Of course, the other possibility is that the billions of pounds worth of contracts kept on hold for the EU referendum could suddenly get the green light and.... BOOM! Market recovery. Nevermind. Life goes on. Trouble is I voted leave. The wife almost blames me! She says I got what I wanted and the country is in meltdown. Yeah sorry everyone! Apparently its my fault....
One word for this share right now. OPPORTUNITY!!!! Think about it. Economic assessment coming up literally in weeks. Other news due who knows? However.... We know a prelim economic assessment is done so it is at the 'firming up' stage. And what better time? Gold price at an all time high. Potentially brexit could drive gold prices up further?! Who knows. There's enough idiots out there moving money around to give gold the spur it needs. This is called TIMING!! Amazing how this situation has been artificially created. All the scaremongering on brexit has led to an immediately disproportionate reaction in the markets. And its like nuclear fission. It grows and grows. As more people panic seeing their share value disappear, they jump on the band wagon. And guess what? We have 2 whole years before we leave the EU!! Possible recession on the cards? Who knows. Either the overreaction will be a short term burst after which realisation will set in. Profit will be taken and then... Business as usual. Or do stocks get way oversold to the point that investors lose confidence and we sit stuck in the mud for the foreseeable future? Amazing how maths is such a logical tool. Yet financial markets, based on mathematical models are driven by the masses fuelled with emotion. Come on SC. Where's that report!!! GOLDEN opportunity. Quite literally :)
If they get funding. There will be no change until then so no point in keep saying this is cheap due to the mcap - without funding this remains rooted to where we are now if not lower.
Agreed with funding - no YA - game changer. But until we get the rns that confirms that - you will continue to get stick for posting like its a dead cert and the one's on the other side of the fence will continue to get tarnished with being doom merchants.
Lets all agree we need funding and then we can all be a little more optimistic - until then this could go either way.
When finance and everything is in place we will be told. This is a golden opportunity to buy this low with the long term looking very positive for the company. Not going to keep repeating myself because it is all there to see.
It's good to discuss the negatives, finance, which we all know about and are waiting to hear from the company their plans in this area. It's also good to discuss the positives. Doubt there are many gold companies out there that could be earning £900+ per ounce. ECR could with the right moves and looking forward to hearing what information Craig Brown provides with the economic study.
The current Aus gold price of $1764 is the equivalent to around £960. The great bonus for ECR is the $66 million tax loss so with the right moves any income from Avoca and Bailieston could be pure profit.
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