At first, the presence of two US funds on the share register of Emmerson Resources at the time of the gold explorer's listing late last year seemed like a good idea. But the forced redemptions of the two funds during the turmoil of recent months have been blamed for the dramatic pullback in the explorer's share price.

Emmerson is hunting for gold on the former landholdings of now defunct goldminer Giants Reef, hoping different exploration techniques will unearth more of the high-grade gold mineralisation for which the area is noted.