| Market cap (m) | £243.4 |
| Enterprise value (m) | £233.8 |
Empire Metals Ltd is an exploration and resource development company with a project portfolio comprising gold interests in Australia and Austria. The company develops a pipeline of projects with its main focus on the high-grade Eclipse and Gindalbie Gold Projects in Western Australia. The company's project portfolio includes the Pitfield Project, Eclipse-Gindalbie Project, Stavely Project, and Walton Project. Its Pitfield titanium project is contained within a giant, sediment-hosted, hydrothermal mineral system. The Group operates in three geographical areas, the UK, Austria and Australia.
Empire Metals reported a narrower pretax loss for the year and announced a maiden mineral resource estimate for the Pitfield titanium project. Testwork using beneficiation, leaching and refining produced a high-purity titanium dioxide product. The company raised capital through new share issuance and reported a higher cash balance.
Empire Metals said it will focus on workstreams to de-risk Pitfield’s development, including expansion drilling and engineering studies to support a scoping study. It is also pursuing a dual listing on the Australian Securities Exchange, with Canaccord Genuity as lead advisor.