Member Info for Scott22

Top fund. Up 166% YTD. Focuses on large top quality producers. They have been buying Greatland all year (since THE DEAL). They just listed December 5, 2025 top ten holdings and for the first time Greatland entered that club at #7 with 2.76% position. Consider the top ten holdings and that this fund believes Greatland Resources should be in that group, and they bought enough shares to put them there in their fund.

Agnico, Alamos, Newmont, Barrick, AngloGold Ashanti, Perseus, GREATLAND, Equinox, Torex, Endeavor/

Greatland has by far the smallest market cap in that group. Very undervalued.

Bid on US OTC is $5.20 right now (398 pence) and ask is $5.45 (417 pence). Close in Australia was $7.93 (394 pence or USD $5.13).

There is some arbitrage in buying at 375 pence in London.

Doesn't always immediately transfer to AIM. On the other hand it is hard to buy below the Aussie close in US OTC, even if AIM is lower at the time.

IfIknewthenwhat: Welcome. Understanding the subtleties of AIM is not easy. Companies can access capital here. That is good. But always be aware that the only people trying to make money here. are not the ones who hope they are picking strong companies to back. There are those who want to make profits NOT from the companies, but from investors (like me at times) who have bought too high. Their plan is to take the money we have invested as those shares slide. There are a lot of complex strategies to do that, hence the subtleties.

Titanium is not a rare earth metal; it is a common transition metal and the ninth most abundant element in the Earth's crust.

Yes but.... 95% of the feed stock for titanium pigment and metals is hard rock ilminite, fairly low Ti concentration, an iron compound, often with some impurities - and more importantly difficult and costly and very energy intensive and NOT GREEN in terms of requiring smelting. The Empire promise is vast quantities of high grade TiO2 (6%), no Fe and no impurities, much cheaper to process, no smelting, much lower cost to make product, and thus profitable at lower price point. Ti may be common element but it would have many more uses if it was more economic (strong as steel with other good properties and no corrosion).

1. FeTiO3.( Ilminite). Hard rock source of 95% of world's titanium. Processing to synthetic rutile for pigments and to titanium sponge as feedstock for titanium metal is complex, costly, and energy intensive.

2. TiO2. ( Rutile and anastase). In pure form, can be synthetic from ilninite or natural in sands and clays) . Both can serve as feedstock for pigment industry. Empire has huge supply, at highest grade (6%) in world for primary TiO2 source, with very few impurities. Empire can use conventional flowsheet to reach 99.25 TiO2 with low impurities, and can produce for less and sell for less than others, potentially disrupting market. Potential for excellent margins even at lower price point than competitors.

3. TiCL4 (Titanium tetrachloride). Can serve as feedstock for titanium sponge, a precursor of titanium metal. Usually requires expensive and energy intensive processing including smelting. Making this stuff from Empire ore with conventional processing is the Holy Grail that Shaun Bunn refers to in the Proactive video today. Cost advantage over competitors would be even greater than for high purity TiO2. Selling price is at least double. Profit margins would be much higher.

Maybe Empire gets started with a robust pigment operation at Thomas. Then they can develop Cosgrove to make TiCl4 with a separate processing plant. If they find a way to produce it efficiently, then profit margins would be more than excellent, as in ridiculous.

Well the tighter grid of holes at Thomas had assays done every 2 meters of every hole. 140 forty-five meter holes and 40 ninety-five meter holes. And they all showed the same 5-7% TiO2. That is 5000 holes in that campaign. I think that is physical evidence. If you insist on pictures, the June 9, 2025 press release shows beautiful photos of the 99.25% pure TiO2 that was produced from samples of the mineralized weathered cap, using pretty standard processing technology. .

Chat PT: No concurrent economic study. The MRE confirmed size but not value. Without a scoping or metallurgical economic case (no NPV, capex, or cost curve positioning), institutional investors took profits quickly.

Ask Chat GPT if it knows the difference between an MRE, a PEA, a Preliminary Feasibilty Study, A Feasibility Study, and a Final Investment Decision. NPV, capex requirements (requires detailed engineering), or cost curve analysis are NEVER included in an MRE. And anyway cost of production of 99.25% TiO2 will be massively less than similar product from ilminite (95% of current feed). There are good points to consider in this AI analysis but it is kind of unhelpful to say the stock went up in the morning because it was a great MRE, and then dropped because it was only an MRE and not a more advanced stage of the development process, which is moving very fast with a timeline that has been outlined by the company. I think part of the problem is related to lack of clarity about where the capital will come from to move quickly forward, as that could dilute shareholders to a greater or lesser degree, depending on how it is structured. Language like " a meteor that will destroy the dinosaurs of the titanium industry" also not that helpful. Still they just have to keep pedaling. The story has sounded kind of outrageous (too good to be true) right from the beginning. But every step forward seems to confirm that it is true. If so the company is worth multiples of current market cap, as long there are no glitches as the project advances.

Have Telfer says - In the bigger picture the Kangeroo clan can only buy shares which are available after being released from AIM. Folks in blighty are still happy to sell at 20, 21 and 22p.

That is not exactly true. GGP sold 9.8 new shares at $5.08 in conjunction with the ASX listing. At the time of the ASX listing Newmont also agreed to sell their 66.7 million shares at fixed $5.08 with proceeds to Newmont. One of the beauties of the ASX listing was that these 76.5 million shares were immediately available to Australian invests and provided liquidity. It was never true that Aussie investors could only buy shares that were released from AIM.

Maybe not the Hong Kong slot. Maybe before or maybe after. But hopefully in October.

