Empire Metals was one of the best AIM stocks of 2023 – more to come?
In 2023 Empire Metals (EEE) discovered a titanium deposit of what it said at the time was of ‘unparalleled size and grade’.
The Pitfield Project is based in Western Australia and is, at least, 40km long, 8km wide and 5km deep from the surface. EEE has just released the initial mineralogical and met results which confirmed that the mineralisation is dominated by titanite in such quantities as to set Pitfield apart from any previously reported world-class titanium resource. An “unprecedented discovery” according to Bunn. Management is now pushing ahead with plans to construct a test plant next year ahead of full-scale commercial production.
(AI Video Summary)
Empire Metals
Empire Metals, a company that explores and develops resources, had a great year as one of the top-performing AIM stocks. They are focused on their Pitfield project in Western Australia, where they have made an incredible discovery of titanite, a mineral high in titanium dioxide. This special ore has huge potential to be used in various industries like paints, coatings, and aerospace.
To move things along quickly, Empire Metals has been drilling and collecting samples. They put together a team of experts and are now designing a demonstration plant to further develop the project. With the massive scale, high-grade titanium, and easy extraction process, the company is confident that this project will be successful.
In terms of funding, Empire Metals has raised a total of six million pounds to cover its operations this year. Most of the funds will be used for the process development side of the project, which includes testing and building the demonstration plant.
Empire Metals share price
Even though Empire Metals is doing so well, its share price doesn't accurately represent its value. The company believes that once the demonstration plant is up and running and they prove their process, the value of the company will increase significantly. Larger mining companies are currently keeping an eye on the progress, but not actively trying to take over. However, that interest is expected to grow once the demonstration plant shows the value of their titanium product.
Empire Metals didn't specify when the demonstration plant will be operational, but they expect to make significant progress in the next year. They have all the necessary resources and expertise to move forward smoothly. Overall, the company is optimistic about its future and has big plans to become a major supplier of high-grade titanium dioxide in a market that is rapidly growing.
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