Emperor Energy extends completion date for Great Caesar mining leases acquisition

Emperor Energy Limited (ASX: $EMP) has extended the completion date for the acquisition of the Great Caesar Mining Leases till 31st May 2024. The mining leases, spanning a total area of 128 Hectares, are situated between Townsville and Charters Towers City in North Queensland, Australia.

Emperor Energy's outlook on the acquisition extension

Emperor Energy intends to complete the acquisition of the Mining Leases and proceed with an exploration program in the second half of 2024 to establish a JORC compliant resource. The company sees this project as an opportunity to generate early cash flow through contracted open pit mining and processing while continuing its flagship Judith Gas Field Project in the offshore Gippsland Basin, Victoria.

Summary of Emperor Energy's acquisition extension

Emperor Energy (ASX: $EMP) has extended the completion date for the acquisition of the Great Caesar Mining Leases to 31st May 2024. The company aims to finalize the analysis of positive soil testing and rock sampling results for market release. The extension allows time to complete the mining lease transfer approval process with the Queensland Government Department of Resources and secure exploration program approval. Emperor Energy plans to conduct an exploration program in the second half of 2024 to establish a JORC compliant resource, potentially leading to early cash flow through open pit mining and processing alongside its Judith Gas Field Project in the offshore Gippsland Basin, Victoria.