A punt on Empire Metals Pitfield project could deliver massive amounts of value
“…Go write the geological rule books for us because nobody else has ever found this…”
Many investors in the junior mining space have rudimentary knowledge of greenstone belts. The globe-spanning ancient volcanic rock systems that often yield the critical minerals that the EV economy is so desirous. Less is known about the high-grade titanium deposit that has emerged via hydrothermal alterations as discovered by Empire Metals Ltd in Western Australia.
It’s one of the reasons that Empire labels its Pitfield Project as unique. “Go write the geological rule books for us because nobody else has ever found this,” says Managing Director Shaun Bunn.
Pitfield is unique due to its sheer size. Imagine a 40-kilometre long, eight-kilometre wide, five-kilometre deep inverted Mount Everest with a saturated target that has the potential for pigment quality titanium produced at scale and at low cost.
That’s a lot to absorb and Bunn says the company is going at light speed to create the ecologically sound demonstration plant that will elevate the explorer to producer, and possibly as soon as 2025.
To do this Empire is beefing up its technical team, deploying commercial professionals, and incorporating indigenous needs and government department remits into the business plan. “We’re going to try and have the basic flow sheet, the basic design on the table ready to present by the end of this year,” says Bunn who references permitting, going through the government process and engaging with farmers about demonstration plant locations. “All that’s going to happen now. We’re going to start that work straight away.”
The federal government has already demonstrated it’s mature and pro mining. Bunn talks about the billion-dollar, low cost interest government loan granted to neighbouring mineral sands producer Iluca Resources which is developing Australia’s first fully integrated rare earths refinery.
That’s a calculated punt by the government and as Shaun tells Sarah Lowther in this video interview “If you wanted to take a punt on us for not a lot more money we can deliver massive amounts of value.”
Empire Metals is one of our 2024 Mining Companies to watch
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The author was remunerated but does not hold shares in the company
