let's face it there are no buyers out there today and plenty of impatient sellers; So not an ideal day to sell if you are a day trader. Today's rns does suggest the exploration area has more promise but at the end of the day its just an extended surface analysis which has widened the scope for further possible exploration drilling. What we really need from the bod is a strategic plan to show how we get from exploration to production. I would like to think the MGA 'asset' is the key in this plan because nobody wants further dilution. However MGA still needs to go through a few more hoops before we can rightly claim it. All this still creates uncertainty and could explain the volatility. We need to be patient. When the conditions are right (uncertainties reduced) then the real buying will return and it will be boom time.
City Natural Resources hold 300m shares in ECR. They are no muppets. They see the value here and will return a high yield to their clients. The value always comes though in the end. REM had exactly the same issue, we will come out shining very soon. Hold or top up!!
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