ERL - Empire Resources

[mobcat]

Mining properties
Empire's current portfolio of projects is the result of several years of acquisition and exploration by the Company's founders. Their activities have included drilling programs on three of the six Company projects.

Uranium and copper-gold projects
Empire's portfolio of uranium and copper-gold projects includes the following.

The Torrens Project, an Olympic Dam style copper-gold-uranium project that lies within the Torrens Hinge Zone on the margin of the Gawler Craton in South Australia.
The Noondie Project, east of Yuinmery in Western Australia, which contains calcrete-hosted palaeochannel uranium targets.

The Penny's Find Project, which is close to Kalgoorlie, Western Australia and includes a gold resource that is open along strike and down dip, as well as previously unexplored nickel targets.

The Yuinmery Project in Western Australia, which comprises volcanic-hosted copper-gold mineralisation and contains recently revealed new targets.

The Troy Creek Project, which includes extensive gold, copper and PGM sediment-hosted targets northeast of Wiluna in Western Australia.

The Paradis Project, in the Ashburton Structural Corridor near Paraburdoo, Western Australia, which contains anomalous gold and platinum.

These six projects, which are either at an advanced stage of exploration or have previously untested exploration potential, comprise Torrens, Noondie, Penny's Find, Yuinmery, Troy Creek, and Paradis. The Board is of the view that all are prospective for world-class mineral deposits and have the potential to host deposits of economic significance for a junior exploration company.

Empire's Torrens Project (copper, gold and uranium), which lies within the Gawler Craton in South Australia, has defined drill targets that will be drilled as soon as possible after the Company lists on the ASX.

The Penny's Find Project, located within the Archaean Yilgarn Craton, has defined a gold resource (prepared in accordance with the Joint Ore Reserves Committee – Australasian Code for Reporting of Mineral Resources and Ore Reserves ('JORC Code'), while the Yuinmery Project is prospective for copper, gold and nickel.

The Troy Creek and Paradis Projects are situated in the Ashburton Structural Corridor. Troy Creek, which lies in a Proterozoic terrane, is highly prospective for gold, PGM and base metals, while Paradis lies within Archaean rocks on the southern margin of the Pilbara Craton and is prospective for PGM, gold and nickel.

Cheers
MOBCAT

 

[alankew]

Market was unimpressed with this IPO.Listed at a 25% premium but this quickly eveaporated.Prior to listing company said that it would start drilling at its Pennys Find Gold and nickel prospect asap.Announcement out today,management true to its word and results expected toeard end of month>Might be worth keeping an eye out for any volume increases.Also scheduled to commence drilling at another prospect,Troy Creek which is a copper,gold and platinum prospect

 

[petervan]

This share seems to getting a good run up after an interesting anti-ramp article in the weekend australian.

 

[alankew]

Drilling results out today on their 100% owned Pennys Find prospect.All 6 of their prospective sites are drill ready.Pennys Find is the first drill site as staed in prospectus as this is hoped to provide initial revenue for other exploration.Meant to post yeaterday as it looked like volume was picking up however the company only floated a few days ago and as the price didnt meet punters expectations pesumed it could be people happy to get out at a slight profit.Company did however say that results would be out toward end of the month and have kept their promise.YT would it be possible to have a look at the results and let the board know what you think.Certainly seems to have moved a bit over the few days prior to release of todays results-16c low to 23.5c which ithink is pretty impressive considering the amount of dissapointed punters from the initial IPO

 

[petervan]

Just phoned the company director and they should have three of their tennaments with drill rigs on them in the next weeks. Looking at getting an oil drilling rig for their S.A tennament as will be drilling to depth. Certainly hit the ground running. Their Troy tennament has 2% copper strike zone from old drilling results. DYOR

 

[Jus]

Just phoned the company director and they should have three of their tennaments with drill rigs on them in the next weeks. Looking at getting an oil drilling rig for their S.A tennament as will be drlling to depth. Certainly hit the ground running. Their Troy tennament has 2% copper strike zone from old drilling results. DYOR

Ground breaking soon, thats good news. Looking forward to what they've got in the soil.

 

[alankew]

Drilling results out for pennys find project heres the announcement: http://imagesignal.comsec.com.au/asxdata/20070227/pdf/00697412.pdf

 

[alankew]

Sorry wrong ann,here is the link refers to the option to purchase land in WA to explore for U.Land will be 100% owned by ERL

 

[petervan]

Yes I looked at the announcement and made the same mistake. Putting all their fingers in the pie. Very aggresive strategy by management. Interesting one to watch over the next months with so much drilling going on.

