Sign up Australia
Proactive Investors - Run By Investors For Investors

Emmerson Resources gets overwhelming shareholder support for Tennant Creek strategy

The restructure unlocks the potential for greater near-term value for shareholders.
project area
Drilling is currently underway at the project

Emmerson Resources Ltd’s (ASX:ERM) shareholders have overwhelmingly voted to formally approve the restructuring of the Tennant Creek Mineral Field joint venture with Evolution Mining (ASX:EVN).

Under the restructure, Emmerson retains 100% ownership of the majority of the tenements representing about 94% (about 2,600 square kilometres) of the entire tenement package.

It includes the gold dominant projects, small mines and associated exploration ground considered highly prospective for new discoveries.

Emmerson managing director Rob Bills said: “Emmerson has wasted no time in capitalising on the opportunity of generating new projects in what is now 100% Emmerson ground.

“The recent high-grade cobalt, copper and gold discovery at Jasper Hills highlights the potential of the project area.

“We are also currently working to build on this discovery momentum with extensional drilling of several high-grade gold projects and a helicopter borne geophysical survey searching for new gold, copper and cobalt deposits.”

READ: Emmerson Resources begins survey for further cobalt, copper and gold at Tennant Creek

Following the restructure, Emmerson holds a 100% interest in the Tribute Mining Agreement at Edna Beryl and all the other small mine projects in Tennant Creek.

The company is currently midway through a 2,400-meter drilling program, seeking to add the Malbec and West Gibbet targets to its small mines portfolio, and further exploring the Mauritania greenfield discovery.

Elsewhere at Tennant Creek, an airborne electromagnetic survey of Jasper Hills and Edna Beryl areas has recently concluded, and that data being compiled now.

Greater near-term value for shareholders

For Emmerson, the restructure unlocks the potential for greater near-term value for its shareholders and provides a better strategic fit in terms of delivering high margin projects across a shorter time.

In addition, Emmerson retains the data acquired from testing and trialling of new concepts and technology on assets such as the Tennant Creek Exploration Base and Warrego Mill.

This will enable the company to easily scale up exploration and operations around its small mines, plus attract potential new joint venture partners.

View full ERM profile View Profile

Emmerson Resources Ltd Timeline

Related Articles

Picture of lithium cycle
May 10 2018
The inferred resource at Sadisdorf in Germany now stands at 25 million tonnes grading 0.45% lithium.
July 17 2018
The hard rock collaboration agreement with Omnia Mining has sent channel samples and rock chips for assay sampling.
project area
Completion of pre-feasibility study and project costing and economics expected in the third quarter of calendar year 2019.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use