates on the drills, very good PR, and even video's of the work going on, this will bring more attention.

The price of gold is at it's high's and open pit mines are much lower costs to produce.

If they can prove up the gold to 350,000 oz Jorc, and then continue to build up to 1000,000.00 oz Jorc this will really reflect on the share price.

Open pit mine producing 20,000 per year will cost around $1000 per oz or even less, with gold at $3500 per oz this will be very lucrative, even with 33.3%.

On low costs mines you don't need to produce a lot to see it reflex in profit, the higher the grades of gold the better.

Indication of share price based on just production.

cost price: $1000 per oz

price of gold $3000 per oz, lets do less for costing.

20,000 oz per year.

£0.15p per share - high side £0.30p per share based on 33.3% based on 641 million shares in issued.

£0.21p per share - high side £0.42p per share bases on 50% based on 691 million shares in issued.

This does not factor in what is in the ground and any updates.

For a product new on the market, I think it is very disappointing, especially when there is science to back the cream up.

I also find the price range to be on the higher side.

I was hoping for a bit more POW and excitement and they have generally not shown anything of the sort.

I did go into boots and advised some of the staff about this product who has not heard of it and when i showed them the cream the staff advised we we not pay that amount.

I do hope they listen to share holders and read this forum so they can learn and improve.

Without sales the share price will not improve.

At present a lot are looking at WSBN, FDR and GEO due to a possibility of any signed of gold, even i am invested in FDR and GEO.

This company has gold and just needs to prove it up and creating the open pit mine so they can start producing, this will really turn the corners round.

Exploration launched: Fully funded programme underway at Paranaíta to validate the existing 210.000 oz gold ("Au") and targeted expansion to ~350,000 oz Au, under JORC reporting

Fast-track PEA: Targeting delivery within six months of a PEA for a high-grade, open-pit operation producing ~20,000 oz Au/year.

We have 7% of BRES, this share looks to start moving up now. This should be positive for us.

The company has been waiting for September as a lot of investors are back from holiday season.

I can not see much in terms of sales until they gear up the campaign.

The company needs to start listening and broaden the clients and push hard now for DTC to deliver.

Kongolasse,

You are right and it is AI, was checking a few sites and information just to give some sort of broader valuation.

apologise on the sending the information I though it was an interesting read on general bases.

Final Share Price Estimates Summary

Scenario Value per tonne (TiO₂) Market Cap Range Share Price (GBp)

Current (Speculative Exploration) $0.05–$0.10/t £250M 35p

Resource Upgrade (JORC) $0.10–$0.50/t £650M–£3.25B 90–465p

Feasibility/Production $1–$10/t £1.3B–£13B 1,850–18,600p

With 700 million shares issued, we need to recalculate the potential share price based on different valuation scenarios for Empire Metals' titanium (TiO₂) resource. Below is an updated breakdown using the 27 billion tonne (Bt) TiO₂ resource and industry valuation benchmarks.

Key Assumptions, Total Resource: 27 Bt @ ~6% TiO₂ (1.62 Bt contained TiO₂).

Shares Outstanding: 700 million shares.

Current Market Cap: £250 million (~$315M USD).

Exchange Rate: £1 = $1.25 USD.

Valuation Scenarios & Corresponding Share Price

1. Exploration-Stage Valuation ($0.01–$0.05 per tonne TiO₂)

At this early stage, the market assigns minimal value per tonne due to high uncertainty.

$0.01/t TiO₂: $16.2M valuation → (~£13M) → Implied share price: ~ 1.8p (far below current price).

$0.05/t TiO₂: $81M valuation → (~£65M) → Implied share price: ~ 9p per share.

Why is Empire worth £250M (~35p/share) despite this?

The market is pricing in future upside beyond just the raw tonnage, such as:

Potential high-grade core (>6% TiO₂).

Possible low-cost open-pit mining (near-surface mineralization).

Speculative titanium metal potential (higher margins).

2. Development-Stage Valuation ($0.10–$0.50 per tonne TiO₂)

Once a JORC/NI 43-101 resource estimate is completed, valuations typically rise.

$0.10/t TiO₂: $162M valuation → (£130M) → 18.5p/share.

$0.50/t TiO₂: $810M valuation → (£650M) → 93p/share.

This fits Empire’s current £250M (~35p/share) valuation, suggesting the market is projecting this into a late-exploration / early-feasibility stage.

3. Feasibility/Production-Stage Valuation ($1–$10 per tonne TiO₂)

If Empire proves economic viability, the valuation could skyrocket.

Valuation Benchmark Implied Market Cap Share Price (GBp) Potential Upside

$1/t TiO₂ $1.62B (~£1.3B) 185p (~2.6x current)

$5/t TiO₂ $8.1B (~£6.5B) 930p (~13x current)

$10/t TiO₂ $16.2B (~£13B) 1,860p (~26x current)

Key Trigger: Resource upgrade + feasibility study could push Empire toward this range.

Realistic Share Price Expectations

Short-Term (Next 12–18 months)

If Empire confirms a +1Bt JORC resource + economic studies, £500M–1B market cap is feasible (70–140p/share).

If TiO₂ prices rise, speculative momentum could drive it higher.