Shaun has delivered every milestone on time. The last big drill program was a good example. Now the promise is converting that data (and more of course) into an MRE. In October. We are halfway through October so only 2 1/2 weeks to meet that self -imposed deadline. It is especially important (in terms of credibility) to meet self imposed deadlines. There is a lot of discussion that goes on between the independent engineering firm and the company. Likely that shaped the most recent drilling, the spacing and the number of assays per hole. (all drill holes sub-sampled at 2 meter intervals with more than 5000 assays done). They are likely having ongoing consultation about some details but the company clearly knows the general outline of what is to come. Pretty exciting watch for investors.

Nope. As I also said - There is always a reason to be curious of the timing of promotion events by a company. Maybe they are selling the story (a remarkable one in this case). Maybe they have new information that advances the story".

Nothing too controversial there. What does this even mean - "...have you not just disagreed then explained what you first disagreed with? "

I was just responding to - " saying could there be a reason for this, I mean I don't know? What possibly could it be? Can't think of anything top of my head like. Anything we could be expecting?"

Anyway my plan for a brief respite with higher level of discourse - less argumentative and more focused - is not going to work.

The reason for trying to have a non-trash thread should be pretty clear to you. You mention a bunch of countries. Middle East is important. Saudi Arabia is looking to be an alternate metal processing hub as well as advancing their own mineral production. You are aware that Fahad Al Tamini owns 25 million shares of Empire, and what his background is. The Hong Kong trip is not about specifically about arranging funding, window shop or otherwise. It is about increasing pool of important investors there who may buy shares on the market, and surely might also be interested in participating in financing down the road. There is always a reason to be curious of the timing of promotion events by a company. Maybe they are selling the story (a remarkable one in this case). Maybe they have new information that advances the story. Anyway I am interested in information, analysis or thoughts related to Empire Metals. This general board has gone off the rails. Maybe this thread can stay on the rails for a day or two. Maybe not.

Shaun Bunn is presenting in Hong Kong next Wednesday. Could there be a reason for timing of this presentation? Maybe an RNS on Monday ( release of MRE a little too much to expect but we can hope), then a few interviews, then a solid presentation to HK investors, who like investors in Singapore have been receptive to the story. Anyway I can see a few possibilities to put pressure on the shorts.

Navigator: TXP may be in dire need of a new CEO but the options are very limited. PB probably has to be the one to pull this off , if a recovery is going to happen. Frankly PB cannot even resign. Because I am not sure that there is anyone on the board who could recruit a suitable candidate for a new CEO.Especially in the state we are in. What strong energetic and highly successful CEO would want to jump into something this risky.

Good comments about Shaun Day. He did understand the importance of right of first refusal at Havieron and did leverage that. But he also took advantage of low gold price and temporary tailing problem at Telfer that led to lower production from mill (and building of stockpile) while that was addressed. He also took advantage of institutional pressure on Newmont to sell mid-tier assets after they bought Newcrest and the Newmont share price dropped. He also leveraged his previous experience at Northstar buying neglected assets with short life of mine off majors and converting them to long lived profitable operations. And most importantly he forged a strong connection with Wyloo (Andrew Forrest investment arm) that gave him financial clout to guarantee that he could finance the totally crazy deal - a microcap holding only a 30% piece of their original major Havieron discovery) waking up on December 4 owning 100% of the discovery, also owning Telfer mine and mill, with no debt and cash in bank and then executing a seamless operational transition turning on the second train at Telfer mine within six hours. And delivering in first 6 months plus (includes those 27 days of December) 500 million of revenue and 310 million of operating cash flow and expanding cash to 575 million while greatly extending Telfer mine life.

Selling poor performers is a generally good idea, but taking a 5% loss on a short term microcap holding where the story (the careful analysis that led you to buy) has not changed - is simply not a good plan. Rick Rule was talking about his 10 baggers (and higher) during a lifetime of investing in microcap resource space. Nearly everyone of these had a 50% drop at some point that he owned them. With respect to EEE, I cannot see selling before the MRE. It has been signaled that will be very good. The story has not changed. The only problem with the story is that it seems to good to be true. That has been the case since the beginning but the story so far has progressed without a glitch and seems to be very true. EEE has huge (biggest in world) high grade deposit of very pure titanium dioxide right at surface that can be mined easily with a scoop (no crushing even) and processed efficiently without high cost high energy smelting that is required for ilminite. That should provide huge source of titanium product at lower (disruptive) price point. MRE next step.

It would be nice if this award (if they are the winner) was announced the day after the release of the MRE.

https://x.com/empiremetalsltd/status/1972980107754233916?s=46&t=aIh2DUfO7KrrWh9Bbnlc-g

Message board has turned worthless, like so many before it. Seems to eventually happen almost all the time. But thanks to everyone who has provided useful information and comments before it all went south. Company is doing well, the story is fantastic and is intact. Great potential. There is always execution risk with a preproduction junior, but so far NO mis-steps. Best to all.

Questions on a message board about business plans or anything else do not drop share price by more than half precipitously. If you are looking for conspiracy theories I would think market makers might have more real power to bounces share price around (might I say manipulate it), especially on AIM. There were a lot of stop loss orders designed to preserve gains. That did not work and many holders of low prices shares lost their shares way below their target selling point. The rapid drop caused panic and others sold voluntarily to try to save some gains. When it became clear there was NO negative development, the shares rebounded. In the end it is gavorable for long term holders as there are fewer holders of low priced shares and more iwners of mid priced shares. All hoping for further gains and more likelyly to hold tightly and less likely to have aggressive stock loss sell orders.