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I guess the business logic was, this is an AIM company at the early stage of exploration, with limited/no revenue-generating capabilities. With the results from the drilling and the new NOMAD flexing their muscles an opportunity presented itself which they took. Initial I thought the timing of the placing was strange, but with the knowledge, we have now it makes some sense!!! Results weren’t great, let’s get more money, make sure we are financially secure for any setbacks this year and push on and attack multiple zones, and will be in a position to purchase some cheap asserts if it comes their way.
CB wasn’t concerned (I hope this is true) because his focus is the long-term growth of the company. The day to day, month to month SP should not be his main concern.
It would give me confidence if the BOD, when they can, purchase some shares and back up his comment that ECR is undervalued.
In my opinion, there will be plenty of ups and downs for people to make up their 4p entry price. And the extra 2m accelerate news flow this year.
a better interview, however, i'm still not convinced by the logic for the additional placing. He admits it was a mistake but he didn't look overly concerned. I suppose he might just a bit poker faced naturally. Hopefully all the bad news is out the way and we can move forward now. There is certainly loads of drilling to look forward to
Everybody thinks and works differently but I have an approach of asking myself is any latest piece of information a known fact I can use to re-assess the value of a company, or is it simply "good news" that boosts sentiment in the company and increases the prospects of getting actual facts which increase the value of a company in the future.
The price I'm willing to buy a share at is determined by the former, the number of shares I'm willing to hold by the later.
With ECR my price was anything under 2p but the number of shares I was willing to own kept increasing with the talk, I just wasn't sure if news would raise my valuation to meet the actual SP, or if the SP would drop to meet my valuation.
As it was I got to buy some more when it dipped below 2p... had I known better I could have waited a few hours longer and bought in at 1.6p
I agree Happy, to approach with caution, DYOR. I never stop. checking the RNs history page, twitter, LSE, youtube, everything.
Differing of opinions maybe. But seeing Interview after interview, Visible gold in the cores, (XRF result, 15g/t, potentially more", "We're confident of getting a JV away".
All of which are true or remain in place, but hearing these kind of factors being rolled off by the CEO, I'm not surprised in the slightest PI's were taking this in and topping up at 3.5p/4p. It was being ramped slightly by the company and caught a lot out
I think what this last week has done is brought a few investors expectations for the near term back down to earth (I include myself in that category)
Superspesh "Happy.....the misunderstanding wasn’t anything to do with PI’s, he told the market that he had results of the first hole but in his wisdom decided not to release them, speculation is only natural. Then instead of results we got a placing after being told were fully funded....eh??!!"
Speculation is natural, acting on speculation comes with risk, limit your actions to acting only on fact and thing get less risky... As for placings I always work on the assumption they are a possibility with any explorer.
I'm not saying that communication couldn't have been better handled, only that everybody has to decide for themselves what information they are going to act upon, or if they wish to act before having the information.
Being optimistic.. the £2m raised has clearly been earmarked for the Creswick acceleration. If the new campaign can sure up the potential of the acreage months before it would have otherwise, it could have massive implications for our JV negotiations, which are clearly still alive and well. Feeling really positive today.. and as the header suggests... what a difference a day makes!
Can't really blame the PI's. He told the market the internal results expect to achieve at least 15g/t, maybe more. And also informed us that they had recieved assays, can't blame investors for getting excited.
Beyond those facts, it was pure guess work so the only thing to do is wait for the assays and make a judgmenet then. This is what investors did and it resulted in a drop in share price which i expected after seeing the results
But it's not the end of the world. We go again and attack with the drill on 2 fronts now. Very excited about Creswick.
Happy.....the misunderstanding wasn’t anything to do with PI’s, he told the market that he had results of the first hole but in his wisdom decided not to release them, speculation is only natural. Then instead of results we got a placing after being told were fully funded....eh??!! Anyway this is the last time i’ll beat down on CB, at the end of the day i’m only talking my money down, he’s admitted his mistake so I hope he doesn’t do it again. Lets go find some more gold now. Onwards and downwards into the ground!
much as the new interview is more positive... let us not forget that much of the original misunderstanding came form private investors making assumptions, talking them up on boards like this until suggestions of hoping to do things soon became "now" and then getting disappointed when things didn't happen immediately.
delays out of the hands of the CEO are still delays out of the hands of the CEO ....
Definitely improvement in today's interview...Craig understanding shareholders frustrations and a great recap of all assets. New drilling team to start imminently New licences imminent Fresh focus more shareholder engagement promised Bargain share price Dust myself down and double holding.