Empire Metals Ltd (AIM:EEE, OTCQX:EPMLF) has hailed a transformational year in its development of the Pitfield titanium project in Western Australia, with the coming 12 months set to focus on further de-risking the path to production.
The company's key achievement during the year was the completion of its maiden mineral resource estimate, which confirmed the deposit at 2.2 billion tonnes grading 5.1% titanium dioxide (TiO₂) – among the largest titanium resources globally.
Empire also achieved a high-purity TiO₂ product of 99.25% through conventional processing, supporting Pitfield's potential as a feedstock for both pigment and titanium metal production.
The maiden estimate covers only a fraction of the known mineralised footprint, leaving significant scope for further resource growth.
Work this year will include resource expansion drilling, metallurgical optimisation and a scoping study, alongside preparatory work for a potential dual listing on the Australian Securities Exchange (ASX).
Empire raised £11.5 million across two fundraisings during the year and held cash of £8.4 million as of March 20, though it reported a loss of £3.5 million for 2025, narrowed from £4.1 million in 2024, as the company does not yet generate revenue.
Managing director Shaun Bunn called 2025 "a transformational year," saying the results confirmed "the unique scale and quality of the project."
He added: Following two successful fundraises, we remain in a robust cash position with a strengthened shareholder register that will support us on our accelerated path to the commercialisation of the project."