I know more about my investment in ECR than you do as you don't hold and so you will not have spoken to Paul Johnson and why would you?
I know what ECR are building up to without being what you call 'a know all' as I simply research and use simple communication skills that have me in contact with Paul, Stephen and Patric at TGR as I hold their too and use what they call an email perhaps you've heard of it?
I'll have plenty to say in defending my investment from the drivel you post and you haven't answered my question from last night have you, but rather skip around the facts.
You can have my attention that you crave for as I noticed that earlier in the week you couldn't respond for a few days as I know you got a ban which is the second in recent weeks so take advantage of the time you have on here.
I have never ramped but laid down facts and potential that ECR has and if you can find a ramp within my short posting history here I'd be happy for you to highlight it.
As for the obvious cash call for SLM what do want a badge for stating what all exploration company's will need to do to take their business forward unlike your old ECR BOD.
Also, your presumptuous about the cash burn for ECR so why don't you call Mr Johnson to explain it to you.
I find it weird and hard to comprehend your time spent posting on ECR when you don't have any shares as it's an blatant obsession that's quite disturbing and as you said before " it's like a book I can't put down " my response is "why keep re reading a book you don't enjoy and you don't rate the author"
Now Mr Webb as your surname suggests one feels you may get tangled up in your own web that you spin.
Roll on that SLM news that will make you eat your own words about it.
Today for proof, I can provide, El abra results and resource measurement. Slm new target results, 300k 0z at itogen, a $2.4bil+ Definitive feasibility study, sample results from Andrews of which I own min 15% circa, and give me a couple more months, MGA's books. What's my company worth, Would I be selling it expensive for £15mil or am I selling it cheap?
You do have a point also on how a placing would work at this level. For sure. I just don't see anything placing of any note about to happen yet. Not at this level. If the sp was 1p tomorrow, I'd ring them myself and tell them to consider it. I personally don't think it's an issue. IMO the worry of a placing that's going to have any impact is the last angle to drag the company down. For example, now the creditors have been satisfied at MGA, and the doca is happening, I.e it is literally a foregone conclusion we will have the deeds back there's no market saying it won't happen. The questions have been answered. Watch how the sp reacts when it's done and official. All it needs is a date. Bang, different company. No market can throw MGA's return into any doubt. The same should happen at slm and also itogen jorc. The 3D at itogen could be a nice surprise but agreed that could be wishful thinking. Just wanted to throw the point they will know it's a different ball game when MGA's back and it's hypothetically cash in the bank. PJ will put a public spin on the potential value once they have the deeds in hand. Only then can we truly know what it's worth, what we can get out of it now and then how we can use MGA for ECR's benefit. It's a great position to be in. MGA is free. There will be minimal costs will significant valued already attached. That I think will still increase again slightly. Be that what's owed to ECR or what MGA can claim. What does vex me is when the bod play down the significance of MGA. It's worth much more when released than any other asset jorcs or Themac bloody move on. All this and I think most people switch off to Themac being a $2.4bil+ project with like 3 year pay back to profit and a monster at Andrews untapped. Themac could prove to be an asset worth if not 100's then 10's of millions to ECR who hold a very very strong position in Themac at the minute. It's worth remember if ECR did buy there warrants today, they will own just over 26%circa. With Themac at 4c a share, tell who's a take over target? I'd say all three are if you have the money. There's a hell of a lot on offer here. We are actually talking 100's of millions and if not were talking billions. There's no arguing that really. It's all there.
Once MGA returns home, ECR is no long a nothing Market cap. It becomes to separate companies. One of which will certainly carry a market cap above our own. ECR can sell MGA IMO on a quick deal with all MGA has, retain there £3+ figure owed (which once released ECR will start looking into how much they can claim) for ease easy £5mil. Anyone would buy it for £5mil if they turn a profit in within the rights of the losses, it's free money to someone rich! That alone is worth a £15mil market cap to ECR. What junior miners with x2 min. Good projects in the pipe line has £5mil sitting in the bank.
