ceasars top picks 2012 We expected so much more from Empire in 2011, as it was our number 1 pick.
Unfortunately the company had to put its Albanian chromite project on Care and
Maintenance, and is waiting for the correct exploration permits to be issued.
This obviously was a major setback (as we expected them to be cash"ow positive
by the end of 2011), and that’s why we only ranked them at the 20th place this year.
Empire Mining will probably raise additional capital early in 2012 to fund a Phase II
drill program at their Bursa copper project, which should lead to a NI43-compliant
resource estimate. We are also curious to hear more about the wollastonite on the
Demirtepe-zone as well.
+ The drill results from their Turkish property were better than we expected, and
the company hopes to expand the mineralized zones through a Phase II drill
program.
- Permitting issues in Albania, no near-term production, running low on cash.