Ann: Injunction Sought in Supreme Court, page-20

ERL ASX 4 June 2015_Pennys Find Gold Deposit Partnership change unlocks potential.
  Empire is pleased to announce that the purchase of 100% of unlisted Brimstone .............by unlisted Australian company Barola.....
  The completion of this sale has unlocked the potential of Penny's Find......

ERL:ASX_ 30 June 2016_ Free Cash Flow
  $7.6m  in less than a year
  Every A$100/oz rise in the gold price over A$1500/oz generates extra A$2m cash flow.  

ERL:ASX_21 March 2017_PENNY'S FIND GOLD MINE JV SECURES $7.5M FUNDING......
A recently re-designed pit and new mining schedule will also allow Empire to mine at a faster rate than previously announced with   considerable cost savings.....

From the above, with gold prices around A$1700/oz, we should be looking at around A$12,000,000 Free Cash Flow.

As Bentley 007 says, ERL now say A$1.2 has been distributed and around A$800,000 is to follow (even though its tide up in dispute with Burbanks Milling). Thats where the A$2m comes from.

My question is, can somebody (Bushblock, Wocla, or any body else) tell me where the remaining A$10m is? Because if it was available Brimstone would have A$4.8  to play with and we would not be wasting our time nit picking over Brimstone (who ERL was in love with in 2015) and ERL would have A$7.2m in the bank to go forward and would not have to raise funds and dilute existing shareholder value.

You can be sure, this fall out is over money, or more correctly, the lack of it and thats what we should be focusing on.

Where is the remaining A$10,000,000


Niterider