Long-Term (Production Potential)

Mining feasiblity + capex secured → £5–10B market cap (700–1,400p/share).

Comparative Valuation vs. Peers

Company Market Cap Resource (Bt TiO₂) Value per tonne Stage

Empire Metals £250M 27 Bt (inferred) £0.009/t Exploration

Savannah Resources £50M 4.4 Bt (inferred) £0.011/t Exploration

Base Resources £125M 1 Bt (economic) £0.125/t Feasibility

Kenmare Resources £250M 1 Bt (production) £0.25/t Production

Interpretation: Empire is discounted vs. peers due to early-stage risk, but scale potential is unmatched.

If Empire upgrades resources to "indicated/measured", it should trade at £0.02–0.10/t, implying £540M–2.7B mark

Lets hope the PR works and brings customer on board, it is on the high price side and i did view my opinion, below was the response i got.

Our skincare range was designed with science to make a significant difference to skin and to be a market game change amongst many high end products/serums.

Extensive research and market pricing benchmark work was undertaken when we first designed for launch,

I got a response back, and the company is working hard and preparing in the back ground.

News should not be to far out.

ScienceNorth, i am also surprised, i have sent emails to Suzanne Brocks and no response back.

I am hoping they are working in the back ground, i am hoping they will not disappoint and advise of another issue to why it is delayed to Launch.

I find it hard to understand why HEX is still struggling to move pass 30p, with so much positive news HEX has not really been getting the response, this was also the same as EEE and then a rerate started to happen.

When you read the positive news on EME about the gas sales agreement and they hold 8.5%, a rise of 450% you can not knock and i am happy for EME share holders to finally get some positive news.

It was be most welcome when HEX has sale agreements in place and once we go into production the market hopefully release the value and if we get over a £100million valuation and we can keep above this for 3 weeks this will then open the doors to institutional investors.

I bought via the Barclays app, this should start to get interesting as the company is preparing for launch of there products.

Q3 2025 the 100,000 units to be sold by 31st March.

Once started to revenue stream should show quickly, need more Pod Casts and PR now we are getting closer.

How do you buy these shares, i use IWEB and trading 212

Guys let it be, we are all here for EEE to have a big success and to make money, we have come this far and a lot more further to come, let bring talks about EEE. It benefits us all.

A great company and a board looking to max share holder value.

I just hoping one day EEE will now they have been approach by a number of parties interested in get involved this would accelerate the getting into production.

HE1 has still got a long way before any production.

HEX production this year and maybe 3-5 wells if all goes well,

I still don’t see the market waking up to a small cap so close in getting to production and how successful 3 wells have flow tested so far.

Not much of a response on the share price, hoping soon this will change.

Manlord the current drilling being done no result yet has been advised, EEE normally provides as they go along.

Do you think this will happen.

Hi MuVww you are right it is 40km by 8km by 5km deep, even bigger then i thought.

Hi TimSmith12,

Not sure how far the share price would go but i am waiting for the MRE to be announced, we all know this is one supergiant mineral system and we will not see anything this big for years to come, the Pitfield would need multiple JV's due to the size in my opinion, Rio Tinto has the Bingham Canyon mine and that is pretty huge, the biggest coppermine.

Pitfield is 60 times bigger then Bingham, how can one company manage something this huge, even the big boys would need to work together on this to make it happen.

I thought I would check how the size of pitfield compared to other world largest mines, just to get a scale of the size.

Let's break it down: Pitfield spans approximately 40 km long, 3 km wide, and up to 5 m deep-that's a volume of about 1,500 cubic kilometers.

Now, compare that to some of the world's largest open-pit mines:

• Bingham Canyon Mine (USA): Roughly 4 km wide and 1.2 km deep-about 20-25 km* in volume.

• Escondida Mine (Chile): Around 3.5 km across and 600 m deep-estimated 5-10 km*

• Super Pit (Australia): About 3.5 km long, 1.5 km wide, and 600 m deep—roughly 3 km* So, depending on the mine, you could theoretically fit:

• 60+ Bingham Canyon-sized mines

• 160+ Escondida-sized mines

• 500+ Super Pits

Pretty outstanding to the scale.

I thought I would check how the size of pitfield compared to other world largest mines, just to get a scale of the size.

Let's break it down: Pitfield spans approximately 40 km long, 3 km wide, and up to 5 m deep-that's a volume of about 1,500 cubic kilometers.

Now, compare that to some of the world's largest open-pit mines:

• Bingham Canyon Mine (USA): Roughly 4 km wide and 1.2 km deep-about 20-25 km* in volume.

• Escondida Mine (Chile): Around 3.5 km across and 600 m deep-estimated 5-10 km*

• Super Pit (Australia): About 3.5 km long, 1.5 km wide, and 600 m deep—roughly 3 km* So, depending on the mine, you could theoretically fit:

• 60+ Bingham Canyon-sized mines

• 160+ Escondida-sized mines

• 500+ Super Pits

Pretty outstanding to the scale.

I am finally out, 12 years of investing.

I have taken a big hit and now invested in HEX, hoping for a more positive outcome as they will be in production soon.

I wish you all lots of luck