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Shares drop and shares rise at different times. But investors are in a far better position now topping up/gaining entry at 1.7p, than they were at 4p 9 months ago
The most obvious statement in the world. But in that time, the company have acquired another drill rig, more land in Australia, drilled 13 holes at Bailleston and 13 holes at CRESWICK. When you break it down and look at the financial and hard assets the company have to their name, there’s a lot of value to be had here.
I did go through a period of time, I was losing faith slightly in the process. The small widths and low grade material to me didn’t seem all that promising. But when the company are comfortable and confident in buying land for future mine development, it starts bringing the story together. A lot of assays awaiting.
It really is one step at a time, but far more comfortable with my holding lately. A lot of work to do from this point but there’s no shortness of expertise on the ground at ECR and when that second drill begins to turn, the results will come thick and fast.
I’ve designated a decent proportion of my SIPP portfolio into investing in the Green/EV/renewable energy sector. But thinking about slicing that and topping up here & GGP. I can be very indecisive at times, swapping and changing but for companies with similar market cap values to ECR, I can’t really think of any with better fundamentals pulling together than here. 1.5p seemed like a brilliant opportunity, you’d have to say the same about 1.7p
And yes, the other licenses could be announced at any given time, giving more substance to a possible JV.
AG, Someone is putting themselves in position...been a number of £20k buys over the last week or so with the MMs dropping the SP to accommodate. Just a waiting game now for the next set of assay results or license news.
Yeah just on the eve of a new drill arriving too. The pace and momentum is certainly keeping up. The company haven’t let their foot off the gas since they began back at the start of the year.
Creswick has bags full of potential so definitely a welcome tweet from the company. They’re confident, they’re not just making the right noises, but beginning to make the right moves (property purchases with future developments in mind).
We may not get assays for 3-4 weeks or we could get a couple of holes as soon as this week.
Put yourselves in the position, to give yourself the best chance of success. Can’t fault the effort. Let’s just hope the assays match accordingly.
One thing wasn't adding up for me AG and that was the 40 mtrs a day comment if (I thought) we were only on the 10th/11th hole so yes 13th was a pleasant surprise and the fact that they are seeing 'shoots' in the cores.
Brewing Lane property they seem to have moved quickly from the 003 assay results , to soil sampling the property to securing it and similar move with Bailieston so fingers crossed on that one too .
Huge delay with the assays it seems so a lot to come over the next couple of months and by that time they will be drilling or have drilled on Brewing Lane and started on Nagambie after completion on 8th October there.
New drill should be arriving too so the pace is picking up.
The gains and growth in the market cap and company will come long before the economics of mining Creswick come about. That can be negotiated at a later stage, and will fall into the feasibility study in a couple years time
If we prove up these shoots, by drilling none stop, like ecr currently are, we’ll be a lot further on than a £15-£20m market cap. Release the resources, and if economical and mineable, we then progress from here
ECR is an exploration company and it’s providing an exploration service to its shareholder. If that exploration leads to Resources, on numerous projects, the mines will follow and the market cap will grow long before the company have extracted their first ounce
My take from this, they’re on the 13th hole, at least 3 more than I thought was planned and with the early indications in this campaign, combined with historic 80g/t assays, I’m really looking forward to these results in the near future. Small steps…..
Morning all. 99% a lurker rather than poster, but here for longer than most. The thing i like about this particular board is its generally balanced - a good mix of optimism vs realism. Im an optimist (i must be, I've been in this since pre Themac days) However, right now and after the "fun times" of the last year, it's important to be realistic. Debate is healthy and helps stay grounded - a "negative" comment doesn't mean the poster is a shorter, just that they could be applying some critical thinking. I'm also in EUA. Let's not devolve into a board like that...
"adjacent to high-grade hole CSD003 and close to Brewing Lane property" "It is anticipated that monies will be paid, and completion will occur, on or around 27 September 2021, and further updates will be provided at that time." (on the Brewing Lane property).
They will be on there asap and Paul the shorter will be off elsewhere, he is running scared folks , getting desperate.
PFG, You are spot on with the AISC, Although taking a higher AISC of $900 would still give a £10m profit per shoot ....and we have multiple shoots. So if/when proved up there is potential profit on the shoots alone to be multiples of the current mcap.
Have the feeling that the next lot of drilling results could see the SP rise here as the ECR team will have done their own assay work and will have made the land purchases on the basis of the results they know (they only RNS the independent results). A company definitely travelling in the right direction.
TS LOL. OKAY YES technically a shoot might be worth $20m, but it's unrealised - to realise it you must produce it. BTW I never disputed the value I merely stated people are ignoring the production costs.
Paul, The original statement was correct. A £20m shoot is worth more than the current £17m mcap. No-one said that the profit on mining a shoot was more than the mcap (obviously it would not be mined for free)......seems you are trying to jump on every statement on the BB and put a negative spin on it.
Paul, ECR's Mcap is circa £17m, if multiple shoots hold £20m or so as our geologists mentioned then you can factor in a meaty £3m for extraction cost PER SHOOT if you like and it's still our entire Mcap per shoot. So yea, not ignored.
‘Assay work on samples’ I presume means either they have them back and are interpreting them or they’re going by the first set and still awaiting fire.. either way it’s good to know further drilling is supporting the bigger picture.. more ‘shoots’ = more Potential $20m pockets (according to AJ), or put another way, each shoot/pocket is potentially worth more than the entire market cap of ECR, and that’s forgetting Bailey, Queensland and the rest.