 

[mobcat]

IMO ERL are doing all the right things informing the market as the can do company they are. (getting very rare now days).

I like the no nonsense management style getting on with the job rather than drag it out and slowly chew up much needed capital. Put ERL on your radar I feel its a goer and could happen sooner rather than later imo.

 

[alankew]

Mobcat couldnt agree with you more.As i have already posted management staed in prospectus what they intended to do an they have true to their word so far.Remeber they also have all projects drill ready so definitley one to put on the watchlist and also look out for volume increases.Hope they can find something now!

 

[Jus]

Very apparent interest is building as more and more investors get to know ERL but still not enough to push sp higher. I'm holding for long term. Go ERL!!

 

[Jus]

ERL - EMPIRE RESOURCES LIMITED

Good news! David Sargent bought 211105. Ann. should be around the corner, 1st quarter report coming soon.

 

[petervan]

Jus should make interesting reading with the new ground there farming into to.Be interesting to see when all the drilling starts on the new uranium tennament.Hopefully get a few more drilling results.

 

[greggy]

Re: ERL - EMPIRE RESOURCES LIMITED

Good news! David Sargent bought 211105. Ann. should be around the corner, 1st quarter report coming soon.

Directors increasing their holdings is often a good sign of better things to come. Also, having perused its prospectus, ERL has stated that it will be having a loyalty option issue soon after listing. The share price is up 7.5% today to 21.5c. This one has interesting prospects as stated in previous contributions to this thread.
DYOR

 

[Jus]

Re: ERL - EMPIRE RESOURCES LIMITED

Directors increasing their holdings is often a good sign of better things to come. Also, having perused its prospectus, ERL has stated that it will be having a loyalty option issue soon after listing. The share price is up 7.5% today to 21.5c. This one has interesting prospects as stated in previous contributions to this thread.
DYOR

Currently +.02 (10%). Any chance directors buying again?? I hope..

 

[petervan]

If they can get the Pennys Find near Karlgolia up and running from the gold output this share price is away.Optimistic on this one

 

[greggy]

If they can get the Pennys Find near Karlgolia up and running from the gold output this share price is away.Optimistic on this one

Initial results from a recent 8 hole reconnaissance reverse circulation drilling program at the Penny's Find project, close to Kalgoorlie,WA, returned some high grade results including 24m at an ave grade of 8.64 g/t (Gold)There is already a small gold resource already at this project (68,000 tonnes @ 4.0g/t gold). ERL is hoping to significantly expand its gold resource and to proceed to the feasibility stage within 6 months.
According to a media release dated 22 Feb 07, ERL is scheduled to commence drilling at Troy Creek, its copper- platinum-gold prospect north-east of Wiluna, WA. The drill rig will follow up on 2% copper driled more than 10 years ago.
ERL has also commenced geophysical surveys at its Torrens, an Olympic Dam style copper-gold-uranium project that lies within the Torrens Hinge Zone on the margin of the Gawler Craton in SA) and Yuinmery Projects (copper and gold project in WA), designed to define further drill targets. ERL will begin drilling on the existing targets from Mar onwards, as well as any new targets identified.
ERL also has plenty of uranium exposure besides the Torrens Project with the Noondie Project, east of Yuinmery in WA, which contains calcrete-hosted palaeochannel uranium targets. ERL also has been granted an option to acquire 100% of the Yarlarweelor uranium prospect 125 kms north of Meekatharra in WA. Previous work has been done by Agip and Uranex Pty Ltd between '78 and '92. Previous intercepts include 2 metres assaying 630ppmm U308 in one hole and 24 metres assaying 310ppm including 9 metres assaying 570ppm in another one. There were apparently many interesections of anomalous radioactivity according to exploration reports held by the Dept of Industry and Resources.
Hence, having raised $5.5 million leass expenses from its recent listing (it listed on the ASX in early Feb 07), this company has enough funds to actively explore its tenements.
After doing significant research I bought some ERL shares today. They have a number of interesting projects and I am also aware that there will soon be a loyalty share issue on a 1 for 2 basis.
DYOR

 

[Mousie]

They have a number of interesting projects and I am also aware that there will soon be a loyalty share issue on a 1 for 2 basis.
DYOR

loyalty option issue you mean? 1 option for every 2 shares held exercisable @25c re p.5 of prospectus

 

[Jus]

Originally Posted by greggy
They have a number of interesting projects and I am also aware that there will soon be a loyalty share issue on a 1 for 2 basis.


Greggy, I'm aware of the loyalty share issue plan too (great bonus )but not sure when is the record date. Do you have any idea?