disposal enough to secure "profits" for MGA big enough to make much use of the tax losses? Superficially, it looks as if the BOD have played a blinder with this credit agreement getting a credit facility where the lender appears to be tied up in knots unable to parasitically wreck its host and I applaud that. I suppose the BOD really believe there is value to be realised at either / or SLM, Itogon of via the MGA tax losses though, of course, the bottom line is they needed funding to continue doing ANYTHING ..... SLM was up for sale ... there were no takers but one presumes the BOD believes the new drilling and testing there is adding value to what wouldn't sell earlier and makes business sense either in terms of selling SLM on or small scale production ..... it's a shame ECR doesn't have enough dosh to capitalise on the MGR tax losses without giving a piece of the action to YA but I presume the BOD thought this was the best deal they could do. It'll be interesting to see what RNS follow in the coming weeks or even days .... if they were going to announce real progress, they would avoid questions about funding by an RNS like the one they put out today ... so we know they have access to dosh ..... in a few hours, they may tell use how they're going to make that credit facility generate profit .... fascinating ... GLA
What I like apart from the fact the BOD encourage shareholder dialog is that we know they can't say anything specific but then you can take the official RNS further with speculation and thats healthy to be one step ahead and to buy at the right time.
Without todays RNS .20 may of been breached quickly however they'll be no news now for a least 2 weeks and that may be tested next week but I feel the REAL genuine holders will be topping up so .22 may be the price for the next 10 trading days.
The $10m could of been done later as it's not needed for SLM and Itogon may be a few weeks away for drilling so why today and why the immediate $1.3m?
Crusher payment $100k -$200k for post MGA news is the only reason plus other equipment that picks up a mine that's a distressed sale or just abandoned which they are about to buy with a partner.
There is a timeline to next news which is in previous RNS
I can't wait to here what they are doing with the $10m . That's a very large sum, they must have something big they are about to announce following MGA I guess. Add that to the excellent Gold grades at Itogen and SLM it won't be long before the market wakes up to the fact that something is happening here and that they won't want to miss out. If it's a working mine (speculative I know) then ECR could be earning sooner than we thought. Exciting times ahead. GLA
by the results that Ecr have had for both projects & now having easy enough funding in place for the coming months/yr, also still the what many are thinking will be the big news i.e. MGA then Ecr still being at this low level. Must be looking to some, one of the best buys around.
No offence, but who is going to sell at say .225p and buy at .22p. So no, it's not a week sell. It's all falling into place now, so you are risking getting in much lower than where we are now in my opinion. BWDIK, GLA whatever you decide.
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