For Londoners and historians, 1698 may be recognised as the year the Palace of Whitehall — the primary residence for English monarchs — went up in flames.
For investors, 1698 marked the birth of the London Stock Exchange (LSE), where a list of currency, stock, and commodity prices was published by John Castaing at Jonathan’s Coffee House.
Since its inception, the LSE has evolved significantly, introducing sub-markets such as the growing Alternative Investment Market (AIM).
Launched in 1995, AIM is a product of the LSE designed to help smaller, growing companies raise public capital with fewer regulatory requirements than the main market.
AIM has raised more than £140 billion ($269.86 billion) in capital via initial public offerings since opening, recording an average 40% of revenue growth in the first three years after listing.
Companies listed on AIM hold an average market capitalisation of £70.6 million.
One company that exceeds this average is Empire Metals (AIM:EEE). As of 7 July, Empire Metals has a market capitalisation of £287.87 million, trading shares at £0.385 and 1.18 million shares on issue.
In addition to its appearance on AIM, Empire Metals is listed on OTC Markets, under the ticker ‘EPMLF’.
Recently, Mining.com.au reported that Empire is creating an “avalanche of activity” for its Pitfield Titanium Project in Western Australia, with engineering studies and a review of capital and operating costs set to take place shortly.
The company delivered a maiden resource for the project in October last year, containing 2.2 billion tonnes @ 5.1% titanium dioxide for 113 million tonnes.
Empire Metals is an explorer and resource developer focused on commercialising the Pitfield Titanium Project in Western Australia.
Write to Maddison Elliott at Mining.com.au
Images: Unsplash
