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More of a Meger, with Agnico.
Who are they going to @ when Kirkland is sold?
Expect an interview or clarifying RNS at some point. Other two properties complete about now within a week of each other so there will be an update there and the new drill to arrive .
Don't know how long it takes to commission the drill , seemed to take ages with Midas, anyone know?
Lots of talk/expectation about M&A in this sector. I was listening to the CEO of Newmont and he was saying that Newmont are actively looking at acquisition opportunities.
Paddy- the ground around Fosterville really proving its worth. Fosterville South with some nice hits & E79 Resources, after reporting 11m@160g/t earlier in the year, have reported Visible Gold in numerous holes yesterday
Very exciting area and ECR has its own little slice of paradise. If Newcrest can secure Kirkland Lake it really shows the firepower they have at their disposal. Very exciting
Lochran I agree with you totally.
LOL at "either that or they've gone bonkers"
Interesting link just posted on the GGP board by Grizzle.
It seems that Kirkland Lake are up for sale and Newcrest are emerging as a top candidate to secure it - that could make the ground around Fosterville even more enticing.
Something to keep an eye on - ATB Paddy
It is to me , inconceivable that they are not now fully committed to the projects .You dont set up camp left right and centre for nothing . To me , with the money being spent all over the place , Ecr know what they have already .Its just a question of time now . I'm sure they want to say a lot more about their intentions. But with the large amount of money spent already they dont have to .They have a long term plan going forward now . In conclusion , Ecr are going to be mining .They sure as heck arent doing all of this preparation for nothing .They are setting everything up for the future. Either that , or the entire company have gone bonkers ! Happy to see the projects out now .Their actions in the past few months give a clear message without putting their foot in it ." We are preparing to get the stuff out of the ground on an industrial scale " . How many more signals do we actually need ?
Made me laugh AD , but it is true , the interviewers were below par that day I think and David doesn't interview well .
However, he is adamant that he has lots of contacts with money , if that means bucket shops like Novum Securities then he needs to rethink the strategy lol, anyone can get money off them costs a company their reputation though.
Hopefully the property purchases and leases are creating a good footprint and opening up government and banking loan opportunities for ECR from now on.
Looks like they will be drilling on their three properties now whilst waiting for assay results , think they have over-egged it on this one though with the quartz remarks the owners could have 'planted' it there to help sell the property ;-)
Difficult is an understatement - why did you share this !? Felt like I’d just been tortured for a year
Err... at least this one has got some buildings on it which can be utilised. And at least no one can accuse CB of losing the plot, he's got three new ones!!!
Hopefully the buildings they require can be developed with government loans rather than diluting shareholders again , but as I said I won't speculate on anything until it becomes absolutely clear what they are up to , either by RNS or in and interview.
The 'board' consists of David Tang , Craig Brown and Adam Jones.
Difficult interview to listen to but persevere if you haven't , David Tang being interviewed by Fairbairn and Russell in June 2020 https://stockboxmedia.com/podcasts/david-tang-chairman-of-ecr-minerals/
Another move which initially made me think Wow!...I hope you know what you`re doing?
But having read the RNS again it made me think Wow!...what a move!
Considerable savings on accommodation costs, providing convenient co-location of employees and consequentially a substantial reduction in travel time and expenses.
Considerable savings on renting the core logging premises at Bendigo.
Quartz visible at sites across the property with exploration licenses planned.
Savings on power supply... connected to the mains power supply with an additional 3kW Solar system with batteries and 3kW wind turbine, the property can be powered "off grid" as it has been for the past 10 years, along with an independent water supply connection.
Potential to build more accommodation on site as well as bringing the Bendigo storage and core logging activities all onto one site.
All makes perfect sense.
Also the property market data suggests prices will be increasing for the foreseeable so its another investment in additional assets if nothing else.
I have a sneaky feeling that the JV discussions came to a halt partly because the potential partners held the card (poker analogy) that said..`but you don`t even own any property for us to operate from.`
Maybe I`m just reading too much in to that, but it certainly makes any potential JV partner raise an eyebrow and look at the proposition in a different light, and a different valuation!
Money put to good economical use and certainly shows that ECR are not fooling about and mean what they say about building a mine, whether alone, or partnered.
