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I was going to congratulate you on a good spot Aberystwyth and recommend your services to the company who obviously need a completer/finisher to proof read their reports, and then I noticed yet more date errors, good job they're a Junior Mining Exploration Company and not a Quality Assurance Group :) "Bailieston
Notwithstanding the delays in receiving assay results, MGA is continuing to progress with drilling at the Bailieston tenements (EL5433), focussing on the Maori Reef and parallel reef systems within the HR3 goldfield. The geology team is also making progress with near-term plans to re-enter and continue exploration on the Blue Moon prospect located on the southern extent of EL5433. Drilling and subsequent 3D modelling of HR3 drillholes BH3DD005, BH3DD006 and BH3DD007 earlier in the year revealed a moderate south plunging fold underneath and along strike of the Maori Reef workings (see announcement dated 1 July 2022). In November 2022 we reported initial results from the first hole completed, (BH3DD009), which returned 0.7m @ 28.06g/t Au from 52.7m depth from the Maori Reef. Holes BH3DD010 and BH3DD011 reported consistent gold grades in December, while soil sampling results revealed a larger area of anomalies, supporting a dilational jog model theory developed by Adam Jones. In March 2022 further data received identified five mineralised zones, all correlated to the Maori Anticline (within the Maori Reef), plus consistent gold grades in hole BH3DD012 and visible gold in hole BH3DD034."
*our
Looks like are 1m buyer is mopping up weakness today.
Armani, Looking at the report there is sufficient funding to take us through to the latter half of 2023...based on current spending.
This.
We have our own rigs, land and access. Expenditure will should be minimal relatively speaking as now we are set up to turn our acreages into swiss cheese.
I like this.. '...enthused by the possibility of developing a resource at both the Bailieston and Creswick projects'
They clearly think we'll have enough gold for resources at both.. Queensland will be the elephant play with (hopefully) company making core work being carried out in Victoria.
Interesting to see if we get any further updates between now and the London meet.
GLA
I agree Talkingsense! Don't forget the 200k received from warrants in April which won't be included in these accounts. Cash has depleted because CB went on a spending spree in Creswick, was this a smart move, well it will depend on what we get for those properties which in my opinion will undoubtedly be sold. Like you say, there will be a fundraise at some point late this/early next year but ( I may regret saying this) Andrew doesn't seem to the type to shaft shareholders, they're putting in a lot of effort trying to repair a broken relationship and therefore I suspect a rights issue/open offer. For now nothings changed. Have a good day all.
Armani, Looking at the report there is sufficient funding to take us through to the latter half of 2023...based on current spending.
Andrew has already stated that there will be a review of assets and any non-core (pun intended) assets would be sold off increasing that timeline.
The Philippines asset decision will be an interesting one whether they keep it or sell it on.
If I were a betting man I would think there will be a further fund raise at the end of this year/start of next to significantly accelerate Queensland if the initial investigations are encouraging.
Nice to see the assets increasing by £1.1m over the year
Baffles me how ECR do not have a much higher shares price as they are months ahead of anyone else ... just look at todays half yearly report ... bullet point 2 : "In December 2022 the Company was notified .."
Its not rocket science to proof read a report statement ..... arghhhhhhhhhh
Hopefully they are better at reading their geological maps
https://www.londonstockexchange.com/news-article/ECR/half-year-report/15518658?showDisclaimer=true