Member Info for restingpilgrim

Manlord do not forget the Q and A on Wednesday morning which hopefully somebody will ask the right questions

Yes I watched it , Nothing new really except final question where Shaun said he hoped to have the mine in operation in around 3 years time if all pans out well,

5pm GMT

When it does we will be able to call Cevodniya the forum "Empire Millionaire" and we all all be praying he becomes a multi millionaire

@Cevodniya he was saying that you have to fill in a TR1 once you hit 3% which I believe is correct and that is even if you are not from the UK. Read todays RNS it says the holder is non UK issuer and is actually a registered company in Hong Kong

I think maybe you are right @maybeoneday , It looks like they had 23 million shares and now have 26 million, perhaps the previous notification of 5% per cent was from before the share sales to raise funds . They have the correct number of shares in issue as that agrees with the Empire web site when calculating the 4 per cent but there is no number shown against the 5 per cent. If there is a seller from a larger holding I would expect a notification would be required similar to this one. I just looked at the percentages and thought this was the seller when in fact they look like a buyer as you say

At least now the RNS is out we know who the seller is although to the RNS he holds 100 % of the issued shares.

I also see that the short position has disappeared

I think my biggest takeaway from this RNS is despite the huge numbers we are looking and the drills only go down to 150m where they are still showing titanium present and the anomaly is showing to 5km deep. Even allowing for the fact that the deepest mines are just over a 1km deep they say that "this exploration Target potentially only covers the top 3% of the vertical extent of mineralization"

The current drilling will hopefully show the weathered cap is even larger than the 4.0 to 4.9 billion tonnes currently estimated as well.

They are also looking to sell an existing asset over the next six months MasterRSI which will hopefully generate a decent amount of funds for investment in Pitfield

Good Luck Cevodniya hopefully one day you will be deciding how to reinvest your multi millions from your Empire holdings

I believe the company is progressing this asset very well. I accept that the market is not reacting with a higher share price like we would like but I have used this as an opportunity to top up my holding. I am very confident that we will do well in the longer run and do not understand why people are hoping for a major to step in and dilute our benefits. I think from listening to some of the interviews with Sean that he is hoping to get this to a position where the company can get most of the benefit from the asset and hopefully get government funding rather than handing the potential over to someone else just for funding. As far as I understand the progress is being done at a sensible pace and also as quick as it can. They are also recruiting in the right areas and I am sure that it will not be too far into next year after more results are obtained from the drilling that we will get a processing plan. They are doing the right thing in dotting the i's and crossing the t's rather than rushing in so that they can start production in an area of higher grades of ore and thus getting most benefit from the off. There may be interest from outsiders and maybe they have been told they are not needed yet we do not know as I am sure we will not hear of all approaches just ones that need to be revealed.

Thank you Ageos for your explanations

Thank you Ageos for the post

Thank you for taking the time and effort to do that Manlord it is much appreciated.

Cottill you should be able to get in at 8p now

Thank you AGEOS for once again giving your explanations

At the end of the day we know there is huge tonnage and a nice percentage of Titanium but the thing which will dictate the value to the company is how much of it can be extracted from the ore and the price of doing that. Until that is well established we will not get the re evaluation we want to see from the market.

Lovehandles try looking up unique in the dictionary

It is not just the size of the deposit and the amount of high quality product that it will provide but also the fact that the production costs will mean better profit margins. Also if another plant was built on site to manufacture pigment quality product then with the quantity of available product there will be massive profits over many years some of which I am sure will be used to see what else is under Pitfield