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I think it is disingenuous not to have mentioned it in the RNS as it is hard to tell the difference if you read the RNS on sites like London South East. The NOMAD should have flagged this up

The London Stock Exchange website clearly indicates that it is an RNS Reach

Agree Misty, I should have also mentioned YA and River selling their monthly allocation.
An RNS Reach is one of the oldest tricks in the book to try and pump a share price as the vast majority of PIs don't know the difference and it wasn't even made clear in the RNS.

Fowler probably thought an RNS Reach would help clear the sale of shares that were just converted.

I hope you realise this was a non-regulatory RNS Reach.
RNS Reach is an investor communication service aimed at assisting listed and unlisted companies to deliver non-regulatory news such as marketing messages, corporate and product information

More like the bond holder needs some funds. It only makes sense to convert if you want to sell the shares. Otherwise you'd continue to hold the bonds, accrue interest yet still retain the option to convert.

Good to see the new equipment arriving at the mine which will help the company meet its production targets.
Should help the share price recover to a more sensible level given the huge resource.

RBD also announced a death spiral funding facility so I'd think twice before jumping from UJO to RBD. The facility is likely to hold back the share price.

Worth doing some research on Chalice Gold Mines which has 10 bagged following positive exploration results on a PGM project in Western Australia, not far from Empire's Munni Munni. The market cap has shot up to A$326 which shows the potential for EEE to do well from here https://themarketherald.com.au/chalice-gold-mines-asxchn-up-90pc-after-intersecting-high-grade-sulphides-at-julimar-2020-03-23/

Yesterday, I posted about the gold oxide cap which lies at surface at KBE and could be brought into production quickly at the nearby plant. It's also worth doing some research on the copper/gold sulphide ore body which lies immediately below the gold oxide. This is a far larger resource and the company has made very good progress in proving it up towards the 50 million tonne target (that's very large!).
This is an extract from an RNS that shows the potential there:
"Drill hole TGD-044 includes continuous copper mineralisation from the base of the oxide zone to the end of the hole at 120m and is open at depth. Assays have returned 16m @ 15.4% Cu from 47m, including 4.95m @ 40.50% Cu, 0.46g/t Au and 55.6g/t Ag. Additionally the hole has identified continuous gold mineralisation in the oxide zone from surface to the base of oxides at 47m including 24m @ 1.58g/t Au from 1m."

Note the 40.5% copper grade which is exceptionally high!

It's worth doing some research on the most advanced project which has a sizeable copper/gold resource. Interestingly there is a gold oxide cap at surface, above the larger copper/gold sulphide ore, which could be brought into production quickly at the JV partner's plant located about 10km away.
From an RNS: "The gold oxide deposit in GZ2, containing an optimised in-pit mineral resource of 1.14Mt @ 1.10g/t Au. This initial GZ2 resource covered an area extending from surface to the base of the oxides at approximately 40 metres depth with a footprint of approximately 150 x 150 metres. As the resource occurs from surface, no significant stripping will be required on commencing production, which has positive cost implications."
My calculations are as follows, assuming $700 costs per OZ and 90% recovery:
Total gold produced at 90% recovery is 1,128.6KG
Total revenue at current gold price of $55740 per KG = $63 million
Total Profit = $37million
Total profit to EEE (50%) share = $18.5million
This shows the potential! It is only a small part of the project but as it is at surface it can be brought into production without much further work.

Yes, very promising.
I was surprised that the share price fell back after the announcement of the acquisition of the new project as it looks like a great deal for EEE. It's a large project with excellent grades. It compares favourably with EUA's Monchetundra project as most of the resource is measured whilst Monchetundra is inferred. It also has higher grades and Australia is arguably a better jurisdiction than Russia.

It is interesting to note that the majority of the historic spending on the Munni project was made by Lonmin, a major PGM mining company. Although the resource is high grade at 2.9 g/t Lonmin didn't bring it into production as it had a high palladium component and the commodity price was very low at the time (around $300 I think).
The economics of the project at the current palladium price of over $2000 are completely transformed.

Very positive drilling results today.
We got:
The highest vanadium grade so far at 0.75%
The highest titanium grade so far at 14.71%
One of the holes was drilled to a depth of 50M and virtually all of it intersected mineralisation (45.83M). Presumably the ore body remains open at depth

Looks like it could be the start of the recovery. There's probably not much stock about as MMs were ticking up the price on virtually every buy this afternoon. Palladium is up 10.32% at $2049 today which is very positive for the new project in Australia. Gold is approaching all-time highs so mining the gold oxide cap at surface on the KBE would be very profitable. We should get an update on both Georgia and Australia soon.

If PF was expecting a large contract to be signed shortly, like for Covid related kit, he wouldn't have been able to buy shares as he would be considered inside. I would have preferred him not to buy shares unless it was a large amount which would have really shown confidence in the business.

As the directors bought shares it means there's no inside information so we could be waiting a while for positive news. I think that's one of the reasons why some people sold today. Also PFs buy was a token gesture with such a small amount.

WSG wouldn't get any cash if the CLNs are converted. It would just reduce the balance of the debt that is owed to the holders

I suspect we should also see some conversions of the the CLNs as it is now more profitable for the holders to convert at 10p rather than accrue interest payments. The loan note balance is around £1.7m so that's about 17 million shares to be sold if fully converted.

What is Louis Coetzee's track record like in securing funding?
Is it normally on good terms for existing shareholders or does it usually benefit the people advancing the finance?