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So they wanted to do a placing at 3p (but they didnt need the money) then shareprice started falling so we HAD to carry on with the placing anyway ???????? Err what.
So do we now just expect that every time the SP rises they will do another placing to grab more cash thats not needed.
‘ The time to sell was on the release of the RNS yesterday when the SP was 2.3p. Selling now at just above 1.6p is plain daft imo’
Agree with this, however we are still considerably above the 52 week low...feck, hope we don’t go down that far but it’s starting to look more likely than not.
As for those expressing sympathy for CB after he may have read posters comments, he has no one to blame but himself, no need for me to go over them, but he has cost people a lot of money that they won’t see again for a long time if ever.
CB buy some shares, show you have confidence in the project and yourself to deliver. This will go some way to restore confidence.
On the one hand I'm as annoyed as anyone here. I now find myself 50% down after a sequence of letdowns. Admittedly not seen the interview so I might be wide of the mark here, but it seems to me the placing was timed just right because if it came after yesterday's RNS they would not have made much money. Short term this share has been a massive disappointment.
But on the other hand, I'd always had ECR pegged as a medium/long term (18m - 2yrs ish) hold, as I'm not a trader. Funding in the bank enables continued exploration of BH3DD001 and the anticline(s), progress at Creswick, and whatever new sites they can acquire. 75% chance of good news, 25% of bad = hold.
It’s an absolute disaster. There are no positives. Investors got played by his ramping in previous interviews. There is now no strategy at all, “we are drilling here, drilling there, contractors, licence problems blah blah blah”
Well folks at least he sounded confident about the pronunciation of Creswick.
Depends on how low the market gona take this....I m gobsmacked at the interview- did nt inspire confidence and the market seems to just want to keep dropping the sp- where’s the bottom now is the question????How low can they drop this?
Market clearly as annoyed with interview as most of us on here. Now he’s done that, he needs to stop with the interviews (clearly not adept enough at them) and get on with the “value” he’s talked about for ages. No more bull crap chat, just actions needed. Let’s hope it doesn’t tank even further coz it’s gonna be a long way back.
Me too bottom draw now. And I aint throwing no more money at this.
I aint selling at this price be daft and also a big loss so no way I will sit this out for how long it takes.
Really sad tbh as I truly believed we were going places and JV was so close but this is mining and shows you not to trust anyojes words.
Agreed DVH.... Damage is done.... Now little downside...
Cannot bring myself to average down following that interview...
I'm going to sign off ... nothing positive to say...
Bottom draw
His explanation for placing was a joke. Infact whoke body language was i dont want to be here or talk tbh
Pretty dam sad really. Definitely pulled a good one CB
The time to sell was on the release of the RNS yesterday when the SP was 2.3p. Selling now at just above 1.6p is plain daft imo
Yeah - the personal insults and criticism is certainly not warranted, and instead of dwelling on the past, I'm the first person who kinds of just wants to forget and focus on the positives moving forward, which there are plenty
But if he's happy to come to market and take another £2m from investors, i think the least the investors deserve is an explanation.
Just seems a bit mis leading lately and I've never really had this feeling about the company
- Fully funded > Exercising a placing for £2m without much of an explanation apart from it strengthens the company moving forward (Which i do agree with btw)
- Assays recieved > Not releasing them for 7-8 weeks
- JV, can definitely get a deal away, just a few licensing issues to sort out > Not dead in the water but we're now going back to drill more of Creswick, this will delay the JV imo for the best part of 2021
- Communicating the importance of having your own drill rig > With £5.8m in the bank, the 2nd drill rig would have been a purchase worth its weight in gold for 170k, but like previously mentioned, there may not be any available to purchase. We're now using contracting rigs which your now stuck with set time constraints
Always try and be balanced but it never filled me joy that interview. A more realistic approach and i think as investors we now know where we stand moving forward.
More assays to be recieved, a plan for the rest of 2021 at Bailleston and Creswick news is what I'l be looking out for now. Licensing news too
JV - balls up
Drill holes - balls up
Placing - sorted
Salary - sorted
Warrants - for the lads
@JTB - "He looked to me like a person who'd spent a hard time reading a lot of hurtful criticism about himself."
Exactly what I thought at the time too. BUT his comments about the placing made me think you deserve to feel uncomfortable if that really is your reason.
THAT SAID - hurrah we go a placing away at 2.2p, shame we had to give up warrants too though.
Jtb - I also sensed that CB was a bit riled in terms of his tone, expressions and body language. At one stage, he even picked out the interviewer for not pronouncing Creswick properly, which was a bit unnecessary. I thought the questions were really good/pertinent and Stockbox obviously listened to us in terms of what we wanted them to ask CB.
Interesting to see how a CEO can go from hero to zero in a few short months lol
Agree, CB has to be buying shares. What are expectations when these new shares hit the register at the end of this month, can someone please give an experienced view on this?
I agree with the downbeat interview but more realistic.
Reading between the lines it sounds like, ECR is expecting minimal movement of the SP in the coming months this is not to say things will not progress; along with the fact that Canadian gold miners are taking a hit and underwhelming drilling results prompted the placing
I would like to see the BOD purchasing some shares (although they may be in a closed period with assay results due). This may offer some stability to the SP.
If this drops to 1.66 I will buy more
As suspected, a bit more work to do on the JV.
Not bad drilling results published.
CB has taken a kicking, but the geology hasn't changed (even if the sentiment has).
No more top ups for me unless it hits the 1p mark, but I'd rather it didn't.