Emmerson Resources has a substantial shareholder that keeps on buying
The company's flagship project is its Tennant Creek Mineral Field joint venture.
Company
ASX:EVN
Evolution Mining (ASX:EVN) formerly Catalpa Resources has two gold assets, a 100% interest in the 100,000 ounce per annum Edna May Gold Operations in Western Australia and a 30% interest in the 100,000 ounce per annum Cracow Gold Operations in Queensland (70% Newcrest Mining).
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The company's flagship project is its Tennant Creek Mineral Field joint venture.
Argent is set to increase news flow across its three key projects.
Emmerson’s flagship project is its TCMF joint venture in the Northern Territory.
Assays have confirmed gold extensions to Edna Beryl at depth.
The approvals are expected to allow Argent to begin drilling in the last week of February.
The two licences join Empire’s wholly-owned Yuinmery copper-gold project.
Emmerson Resources (ASX:ERM) has a long time substantial shareholder in the Sydney based high net worth fund Noontide Investments.
Emmerson Resources Ltd recently outlined the best drill result in the history of the company’s drilling at Tennant Creek.
These new results at Edna Beryl confirm the high grade nature of the mineralisation and the potential for expansion beyond the sparse, existing drilling. More assays are pending.
While the "small mines strategy" is not the main game for Emmerson, it should prove lucrative in the current AUD gold price climate which is now looking to fast track a pipeline of 6 small high grade resources to production.
Phoenix Gold is now more than 90% held by Evolution Mining, with Evolution moving to compulsory acquisition of the remaining Phoenix shares.