We spoke to gas explorer and developer Sound Energy. Here are the latest updates from Executive Chairman Graham Lyon. Watch the full video here.
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I agree, is it gonna be hair pulling like this all year?
We're only on hole 1 of about 100+!
Good time to release news after stimulus bill?
Reading some tosh on these boards trying to ‘Read Ceos body language and lack of excitement’ really..... clearly no idea that if you have info that is share price sensitive you have to be super careful in interviews. RNS’s and Pr are checked numerous times for legal approval. As the more sensible on here have stated, wait and see. I note PREM jumped about 50% on no news Friday..... this will hopefully be a nice steady stream of flow.
Craig's body language...
I'm drawn into this because I'm an Aussie too and to me he seems like a bit of a country boy (as am I). This may surprise some but people from the country in Australia are a pretty modest and understated (in a loud way to an Englishman's ears) people. They're also pretty straightforward, genuine and usually men of action rather than words.
Hope this helps in making those who seem interested better in understanding his body language.
Thanks Trek, appreciated
“How many metres a day can that drill dig?”
Here’s the spec on our rig. Unfortunately that’s not a straightforward question to answer as it depends dramatically on what you are drilling, how many hours a day you run the rig and to what depth as that affects the torque.
What I can say is this is a very decent bit of kit a Cortech CSD1300G diamond drilling rig complete with spares and all downhole equipment and its capable of drilling as deep as 1,300 metres. You have to have a good rig to get that deep!
But two would be better than one!
How many metres a day can that drill dig?
You have to remember when Craig new the results he was very excited.
How do you expect him to still be popping party poppers after 3 weeks.
His mind is on the future drills and deals now.
The feeling you get when you had a new bike or car wears off.
Funds ready for a top up early next week hopefully I get in close to 3p main holding at 1.79.
Next week should bring some big moves I’m hoping north
Trek, thank you. The perfect response and glad to see some are on the same wave length.
Ultimately we all want good assays and inevitably we went the price to rise. But like other mining companies who have had good results lately followed by a drop, next week may show many PI’s only interested in a quick flip.
I’ve posted a couple of snippets lately. Long detailed snippets which to the naked eye, look boring and not worth a read. But the meaning behind them is meant to highlight the gold and quartz already identified and drill within Bailleston and Creswick. They’re huge projects and we have 1 drill, this will take time but eventually the assays will come together and begin to look something like a resource. That’s an interesting comment about the assays. It’s so true, we’ve struck gold and I believe CB thinks we are in the right location and will want to attack these holes at depth some day.
Onto Creswick, EL006184 is the current license. If you were the JV partner, there’s absolutely no chance you’d be drying that ink on the contract before EL006713 is granted directly below it. The DMS runs right through it and will virtually double the potential at the Creswick footprint. CB has mentioned numerous times it’s only licensing matters that need finalising and I’m more than convinced once this license is granted, they can move quickly to confirm the JV
Finding out grades 2m @176 g/t were pulled from the DMS just south of Creswick is amazing too, on top of our 44 g/t in 2019. With the DMS contributing a significant amount to the 11moz in the Ballarat area.
£1 in 3 years is definitely an achievable target here.
A great ceo
2 projects littered with gold
A JV on the horizon
Your own drill rig
Drilling 365 days of the year
A history of good assays
Your own lab equipment
I used to compare companies to GGP when looking to invest. I compare them with ECR now and at such an early stage in its development, there’s no better opportunity out there for me.
I am on the same page as you in terms of setting expectations. Also like your postsI undertook similar research on Fosterville and our synonymous geography, I posted some earlier. To have the quartz veins and alluvial deposits across our acreage is very exceptional. That’s why it’s the Victoria Goldfields! A clue for some!
I am resigned to thinking that the market reaction to this drill will be ambivalent at best and more likely negative. It’s one hole, what are people expecting. Those, however, that do know will understand it’s a marker. Are the seismics right, are the soil samples correct, is the XRF in tune, does the drill perform or for that matter are the team on their game. That’s the sort of stuff that matters but you don’t get in an RNS.
As far as I am concerned we have had the assay results already in the form of ‘visible gold’. I have been buying this dip and will sell elsewhere to pile in if we get an anticipated mute response.
