I've said it before, having a hard working, honest BOD is one of the biggest pluses we can have. I really feel they will turn round this mess they were left, looking forward to the next few weeks/months :)
Hi all, I have just got to view the interview and have to say this looks to be one of the best investments I have made with unlimited upside. Iceberg the research you are providing is outstanding. Basketcase, it seems that Antonkett is getting the better of you. If you want to save face I suggest you buy lots more this week. ATB and GL to all invested.:-)
It seemed abundantly clear to my ears that funding is all but in place for the Itogon Gold Project, he was very confident when answering the funding issue, however be that an Institutional Investor and/or Tax Loss, etc, etc we will have to wait and see.
currently listening to it, for me the timing is interesting it was recorded on tuesday for specific publication this weekend.......which heavily hints at news this week. The flow of news in still very much controlled like a military campaign very deliberately imho. Alfista re the tax loss the australia HMRC has already ruled as to its uses and how ECR can dispose of it. So I am not too bothered about that. The DOCA from when mercator was released from admin will be important for disposal. Investors have a choice either investor now, investor after ECR has said that it has the tax asset from mercator for disposal, investor after the they release the news about a new big investor, or leave it and have another look in 6 months time. As you delay investing, risk goes down but the buy price goes up, so investing will depend upon what risk people want to take. one option to float would be for MCA's tax assets to be used in a transactional approach over say 3 years with a payment each year from the company that is using it. This makes sense for both ECR and the partner. i.e 1.5m down payment, then a % each year of the tax that been able to be offset by the company who brought the tax loss and MCA.
Fair comment, a bit of wheeler dealering is always a possibility. Have they said they will not use YA again officially? I would have thought the Oz government would put up a huge fight over that tax loss, the connection to today's ECR is ever more tenuous. On the other hand, as you say, the new regime wouldnt have entered in to this new project without having a good idea where the funding would be coming from. Cash for exploration has never been tighter. Wish all well with it and carry on watching, too many on here bear grudges over past observations. ATB
Well they've committed to 100k singing on fee for their new project, as well as saying ya is not going to be used anymore, also they have only taken a tiny amount from ya on the last drawdown so they must be confident of getting it from somewhere......timing coincidence with Mercator being released from administration and flying over to ecr across the waters....maybe not... Equally the bod have dropped heavy hints that they are about to get a new high quality high integrity investor in ecr... In case peeps are interested i believe ecr looked at gold mines in Armenia and Kazakhstan and an iron ore project in Argentina( thank goodness they didn't)
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