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I would have thought cb had the decency to let us know what this funding is for by now, just saying its for ramping up drilling operations isn’t good enough, thats what we were apparently doing anyway? His behaviour this year has been very shifty, from pumping the sxxt out of the share to complete silence. Weve had this drill since Nov and 5 months on not a single result, you cant sugar coat that. I hope he knows what he’s doing and makes me eat my words I really do.
@AG1989. Good morning. It was my own stupid fault last night. On the GGP board - i mean - i didn't start this lot on here. I should have just kept my mouth shut. Yes - settling into my new place OK. Thanks for asking.
@jwoz not COPL I was referring to Kistos plc
Haha JTB. Stick the kettle on again, I could talk ECR all night. It’s far from perfect but I don’t need perfect to build my investment. We’ll get there. Hope you settled into the new house well mate.
We have discussed and debated this placing in quite some detail since the RNS. Something must have changed for us to go from RNS in January saying no placing to then end up with a placing. If ECR had been dormant since January you might question the change in its stance. But in that time ECR has been very active in 1) drilling, 2) advanced jv discussions 3) pursuing new licenses and 4) discussing legal/licensing with potential jv partner and/or the ERR. I think there is enough activity here to have caused a change behind the scenes which has resulted in the placing. Therefore, those who are saying there can’t be any positive way to spin this, and indeed all of us, should reserve judgment until we know more. Clearly for many on here the ‘ramp up drilling explanation’ in the RNS needs more explanation from ECR.
Is it a full moon tonight? I came online to check the board while meaning to put the kettle on. That was hours ago. There's stuff kicking off all night on this board. The usual stuff on the GGP board although this time i was in the middle of it. Poor ol' AG1989 sounds worn out. We've got a nice thing going here. Hopefully a quiet day tomorrow.
How on earth anyone here with 0 inside information is able to assume he/she is in a better position than the CEO to make a decision is beyond me. Just reminding - ECR already turned down 2 JV proposals because Craig thought the offers were not attractive enough, pretty sure he has not lost his mind since.
Are you still invested G star ? No judgment here, I’m just curious. I knew the RNS wouldn’t be welcomed by all and your going to see casualties in that. I do believe the funding statements were and are misleading to the investors. However, from a personal stand point I don’t see this blip, over ruling the reasons why I’m here for another 18 months. Each to their own though.
I know you’re not having a go AG, either am I. I follow you on twitter and here so I know how you’ve felt about this. When the RNS was released I thought “let’s see how it goes, see what people write” i then wrote I thought the RNS and what has gone on would batter investor confidence. But the more time has gone on, more I’ve thought of it, the more I’ve thought something really isn’t right about this, it’s beyond battering investor confidence. If the holes are dust, then we need the money to ramp up drilling, get another drill. But this would potentially undermine the initial research in the prospect itself. If the holes are quality then why sell us bargain basement when we already had £4m to keep us going.
I think we’re just going around in circles. I don’t know what you want G star? And I’m not having a go because I understand your frustration. I just know once Craig has clarified what the raise was for in better detail, there’ll still be unhappy investors. They can’t unrelease the RNS. It’s a decision the company have made, one they’ll have to stick by and one, if I’m keeping my investment here, which I am, it’s a decision il have to accept in some form.
JTB - it’s not a defence of the company because the comms are pitiful. The material recycled on Twitter is a joke and Craig’s and the companies PR approach could do with a makeover. A makeover which probably wouldn’t require much funding or too much effort.
But when I invested, I knew this and was content. I was investing in the projects, the growth and other factors. PR is just a bonus factor for me but yeah one that could do with some work.
I don’t think raising £2m at 2.2p is anything for the company to be proud of. I think it’s selling us out on he cheap bargain basement. The more I see the more disappointment I have with the company. We could have burned through £2m, still had £2m in the bank, proved the resource with a years worth of positive results and raised more money at a much higher price.
IMHO when the word 'comms' is used we're talking about 2 things and we need to separate them. There's 1) the 'radio silence' thing where people don't think we're being told enough or it all goes quiet when we've been led to expect news. TBH i don't really have an issue with that side of it. Then there's 2) what i would call the quality of investor relations - the ECR or is it Mercator website muddle, the we'll only respond to you if your email is worth the effort thing and other touchs that let the side down. I DO have an issue with that. I reckon CB as a CEO and he knows his drills and geologists BUT the investor interface is 3rd rate and it needs to be improved.
star786 - I couldn’t definitively say yes or no. I just can’t see Craig Brown openly informing the market that he’s received results, and then withholding them for 6-8 weeks if he knew he has to release them
I do still have a fair few questions or issues I’d like Craig to address. It hasn’t been a pleasant couple of months but I can’t imagine being invested in any company, where you don’t have to ride out the choppy waves.
