the estimated resource is around 200k tones, which is below the expectation of 300k estimated from the research report, i guess thats why there's teh drop in SP. I got out, and now is looking for a re entry point in the near future.
ERL - Empire Resources
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the estimated resource is around 200k tones, which is below the expectation of 300k estimated from the research report, i guess thats why there's teh drop in SP. I got out, and now is looking for a re entry point in the near future.
Hi Upka,
I'm watching this one from the sidelines as well. It has considerable potential, but for me now, I'm waiting for the right entry price. I tend to watch a number of stocks with potential, but it often comes down to price for me.
DYOR
I think the research report said 30,000 ounces not 300k tonnes. So research report wasn't too far off (today's resource estimate didn't include most recent results either). The market weren't too impressed though, and getting out now and waiting was probably a good idea. Probably a bit of a wait until more good news.
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Oh well the #,rs wernt at all what we wanted they wernt over and above sadly they where under and below and the sp responded i sadly dropped my load today and maybe caused a bit of the rot but over all on this leg of the play i broke even or maybe lost a couple of k in the wash but all in all since listing has been a very nice earner and will continue to be in the long term .............iam out for now but will allways watch every ann very closley for a hint of the big one that i do belive they hold the management are tops in my book real genuine people to talk to just need to prove the dirt a bit more good things ahead happy to sit on the side for now goodluck all 
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Oh well just go,s to show heya sign of the times a huge res upgrade and a very poor SP response back in may she flew to 53 on less oh well it,s still in the ground the market cant take that away we own it
Not that much of a wait! Up to 52,000oz from 28,000oz and possibility of high grade shoots. More drill hole results due out this month. These guys are efficient! Market still not impressed though. This project is just a little earner for Torrens exploration
Anyone have any idea of how deep before open pit is not economical, and underground has to start? Also how close are these guys to existing infrastructure?
Penny's find project is rite next to a highway i believe, so transportation shouldnt be a problem, being in the Kargoolie region, infrastructure should be near by. but no idea how deep be4 open pit isnt economical, i guess thats why we need to read the PFS.
well. it is 0.19 now. The fundamental did not change very much, but the price fall from 50c to 19c. I am not a pure fundamental investor. I am afraid to catch the falling dragger. but anyone want to take a decent position in erl. It is just the time.
Alot of ppl r ignoring the fact that they r releasing the 114 drill hole (Due north of Penny's Find) results this month! their initial drill was only 40 hole, so the result could be significant. I reckon this has the potential to double their current inferred resources.
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Up between 10 and 20% today(depending on when you hit the refresh button!) on miniscule volume but last announcement dated 8th August says
"A RAB drilling programme totalling 5,666 metres in 118 drill holes has recently been completed,
testing targets to the north of the Penny’s Find mineralization. Assay results from this work are
expected this month."
"A RAB drilling programme totalling 5,666 metres in 118 drill holes has recently been completed,
testing targets to the north of the Penny’s Find mineralization. Assay results from this work are
expected this month."
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Options up 33% at the moment,none traded for a while,anyone on here buying or perhaps there could be some news on the way
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Anything happening with this.Marginally positive today but currently there is a single buyer sitting at the top of the pile with a bid for 100K shares.Not much in monetary terms but a bit unusual perhaps,not sure how to interpret it as it doesnt mean much now that market is closed-is this correct
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That bid for 109K is still sitting at the top of the pile atm but volume today is 500K-anyone know how to check if it is a single trade,could be something up
a 500k order just went thru, huge for this stock... looks like someone's buying in big, didn't even bother to accumulate...
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UPKA thanks for the response,found it myself on Stockness.As you say pretty big order in one go,you would think it would be a professional doing it in such a way,maybe someone connected with doing drilling,assays etc.Their last ann dated 19th Nov talked about similarity to major Golden Grove type ore system and drilling was to commence asap after receipt of assays.Anyway for a stock that trades 100k on a good day and in the current nervous climate
and in the current nervous climate
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Mine box Article
Still bottom draw for me will buy more at value level i still like the story
A new report has expanded the drill target footprint for Empire Resources Ltd�s promising high grade Yuinmery copper-gold project in Western Australia.
The impact of the report is such that Empire has immediately adjusted its current reverse circulation (RC) drilling campaign on site to finesse final selection of drillhole locations.
The report, by independent consultants commissioned by Empire, combines the findings of a recently completed downhole electromagnetic (EM) survey and initial results from a separate ground EM survey at Yuinmery, located just six kilometres east of the Youanmi gold mine and 475km northeast of Perth.
* The results of the surveys have increased our confidence that we are looking at major zones of mineralization at Yuinmery, and over a wider area than initially reported,� Empire Resources� Managing Director, David Sargeant, said yesterday.
* None of these zones have been tested very deeply,� Mr Sargeant said. �We are particularly encouraged by our ongoing work at the Just Desserts prospect within the Yuinmery project area where high grade gold mineralization accompanies the copper sulphides and appears to be associated with a large electrical conductor.
* Empire has taken the decision to include these findings in our going forward program, including adjusting our current RC drilling which was already underway on site to test high grade copper-gold mineralization intersected in the previous December quarter.
* The drilling is designed to test newly identified geophysical conductors, enhance geological interpretations and enable an estimation of the size potential of this prospect prior to deeper diamond drilling in the future.�
The two surveys identified a number of electrical conductors contiguous with the project�s previously reported copper-gold mineralization. Mr Sargeant said the conductors were likely to be due to the presence of additional sulphide mineralization.
Five prospects are being tested in the current 2,000m RC drilling schedule which will also now test the strong off-hole conductors as well as extensions to the previously announced mineralisation.
- 19 Feb 2008
Still bottom draw for me will buy more at value level i still like the story
A new report has expanded the drill target footprint for Empire Resources Ltd�s promising high grade Yuinmery copper-gold project in Western Australia.
The impact of the report is such that Empire has immediately adjusted its current reverse circulation (RC) drilling campaign on site to finesse final selection of drillhole locations.
The report, by independent consultants commissioned by Empire, combines the findings of a recently completed downhole electromagnetic (EM) survey and initial results from a separate ground EM survey at Yuinmery, located just six kilometres east of the Youanmi gold mine and 475km northeast of Perth.
* The results of the surveys have increased our confidence that we are looking at major zones of mineralization at Yuinmery, and over a wider area than initially reported,� Empire Resources� Managing Director, David Sargeant, said yesterday.
* None of these zones have been tested very deeply,� Mr Sargeant said. �We are particularly encouraged by our ongoing work at the Just Desserts prospect within the Yuinmery project area where high grade gold mineralization accompanies the copper sulphides and appears to be associated with a large electrical conductor.
* Empire has taken the decision to include these findings in our going forward program, including adjusting our current RC drilling which was already underway on site to test high grade copper-gold mineralization intersected in the previous December quarter.
* The drilling is designed to test newly identified geophysical conductors, enhance geological interpretations and enable an estimation of the size potential of this prospect prior to deeper diamond drilling in the future.�
The two surveys identified a number of electrical conductors contiguous with the project�s previously reported copper-gold mineralization. Mr Sargeant said the conductors were likely to be due to the presence of additional sulphide mineralization.
Five prospects are being tested in the current 2,000m RC drilling schedule which will also now test the strong off-hole conductors as well as extensions to the previously announced mineralisation.
- 19 Feb 2008
