Empire Metals turns attention to Western Australia hot spot

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  • Empire Metals sells stake in Georgian copper and gold project for US$3.3mln
  • The transformation of Empire Metals to Australia-facing gold company continues apace
  • Empire Metals’ new Managing Director Shaun Bunn presents Central Menzies gold project plans
Empire Metals Ltd -

Quick facts: Empire Metals Ltd

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Empire Metals’ primary focus is on the Eclipse Gold Project in Western Australia which produced 954 tonnes @ 24.6 g/t Au for 754.25 oz Au from the Eclipse shaft which operated up to 1910. In addition to the known mineralisation at and surrounding the Eclipse old workings, recent geophysics and geochemistry work has highlighted further potential mineralisation at two additional targets north-west of Eclipse, the Houdini and Easy prospects.

The company’s 50% joint venture in Georgia covers an area of over 860 sq km and has a 30-year mining licence with a variety of targets and projects ranging from greenfield exploration / target definition phase through intermediate target-testing phases to more advanced projects including Kvemo Bolnisi East which is due to advance to Feasibility Study.

07 Jun 2021

() has sold its 50% stake in Georgian Copper & Gold JSC for US$3.3mln cash that it says will put it “in a strong financial position to continue to create shareholder value”.

The buyer, Caucasian Mining Group, will make a single cash payment.

Empire has also agreed with Candelaria Mining Corporation to mutually terminate their agreed deal, as Caucasian Mining took up its right of first refusal (ROFR).

Empire’s board concluded that the Candelaria offer is the best option available to the company and will allow it “to move forwards from the untenable situation in Georgia and focus its resources and efforts on the company’s new strategy of exploration and development”.

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20 May 2021

() revealed it has an option to acquire a 75% interest in four exploration licences that comprise the Central Menzies gold project.

Empire paid A$250,000 in cash plus A$100,000 in newly issued shares (at an assumed price of 2.85p per share) to acquire the option, which lasts for nine months.

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17 May 2021

(), an AIM-quoted exploration and development company, said it appointed Shaun Bunn to the board as managing director effective from 1 June 2021.

Bunn is a metallurgist based in Perth, Western Australia, with over 35 years’ experience in exploration, mining, processing and project development, including over 25 years’ experience in the gold mining sector.

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10 Nov 2020

There are currently three strands to ().

The first, and the one that’s likely to add the most value in the short term, is the company’s option to acquire a stake in the Eclipse gold project in Western Australia. This asset lies just 50 kilometres north of Kalgoorlie, one of the most famous addresses in gold mining, and is currently the subject of a drilling campaign.

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20 May 2021

Empire Metals Limited’s () new managing director Shaun Bunn joins Proactive London to discuss an option to buy a majority stake in the Central Menzies gold project. This 75% interest in four exploration licences comprise the Central Menzies Gold project.

Empire paid A$250,000 in cash plus A$100,000 in newly issued shares (at an assumed price of 2.85p per share) to acquire the option, which lasts for nine months.

Bunn is a metallurgist based in Perth, Western Australia, with over 35 years’ experience in exploration, mining, processing and project development, including over 25 years’ experience in the gold mining sector.

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Empire Metals’ new Managing Director Shaun Bunn presents Central Menzies…

Empire Metals Limited’s (LON:EEE) new managing director Shaun Bunn joins Proactive London to discuss an option to buy a majority stake in the Central Menzies gold project. This 75% interest in four exploration licences comprise the Central Menzies Gold project.

Empire paid A$250,000 in cash…

2 weeks, 5 days ago

2 min read

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