Shares of Empire Metals Ltd (LON: EEE) surged 16.1% after the company announced that it had received approval from the Australian Foreign Investment Review Board to proceed with the acquisition of the Eclipse Gold Project, located 55km north-east of Kalgoorlie, Western Australia.
The last step in the acquisition process is Ministerial Consent, which is expected shortly.
The exploration and mining company recently announced encouraging drilling results at the Eclipse gold project, which led it to exercise its option to acquire a 75% interest in the project, which was just approved by Australia’s FIRB.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
The initial results boosted Empire Metals confidence in the project as it confirmed further signs of gold mineralisation at the mine.
The Eclipse project is located in the vicinity of the other old workings of Jack’s Dream and Steinhobel,’ which was mined in the early 1900s and produced 197 tonnes of gold @ 23.8 g/t Au.
Although no official records of production at Steinhobel exist, there is evidence of historic gold production from the old stopes visible on the surface.
Empire Metals share price
Empire Metals shares surged 16.1% to trade at 4.18p having rallied from Tuesday’s closing price of 3.60p.
