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Yeah, it’s a long term goal for ECR but the gains will arrive long before we begin mining studies and pit optimisation.
The gains come when the successful assays are released and the resources begin to build up. Something the market can look at and get excited about. Like OMI last august, some blockbusting grades. Like GGP which in my opinion last year was the hype stock of the AIM. Just like Argo blockchain and a few others, there’s always something that takes the market by storm. With GGp, the rainbow chasing period is over but they’re still left with a solid product to work with. A product which in the years to come will continue to extract value for its shareholders.
The way ECR grab the attention of the market IMO are either :
Signing the JV is one. But not just signing it, really exploring Creswick and hitting the nuggety grades.
The other one is returning to blue moon. Since 2018, this is one target the company have always spoken well about. If you strike again here and expand on the 2018 results, it really starts to come together.
It may have been oversold but it’s still double the market cap of the likes of COBR & EEE. Two companies IMO have a lot of strong catalysts incoming.
We really need to start to walk the walk, and use this £5.8m in the correct manor. They’re trying their best, and have 2 prospective projects. I’m excited for the future of the company, I just believe short term (3/4/5 months), it may be slow going which can chase away the get Rich quick investors.
I’m sure we will hear very soon the plans beyond HR3 and when drilling will begin at Creswick :)
"Reading the chat board for weeks has been like watching a slow-motion car crash."
sadly the same is true of too many boards, it is no great secret that success as an investor is as much about understanding other people's failings as it is understanding your own.
I know my timing stinks hence topping up at just under 2p rather than recognising the potential for the hysteria to take this as low as 1.6p... but in the long run I don't see it as an issue as sub 2p was where I regarded this as a worthwhile purchase and I achieved that... sentiment can go up just as quickly as it can come down, so at some point this will be overprice again.
Mcap retraced from a high of £38M to today's value of £16M. Surely overdone, hence why I bought a few more at 1.65p yesterday...
I think grades of 19/g/ton are worth pursuing a little further at HR3 before moving on...
we have the ability to drill a hole and get basic info back pretty quickly before deciding where to go next.
CB will no doubt do his own thing, and is in better position than us to make judgements, but whilst I would not commit to a lot more holes at HR3 I'd like to see at least couple more.
Yeah I agree. Not deramping because I’ve been in full support throughout all of this. It does represent a brilliant opportunity from these levels.
I’m just trying to look at the big picture in terms of resources. A lot of work to carry out on both projects, I do think it will be a slow couple of months but the pieces will slowly start to come together, campaign after campaign.
Blue moon looks to be a real gem at Bailleston. I see no benefits in delaying another 1,700m there. Could really be a game changer if focus was 100% switched here.
@AG19189 " I'd be surprised to see 2p today and and don't think the sell off is an overreaction"
I agree that we probably won't see 2p today but I do think the sell off was somewhat of an over-reaction , especially in terms of the emotional hysteria. However I'm not saying that some degree of sell off wasn't overdue
I think below 2p this represents a worthwhile punt for those who understand the risk of junior explorers, where I bought in a while ago and have since topped up twice but always under 2p.
There is the chance for great news in the future and I don't think the last few weeks have changed that, what has changed is that more people have realised that it is only a chance and not a certainty, hence the SP has found a more realistic level closer to 2p which is where I suspect it may settle over the next few weeks.
I'd be surprised to see 2p today and and don't think the sell off is an overreaction
Looking back from when i started investing here and the months before/interviews with CB, in terms of resources in the ground and deposits, we're no further on, and this is what we're all here for at the end of the day.
I think we all have differing views on the assays for HR3, but to me they're really not great values. I love the fact we now have £5.8m to go and explore with, that's a substantial amount for ECR to move forward with. 2 holes pending, but if they return to HR3 in the near future for another 6 holes based on the values of those 4 holes, I'd put that down to a serious mid-use of company funds.
There is Gold at Creswick and Bailleston, we've proven that to some extent but the campaigns carried out at:
Creswick
Blue moon
Black cat
were not big campaigns by any stretch of the imagination. Some good grades (17g/t) at Blue moon, but like creswick, below this value there really isn't much to write home about.
The one positive i see from drilling HR3 is that the company can now immediately return and shift focus to those targets that have successfully struck Gold in the past. In 12 months time, rather than have 4-6 holes in 4-5 different targets, I'd much prefer time, expense and resources be spent drilling another 1,500-2,000m into Black cat and/or Blue moon. Start to build up a resource, a JORC estimate of accessible deposits, which are cost effective within 150m
We have the funds, we have a drill and an experienced team to deliver good value here. Let's use the information we have and start extracting value back for the company and us. Tambo will be a nice acquisition but beyond this, we don't need any more, prove up what you have first.
Topped up yesterday so still hoping for big things here, but a lot of work to do.
Everyone’s negative now but a sniff of what’s to come and ecr will easily bounce. license update, better final assays for upcoming 2 holes, CW drilling commencing, JV etc etc
Remember the old saying, today’s news is tomorrow’s fish and chip paper.
Onwards and upwards
No chance.
CB's Humped it
SP back to 2p today?
Certainly is..... watching so many holders whip up into a negative frenzy and implode to create and fulfill their own losses has made interesting viewing.... CB making what he believes are positive decisions for the business sending the share price the other direction.... end result is a stronger business at a really attractive price..... if only I hadn't averaged up and then down as now have nothing left to throw at this so will just have to wait. A new batch of investors will see the value and come in unjaded.
cash position in excess of £5.8 million,gold going higher,worth punt at these levels.