Red Emperor Resources NL (ASX:RMP) said it had a "particularly active" final quarter of 2016, in which it had made an offer to acquire a US-based exploration company. While the discussions were "very well advanced" on this potential offer, they did not result in a transaction, although Red Emperor said both parties "continue to engage with each other". It is also in separate negotiations with a potential strategic partner on both financing and asset participation, with its discussions continuing to focus on opportunities in the US.