Working hard on the ramp & deramp side today...Battle of the ego's? I see some posters are trying to save us from ourselves.....that 's nice !!!
Personally i am trying not to look at the BB too often as everyone here has an agenda (they want the price , up or down) and the usual silly season (and abuse) has broken out in a moving share. I am happy with my investment and confident that the SP will be in a better place in a month's time.
I the spirit of the childish behaviour today can I just add that "You all smell of wee !!!!" (LOL ;-)
so there is actually some ECR related content to be read instead of mudslinging....
it should be painfully obvious that there is some quick £££ to be made by getting in now for the news RE: MGA on the 15th given that ECR have been waiting 5 years for it to be released and countless people have said it holds significant value for ECR.
LET US NOT FORGET.... the actual reason people should INVEST here is for the Itogen gold project which is expected to yield 1,000,000 ozs of gold with very low extraction costs.
1,000,000 ozs @ $1,320 per oz with extraction costs (based on neighboring gold mines) at $350 per oz,leaving approx $1,000 gross profit an oz.
50% of 1,000,000 = 500,000 oz for ECR = $500,000,000 over the 10 year life of the mine. so $50,000,000 gross per annum when production is reached. net profit may be half this figure due to Philippine mining tax, I don't know exactly but that leaves $25,000,000 net profit per annum OR £14.57m at current exchange rate (£ is currently very strong)
our market cap is £8m currently. Itogon may well yield in excess of £14.57m net profit per annum for the duration of the mine (10 years)
MGA+ ITOGON +THEMAC + SLM...all for £8m.
Whilst currently ECR's asset valuation supports its current market price with the balance sheet gap being due to anticipated returns, it still looks like ECR is a bargain at its current price.
for those unaware of SLM and THEMAC. SLM is a wholly owned piece of land which significant grades of near surface gold which whilst not an enormous reserve SHOULD yield near term mining and a cash flow to support operations elsewhere.
THEMAC is a long term investment, ECR owns a significant minority share in the company which owns a huge copper flats mine which also has a potential gold reserve. Copper is currently increasing in value as previously mentioned.
As always, do your own research and invest what you can afford to lose, but at these levels, ECR is as safer bet as you are gonna get on AIM with sigificant upside in the short/medium/long term
whilst i`m finding the debate/banter interesting and i`m enjoying reading the differing opinions and reasoning, and i think its healthy that people should feel strongly about their investments or lack of because in many cases there is life changing money involved, i draw the line at out and out insults .... not good form squiff. if you cant read the BB without getting wound up by the people who are ... well, goading you... i think you need to quit reading it or start using the filter button more :P probably do your blood pressure some good.
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