Empire Metals

Empire Metals Limited Announces £4.5m Subscription by Institutional Investors

£4.5 million Subscription by Institutional Investors, Advancing Development of the Pitfield Titanium Project

Empire Metals Limited (LON:EEE)(OTCQB:EPMLF), the AIM-quoted and OTCQB-traded resource exploration and development company, is pleased to announce that is has raised £4.5 million by way of a subscription of 47,368,423 new ordinary shares of no par value in the capital of the Company at 9.5p (the 'Subscription Shares') to existing and new institutional shareholders (the 'Subscription').

Shaun Bunn, Managing Director, said:"I am pleased to confirm the successful completion of this Subscription, which has increased participation from our institutional shareholders in Asia andAustralia. The Subscription was led by Asian Investment Management Services Ltd, an existing shareholder.

"The continued support from institutional investors highlights the scale and quality of the titanium discovery at Pitfield, and the opportunities that it brings. The additional funds strengthen our balance sheet, increasing our cash position to £7.1 million, and will be deployed to expand the planned drilling programme with the objective of establishing a globally significant Mineral Resource Estimate ('MRE'); progress the bulk metallurgical testwork so as to deliver high-purity TiO2 product samples to end users; and bring forward the commencement of economic studies.

"With momentum building in 2025, Empire is in a strong position to advance Pitfield and capitalise on the global focus on critical minerals such as titanium."

Use of Funds
The proceeds of the Subscription, together with existing cash reserves of £2.6 million, will be primarily used to:

  • Expand the Pitfield titanium mineral resource development drilling programme to define a globally significant MRE;
  • Appoint additional metallurgical and engineering personnel to accelerate the development of the process flowsheet;
  • Upscale the bulk metallurgical testwork to provide high-purity TiO2 product samples to potential end users; and
  • Accelerate the commencement of mining studies, well ahead of schedule.

Laboratory testwork results to date have been encouraging and the use of conventional processing techniques has increased management's confidence that the process flowsheet can deliver high-value commercial end products. Development focus now has turned to optimising the various processing steps and commencing mine option studies. Proceeds from this equity placement fully fund the Company through these important, project development workstreams.

Application for Admission and Total Voting Rights
The Subscription Shares will rank pari passu in all respects with the existing ordinary shares of no par value in the capital of the Company. Application has been made to the London Stock Exchange for the Subscription Shares to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective on or around 30 May 2025. As a result of the issue of the Subscription Shares as described above, the issued share capital of the Company now consists of 689,633,233 ordinary shares of no-par value.

Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014, as incorporated into UK law by the European Union (Withdrawal) Act 2018, until the release of this announcement.

**ENDS**

For further information please visit www.empiremetals.com or contact:

About Empire Metals Limited

Empire Metals is an AIM-listed and OTCQB-traded exploration and resource development company (LON: EEE) with a primary focus on developing Pitfield, an emerging giant titanium project in Western Australia.

The high-grade titanium discovery at Pitfield is of unprecedented scale, with airborne surveys identifying a massive, coincident gravity and magnetics anomaly extending over 40km by 8km by 5km deep. Drill results have indicated excellent continuity in grades and consistency of the mineralised beds and confirm that the sandstone beds hold the higher-grade titanium dioxide (TiO₂) values within the interbedded succession of sandstones, siltstones and conglomerates. The Company is focused on two key prospects (Cosgrove and Thomas), which have been identified as having thick, high-grade, near-surface, bedded TiO₂ mineralisation, each being over 7km in strike length.

An Exploration Target* for Pitfield was declared in 2024, covering the Thomas and Cosgrove mineral prospects, and was estimated to contain between 26.4 to 32.2 billion tonnes with a grade range of 4.5 to 5.5% TiO2. Included within the total Exploration Target* is a subset that covers the weathered sandstone zone, which extends from surface to an average vertical depth of 30m to 40m and is estimated to contain between 4.0 to 4.9 billion tonnes with a grade range of 4.8 to 5.9% TiO2.

The Exploration Target* covers an area less than 20% of the overall mineral system at Pitfield which demonstrates the potential for significant further upside.

Empire is now accelerating the economic development of Pitfield, with a vision to produce a high-value titanium metal or pigment quality product at Pitfield, to realise the full value potential of this exceptional deposit.

The Company also has two further exploration projects in Australia; the Eclipse Project and the Walton Project in Western Australia, in addition to three precious metals projects located in a historically high-grade gold producing region of Austria.

*The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

Source

Click here to connect with Empire Metals Limited (LON:EEE)(OTCQB:EPMLF) to receive an Investor Presentation

EPMLF
Empire Metals

Empire Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Empire Metals

Empire Metals

Keep reading...Show less

Advancing a game-changing, globally significant titanium project in Western Australia.

Empire Metals

Empire Metals Limited Announces Team Expansion & Bulk Met Testing Commences

Empire Metals Limited (LON:EEE), the AIM-quoted and OTCQB-traded resource exploration and development company, is pleased to announce several strategic technical appointments and partnerships that strengthen the in-house project development team and support the advancement of the Pitfield Titanium Project ("Pitfield" or the "Project") in Western Australia.

These appointments coincide with the commencement of bulk-scale metallurgical testing, a critical step in progressing Pitfield toward commercial development.

