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Good morning, ladies and gentlemen. Welcome to the 2024 Annual General Meeting of ECR Minerals plc.
Firstly, my thanks and appreciation to David Tang, our former chairman. It was an honour to take over from him in February and I thank him for the work he's done for ECR.
Since Mike and I joined the company in September last year, it's been pleasing to see a significant acceleration in the pace of operations alongside more stringent financial controls.
I'd like firstly to take this opportunity to provide shareholders with an update on our exploration plans in Australia across our projects in Queensland and Victoria.
With improving weather conditions, our field teams are preparing to return to Lolworth in Queensland. Initial assessments have revealed numerous gold-bearing streams as well as indications of rare earths mineralisation. The best indicators appear to be at our Oak Creek prospect.
Our upcoming trenching campaign aims to provide us with a better understanding of the subsurface geology which will be a key step towards identifying and then ranking drill targets. We remain optimistic about the potential for significant mineralisation at Lolworth.
Also in Queensland, our Chief Geologist is preparing for ECR's inaugural exploration campaign at Blue Mountain. Our preliminary analysis suggests that the historical work conducted by the previous operator presents compelling opportunities - especially for its alluvial gold potential. It currently includes an alluvial resource reported to contain at least 100,000 ounces. Subject to the necessary permissions, we're looking forward to advancing the project potentially towards production-readiness. Encouragingly, the landowners have expressed their willingness to work with us on the project which has further increased our confidence that the project could well exceed our initial expectations.
In Victoria, building upon the success of our recent drill campaign at Creswick, we have now re-established contact with the landowners at Tambo where we expect to deploy our team in the coming weeks. Rock samples taken from the project back in 2022 yielded highly encouraging results of up to 22 g/t, and we'll be looking to undertake a brief follow-up work programme before identifying optimal sites for drilling in due course.
Investors will be aware that last month we raised £585,000 - notably at a 71% premium to our last raise 6 months ago when Mike and I first joined ECR. That brings the total capital raised during our time with the company to £1.16 million. Along with the existing directors' salary sacrifice arrangements, as well as Mike and I accepting shares in lieu of salary, we are well funded and have the necessary working capital to undertake our upcoming work programs in both Queensland and Victoria.
I'm very much looking forward to keeping our shareholders up to date on what we expect to be exciting developments over the coming
We saw the same between 0.19 - 0.25 for a few months before the range broke and the same will happen here. There's too much news in the pipe to risk being out. It's interesting they used the work "collaboration" in the TMS Q&A. Dare I say that, could this end up being a JV in time? They're obviously keen.
On the downswings of the yo-yo....... they will run out of string in the end....
In touching distance of 12 mill shares :)
They need to break this constant cycle of trading which has been constant since August. My last post was a bit premature, yet again the bid is being battered on low volume. Rumour has it that it's some well known "holders".
Dangling the carrot of potential production at Blue Mountain... landowner willing to work with ECR... price of gold sky high.. simple alluvial system so sift through the earth for those nuggets we saw....$$$
Another potential source of revenue
Would they do a trial run? what sort of scale initially? Is the gold predominantly in nugget form? Looks like it is. Looks like cash in the ground.... hmmmm !
Hopefully things get moving this week, been rather stagnant since the raise! Intrigued to hear upcoming Blue Mountain updates and how they are planning on spending the raised cash!
The TMS Team catch up with ECR Minerals Chairman Nick Tulloch and discuss current operations, the recent share placement and Blue Mountain.
https://total-market-solutions.com/2024/04/ecr-minerals-plc-4/
…..what we need is a catalyst to kick it all off…… in the last RNS we’re the words “very soon” used were they not?…..😉
A good summary BH. We may be treading water around .30 but the fact that it's holding during low volumes is significant imo. Since August we have seen large sells hit the bid to take it down to create a trade, that seems to have stopped which suggests traders are not willing to take the risk.
They can definitely get this to £20 Mill MCap .... and that is the plan with all the 'payment in shares' and putting the money into the ground.
It's going to be a busy Spring-into-Summer with so much news in the pipeline from exploration, cash in the back to do it, more potential cash from asset sales and the big, elusive game-changers of JV / Tax incentive deal.
The chances for some EXPLOSIVE action are very very high.
We've just been through a few weeks of 'post-placing' yo-yo around the 0.3p mark, but during that time to price of gold has rocketed. That alone should have nudged us up toward 0.4p... but the market is the market.
Going forward it could/should get very crazy, very fast. Lots of eyes on this. That's for certain!! GLA
Not sold a bean since getting in between 0.22 and 0.24. Had the opportunity to sell at 0.38/0.40 but I have a feeling this can go much higher and hit 20 mill mcap +.
Swazers ...the line touching the top of the upper channel at 4.4p is not valid, imo, has that was just an anomalous blip for the fundraise.
However we are still in an upward channel after Golden Cross..
Still looking very bullish..
But some of those charts that Zak draws are ludicrous! He often appears to just pick random channel lines
Tight-like! (Geordie accent)
Golden cross anyone...(Posh voice)
Soons. Just sub-placing for those in the mood xx
#ECR Is back at a key level, let's see if the market offers support. https://x.com/SwazersC/status/1781247502986965398 https://www.tradingview.com/x/TE1gfkaP/
Https://www.youtube.com/watch?v=oSxWdOalvcc
*So the share remuneration covered a longer period so was NOT a salary increase.
* Blue Mountain could be better than initially expected with potential for near term production (but needs to be proven so don't get ahead of ourselves).
* Re-Iterated good results at Creswick with wider breadth at Kuboid Hill
* Another Stockbox interview with 'more detail' coming next week with Doc (another update/results next week?)
You'll need to turn the Vol up.........! :()
https://www.youtube.com/watch?v=oSxWdOalvcc
All the best (Nick's mic ain't the best.........! :)
" according to the latest interviews"............! :)
there's one on the way look..........! :()
https://twitter.com/StockBoxMedia/status/1780964406425215352
All the best (an good luck........! :()
Agree TS but these guys can't be expected to work and not take something back for 12 months, not that are planning to yet according to the latest interviews.
Anyway, we're in a period of calm before the next storm. It's good to see that support is holding. AIM seems to be picking up with a fair bit of blue around over the last two weeks, expected this to be higher being the punters favourite.
Dan , Absolutely the vast majority of shareholders (if not all) are extremely happy that the BOD are aligned with shareholders.
However this will not be their only jobs/incomes so they are not going without any salaries to live on.
I'm still trying to figure out what Andrew Scott is bringing to the party. I can only assume it's industry contacts which may take on the Tax Credits (if he does that he is worth the money).....otherwise we are paying a shed load for a couple of interviews a month.
Now let's get the Blue Mountain potential / update/plan details and those Kuboid Hill results so we can push on.
You give up your salary for a year and let us know how you get one. A lot of investors wanted this.
You have a point. If they had agreed to not sell any shares for one year it would have been more convincing.
And they will sell these in any future rise suppressing the share price you can't win but they can let's not praise this to much they generally treat us as fools in this game
Talking Sense. Please provide proof of your comment where I said the sp would be below 0.2 .I never said anything of the sort .If you think a company sp is something to cheer about when it's around 0.3 , from being 4.4 over 3 years ago , I think the joke's on you . Lmao .
Still buying, nearly at 12 million :)