ERL 0.00% 0.3¢ empire resources limited

Ann: Quarterly Cashflow Report, page-42

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  1. 1,529 Posts.
    It would seem to me that they aren't stopping the progress..seems the Penny's Find is just the beginning of something bigger..Down the track, ERL will look to process on site, as the company looks to purchase its own infrastructure rather than rent, which would improve the long term economics.

    So, Penny’s Find can provide a significant, low cost starter mine for ERL, however the company also has a couple more cards up its sleeve.

    Firstly, it will begin drilling the A Zone at its 100% owned Yuinmery copper-gold Project, in order to define a Maiden Resource. Secondly it is looking at other gold deposits to add to its stable to beef up its expected overall resource.

    In January, ERL entered into a two-year Option agreement to acquire two nearby prospective copper-gold licenses also in WA… an acquisition that would extend ERL’s already impressive portfolio.

    With sufficient funds to see it through to gold production, and imminent access to the overall circa 470,000 tonnes @ 4.42g/t gold Resource waiting to be mined in Penny’s Find.

    Looks like they aren't going to be sitting on their hands or sitting around twiddling their thumbs while Penny's Find pumps out the gold bars shortly, seems they have growth /future plans in the works.
 
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