Q4 for a placing at best, with MGA over the line I stand by any placing of note will be over 0.62p and certainly not below today's level worst ways, but I really can't see it. The problem is like you say, there are so many options available even today, when MGA returns doors start to open. Best to be positioned before. I'm happy to run the risk of dilution while I can still buy shares cheap. I never intended to be in ECR so long, but while it's here I'm going all out myself looking to take full advantage. I'm amazed we've had this long to accumulate and buy stock for nothing. I trust the bod in what they say they are trying to do, I do still doubt how much they as individuals have what it takes. I have ECR noted mentally as 9-12 months behind schedule. But if it means that before MGA August 2013 we barely survived as a company and we have delayed/dragged our feet from doing to much, to wait for MGA........ Breath! Now we get MGA back, we have £200k in the bank, no debt, itogen drilling and a massive area about to come under investigation, slm back from the dead and looking like the man who raises at Easter, and I can still buy shares for a quarter of a penny, but risk if a silly placing is done I may loss some for a bit, like I say, I'm buzzing I have the opportunity to take that risk and buy here. I'm invested for 2 reasons. Potential and price.
Hope some of this has made sense! Lol enjoy the Saturday all ! Ready to watch some golf :)
Don't get me wrong, a placing could happen at this level and no one wants that. It could have been done countless times over 0.50p. But if it's needed to get something into production, I'll vote yes myself. The last placing was 13months ago now. So in probability and historically ECR were pretty much due a placing 12 months ago, 11 months ago and so on. Hasn't happened for over a year. It's a different company with different directors with different ideas. ECR will need money from somewhere. But this time ECR will be needing money to advance projects. Not to get out of trouble. With no debt and gold being found at 2 different sites, ECR's a decent company to lend money too. There's a lot worse out there that manage it. When they get the sp to 1p over each 100 mil placed raises £1mil @1p. With £1.5mil circa, ECR covered debts, the earn in to itogen, the EP, the re-opening, sampling and drilling at slm, gold grades returned, historical data reviewed and now have what appear to be exciting prospects of production. At itogen, same batch of money, drills covered, EP signed, sample results over the existing known strike and a completely 'new' part of the project 'never before seen'. 3d mapping of the entire area under way, sample results of the entire area underway, a heads up that the mineralisation expands outside the itogen boundary and through tiger, first dibs, review of all existing data at itogen, and feasibility costs (minor anyways) covered. They also paid all debts, zero'd the company and covered running costs for what now been over a year and estimated 5-6 months running costs covered. The survival of ECR on those placings meaning we get to be alive WHEN MGA is released and released with an significant amount of tax savings (someone is finding a use). It also meant we got to keep our Themac holding (but choose to sell some off) and strengthen our position financially so we could use the power of our vote at Themac, I'd say that was considerable value to ECR and it's shareholders. Yes, the sp is IMO currently some way off where it should be, but with a bad history, ECR can't expect to be like say rem, who will be valued somewhat to the potential they are close too. So until the next round and things are over the line, ECR's share price has struggled to flourish. With that said, once 1 of our 4 hopes pulls off, the way people look at ECR will change instantaneously. Then and only then, unfortunately will the sp not reflect any of the potential. I give Squiff this side, in that to a degree, they are salesmen, but all business men should be. Once 1 item is over the line, expect the potential the company has as a whole to get valued on that potential. That in itself is why you buy low, the higher the risk, the bigger your reward will be. The same goes for even. Once they get something over the line, raising money without the need to borrow is a very powerful position....... Tbc
Proving up mineable gold at slm or any project in fact also adds the option of a loan against the project with charges over the land or project as insurance. There are also J.V and farm in options where the cost comes out if ECR's hands giving away a percentage, much like the itogen deal. Do ECR come up with a deal like they did at itogen but fail to do anything similar for slm? We got itogen so tiger didn't have to keep spending on it. What's to say we won't do the same at slm? Placing could easily be a positive. So for posters to suggest it would only kill an sp, isn't giving a true reflection of how it may effect it. It's just an angle to put investors off which is fine, but that angle has another side to the coin. That's a positive sp outcome. Imagine the difference. ECR raise £1mil @ 0.20p 500mil shares to pay debt. Sp crash. ECR raise £1mil @ 0.20p 500mjl shares for capital to get slm into production within say 3 months of placing date, maybe a small fall back, but before you know it, ECR is on the verge of going from explorer to gold producer. Sp's end up in two completely different directions. If the later, I'd expect a pretty big rise and the placing to be gobbled up. Having said all that, no placing of any note will happen anywhere near this level. Any placing will be after MGA is released. Itogen drills covered and as far as I know slm is covered till a jorc is set up. Feel free to ask the bod.
