ERL 0.00% 0.3¢ empire resources limited

Steve’s contract was announced 15 July 2015...

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    Steve’s contract was announced 15 July 2015 -http://www.resourcesempire.com.au/docs/15072015%20Empire%20Appoints%20Mine%20Developer%20for%20Penny’s%20Find.pdf
    He was apparently working for Empire for more than a year until September 1 2016 when his replacement, Steve Rodgers was announced. http://www.resourcesempire.com.au/d...pointed as new WA Gold Mine Work Underway.pdf)?

    He was employed to project manage, to develop the mine and to “revitalise” the project soon after the big reveal that Penny’s Find was ‘Not Sold After All ‘
    Remember despite repeated Management comment across seven months in 2014 ( see previous links ) referencing the sale of Penny’s as being discussed, pursued and finally reaching a level “advanced” negotiation ..
    It transpired the very opposite had happened and within three months of the sale being bouyantly headlined in the quarterly report ending December 31, 2014, shareholders were told that - like a well thrown boomerang - Penny’s Find was coming back. (http://www.resourcesempire.com.au/docs/29012015 Quarterly Activities Report.pdf)
    Contrary to the anticipatory announcements, rather than 100% sold it had been 40% repurchased.
    (And seeing as ‘half’ of the purchaser was actually Empire itself I think it’s reasonabke to assume directors were a being a bit tricksy here )

    Enter Steve Norregard to take on the project .

    As we know it ended in tears ...


    Empire fights Stig over money
    MINING engineer Johannes Stig (Steve) Norregaard has filed a writ against Empire Resources for $A40,000 plus an undefined profit claim as well as damages and costs.
    The dispute is related to the termination of arrangements between Empire and Norregaard, and follows Norregaard’s appointment in July 2015 as project manager for Empire’s Penny’s Find gold project north of Kalgoorlie.
    Empire, which recently appointed Steven Rodger as project manager, believes the claims are without merit and as such will be “vigorously” defending itself in the matter.
    Norregaard is a former managing director of Red 5 and Tectonic Resources.
    Penny’s Find has open cut reserves of 21,700 ounces and has been flagged to generate about $A7.6 million in free cash flow in less than 12 months from an open cut, toll treatment mining venture that has just got underwa
    y.
    http://www.miningnews.net/regulation/news/1252851/empire-fights-stig-money
 
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