ERL - Empire Resources
- Thread starter mobcat
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In their latest announcement, the company said that they will be coming out in the next few months with a new resource figure for Penny's Find. It will be interesting to see how much its increased considering the latest results which were excellent.
DYOR
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Hi Allankew
Got my application and prospectus today sent it off allready cant miss out on this one.............. the oppies are a great bonus for all us holders the sp over the next month or so till the next pennys find ann could test a few holders but the loyal will be reward imo ......recent drill results from ERL,s pennys find are hard within a small m/cap company i will be sitting tight have since IPO and accumulated along the way
Happy Days
Mobcat
Got my application and prospectus today sent it off allready cant miss out on this one.............. the oppies are a great bonus for all us holders the sp over the next month or so till the next pennys find ann could test a few holders but the loyal will be reward imo ......recent drill results from ERL,s pennys find are hard within a small m/cap company i will be sitting tight have since IPO and accumulated along the way
Happy Days
Mobcat
Miiine
Re your post the other day my understanding is that they have 55.4 mill ord shares, 29 mill options and 3 mill to Martin Place Securities held in escrow.
So based on the ord's only the current market cap would be about $18 mill, if you include the options and escrow shares then this comes up to $28 mill.
If all options are exercised down the track then ERL will get about $7 mill. I'm not sure how the Martin Place escrow's work.
Hope this helps.
Flipper
PS: For what it is worth I think this company has great prospects and moves fast, which is what we all like.
Re your post the other day my understanding is that they have 55.4 mill ord shares, 29 mill options and 3 mill to Martin Place Securities held in escrow.
So based on the ord's only the current market cap would be about $18 mill, if you include the options and escrow shares then this comes up to $28 mill.
If all options are exercised down the track then ERL will get about $7 mill. I'm not sure how the Martin Place escrow's work.
Hope this helps.
Flipper
PS: For what it is worth I think this company has great prospects and moves fast, which is what we all like.
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Dont think we will hear much from ERL till the end of june in a retrace atm with a lot rungs in the ladder all the way up i sold yesterday with oppies coming on line next month retrace could gather momentum till another positive ann on pennys find ............always good to take profits will be back in next month dropped the profits into BYR looking good atm pending ann
Happy Days
Mobcat
Happy Days
Mobcat
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announcement just now
Empire Resources Ltd (ASX: ERL) is commencing a new drilling program at its Penny’s Find gold
project, 50 kilometers north-east of Kalgoorlie Western Australia, following the encouraging results of
its April 2007 drill program
“We’ve recorded a number of high-grade gold results from a new shoot of shallow gold
mineralization,” said ERL’s Managing Director David Sargeant. “These included intersections of
19 metres @9.36 g/t gold and 17 metres @ 6.88 g/t gold.”
“This current program is designed to test the mineralization along strike and at depth. We’ll also be
testing another zone of quartz veining from old workings on the mining lease, along strike from our
recent success”.
and with that announcement the prices dropped a little
Empire Resources Ltd (ASX: ERL) is commencing a new drilling program at its Penny’s Find gold
project, 50 kilometers north-east of Kalgoorlie Western Australia, following the encouraging results of
its April 2007 drill program
“We’ve recorded a number of high-grade gold results from a new shoot of shallow gold
mineralization,” said ERL’s Managing Director David Sargeant. “These included intersections of
19 metres @9.36 g/t gold and 17 metres @ 6.88 g/t gold.”
“This current program is designed to test the mineralization along strike and at depth. We’ll also be
testing another zone of quartz veining from old workings on the mining lease, along strike from our
recent success”.
and with that announcement the prices dropped a little
My family only has the options left. I'm waiting to see how big the looming upgrade in resources is at the Penny's Find Gold Project before taking any further action. The options were definitely a bargain at 1 cent each.
DYOR
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My erlo have just popped into my nab money well spent hey i wonder what the first trade will be ?????????????
i wonder what the first trade will be ?????????????it has been pretty quiet on this one, the Quaterly activities report should be due sometime this month, and there will be updates on the projects in the report. Hopefully that will be enough to turn ERL's head around n move north! the buy orders r slowly building up, not many want to sell be4 the ann, so fingers n toes crossed
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ERL,s Time has come again topped up a bit lately i love this little Junior full of pedigree from the dirt to the management blue sky ahead boys it,s starting to dawn good luck to all holders
topped up a bit lately i love this little Junior full of pedigree from the dirt to the management blue sky ahead boys it,s starting to dawn good luck to all holders
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Have gone in hard the last few days on ERL and it looks like the SP is responding The time in sun is all but upon us i would say the ann we are awaiting will come next week and the further drill results will be available to the market Pennys Find is great dirt for ERL no doubt about that and i fell once the broder market is made aware of ERL,s assets the SP will respond to the highs of April and blue sky forward good future here nice to be holding have since listing and have accumulated whenever possible looking like a great earner pending the pennys find Ann
Have gone in hard the last few days on ERL and it looks like the SP is responding The time in sun is all but upon us i would say the ann we are awaiting will come next week and the further drill results will be available to the market Pennys Find is great dirt for ERL no doubt about that and i fell once the broder market is made aware of ERL,s assets the SP will respond to the highs of April and blue sky forward good future here nice to be holding have since listing and have accumulated whenever possible looking like a great earner pending the pennys find Ann
Hi mobcat, i've been watching this one as well, its one of my bigger holdings, definately a junior explorer with lots of potential. diversified projects: nickel, U3O8, Gold and Cu. and potential near term income generated from Pennys Find. the management set their targets rite by trying to put 1 project into production to generate a bit of cash flow. the drill result from Pennys Find should be in the quaterly report, which is expected to be out this mth. so not long now!
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As i have just said on another thread,the current gold price wont do any harm to gold explorers.Dont know whether it is the recent climb in the Dow but this seems to be on the move again-nice and steady but with results due soon this could move fast like last time it announced results at Pennys Find-I hold
Hi alankew,
With increasing interest in gold, ERL is well placed with its Penny's Find Gold Project. Exploration results have been excellent thus far. Management are trying as quickly as possible to move this project towards the production stage within the short term. Hence, the company is likely to soon come out with an increased resource figure. I had originally bought in for the Torrens Project in SA, but the Penny's Find Project might give the share price a good bounce when its next ann. comes out provided that its positive of course.
Watching with interest.
DYOR
At last check, ERL is done 6.5c today. Some traders might not have liked the fact that no JORC was announced for the Penny's Find Gold Project. Maybe some were hoping for a larger in-situ resource figure. Also, there seems to be further delays with the drilling of its Lake Torrens Project as they're still searching for a suitable drilling rig. All in all, its exploration results were very good at Penny's Find.
DYOR
