Empire Metals (“EEE”) is a junior AIM-listed copper and gold exploration and resource development company focussed on the prolific Tethyan Belt.
Currently GEO holds a large highly prospective 860km2 licence area in Georgia with a 30-year mining licence in a joint venture (“JV”) with a local explorer. The licence area includes over a dozen known prospects, some with extensive historical work completed, and offers the potential for a robust pipeline of value-creative gold-copper resource development projects. Current mining and processing operations immediately adjacent to the licence boundaries are operated by the sister company to the JV partners.
The 50:50 joint venture was created in July 2015 with the purpose of identifying and developing copper-gold resources. By utilising the local knowledge and experience of our partners, and GEO’s international exploration and resource development expertise, coupled with GEO’s access to and experience with international financial markets.
The Company is pursuing three parallel avenues to generate shareholder value:
- To advance the Kvemo Bolnisi East (“KBE”) project to production.
- To confirm the opportunities at other advanced projects in the wider licence area, and generate value from the regional exploration programme.
- To expand the projects portfolio with carefully selected high value opportunities.
The significant discovery of gold oxides and copper-gold sulphides at the epithermal Cu-Au KBE project in late 2016 has led to a development case for this near-term production target which is advancing to feasibility study. This project is only a few kilometres from the Madneuli heap leaching and sulphides flotation operations.
The Board are also focussed on strategic copper-gold opportunities within the wider Tethyan Belt, with the aim of expanding the projects portfolio.
Board and Management
GEO is underpinned by an experienced Board and management team with a track record of successful resource development and project execution, coupled with strong regional credentials and a sharp focus on project delivery. The company has a small but cohesive and experienced technical team in Georgia and has developed excellent partner relations and extensive contractor relationships.
Central to the Company’s strategy is our standing and reputation as a good corporate citizen, and our core values of health, safety, environment and community are integral to the way we operate
Georgia is a low cost and stable jurisdiction, with a respected business environment and credible Transparency International ranking. Furthermore, its Government is committed to expanding the mining sector and to attracting additional foreign direct investment into mining projects.