Eastern Metals Limited (ASX:EMS)
Eastern Metals Limited (ASX:EMS) is base and precious metals exploration company with an ability to identify advanced exploration projects with resource or near resource status and clear potential to increase the resource base through well targeted exploration, which can be acquired on favourable terms.
The Company's strategy is to grow a resource, take the project through the permitting and approvals process, complete preliminary and bankable feasibility studies, arrange development finance, and in so doing add value and de-risk the project. Having done that, returns to shareholders will be delivered either by developing the project, alone or in JV, or by divesting the project at a premium.
Eastern Metals has recently acquired two new projects, the Arunta Project at Barrow Creek in the Northern Territory, and the Browns Reef deposit that forms part of the Company's Cobar Project in New South Wales.
The Company's third asset, the Thomson Project, is a different to the other two in that it does not have resource or near-resource status, but there are well defined targets for drill testing that dont require significant investment because much of that work has already been done by other parties.