16th Sep 2025 12:42
(Alliance News) - Empire Metals Ltd on Tuesday clarified that there has been no material change to its operational or financial position to explain a recent drop in shares.
Shares in Empire Metals were down 13% at 34.00 pence in London on Tuesday. The stock has dropped 41% over the last five days.
The explorer and resource developer, currently focused on the Pitfield titanium project in Western Australia, said it remains confident in its strategy and the progress being made at the Pitfield site.
It continues to advance technical and commercial workstreams "to unlock the project's full potential," Empire Metals added.
The company said it is "well funded" to achieve upcoming milestones, supported by GBP4.5 million fundraising in the second quarter.
At the end of June, the company's cash position was GBP6.3 million.
"Empire has achieved exceptional progress at Pitfield in a very short time and its operational trajectory continues to impress. The combination of outstanding drill results, breakthrough metallurgy, and further injection of capital in May has transformed the company," said Managing Director Shaun Bunn.
"These fundamentals remain unchanged and continue to strengthen. Pitfield is now firmly established as a project of global significance, with a unique combination of scale, grade and processing simplicity that sets it apart from other titanium projects worldwide."
By Michael Hennessey, Alliance News reporter
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