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CB has already explained that the assays come
Back in 2 batches.. they’ve had the first and waiting for the second. Also, why organise and apply for phase 2 at HR3 if they haven’t discovered something of interest, they have plenty of other acreage to explore..
Lastly, the last results seemed ‘delayed’ and weren’t fantastic so I think your comment was an attempted de ramp really wasn’t it.
Can only suggest not good news, who would delay good news?
8 holes drilled at HR3 i belive. Some at byron Reef, some at Mauri reef
We recieved the first 4 holes and are awaiting the next holes
This is in addition to the ongoing campaign near cherry tree and the 10 holes or so at Creswick. and the licenses. Plenty of news
Lucky guess jsmith, what happened last time?!
If not mistaken we are still awaiting assay result from the initial holes drilled ages ago, any reason for the delay?
Nice to leave a good RNS for a good day.... The general market metals and gold sentiment is down.....
Its oil and gas turn.... Either or normally... or when the **** hits the fan both :)
Its a blip...Gold and Copper are no brainers.... opportunity for more exposure for less.
Yeah deifnitely mate. Patience is the key. But you still like to see progress along the way to show your investment ia heading in the right direction. And right now with ECR we have a great balance of that to hopefully put us in a position where we can start releasing positive assays to the market on a regular basis.
Like CB said, it's not like playing slot machines. Plenty of holes/work/time goes into the day to day operations before the company can properly define the true source of all this Gold, and once they do, you can really dig your teeth into it. Already planning phase 2 at HR3, they're clearly excited by the work which has been completed this far
Terrible market for a lot of shares jsmith , a lot have gone to cash waiting for the market crash , some are shorting , maybe there are still warrant sellers , some getting bored waiting and taking it to other shares . Spreadbetting and leverage curtailed/stopped on a lot of shares, not so much money to go around since the furloughs went back to work, high riskers like the thrill of the crypto (gold is for old people) . Lots of reasons but it will change , and Wednesdays for a long time have always been the worst day (followed by every other day!).
That's the macro , in the micro it is a good time to reduce averages if you have confidence in a share.
why doesn't the market factor in the potential of ecr, surely it should be a solid 2p+ by now
@AG1989 - at the risk of sounding like a love in - you speak a lot of sense to the point there's little need for me to add anything to the points you make.
patience and caution will see us rewarded in the long term.
I like to use Market Caps a lot when investing, as I know many of you will. And it’s not a direct correlation to the value and assets of the company, just how much money at that time is invested into these companies.
I’ve seen Oriole go from 0.4p > 1.9p. I’ve seen OMI go from 4p > 44p and ecr go from 1.75p > 4.4p. In the space of a week. All 3 without really releasing project defining Gold grades. Maybe just an operational update or drill purchase or land package. The volumes I’ve seen is phenomenal.
But you’ll always see a huge retrace and it can come back down just as fast.
That’s why I keep banging on about resources and grades and these buzz words and factors that not only get this moving, but will support it once it starts going.
That’s why these 4 HR3 grades are important and will hopefully be complimented by the Creswick ones. Meaning we can cement and build a support further up past 3-4p knowing we have a couple of healthy deposits under our belts.
You can make a lot of money in these companies by trading them on a month to month basis, but I’m looking beyond that. Let the grades do the talking and in time, this will move 3-4p at a time and not 0.1p :)
JV then 40p for ECR, everything else is icing on the "Mine" Craig will develop and then sky is the limit for the SP
thanks mate
I’m no mystic meg and have called this wrong on many occasions. I’m not sure on 11p. I said 8-10p the other day.
For that to happen, we’re looking at a market cap of around £100m. That’s a big big number, even in this game. You’ve got producing assets like Hummingbird resources and they’re only valued at £82m. Orosur mining. Currently valued at £28m with 2 majors on board and a deposit churning out higher grade than I’ve ever seen in the junior sector. Cora Gold, £17m mcap with a 265,000 oz resource which is set to be upgraded substantially soon with production financed for next year
This isn’t a cross ramp but hopefully a little bit of an understanding of the value of some of these junior exploration companies investors are taking a look at.
I feel once we crack £100m(whenever that may be), you’ll fine it easier to progress and it’s normally where the institutional investment comes in. The private companies, banks, index funds.
I feel if we get good assays from HR3, nice widths 5-10m+ with >1g/t, I think this will start to move again up through 3p, back to 4p. A move supported by some nice Gold pulls.
Now if we continue to deliver on these next 10 Creswick holes, get these licenses granted across the board and finalllllllly sign that JV, you’ll see some real interest build here. Imagine a company coming in and taking 50% of the project (maybe more), but having to spend $6-$10m over 3-4 years. Bring their own analysis equipment, provide multiple drill rigs. That’s the dream, fully frees CB up at Bailleston Tambo and Queensland.
Notice the amount of “ifs” in there. It’s those “ifs” that separate us from where we are now, to the 10-11p mark. But imagine looking back in years to come , your 1500% up on your investment here and you loaded up at 1.9p. That’s what it’s all about for me, and although other companies are throwing out good grades on a regular basis. We have 2 100% owned gold projects. Proven gold at both. Current drilling campaigns at both. A core shed overloaded from the recent work. Our own drill rig for flexibility and £5.6m in the bank. When you combine these, I see real value here but not necessarily in the next month or so. It will take time.
And that’s only my opinion. Small steps and let every piece come together and our day will come.
Have you got a more modest SP prediction Lucky? I can see you have posted some great info so whats your prediction?
The point is that Craig has planted these ideas i.e. a resource by the end of 2021, bitcoinbuyer has a point but whether ECR can meet that prediction is another thing, I had forgotten he made that claim in February that's all. He discusses the JV which even now doesn't seem clear regarding legal matters.
What is your point here?
Bitcoinbuyer saying 11p could be dismissed as a load of bunkum after the discussions about time it takes etc; and yet we all get ideas in our mind so I thought I would just check it out as something rang a bell (end of 2021) and that interview is where the idea was planted, Craig adamant in the interview that what will happen is Part 2?
@*************
spoke to Craig Brown, Chief Executive Officer of
@ecrminerals
The objective is to have a resource by the end of 2021 #ECR Bailieston Project in the Victoria Goldfields, #Australia assay results are expected in the coming weeks. 2021 is drill, drill, drill