The Eagle Mountain Mining Ltd (ASX: EM2) share price is dipping today after the company posted its Investor Presentation Sydney Resources Round-Up.
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The Eagle Mountain Mining Ltd (ASX: EM2) share price is dipping today after the company posted an investor presentation. At the time of writing, Eagle Mountain shares are down 3.86% to $1.12 per share.
Eagle Mountain is engaged in the exploration and evaluation of copper, gold, silver, and porphyry copper deposits. Its project portfolios include Silver Mountain and Oracle Ridge across Australia and the United States.
The Eagle Mountain share price is failing to respond despite the company honing in on two of its most recent updates. It has moved to 100% ownership of its Oracle Ridge mine after strong recent results in the region sent the Eagle Mountain share price rocketing 12%. The company also revealed its plans to increase its mining operation drilling rates three-fold over the coming quarter.
Eagle Mountain is currently working along four kilometres of mapped and sampled mineralisation in its Leatherwood contact, as part of the Oracle Ridge mine. The company was also bullish about its prospects for the next quarter, saying it has “good credentials to potentially be a low emission mining operation”.
It has an existing underground mine with 18 kilometres of development and extensive local infrastructure within a tier-one mining jurisdiction of Arizona in the US. The release noted that Arizona was recently named the second-most lucrative mining region in the world in investment attractiveness.
The company also reported strong drilling results since September 2020. It’s raised $11 million since February 2021 to fund its drilling operations during 2021, with the company expecting to leverage record high copper prices over the coming months. The copper price is now more than double what it was in January 2020.
Eagle Mountain share price snapshot
Including today, the Eagle Mountain share price has now been tumbling for three days. These losses have, however, been partially mitigated by the company’s huge gains recently. It’s still up almost 11% over the past week and around 65% over the past month.
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Motley Fool contributor Lucas Radbourne-Pugh has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.