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"In the event that competing applications are received, each application will only be assessed on the details lodged with the application on the day it was lodged. In this instance, the department may request clarification on details however there is no ability to add further details to the application."
A shame that as ECR's position has no doubt strengthened since it made the application, in terms of owning its own rig and having circa £5 million in the bank?
Obvious question is what is the differentiator between other applicants and ECR... Ranking!
* you are a ?t and proper person to hold a licence; (TICK FOR ALL) * that you have an appropriate program of work; and (TICK FOR ALL) * that you are likely to be able to ?nance the proposed work and any rehabilitation. (TWO ASPECTS HERE, 1, FINANCE OF WORKS, TICK FOR ECR, DEFO NOT RRR IMO, I DON’T KNOW OTHERS WELL ENOUGH. 2, REHAB - LIKELY TICK FOR ALL AS INDEMNITY INS COVERS IT) The department may also refer the application to other agencies for comment and advice of any land and heritage protection issues. (SO HAVE YOU DONE EIA, TICK FOR ALL)
This really should be a slam dunk for ECR because the authority wants to see the expo and ECR can demonstrate autonomy with not one but two drills. The second multi-rig can go at pace with RC, analyse with the pXRF and then use the Diamond drill to collect assays for core analysis.
The only hold up they have is lab time but even then with the ability to break down cores it can be done by UPS!
The cash position will not be the differentiator, others will evidence cash. Imo CB will (should) use those our two key differentiators, own drill and speed of assay returns. The rest TBH is BAU and you really shouldn’t be applying without a strong case in the other boxes.
There are in fact 4 companies competing for EL007540: Balmaine Gold Pty Ltd, Mercator Gold Australia Pty Ltd (ECR), Red Rock Resources and Loddon Gold Pty Ltd. The application considered to have greatest merit will eventually be given priority.
Yeah he’s one of those CEOs that investors don’t particularly have a good word to say. I’m not a fan of his strategy but it certainly never stopped POWs share price rocketing last year, so each to their own. RRR have a MCAP OF £9m and with the numerous projects POW have on their plate like you say I can’t see them throwing millions at the Victorian Gold fields, but who knows.
I think that might set ECR up pretty well regards to Ballarat. I think EL006184 is due to run out at the end of 2021, but with the historic work over the years and the ongoing campaign, they’re certainly proving their worth in the license.
Balmaine , who is a subsidiary of the Ballarat mine is the other one AG. Ballarat had to hand the lease back (compulsory) as they had done nothing with it so maybe that will go against their current re- application. RRAL I have no idea about (POW and RRR joint venture) as they have been granted some leases surrounding it and whether they have a better case than ECR? Paul Johnson I know nothing about in his POW position other than they have a large amount of plates to juggle.
Yeah, I don’t think the decision will be based on “the bigger the company, they’ll be awarded it”
They’ll choose a company who will have real near terms plans in developing those licenses, and not just a company who wants another asset in its portfolio to gather dust
If ECR can add this to its CRESWICK package, I think we’ll get a JV away. The historic gold mines in and around that license proves why ECR went for it. 11moz produced in the Ballarat area alone, this is why the majors were probably holding off on JV talks until they know the outcome of this.
Until then, add ECR can do is chip away at EL006184, slowly Strengthening their position and proving to everyone, the high grade potential spans across its licence, and isn’t fixed to just one area. 80g/t 23g/t 9g/t 9g/t
Is a brilliant start. Let’s keep the pressure building, in our favour.
Be good if they do AG , all relevant I would think and Craig saying in the one interview that when the inspector turned up they had one of the cleanest sites they had ever seen , all important the closer to Ballarat they get to tick the right boxes .
You can see that on this image with the (*) highlighted as a "Competitive bid"
I'm pretty sure the other companies in competion with us are RRR/Power metals & another company which i forget. But as stated in the original post by LO, i think the company are fairly well positioned to put their hand up and take on this license. Our own in house drilling capabilities and 3 licenses accepted above with a NE trending Dimocks main shale running right through the lot of them.
I think it would be good to see news on the licence process and clarification on this 'new' drill rig next week (even a tweet) That could provide the much needed sentiment improvement beyond another announcement of gold in the core.
I didn't expect ecr to get those licences close to Ballarat with the competition but to be fair with the RC drill they can do everything they have highlighted in the application and will have total control over what they do and when (within permitting guidelines). Should they get those licences then the JV will firmly be back in sight . Craig will be itching to say something if that is the case.