Just thought I'd use this quiet time to record my respect to john on his info. Let me be unequivocal.....he was right, I was wrong. Both the assignment and thence release were far more advanced than I believed.
Very pleased, however, to be proved wrong. It's not often one can say "older, wiser and..........richer" :)))
In case johnsp doesn't get to read this (he's away surfing) I'll re-post when he's off his SB and back on this BB lol.
More news in the next couple of weeks on SdlM and Itogon.....happy days.
Dated below is the SLM RNS and so a further update this month;
LONDON: 24 JUNE 2014 - ECR Minerals plc is pleased to provide the following update on activities at the SLM gold project in Argentina. The SLM project area is 100% held by ECR’s wholly owned Argentine subsidiary Ochre Mining SA (“Ochre”).
* 3D modelling of historical drilling data indicates that the JV-14 zone may have attractive resource potential in the context of Ochre’s strategy of seeking to bring high grade, low tonnage gold deposits at SLM into production relatively quickly and at a relatively modest capital cost
* A programme of cleaning and sampling historical exploration trenches is underway at JV-14; assay results are expected in July 2014
* A drilling programme is planned for the JV-14 zone, subject to the results of trench sampling
* Two rock chip samples were taken by Ochre from the JV-14 zone in January 2014, one of which returned a very high grade of 67.9 g/t gold (as previously announced)
Stephen Clayson, Chief Executive Officer of ECR, commented:
“It has been several months since ECR provided an update on activities at SLM, but work has been ongoing. The most important task completed has been the sourcing and interpretation of significant historical exploration data. This has led to the planning of a drilling programme for the JV-14 zone. However, in order to de-risk the proposed drilling a programme of cleaning and sampling historical trenches has begun and results are expected next month. These results will help decide whether drilling is to go ahead, and if so, help make sure the drilling programme is planned as efficiently as possible.”
So news on MGA / SLM / Itogon all in July and with that I will sleep well tonight.
A physical-gold Asian demand for the yellow metal.
The exchange-traded Singapore Kilobar Gold Contract, expected to go "live" as early as in September, will introduce centralised trading and clearing of physically delivered gold, the World Gold Council (WGC) said in a release.
The Asian city-state's move to introduce the contract is part of regional efforts to set new price standards as the global benchmark, the so-called London "fix," has come under regulatory scrutiny.
The kilobar contract for 25 kilograms of 99.99% fineness is seen as providing a viable price benchmark in Asia.
It shows how Southeast Asian markets are hurrying to facilitate transparency in gold trading, WGC investor relations manager John Mulligan told Mining Weekly Online.
That should fuel demand for physical gold.
“Wherever we’ve seen gold made more accessible, we’ve rapidly seen the growth, so we expect something similar,” Mulligan said.
With Asia, particularly China, processing and consuming an increasing amount of gold, exchanges in the region are developing more bullion products to establish their own supply chains and work more efficiently.
“The center of the world for gold consumption is Asia," said Victor Thianpiriya, an analyst at Australia & New Zealand Banking Group Ltd. "So it makes sense that the center of price discovery for the physical market moves that way.”
“It’s only going to be positive for Asian gold demand,” he said.
The volume and interest has returned and rightly so. The RNS on Friday has given investors the opportunity to digest the content over the weekend and I expect we will see some large buys 1st thing tomorrow as positions are taken. If I can get in at a decent price will top up again tomorrow. The game changing news seems to have taken a long time to get here but it is now on it's way. Well done to all of those that have patiently held, not long now.
Your Sunday morning review of ECR is like a broken record that goes on and on and on and on.....
As you keep reminding us that ECR is a poor investment let's remind posters of your investment in ECR under the old BOD where you ousted out the MD who diluted the pants off ECR for no operational gain and that you lost over £200k that you declared on here and the only way you as a very bitter ex holder will be satisfied is if ECR fail, but unfortunately you will be posting for a long to time to come as ECR's new BOD have taken the company from strength to strength.
We can all speculate about how the MGA tax losses will be used and very soon and something the old BOD failed to find closure with.
You keep banging on about dilution and wouldn't any company need some financial help to bring an operational opportunity that will create future profits and share holder satisfaction.
Your writing off SLM but the BOD have gone on record as saying its a near term, low cost small mining cash generater so that will be the first hurdle. Once it's proven that money can be made out of the nuggets of gold and at $1300 oz and climbing we will have a cash call and I don't see it being a problem.
Until we are told this your speculation to 800m share dilution is extremist especially when we raised £500k at .3154 and only 160m shares were added.
Moving on to Itogon, ECR / TGR only need money in getting the JORC and I can tell you now that once that declares historical data was right in the potential of 1.4m oz gold and ONE vein holding 300 oz which is where we are concentrating on do you think the share price will be at these levels?
So let's press hold for now and agree with you that MGA is worthless and SLM won't be a operation success and ECR is at .25 with 800m extra shares, (the darkest picture you can paint)
Now just price in 1.4m oz x $1300 less $500 to produce equalling $800 nett at 50/50 with TGR and upon that answer do you not think that as Stephens has suggesting and in my opinion will happen Itogon will be sold off and thus no dilution but if they keep Itogon I see yet again no problem in raising funds.
The big difference is raising for further operation progress and creating share holder value is to be expected and I don't understand why you try and scare people.
You also say forget Themac for a few years but yet again you speculate negatively as I will positively do you not think the Maloneys who shafted you and the old BOD give a monkeys about ECR , not a chance and so there not waiting around and it will be sold or taken into production without ECR as there 15% is for sale.
That's the key if Themac announce that Copper Flats has been sold for $100m or a $1b ECR will do very nicely.
So keep up your bitter relentless attacks on ECR and your welcome to your views as I am with mine and I'll see you at the finish line either way.
At the right SP is not a problem, gives a company more scope, bit like taking a bank loan out which most businesses do but with no actual debt ! Happy with dilution around 0.50 or so and by then could make no difference at all to the SP.
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