Keep reading...Show less
Empire Metals

Empire Metals Limited Announces Completion of MRE Drilling Campaign

Completion of Major Drilling Campaign Targeting Maiden Mineral Resource Estimate

Empire Metals Limited, the AIM-quoted and OTCQB-traded exploration and development company, is pleased to announce the successful completion of its largest drilling campaign to date at the Pitfield Project in Western Australia ('Pitfield' or the 'Project'). This programme focussed on high-grade titanium mineralisation within the in-situ weathered cap at the Thomas Prospect and is designed to underpin the Company's maiden JORC compliant Mineral Resource Estimate ('MRE').

Highlights

Keep reading...Show less
Empire Metals

Empire Metals Limited Announces Warrant Exercise

Empire Metals Limited ("Empire" or "the Company") (LON:EEE)(OTCQB:EPMLF), the AIM-quoted resource exploration and development company, announces that it has received notification from SP Angel Corporate Finance LLP, Nominated Adviser and Broker to the Company, of the exercise of a warrant over 70,000 new ordinary shares of no par value in the share capital of the Company (the 'New Ordinary Shares') at a price of £0.06 per share. Accordingly, the Company has today issued the New Ordinary Shares to the warrant holder for an aggregate cash value of £4,200. The Company has also received notification from Shard Capital Stockbrokers, Broker to the Company, of the exercise of a warrant over 689,988 new ordinary shares of no-par value in the share capital of the Company (the 'New Ordinary Shares') at a price of £0.105 per share. Accordingly, the Company has today issued the New Ordinary Shares to the warrant holder for an aggregate cash value of £72,448.74.

Keep reading...Show less
Rising copper bars against a financial graph background.

Copper Price Update: Q2 2025 in Review

The copper price was volatile during the second quarter of 2025, but remained elevated compared to the price point near the start of the year.

Several factors were at play for copper during the second quarter, most notably the ongoing threat of tariffs on several sectors with close ties to the red metal. This also caused significant fallout in global financial sectors, with economists early in the quarter raising the spectre of a widespread recession.

Uncertainty, fear, and speculation were primary price drivers as metal traders, market movers, and investors tried to determine the best investment strategy against the backdrop of a chaotic economic landscape.

Keep reading...Show less
A gate with a lock on it.

Glencore to Close Last Australian Copper Mines, Smelter's Fate Uncertain

Glencore (LSE:GLEN,OTC Pink:GLCNF) is preparing to shut down its final two Australian copper mines next week, ending more than six decades of upstream operations in Queensland.

The closure of the underground Enterprise and X41 mines in Mount Isa comes as uncertainty grows over the future of the adjacent copper smelter, which the company says could also be shut down without urgent government support.

Keep reading...Show less
Flags of Australia and Pakistan.

Australia Welcomes Mining Joint Ventures with Pakistani Companies

Australia and Pakistan are planning to collaborate on delivering specialized training programmes to introduce new mining techniques and services, according to several news sites.

The discussions happened during a meeting between Pakistani Federal Minister for Petroleum Ali Pervaiz Malik and Australian High Commissioner Neil Hawkins at the Ministry of Petroleum, which focused on the expansion of a bilateral cooperation in energy and mining.

Keep reading...Show less
Questcorp Mining (CSE:QQQ)

Questcorp Mining Continues Exploration in Advance of Drilling at the La Union Gold & Silver Project in Mexico

 Questcorp Mining Inc. (CSE: QQQ) (OTCQB: QQCMF) (FSE: D910) (the "Company" or "Questcorp") is pleased to further update shareholders on the on-going surface exploration in preparation for drilling at the La Union Gold-Silver Project in Sonora, Mexico. Questcorp has an option to earn a 100% interest from Riverside Resources Inc. ("Riverside") in the 2,520 ha (25 km sq) property by making a series of cash payments and share issuance and incurring exploration expenditures.

Questcorp President & CEO, Saf Dhillon stated "The Riverside technical team continues to de-risk the upcoming 1500 metre mid-August maiden drill program through detailed surface mapping and sampling. The discovery of multiple stacked thrust faults in the main mineralized area has significantly enhanced the potential of the project. Management continues to be impressed with the excellent work and progress being made with prudent management of exploration dollars".

Keep reading...Show less
Forte Minerals (CSE: CUAU)

Forte Minerals Closes C$5.7 Million Strategic Placement, Welcomes Long-Term Partner

Forte Minerals Corp. (“Forte” or the “Company”) (CSE: CUAU) (OTCQB: FOMNF) (Frankfurt: 2OA), is pleased to announce the closing of its previously announced non-brokered private placement (the “Strategic Placement”) with a strategic investor (the “Investor”). The Investor has acquired 6,326,066 common shares at a price of C$0.90 per share, for gross proceeds of C$5.7 million.

Following today’s closing, the Investor holds 9.99 % of Forte’s issued and outstanding shares on a non-diluted basis, establishing a meaningful, long-term position in the Company’s copper-gold growth pipeline.

Keep reading...Show less
Copper pipes laid on top of each other in bundles.

5 Best-performing Copper Stocks on the TSX in 2025

Copper prices have seen considerable gains in 2025, reaching a record high on the COMEX of US$5.68 per pound on July 8. Rising prices and supportive policy have elevated many copper stocks.

The price of copper has experienced volatility since the start of the year, as shifting US trade policy has created competing scenarios amid recession and the imposition of tariffs.

On July 8, the price spiked to fresh all-time highs after US President Donald Trump announced he would impose a 50 percent tariff on all copper being imported into the US.

Keep reading...Show less
Empire Metals

Empire Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×