SLM 100% owned by ECR with an update on trench and sampling allowing their own team to drill the JV -14 area of the highly significant graded gold mineralisation within it proving a mining operation can start a very quickly.
Itogon 50/50 with TGR do not under estimate the size of this potential and ECR are in control of it not TGR during the exploration period which has already shown 119g/au near surface and 48g/t au in the underground tunnel with historical data and estimates of a minimum of 500,000oz gold with a top end estimate of 1.4m recorded with TGRs NI -143
MGA within their control within a matter of weeks and there is a set date in the public domain of when this will happen of which gives the serious holder time to accumulate.
MAC 15% stake and looking to sell, that stake is within their control but why sell at the bottom.
Give Paul Johnson a call and he will tell you that getting SLM into production is priority but to de-risk it they are making their final interpretations of the area and I think an update on Friday/Monday
This time last year ECR didn't have a prayer and stayed in business by the skin of their teeth and some 12 months on we have today's news something the old BOD didn't deliver.
JV with TGR and upon JORC will set the shareprice alight and Stephen says they may sell it before taking it into production and I hope they do.
SLM sitting ideal and up for sale under the old BOD and now close to near term production at low cost CAPEX and with gold climbing it's been a perfect storm.
Just like the Guinness advert and choose your favourite, tick tock as it gets louder, tick tock.
Just remember AIm has a negative effect on alot of decent shares..........i am a long termer been here a long time......i have systematically reduced my aim portfolio. I am invested in 4 ....this time last year 28.
yes johnsp i am sure most people are aware of Itogon and SLM but neither has delivered that knockout blow just yet. Who knows maybe the next RNS will do that but the sp aint showing a sustained improvement just yet so i maintain a HOLD. only thing you can do really who wants to take a loss?
hi swaggers - yeah i get the feeling it is best left in a drawer - but its also hard not to follow the fortunes of a company you are invested in and really believe in. I dont have life changing money in this one, not the kind of money which others like M21 are saying they have in here which when it blows will set them up for a long time, but it is money which I invested having researched the potential projects of a company which i saw as undervalued. I like to find value, and i believe this company still has so much potential which i do _not_ believe is in the share price.
for a junior miner to be in a position where cash burn is low with no significant debts, and several plays in place - i think thats not commonplace, so ECR to me represents a decent place to hold my money (even when there are other exciting opportunities elsewhere, i'm still reasonably confident ECR will make me money). my break even is .38 but that would not be my exit point as i see good things further down the line.
best of luck to all you fellow holders, i`ll go back to being not quite so grumpy/frustrated again and enjoy the sunshine :)
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