Shares in Empire Metals Ltd (AIM:EEE, OTCQB:EPMLF) rose 16% after the company announced it had produced a high-purity titanium dioxide (TiO₂) product with an assay grade of 99.25%.
The breakthrough came from ongoing testwork at its Pitfield project in Western Australia.
The process used conventional beneficiation, leaching, and refining techniques, with impurities in the final product either undetectable or extremely low.
Managing director Shaun Bunn called the results “exceptional,” noting the product’s suitability for both titanium sponge metal and high-quality pigment applications.
Empire is preparing to scale up testing, using a 70-tonne bulk sample collected earlier this year. The company plans to produce a range of product samples for evaluation by potential end-users as part of its strategy to develop commercial pathways for the project.
The shares rose 2.31p to 16.41p.