In a statement the firm said, “Funds raised by this placement will be used to pursue farmout opportunities in respect of some of the company’s exploration obligations and supplement the working capital in the company’s Carnarvon and Perth Basin projects.”
Empire is hoping to raise $520,000 and this will be used to fund seismic pre-planning operations in the Perth Basin and seismic mapping & reprocessing and detailed geochemical surveys costs at the Carnarvon basin.
