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Of course they are Blantyreboy, it was an orientation initial drill to make sure they were hitting the right spot , nice that they found an extra 8 quartz reefs in the initial hole albeit smaller than the ones higher up. Early days yet of course but the first core was good by all accounts and the RNS itself was worded showing some excitement and a big helping of relief. They will have some idea of what the other cores are like but it is early days as 7 kilometres is a lot to go at and a big ask to prove it up with the current holes . I do get a feeling that what PI's expect and what seasoned miners expect are two different things. I remain impressed that they got so much information out of the first hole, that they hit the spot they were looking for and hit gold to boot . What were the chances of that?
PLS - CB is definitely not holding anything back. The RNS expressly states: "assay results are awaited in respect of holes CSD002 – CSD004. Following receipt of additional assay results and our in-house geological interpretation, our findings will be provided in further announcements." We, and any potential JV partner, can really start to get excited if they continue to intercept gold in these additional holes. I would imagine we might get additional results in circa 4 weeks.
Metalmax online exposure has made a lot of people realise that all that glitters is not gold and SP's will be punished where investors perceive that they have been sold a bum steer. I have made money on this share a couple of times but now stuck nursing a loss. I would like things to work out for all of us, believe me but some of the antics of CEO's in AIM are now sticking in the craw. CB could do us all a lot of favours and release the remaining assays he has been holding close to his chest.
I’m intrigued to know the reason some are selling at 1.75p after today’s news. I’m genuinely baffled as to why a high grade strike on the first hole with many more to come from both licenses is the cue to exit. Intrigued and frustrated.
I think decent drilling results will help CB restore some (of the lost) credibility and believability going forward. Indeed, the same goes for the whole company. As investors here, in recent months, "the talk" was nearly all we had to go on for large periods, and therefore CB's spinning/words had added significance. Now with the drilling of both projects, its the results that will do most of the talking and CB isn't going to be able to spin as much as in the past. He's raised the funds and now its down to the truth machine(s).
The Dimocks Main Shale has always been one of the Main reasons of excitement for me, and why I`m holding for the full term. First drill showing decent Gold already is not just a quirky stroke of luck, and to think we have 7km of it on our license is very encouraging. Can`t understand people selling at 1.77p when further results are due soon, but each to their own I suppose. Risk/reward at this low level, with what we have, is very attractive in my opinion.
What interests me is this was intersected around 110m
But back in 2019, the DMS was intersected from 5m with the high grade 80g/t coming from 15m
Significance being, limited strip ratio before you start recovering high grade Gold throughout the DMS, even 110m in the grand scheme isn't all that much when you consider companies don't start hitting Gold until 500m down
Taken in isolation, you might question the thickness. But the significance lies in the fact that we have found high grade in another region of the DMS, and goes towards proving the concept that the DMS is prospective for high grades at shallow depths. The market might not appreciate this, but I am sure the potential JV partners will. Didn't think I'd ever be saying this, but an interview from CB to explain the significance might actually help matters? But maybe it makes sense for him to do this once we have a fuller set of results from the remaining holes. Lots more drilling to be done at CresWick (think they were looking at doing around 2000-3000metres in total?).
Welcome back Jtb - didn't expect we would see you here again, but nice to have you back. Plenty to discuss here over the coming weeks and months. We also can't have you missing out on that JV now can we :-)
junior explorers, and to a lesser extent the whole of AIM is as much about short term sentiment as long term fundamentals.
Those of us with a time frame and horizon measured in years can see the potential in ECR, and will probably continue to sit on the shares we hold, thereby doing nothing for the share price.
For those looking for a short term trade then it is likely to be years before we start making a profit from selling gold and that is not guaranteed. Until then short term sentiment will dominate. If everyone believes that good news will push up the price then traders will pile in and make such beliefs a self fulfilling prophecy. However the arrival of actual news (good or bad) invariably hints at the fact there will then be another wait until the next news arrives and so will always be a trigger for some short term traders to move on.
To me that says there are no warrants left and any shorts trying to buy back (they always look after the shorts , then everyone else , then give the dregs to retail). Traders will also be trying to buy now as it has hit the point where they want to.