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EM2 - Eagle Mountain Mining

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Trav.

Trav.

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Eagle Mountain Mining Limited (ASX:EM2), established in 2017, is a copper-gold explorer focused on the strategic exploration and development of advanced and greenfields projects in Arizona USA.

Arizona is at the heart of America’s mining industry and home to some of the world’s largest copper discoveries, now owned by major mining companies including BHP, Rio Tinto, Freeport McMoRan and Hudbay. Eagle Mountain’s Oracle Ridge and Silver Mountain Projects are within the Laramide Arc which hosts many of these significant copper porphyry deposits.


eaglemountain.com.au

Eagle Mountain Mining

Copper & Gold in Arizona
eaglemountain.com.au eaglemountain.com.au


 
EM2 going strong and with copper doing well you really can't go wrong here.

Extract from latest announcement

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Weekly Chart below for EM2

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I'm only looking for sells currently but this chart might have attracted me if in spec buy mode.
I like the small bodied but higher volume weekly candles, seemingly cementing price around 20c. Has moved outside the downtrend and a bit of momentum divergence.
Copper exploration project in Arizona. Had the backing of spec meister T Locantro in 2021 and he mentioned it again at this depressed price. What a terrible year he's had with his 2022 picks, sounds like clients are bailing on him. His copper comments at about 2.40

Not Held
Not Buying

Weekly
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REQUEST FOR TRADING HALT
Pursuant to ASX Listing Rule 17.1 Eagle Mountain Mining Limited (“Eagle Mountain, the
Company”) requests a trading halt on its securities pending the release of an announcement
regarding a proposed capital raising.
 
finicky said:
Raised $5m by placement @ 0.165 and M.D is putting in $2m of it, that gets my interest.

Not Held

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Normally I would agree that a $2m share purchase by a director is a good thing. But Bass made a few hundred million from Aquilia several years ago - so my question is: Is this now his retirement hobby? Or is this a genuine investment?

He also bought $1,000,000 at 45 cents (24/03/22)... And there was another $1,000,000 at 65 cents (28/09/21)... And then there was the $1,000,000 loan repayment (26/08/21) made via shares at 76 cents.... Then there was the $2,000,000 at 35 cents (22/02/21)... SP today closed at 17 cents.

Still - no matter how you slice it he'll probably keep pouring $$$ into the pot but pouring money into the pot doesn't mean drill rigs strike high grade thick copper or the share price goes up.
 
EM2 @ 19c
Chart has recovered well after the dip caused by placement and SPP @ 0.165

Not Held

Weekly
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Strong move with volume today on the announcement that they are ready to drill from underground at old Oracle Ridge mine, the project that T Locantro 'colorfully' some time ago called the cheesecake when they get to it. Don't really understand what the metaphor is but sounds enticing. Mgt is saying that they're looking at 4 kms of exposed mineralisation along the wall of the old mine and that drilling will be cheaper because of short accurate stabs at what they can already see. Got a strong feeling I'll regret not buying into this one. Oh well, I'll always have Kingwest (KWR) to brag about - nailed it.

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finicky said:
Strong move with volume today on the announcement that they are ready to drill from underground at old Oracle Ridge mine, the project that T Locantro 'colorfully' some time ago called the cheesecake when they get to it. Don't really understand what the metaphor is but sounds enticing. Mgt is saying that they're looking at 4 kms of exposed mineralisation along the wall of the old mine and that drilling will be cheaper because of short accurate stabs at what they can already see. Got a strong feeling I'll regret not buying into this one. Oh well, I'll always have Kingwest (KWR) to brag about - nailed it.

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very nice volume increase and price movement for further upside.

could be looking to smash through $0.285 and recognise a technical uptrend and a potential bull run

Held at $0.155
 
Trav. said:
EM2 going strong and with copper doing well you really can't go wrong ...
Click to expand...
And still announcing impressive (ish) copper, but SP not following. Now 11.5c

Thick Mineralised Zones Intercepted in Multiple Holes At Oracle Ridge Copper Mine

Highlights
  • All six surface holes drilled on the far western extent of Northwest Oracle Ridge have intersected broad mineralised zones
  • Multiple high-grade zones were encountered within the overall mineralised package
  • These six holes are likely to increase the Measured resource category in this area as well as an overall increase in the volume of mineralisation in the Mineral Resource
  • The substantial amount of sub-1% Cu mineralisation intermixed with the higher grade material presents optionality for bulk mining and processing scenarios
  • Three underground holes likely to expand and upgrade the next Mineral Resource
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Confounded many expectations. I looked at a preso some months back and my enthusiasm for the project flagged - forgotten why. But at 11c I am temped again to punt: what with the location in Arizona amongst majors, heavy buying from the chair (although see Triangle's reservations on that), the fact that they're developing a resource in and surrounding an old proven copper mine and the discount to the recent 0.165 capital raising. But why is the market rejecting it?

Not Held
 
whoopsy daisy... dust off the files...

RENOUNCEABLE ENTITLEMENT ISSUE TO RAISE A$6.4 MILLION​
• Eagle Mountain Mining Limited is pivoting its activities towards exploration.
• The Company is to undertake a Renounceable Entitlement Issue to raise up to a total of A$6.4 million to reduce debt, review new opportunities and fund exploration activities.
• The Renounceable Entitlement Issue is to be underwritten to A$5.77 million being 90% of the total issue being made available to the Company’s circa 2,000 shareholders.
• The Offer is strongly supported by the Managing Director and major shareholder Charles Bass committing A$3.0m of subordinated sub-underwriting, Non-Executive Chairman Rick Crabb committing $150,000 of general sub-underwriting and Non-Executive Director Roger Port committing to take up his full entitlement.
• Board and Management changes to reflect the pivot to exploration with Mr Fabio Vergara taking on the role of Executive Director, effective 31 January 2025. All current Directors will waive their Director fees commencing 1 December 2024 until further notice to ensure that the Company runs leanly with its exploration focus.

Eagle Mountain Mining Limited is pleased to announce that it is to undertake a partially underwritten, renounceable entitlement issue of two (2) new fully paid ordinary shares for every one (1) existing share held by Eligible Shareholders at an issue price of A$0.008 per New Share. plus oppies

back trading , backpaddling
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the SP of Eagle has landed around the offer price.. and a revised closing date for the Offer is now Friday 07 February 2025, "allowing sufficient time for all eligible shareholders to participate."
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Trav. said:
EM2 going strong and with copper doing well you really can't go wrong here.
Click to expand...
IPO in 2018, post ⬆️ was from 2020 . Good for a while but..

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.. looks like too high a mountain to climb. Never soared like an eagle.

and pulling stumps

The Company wishes to advise that the Managing Director, Charlie Bass, has communicated his desire to step down from the Board and retire from active involvement in the coming months. Charlie has been involved with the Company and its affiliated subsidiaries since 2011 and was instrumental in identifying, acquiring and exploring the Silver Mountain Project privately until the Company’s IPO in 2018. He has been the largest shareholder of the Company since our ASX listing and the Board wishes to express its gratitude for Charlie’s unwavering support through his time commitment, participation to numerous capital raises and provision of funding facilities through the years. Charlie’s expertise, passion and drive will be sorely missed but the Company is looking forward to continuing a fruitful relationship with Mr Bass in his ongoing role as major shareholder.

... no harbourside mansion, I guess
.
..and a likely overhang of shares for a while
 
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