The SP is still up over 300% since last summer without actually releasing any assays on an official capacity in that time. I think it’s in a good position to grow from this point and generate large returns for shareholders.
The end goal is production. There’s no escaping that. That’s the dream, the aim, the goal for every junior explorer. But I’m invested in the here and now. That’s the beauty of finding Greatland gold early, ECR early, Oriole resources early. You take on that risk, you have to factor that in and play it out. But once the exploration kicks off and the assays roll in, could be very soon, this is where the gains are made for me. Before we even have a sniff at production, you could see 5-10X the current price.
We are what we are, it’s going to take time and I’m expecting a bright future for ecr and my investment, the least I can do is support the company through its quiet periods and “investor uncertainty”
"Fully funded" - doesn't mean declining a decent opportunity if such arises - business is dynamic, risks and opportunities comes and goes, if CEO decided this would be a good move for the business at the time the opportunity came, I trust him to make the call more than anyone else, and I am quite sure he factored in that existing share holders may be unhappy in the very short term. For the long term business growth though this placing will be negligible, extra 2M in the bank provides a much better cushion as well as a much stronger hand when negotiating JV and future exploration plans.
AG , I think that legally market sensitive information must be released as soon as.
And weeks after that they were received. 6:15 in
Why they haven’t been released ? Who knows. You can speculate all day but it doesn’t for a second mean they’re bad results or Craig has mislead us there. Probably not ideal informing investors who are hungry for news, but he was only stating facts. He had no obligation to inform us they’ve arrived. There seems to be this unwritten law on these boards about “market sensitive information” and releasing it straight away
Considering he received these results 6? Weeks ago, that to me proves that theory wrong or the company can withhold data for a set period of time.
Sorry AG I meant assay results, from the 12th Feb RNS;
"The drill core from the first hole was transferred to the Company’s processing shed in Bendigo, Australia where the core was cut and analysed following which samples have been delivered to the laboratory today for assay analysis. The samples will be processed by the Gekko’s Assay Laboratory facilities in Ballarat, Australia and the assay results are expected in the coming weeks."
Star, where did he say we would have drill results in a few weeks ?
He said the assays would be returned in a few weeks which they where. He then states he hopes to release them very soon. Our very soon could be a week or so. His could be 6 weeks.
I’m glad too. I don’t want 6 separate RNS reports fading away into one another. One detailed 6 hole RNS is what I’m looking forward to, positive or negative assays. I don’t think they will, but imagine if all 6 holes were dusters, would you still want the company to release 6 separate RNS reports, one after another, as and when they get the results ?
I agree - we need comms. For sure.
Jwoz , copl were constantly communicating and still are , even in suspension.
I agree with a lot of posters that patience is required, but when we are promised things like fully funded and drill results in a few weeks. We have every right to be miffed.
If he had said drill results in a few months and extra funding for purpose a, b and c we could live with it.
Let's see if Newmont, or AA or Rio show up on a TR-1
LF i suspect you are talking about COPL .
They had their fair share of worriers and naysayers in dec and jan. i know as was invested and tapped out early in the end. Feels foolish now but the fear and negativity took hold. And complaints about comms.
Heres a diff situ too. CB said an awful lot word count wise away from RNS but released very little of substance via RNS. Lots of talk of full funding and of JVs etc etc to keep people tantilised... but no follow through of hard fact.
Only sensible options here seem to be that a) a major wanted a lots of shares as part of a JV structure or b) something they found has got them so excited they wanted to double pace of drilling
Just needs some confirmation through official channels
All IMO of course
Star - I’m sure we were when he said it - life and business move on, things change. You either trust why you invested or you don’t. Personally I still do.
LeFlic, our CEO here said he was fully funded....
On 25th November I invested in an AIM listed IPO. The CEO did one videoed interview laying out clearly his strategy. There was then what folk here would call ‘ radio silence’ until a RNS out of the blue advised a reverse take over deal which led to a suspension as are the rules. Other than the RNS ‘ radio silence’. Today a further RNS advised of a reinstatement on May 17th and notice of a further placing through PrimaryBid. Again as yet no interview or further statement. There is no Twitter account. Yet shareholders are delighted with performance and prospects, they have faith and trust in the CEO based on past performance with other companies. It is not the mining sector it is energy but it is AIM and there are clear comparisons between CB and this CEO. So please stop bleating about lack of communication etc If you have done your own research you should have confidence to back your investment and your bod. If that’s not the case why are you here. Rant over!