After the last placing at 0.3175p or there abouts slm opening back up was announced. It was clear then at some point ECR would need more money. As an exploration company ECR will always need money till they turn a profit. It's likely they will need to raise money to enter a new project, one of which is at an advanced stage in terms of making a deal. MGA will be wrapped up within 3 months on the safe side. That in itself will propel the so. So a Placing will be much higher. For now, the drilling at itogen is covered. Drilling the next part of slm should also be covered as we have seen, directors will take shares for payment. So maybe 20-30mil dillution there. That's the only placing that could happen under 0.3175p IMO. We have Themac although unless Themac has a zero on the end of it's sp, I don't see ECR selling any further shares. Nothing of major interest anyways. Like you say, a placing isn't the only way ECR can raise money. If you look at the last YA deal, if the sp had performed that would actually have been a sweet deal for ECR. However, they screwed that one up and some. Loans and draw downs are readily availible to mining companies who have a strike. Let's say ECR are going to need a further £2mil to get slm drilled make 1 or 2 mineable finds and take it to production. At an sp level of 0.65p ( I'm using this number as I think any major placing will be done close to this level if not already agreed in principle) than we are talking just over 300mil shares added. So about 8% dillution. ECR raising money to advance a project to production would add value to the market cap and also change ECR from explorer to gold producer. Any dillution in that case is gobbled up by the increased market cap. So again, if done right can only be a positive. Itogen will not be sold to find slm. If anything, it will be the other way round. If a big placing or placings come it will be for a new project/a. Be it ECR find one for ECR and then one for MGA. However, as seen with itogen, a placing to find a good project can have a positive impact again, dependant on the project. MGA being released opens other doors in terms of raising funds. There are so many options availible and no doubt this is why PJ is at the helm. This is his specialist department. I've full faith that any deals will be favourable. I'm not worried about a placing as money does need to be raised. Raising money to pay debt by increasing shares will kill an sp. Any money ECR raise now 90% goes into the ground, so this is a positive cash raise. There's always Themac. The new signing of the director shows they are close to completing all the environmental and water rights needed. That's the bigger signal yet they are heading to production. Themac announce this, ECR's shares will start carrying massive value. So selling of shares at a high price is also another means of funding. I'm all for ECR raising cash, the right way and at the right price or
I am of the opinion that there are 2 (TWO) trains of thought regarding a possible placement, and as a result some folks are crossing their wires. 1. On the positive side we have the acceptance that monies will be required to either/or get to a productive point/gain the licence and then sell off, or 2. The negative which is to dilute current holdings. At the end of the day an awful lot will depend on what the SP will be at and the size of a placement declared. Also, if any money that is raised is to be used to get us to production, wouldn't it make more sense to acquire some sort of loan ?? For every 100000 shares held today at 0.26p (£260) then as someone has posted, a placing price would be around the 0.20p therefor hurting the investor twice - firstly by reducing his worth to £200 and secondly, reducing the returns because of the extra number of shares in issue. To me, and yes its only my opinion, I would rather the Company look at all other options available to them to raise capital instead of just rolling out another placing. And lets not forget that unless we get to production with any funds secured, there will always be a danger of further placements down the line.
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