Empire Metals Ltd (AIM:EEE, OTCQX:EPMLF) told investors that there's no material change to its operations or finances, as it noted a recent fall in its share price.
The company, in a statement, confirmed it remains confident in the strategy and the progress at its Pitfield titanium project in Western Australia.
Empire said that it had £6.3 million in cash at the end of June, and, a maiden mineral resource estimate for Pitfield remains on track for release in October. That resource is then expected to be the foundation for mine scoping studies.
At the same time, the company is advancing metallurgical testwork and optimisation programmes, bringing the project toward pilot-scale operations.
"Empire has achieved exceptional progress at Pitfield in a very short time and its operational trajectory continues to impress," said managing director Shaun Bunn.
"The combination of outstanding drill results, breakthrough metallurgy, and further injection of capital in May has transformed the company.
"These fundamentals remain unchanged and continue to strengthen. Pitfield is now firmly established as a project of global significance, with a unique combination of scale, grade and processing simplicity that sets it apart from other titanium projects worldwide."