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ECR Minerals Share Chat (ECR)



Share Price: 0.245Bid: 0.23Ask: 0.26Change: -0.015 (-5.77%)Faller - Ecr Minerals
Spread: 0.03Spread as %: 13.04%Open: 0.275High: 0.28Low: 0.24Yesterday’s Close: 0.26


Share Discussion for Ecr Minerals (ECR)


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squiff
Posts: 8,947
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Opinion:No Opinion
Price:0.25
pdub
18 Jul '14
sorry.. twitchy finger... didnt mean to hit post button..
I was going to say that the "evidence" was provided by holders on here saying they had spoken to PJ and LG asking if he was "doing the rounds"... kind of sounds to me that it is a very regular thing (in fact I know it is, cos used to speak with SC in same context)

feel free to think what you like, but prob best you just accept the probable outcomes, and not focus on my reason for pointing it out to you !!!

I am STILL interested in ECR for Itogon ... thats all I am waiting for... and may buy in AFTER sdlm is put to bed, and placing is gone.... maybe then ill see it as an opportunity .....or not....
 
seaace
Posts: 811
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Opinion:No Opinion
Price:0.25
LG
18 Jul '14
As in most cases, a placing S/P is dictated by the VWAP over a certain period. Therefore I will be on the lookout for news that can give the current price a decent boost, especially if the Company in not producing monies in any of their ventures.
squiff
Posts: 8,947
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Opinion:No Opinion
Price:0.25
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pdub
18 Jul '14
uhh.. no..

thats how it works.

nothing wrong with a BOD member doing a sales number.... as long as the rules of disclosure arent broken he/she is free to sound upbeat...

so its not a case of "making an accusation" it a case of identifying whats going on !!!
squiff
Posts: 8,947
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Opinion:No Opinion
Price:0.25
nightyard
18 Jul '14
seems in the 15 minutes of interruptions it took me to write that post, you have concluded the same thing...

its not the end of the world that a placing is likely... in fact its essential to keep the momentum...

best to be prepared for it though, and time your buys right. I think if you really believe its a possibility very soon, (as most with any sense should) then you could be saving yourself 10-15%, as any placing around now will be 0.2p ish at best...
its clear to me that the recent flurry of news drops hasnt had the effect the board (i think) were hoping for... ie a rise to 0.3-0.4p.... so they could raise cash from a higher point..but as that hasnt worked, they will face the inevitable I think...
I reckon any competent mm will know that, and wont want huge chunks of stock... just sufficient to meet obligation to market....

atb & gla
Pdub
Posts: 738
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Opinion:No Opinion
Price:0.25
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RE: LG 14:52
18 Jul '14
Wow Squiff that's a pretty big assumption to make even by your standards. Let's wait and see.

When you say "they they make excellent salesmen, and tell you all the fluffy bits to get the boards pumped up, and before you know it, the placing rug will be whipped from under your feet..." are you making a specific charge against PJ or just trying to spread fear in investors? Do you have any evidence whatsoever that this is what ECR are doing?
squiff
Posts: 8,947
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Opinion:No Opinion
Price:0.25
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LG 14:52
18 Jul '14
interesting..

Personally I would be a little concerned if the chairman is "doing the rounds" of specific investors, and spreading "good news"

to me it translates that, whilst the news is probably genuinely good (especially it is itogon) there is the likelihood of a placing coming...

they make excellent salesmen, and tell you all the fluffy bits to get the boards pumped up, and before you know it, the placing rug will be whipped from under your feet...

my guess is, that sdlm is still marginal, and if I HAD to place a bet, would say that they need more cash to really be sure, and poss need to do more drilling etc before they can finally conclude it is economically viable....

tax news is not imho going to be setting the stock alight for some time....

I reckon cash must be down to £100-£250k... which could be gone in a heartbeat with a few more holes at sdlm..
still way off from revenue....

so unless they sell off itogon once its proved up, (for poss MGA use) they must be looking at cash call soon.
and if they dont sell it, they ill need an even bigger cash call to progress it....
Pdub
Posts: 738
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Opinion:No Opinion
Price:0.25
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RE: nightyard
18 Jul '14
I suggest you ring PJ and voice your genuine concerns. He is very responsive to shareholders and may be able to answer your questions. And to be fair it was you who who posted that you were looking for a cheap buy? Can't blame people for taking note of what you post. Pdub.
nightyard
Posts: 402
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Price:0.25
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RE: nightyard
18 Jul '14
its got nothing to do with my buy in, I got £30k sat in here already thanks very much.
from what I can see, at the rate of cash burn they currently have, ECR will be out of cash by September/October
it appears they use £100k a month.
on that basis ECR may have £250-300k left at this moment in time.
Pdub
Posts: 738
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Opinion:No Opinion
Price:0.25
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RE: nightyard
18 Jul '14
Nightyard. Try reading RNS Half Yearly Report if you are really interested. That gives the figure for 31.03.14. I doubt anyone can give you a more up to date figure than that. Company is running with low cash burn and haven't they said that can be further reduced if necessary? I note you did not get your 0.22 buy in, still looking?
nightyard
Posts: 402
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Opinion:No Opinion
Price:0.25
View Thread (5)
RE: nightyard
18 Jul '14
its a very valid question that needs answering.
bury your head in the sand if you like HOMER but its something I'd like to know about.



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