Could the Empire Pitfield Titanium Project really be the biggest thing on the planet?
“…I am super excited. Forty holes drilled. Nearly six thousand meters of drilling. EVERY hole drilled from surface to the end hit titanium mineral. It’s an extraordinary outcome…”
Empire Metals had an exceptional year last year in terms of discovery, and the dynamic 550 percent increase in the company’s share price.
Far from resting on its laurels, this year the explorer is intent on transitioning to developer status as it progresses the gigantic Pitfield Project.
“Empire is starting to get completely rerated and people are starting to understand the potential of Pitfield, this giant mineral project that we’re now starting to not just explore, but we’re starting to look at how we can develop,” says managing director Shaun Bunn.
He’s well supported in the analytical lab results from the recently completed reverse circulation drilling programme. “The idea now is that we can quickly accelerate and start to define this massive mineral system. Shallow, high grade targets that we can look to bring into a development scenario,” says Bunn who references the much more holistic framework being deployed to progress the “giant scale titanium project that is going to shake up the industry.”
He’s also well supported by early cornerstone investor Fahad Al-Tamimi who made a fresh strategic investment in January’s placement. In addition to photo shoots with King Charles III, Al-Tamimi has extensive construction credentials in Saudi Arabia so can talk engineering and development and finance concurrently.
Bunn reminds investors that prior to this month’s strategic placement, the company was already well funded and the additional financing ensures the company’s strategy to position itself to the end of 2024 “so that we’re strong, we’re confident, we have ticked a lot more boxes in the on the pathway to getting a development story going.”
Watch Shaun talk to Sarah Lowther about Pitfield, the rest of Empire’s portfolio and why titanium is referenced as ‘critical’ by many of the world’s governments.
Empire Metals is one of our 2024 Mining Companies to watch
.
Access the company’s most recent corporate presentation
Follow the company on X @Empiremetalsltd
The author was remunerated but does not hold shares in the company
