This subject always makes me smile, especially when the bashers jump on it as if its a negative!
Without this funding deal ECR would have a monumental struggle trying to go forward with the Itogon resource estimate, not only does it provide the funds for the prior drilling etc, but it also gives ECR access to funds to follow through with the mining licence and fees to TGR for the 50% earn in rights......if/when they need it!! *(?)*
The mining industry has been on one big bear run for a number of years as we all know, and small company`s like ECR have had an uphill struggle to find backers who believe in them, to stump up the cash so that they don`t have to worry about paying their costs while they prove up what they`ve got...and many have gone to the wall the world over. With us its a dripfeed of dilution, so what.....slowly slowly catchee monkey!
Keep bashing this deal as much as you like derampers, because what you are doing is actually carrying a big banner saying `WE`VE GOT FUNDS`!
All small miners need funding, in whichever way, and plenty that went down the pan would love to have been in ECR`s position.
SLM and MGA still have value too, to the `right` company!!!
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