The potential news flow has been well articulated here. I look at this investment very simply. Do you think it will be 50p in 2-3 years time even after some inevitable dilution. My answer given what I know is an emphatic yes, well I actually think 100p is a possibility within 3 years.
2m shares = £1m!
I fully understand 2m shares is well beyond most people’s reach but that’s what I am busting to aim for and every dip puts the opportunity in reach and as other investments reach news pivot points they are being flipped into here!
I trawled through around 30 mining companies in detail before I picked this one. Many good companies I bought and sold like WSBN, THR, GRL, SHG and several others to buy more ECR as my confidence grew and the warrants/funding played out. This is one of my top conviction buys so perversely I’m hoping for a mute market response as I have the stomach and hopefully the knowledge to grab more!
When CB talks about us hitting gold, and we've just got to follow to mineralisation down at depth, why would you even talk/think this way if the initial results from that hole arent positive? A lot of time and expense goes into drilling these holes so you need to be positive you've hit a sweet spot before continuing.
I trust the company, just not the market. I've freed up a little cash for the next couple of weeks "if" the price drops. Since it peaked a while back over 4p, it has retraced slightly so hopefully we see positive movement from this point on.
What I'm hoping for Q1/Q1
Hole 1 assays
Hole 2 assays
Hole 3 assays
JV license signed
Additional licenses approved
Hole 4 assays
Rig relocated within HR3
Additional drill rig purchased by June
Drilling at Creswick to have begun
Custom Lab built at Bailleston
I think there's a chance we'll recieve the first half of hole 1 assays next week, shortly followed by the second half which lead up to 300m and they kept intersecting quartz.
Lots to think about but can't state enough how the incoming assays are just the start. They're not a factor to base upon should you pull your investment if they're not bad. There is visible Gold and Gold has been drilled historically at
Have patience and your time will come.
@djwall1s: "So it's best not to overthink things or you just drive yourself, and everyone else, mad."
Thank you, thank you, thank you - for saying it.
Yes but they're not magic men.
Mining anything is very hard and very tedious at times. If you're an impatient/worrisome type, mining probably isn't the best arena to be invested in. There'll be ups and downs here, same as all miners. We don't know if this is an up or down because we have no results yet. The share price could bomb on excellent results, because this is AIM and its irrational. It could fly one afternoon on a literal nothing.
So it's best not to overthink things or you just drive yourself, and everyone else, mad.
We have to geologists on ground and they can determine where the quarts are.....we are in the heart of Victoria islands
Whats that in English ?
I will be disappointed as I taught we had the heavies on the ground and they knew where to fire the drill
HR3 it **
No misery here
I don't think the results will be bad, but if they are, you will get a retrace in SP, which is sad really but shows more about those PI's investing that clearly don't know what they're looking for
So much hope and expectations for some put on 1 HOLE, YES I said it.......1 HOLE!!
Do you know how many of these holes need drilling to prove up a resource? People lining these assays up to be the be all and end all yet it couldn't be further from the truth. If we strike well with Hole 3 if gives the company a clear indication they're in the right spot (Visible Gold suggests this anyway), but if they're not high grade and the right widths, the company can adjust
We have many holes ahead of us in 2021 as well as a JV at Creswick. "JV" just isn't a phrase thrown around to help the SP lift a little, it's a contract signed which will give the company an essential free ride to 30/40/50% of a gold project with the company providing finances/resources/experience to taking Creswick to production
Support the board, support the journey and stop focusing on the short term. Far too many will gladly take the 600% rise ECR has had this last year but when the market is suffering all over and news is slightly delayed, they want answers.
TS. I took it that all assays would be done on that basis so as not to risk a significantly high or low figure that is not necessarily representative of the overall sample.? If you are saying otherwise then I would accept what you say as I would admit that you are more up to speed with all that is ECR than me. We will be put out of our misery next week no doubt. one thing for sure, is the road ahead is quite long- I wouldn't mind coughing up a few pounds for another midas or even two more. There is a lot to go at and maybe more in the pipeline coming up soon.
CB is rarely animated. I would describe him has controlled emotionally in the interview and so he should be. The PR this week has been negative on the SP which means for me a bad week but my ECR holding has increased as I could not resist.
Certainly no FOMO today in anticipation of results. They will be what they will be. We wait.
Ezhik, Whole bag testing was done on the 2019 drilling cores @ Creswick.
I think you are getting your results mixed up.