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I suppose the smaller the company the more important "volume and sentiment" become...
You can "invest" in a big blue chip FTSE100 company because you have the hard data to value it. I've said it before and I'll say it again.. with a junior explorer you can't value a company as an investment based upon it's turnover/profits/loss as they rarely generate income, you can't even value them on a "fire sale" price of assets as the very nature of exploring is that you have to spend a lot of money to actually arrive at a value for the assets when the assets are primarily large amounts of rock and dirt that may or may not contain something valuable.
Junior explorers are fundamentally selling a dream; valuing them is "finger in the wind" stuff based upon confidence in the management's understanding of geology along with their understanding of how to raise funding... issues that relate back to the volume and sentiment.
In my view CB has demonstrated both an understanding of the geology and understanding of how to raise money, he has however done it in a manner which has killed a lot of investor sentiment... this I hope will prove the be short lived as sentiment is such fickle thing.
@HappyHaddock: "jtb - no such things as bad publicity eh?" It's part of a larger question. Most people on this board discuss the company itself - and do a much better job at it than i can. I tend to think about ECR not as a company but as an investment. It's not the same thing. The focus is on a different set of issues. Years ago a poster said it's all about volume and sentiment. I didn't understand him at the time but it's become clear the last few weeks.
There is another positive noone has mentioned: the last few days has put us on the map. Admittedly, the CEO taking careful aim and shooting off one foot and it's own most vocal shareholders shooting off the other is not the ideal way to do it. I haven't looked at any other chat boards but i imagine we've been a laughing stock. But volume has been huge compared to the norm - the number of trades far, far larger than daily norm for the likes of PALM, COBR, EEE, WSBN and at one point half the number on GGP which is in a league of its own. Some ex-ECR holders will have gone looking to those for a better experience but it's a fair bet a lot of the others who hadn't given much thought to ECR are coming in this direction.
To me the strongest aspect of ECR is the nearly £6m in the bank... exploration is all about drilling and we can afford to do that... a lot of that.
The money can't guarantee what is in the ground but it gives us a far better shot at finding anything that is there, and as you say we have already had some data to prove the ground isn't devoid of gold... we just have to find out if it's a little or a lot.
Exactly mate. I really like both projects, but are the ingredients there ?
To some extent you could argue 100%. To hit Good mineralisation on both proves there is some kind of system. Have we had the continuous hits to suggest we could have millions of ounces ? Not yet.
But that’s what 2021 is about for me. JV or not, we need to get some chunky drill campaigns on both Creswick and Bailleston. And if they’re not positive, we adjust and go again. To find 1m@44g/t on your very first drilling campaign is phenomenal. It now needs backing up. Not necessarily with those grades, but looking for more than 1g/t
HR3 is one small part of Bailieston. a) could easily be loads of gold at HR3 they just haven't found it yet b) there are a whole bunch of other Bailieston targets to go. Miles to go yet. Hence purchased own drill as will be banging away ALL YEAR and into next.
When the/a big find comes, the SP won't wait for you.....
JV deal and/or new super grades (the last whole of bag ones were great) at Creswick cannot but do one thing. The JV will come in my mind but CB IS going to get the terms HE wants.... or they can go whistle..
Tambo. Looks like it about to land. Don't know the history but people are not fighting over the licences for a laugh.
The prospects here are MASSIVE. There has been A LOT of moaning and groaning of late but noting much has changed here other than the SP.
In the meantime, POG has turned north again and the prognosis for POG later this year and into the coming years if freakin' excellent.... hence the Aussie Gold Rush in the first place. From today's price, a modest 10 bag/ 20bag in the relatively near future is so NOT off the cards.
Let him drill, let him deal, keep you shares, stop whining. That's the bigger picture. Over n out.
After yesterday's interview it looks like we are back on track, the only 'problem' being that we peeps are massively down (on paper) after the recent sharp fall in the share price. Hopefully we will see an ongoing recovery to at least 2p+ in the near term..
I think I understand what you’re trying to ask, and yes if Craig and team JV out Creswick and they find a nice sized deposit of 2-5moz then it would be worth a considerable amount more than where we are now, however with a JV you lose equity in project so that would have to be factored in. Industry standard is circa 20-30 percent, others may wish to correct Me.
I certainly wouldn’t write off Baileston or Tambo yet though. They could hold hundred of thousands of ozs of gold respectively and possibly even millions if we get lucky.
If the opportunity was just Crewick under a JV and that was it, and the drilling confirms decent resource worth pursuing then surely this is worth quite a lot more.... on its own right? Even if nothing found elsewhere