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And the fencing of the CresWick property, additional drill other machinery and property purchases may give a clue to what CB has seen in the provisional/in house testing prior to sending to the labs ;-)
Nothing has been 'said' about cores.. But tweeting photos of quartz ridden cores is pretty much the same as saying 'our cores look great' surely? you wouldn't tweet photos of a core you didn't think looked encouraging.
But yes, enough waffle.. Result's time! we've been waiting long enough.
I think CB has confirmed in his recent interview that they are waiting for assay results and hope to get them soon. ECR/CB don't hold back on letting us know if they are in JV talks. I'm sure CB would have said.
There are too many unknowns here to be able to draw any reliable inferences. For example, we don't know: 1) At what points were ECR dispatching samples to the lab for assay testing - were they submitting hole by hole, a series of holes, or the whole lot at the end of drilling? So we don't know when this 8/9 week clock first started ticking. 2) What assay testing have ECR requested? I'm guessing it will be the two stage process (fire and leach) again? 3) What is the agreed process with the lab for these? does the lab return the first stage results and ECR then decides if it wants to proceed with the second stage? (As I recall, last time ECR had the fire assay results returned to them before the leach results?). 4) Will the lab be returning results over a number of weeks, based on when they received the samples, or in one go at the end? 5) Is it possible that ECR might have received some results for some holes already? "Results have been delayed" or "we are still awaiting results" doesn't really tell us whether this means all results/holes are delayed, or just some holes/stages. 6) ECR's own strategy/decision on releasing results to the market? If they have already had some results back and they were exciting, I would have thought they would release them to the market even though they were waiting for others, or CB would have given us a heads up in interviews? 7) We don't know if the lab is still working to a fixed but longer timescale, or whether it is more open ended than that? Some companies have given a timescale for when they expect delayed results to come back, which suggests there is still some kind of time clause in the contract with the lab?
So too many imponderables here. On a separate but related topic, one thing that I have been thinking is that whilst we wait for results, CB has seemingly toned down the bullish talk about the cores. Previously, he would readily say things like 'the cores are looking good', 'we have done the XRF and are excited by it' ' there is visible mineralisation', etc. I'm not sure we have had as much of this type of talk from him of late. That's just my impression and not necessarily reading anything into it. Maybe he's realised that its best to let the results do the talking for themselves?
Thanks Aqua your link is the print version so it won't work , however
"he Australian mining industry is flourishing and is the core of the Australian economy, despite the ongoing pandemic. However, the sheer amount of work being done in Australia’s exploration and mining industries has impacted on laboratory processing times, resulting in long turnarounds.
Laboratories cannot have employees doing two or three extra shifts because people are either confined within a State or the country. As a result, laboratories are taking eight to nine weeks to process samples."
"has also found it challenging to get equipment, such as drill rigs, for all of its Australian projects. In addition, the drilling companies were often only able to provide one drill crew. Before the pandemic, drilling companies were able to provide 2 crews to offer double shifts, so current productivity is also halved in some cases."
I have to agree with the comments about the results we have been pending this for ages. I drew the conclusion that weekly RNS would be due to the results and the volume we are drilling. To me it is odd that this has not happened. But things do make sense with the property purchases he said three mines in an interview and we have three property prices we also have three drills in action. In my mind those drills will be placed on the properties to see what we have. Time will tell but the wheels have not stopped turning and we are likely to see a great number of results in one RNS the good and the bad.
I'm also a bit sceptical about the extent of the delay tbh. This is not limited to ECR, but I have been wondering more generally whether companies are using the situation with the labs to also kick the bad news can down the road and using the interim period to create some positive news flow. Before anyone says they can't do that, its price sensitive, I don't think its as clear cut as that. There are probably enough 'ruses' and 'get outs' to be able to do it IMO. I can think of a few ways that you might achieve this if you wanted to.
I don't think its realistic to expect one RNS/week and I think it was maybe unwise of CB to say that. In the same interview, they did also say the lab was turning around the assays much more quickly (I think the geo even said the turnaround was "a week"), and so the indication news flow was given in that context. Of course since then, the situation with the lab has reverted back to the previous position of heavy delays. But as others have pointed out, we've not been starved of RNS since then, even though its not been once/week. And for those who want one/week, you only have to look at POW to see that its maybe not desirable or impactful to have so many.
What are you talking about? We've not had results for many, many, many weeks. Results are what matters as they back up the spending of approx 30% of our cash position on the property. All that is required from CB is to articulate with investors what he is doing with our cash, plain and simple. They have had results back, 100%.
Incompetent is not a term I would use Snip and whilst I agree communication when it turns up is very satisfactory lucky, the issue here is that for whatever reason that drilling information has not turned up at the expected frequency relayed publicly by the CEO and hence at the very least an explanation as to why this is the case should be conveyed to shareholders