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Some nice shiny bits in there
Given it looks like they've basically used a digger, can we assume that's come at shallow depth?
Https://www.youtube.com/watch?v=IKpjUKCx25A
Blue Mountain about to be in play???
Is the question :-)
There was 85k in cash left at the end of the FY, just before Mike and Nick stepped in. Basically Haythorpe left us for dead before fleeing. On a positive note, a nice 3.5m buy went through after close.
Yea, should be a LOT better moving forward.. had N/M not stepped in and taken the bag of sweets away we’d have joined the AIM graveyard by now I reckon!!
And we know all but AJ's salaries will be wiped off of that amount as they are paid in shares (AJ now not being on the board will presumably be paid a salary).
Total staff costs for 2023 was - £327,661
And yes, the total cost of all directors at the end of the accountancy period (so not including Haythorpe) looks to be - £203,294
So can we presume the 'difference' is AH's pay (circa £125k)? It doesn't look to be specifically referenced on a quick glance of the wages section.
Any accountants want to step in while things are quiet - https://polaris.brighterir.com/public/ecr_minerals_plc/news/rns/story/ry7v13r
Do we know how much of that £327,661 was Haythorpe's salary, I would have a guess at £100k. This being the case and Mike and Nick taking shares in lieu of salary that figure should have halved.
While bullish, it's not lost on me that staff pay in 2023 was £327,661, IE well over half the recent raise just on wages, emoluments, Social security costs & Pension contributions.. This is why I want to see progress made quickly. I understand steps have been made to help mitigate staff cost but I'd like as much $ spent prospecting and drilling as possible rather than see it whittle away on pay packets! This is where timing and efficiency comes in.. The faster and more efficient this new team is, the better bang for buck they are. Sorry to say this but the past half decade or so has been the ultimate snouts in troughs exercise. I'm hoping Mike and Nick picked up on this and now want to kick the Co into shape, at least that's what we're all hoping for! I do question why some staff are still on payroll, any members of the gravy train era need to now prove their value or be voted out IMO. Sorry but let's get serious for a minute (in the voice of Tom Hanks in 'Sully').
Over to you ECR! Get a bloody JV signed and shut all the 'Debbie Downers' up for good (eh Ti)! Hell, if we can stabilize above a penny I think PI's may even accept the odd consultancy fee!! And that's saying something!
GLA
JV next hopefully with the JV partner taking on the bulk of the costs. Fingers crossed.
And they had previously stated that they were covered for all 2024 G&A....
So between the two statements they are fully covered for costs planned for 2024.
The scenario that would require the raising of extra funds would be if they took on new license/project during the year.
Careful with the wording. The placing RNS states... "We are now fully funded for our 2024 exploration programme".
There is a distinct difference between fully funded and fully funded for the 2024 exploration programme.
Now the company is fully funded for rest of they ear there isn't really downside from this crazy valuation
Especially with Gold at all time highs and further drilling campaigns to come
There's enough potential to get to 1p this year, without the tax losses or JV. Bonkers to think that 1p is only a £18m mcap.
About to see an explosion of significant news that will send this shareprice back towards 1p
Mike alluded to further news following the KH results. We know that in the interview from the 26/3 they were already bulk sampling, that's 3 weeks ago but I got the impression that it was well underway.
Yep, it's the right one!
https://emxroyalty.com/asset-portfolio/australia/overview/
Strong support here at 0.3p and higher low
Should really take off this week
In dem hills
30595 share purchase. Heading towards the 12 million total! I was going to stop at 10 mill, but hey, I have high hopes here :)
£94? :)
Done my usual small buy to start the day with :)
It needs to hold 0.29, again. Keep both feet inside 0.30 and there is a chance of 0.45 by the end of May, can't see the 0.60 Zak Mir is shouting about unless big news drops.
For tomorrow, hoping for 1p way before end of year hopefully!
Got a banging headache so not sure on EMX website info in previous post, hope it's the right one, but DYOR as they say anyway. Will check again when headache has cleared!