REG - Empire Metals Ltd - Placing to raise £7 million

Empire MetalsAnnouncement

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RNS Number : 3878F  Empire Metals Limited  30 October 2025

 

Empire Metals Limited / LON: EEE / OTCQX: EPMLF / Sector: Natural Resources

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET
ABUSE REGULATION (EU) 596/2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"). IN ADDITION, MARKET SOUNDINGS
(AS DEFINED IN UK MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE MATTERS
CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME
AWARE OF SUCH INSIDE INFORMATION, AS PERMITTED BY UK MAR. UPON THE PUBLICATION
OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE
PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF
INSIDE INFORMATION.

 

 

30 October 2025

Empire Metals Limited

('Empire' or the 'Company')

 

Placing to raise £7 million from Existing Institutional Shareholders

 

Empire Metals Limited (LON: EEE, OTCQX: EPMLF), the AIM-quoted and
OTCQX-traded resource exploration and development company, is pleased to
announce that is has raised gross proceeds of £7 million by way of a
subscription of 17,500,000 new ordinary shares of no par value in the capital
of the Company at a price of 40 pence per ordinary share (the 'Subscription
Shares') to existing institutional shareholders (the 'Subscription').

 

Rationale for the Subscription:

 

·    The Subscription funds will be used to maintain momentum across key
workstreams including resource expansion, advanced metallurgical testwork, and
the commencement of pilot-scale production in 2026, with the goal of
delivering high-purity TiO(2) product samples to potential end users and
supporting preliminary engineering and economic studies.

 

·    Product development will additionally focus on routes to optimally
produce lab and bulk samples of products for the titanium metal supply chain,
such as TiCl(4).

 

·    The Company will also deploy additional capital to strengthen its
team for its next phase of development and to pursue value accretive corporate
opportunities, including a possible dual listing on the ASX targeted for H1
2026, with Canaccord Genuity (Australia) expected to act as lead adviser.

 

Shaun Bunn, Managing Director, said: "I am very pleased to announce the
successful completion of this Subscription, which was executed at a premium to
the current share price and reflects increased participation from our
institutional shareholders in Asia and Australia. This continued support
underscores both the scale and strategic value of the Pitfield Project and
strengthens the Company as we move into a critical phase or our development.
With this Subscription, our cash position is now £11 million, providing a
robust balance sheet to drive the next phase of development."

 

Use of Funds

The proceeds of the Subscription together with existing cash reserves of £4
million will be primarily used for:

 

·    Exploration and Mineral Resource Drilling

·    Project Management and Project Development including:

o  General development related studies including environmental, social and
marketing

o  Preliminary engineering and economic studies covering mining, process
plant, infrastructure and energy

o  Metallurgical development including mineral separation and
hydrometallurgical continuous piloting

·    Corporate overheads

 

Application for Admission and Total Voting Rights

The Subscription Shares will rank pari passu in all respects with the existing
ordinary shares of no par value in the capital of the Company.  Application
has been made to the London Stock Exchange for the Subscription Shares to be
admitted to trading on AIM ('Admission').  It is expected that Admission will
become effective at 8:00 a.m. on 5 November 2025.  As a result of the issue
of the Subscription Shares as described above, the issued share capital of the
Company now consists of 710,893,221 ordinary shares of no-par value.

 

 

**ENDS**

 

For further information please visit www.empiremetals.com
(http://www.empiremetals.com)   or contact:

 Empire Metals Ltd

 Shaun Bunn / Greg Kuenzel / Arabella Burwell                                            Tel: 020 4583 1440
 S. P. Angel Corporate Finance LLP (Nomad & Broker)                                      Tel: 020 3470 0470

 Ewan Leggat / Adam Cowl
 Shard Capital Partners LLP (Joint Broker)                                               Tel: 020 7186 9950

 Damon Heath
 St Brides Partners Ltd (Financial                                                       Tel: 020 7236 1177
 PR)

 Susie Geliher / Charlotte Page

 

About Empire Metals Limited

Empire Metals Ltd (AIM: EEE and OTCQX: EPMLF) is an exploration and resource
development company focused on the rapid commercialisation of the Pitfield
Titanium Project, located in Western Australia.  The titanium discovery at
Pitfield is of unprecedented scale and hosts one of the largest and
highest-grade titanium resources reported globally, with a Mineral Resource
Estimate (MRE) totalling 2.2 billion tonnes grading 5.1% TiO₂ for 113
million tonnes of contained TiO₂.

The MRE, which covers only the Thomas and Cosgrove deposits, includes a
weathered zone resource of 1.26 billion tonnes at 5.2% TiO₂ and a
significant Indicated Resource of 697 million tonnes at 5.3% TiO₂,
predominantly from the Thomas deposit.  Titanium mineralisation at Pitfield
occurs from surface and displays exceptional grade continuity along strike and
down dip. The MRE extends across just 20% of the known mineralised footprint,
providing substantial potential for further resource expansion.

Conventional processing has already produced a high-purity product grading
99.25% TiO₂, suitable for titanium sponge metal or pigment feedstock. The
friable, in-situ weathered zone supports low-cost, strip mining without the
need for blasting or overburden removal.

With excellent logistics and established infrastructure, including rail links
to deep-water ports with direct access to Asia, the USA, Europe and Saudi
Arabia, Pitfield is strategically positioned to supply the growing global
demand for titanium and other critical minerals.

Empire is now accelerating the economic development of Pitfield, with a vision
to produce a high-value titanium metal and/or pigment quality product at
Pitfield, to realise the full value potential of this exceptional deposit.

The Company also has two further exploration projects in Australia; the
Eclipse Project and the Walton Project in Western Australia, in addition to
three precious metals projects located in a historically high-grade gold
producing region of Austria.

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