UK's Empire Metals H1 loss widens as Pitfield investment rises
UK's Empire Metals H1 loss widens as Pitfield investment rises
Overview
UK titanium explorer's H1 loss widened as investment in Pitfield project increased
Company upgraded Pitfield resource, confirming it as world's largest titanium deposit
Raised £8 mln from shareholders and sold Eclipse Mining Lease for A$750,000
Outlook
Empire Metals to advance mine planning, engineering and economic studies for Pitfield in H2 2026
Company expects further Pitfield MRE upgrade in mid-2027, targeting conversion of Indicated to Measured Resources
Empire Metals plans dual ASX listing in H2 2026 to broaden investor access
Result Drivers
DRILLING CAMPAIGN - Largest drilling programme at Pitfield led to upgraded mineral resource estimate, confirming world's largest titanium deposit
PROCESS DEVELOPMENT - Completion of integrated metallurgical flowsheet for Pitfield designed to produce high-purity titanium products
CAPITAL RAISE - £8 mln raised from shareholders supported key workstreams for Pitfield project advancement
Company press release: ID:nACS8cGRBa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Loss Per Share |
| GBP 0.00262 |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the diversified mining peer group is "buy"
Wall Street's median 12-month price target for Empire Metals Ltd is GBp62.00, about 42.5% above its August 26 closing price of GBp43.50
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)