Lastly, as someone else pointed out, warrants could come in to play soon bringing in more cash....all they need is some good results from assays to pick the share price up and its all systems go.
Can't disagree Trek, it's an interesting one and thanks for Clarifying about the finances and routes to more cashflow.
Not speculation, or rumours, or anything I've heard or read on twitter, but my distinct feeling lead me to believe whether this is driven from a JV background and centralising proceedings moving forward. Or, whether it's just ECR continuing to get their ducks aligned and feel it's a more efficient way to operate
I think this is a smart move. They will also save on the Bendigo rent.
I am not worried about the cash, that’s saying something! Lol! Well at least not yet. As I have posted before there is a route available to another £3m by getting the SP to 5p.
Even if we get to 4p that should free up £1.7m.
Building these sound foundations whilst they don’t feel like it now will benefit us longer term. Especially if we JV. Accommodation will then be very attractive!
CB is obviously very assured by the pXRF results. Like I have said they would have been calibrated against the lab assay returns so the geo’s have an enhanced level of trust in the readings.
Well something has sparked all this action!
I have a significant position in PXC and posted there today how the MM’s Machiavellian actions virtually fleeced holders on a SP drip down then the stock is marked right back up in one session on 50 trades!
I really see the same happening here. We could see a sudden lift. That £20k buyer certainly thinks so!
It always amuses me that some investors won’t pay 1.7p but will happily pay 2.2p and in between no news has arrived either way! That’s the game we are in here unless of course you buy and forget for a year or so.
It doesn't raise any eyebrows to me, but I've just read your post Happy H and i agree, there definitely seems something behind the scenes driving these purchases forward, something for me not entirely reflected in the Drilling assays to date.
3 Holes recieved for Cherry Tree, "with 2 holes pending" and we buy property with plans for a possible future decline? Those property purchases will need to have been in an area with significant Geology which points me to think the ongoing drilling has thrown up some very favorable results or signs. time will tell
Plus Upto £1.7 million Warrant money Due ...
when does commercial rent ever go down :-)
ever-increasing rent... lol ... we've only been there 5 minutes
How much do the company have left, or will they have left after September is up?
"As at the close of business on 17 September 2021 the Group had £3,400,000 (USD equivalent $4,650,000)"
Still to be paid "The purchase price of the property is AUD500,000, which is to be settled in two tranches, consisting of a AUD$$50,000 deposit which has already been paid and the balance to be paid on 27 September 2021"
"The purchase price of the property is A$750,000, which will be settled in two tranches consisting of a A$75,000 deposit, which has already been paid, and the remaining balance which is to be paid 30 days from the date of sale."
I assume this is still to be paid, it just says within 3 days of the sale.
I actually don't mind these purchases as it shows intent for moving forward with future operations for the company. But the finances did come to come. £5.8m in April after the fundraising, when the company have settled the figures for the other properties, your probably talking £2.5m-£3m.
By no means skint, and still funded to continue with ongoing activites, I'm just looking at Catalysts in the near term, so when extra fundraising is required within 12-18 months, we can do it without introducing another 300-400 million shares to the market. Still remain Bullish about the Geology of Creswick, it's up and coming Results as well as any JV movement. 3 Property purchases and 2 Drill rigs really sets the company up long term in terms of exploration and future planning, let's hope it all comes together to deliver some near to mid term Resources
Snip, see my post above. Just refreshed the thread on another tab, the finances did come to mind but moving forward, the company believe it will strongly benefit them
Accommodation costs will be cut, no need to pay the ever increasing rent in Bendigo, 59 acres to explore and the ability to expand the number of buildings on the site if required....sounds sensible to me.
And confirmation there is still £3.4m in the bank AFTER this purchase.
There comes a point when you start to feel we share holders need some sort of clear statement about what the heck is going on behind the scenes.
The obvious and perhaps only explanation is that our BOD see things as being far more advanced than we share holders have ben told.. which is sort of a good thing... but this activity really isn't what you expect from a junior explorer that theoretically on paper is still far from having a clearly defined mineral reserve...
I really think we need some sort of statement about the wider picture and what is driving all this "unexpected" expenditure.
Is it possible some sort of NDA has been signed with somebody to keep the share holders and markets in the dark whilst a plan is executed?
Sales pitch video available here
Another Tangible Asset...
AG 1989, you have no problem with them spending all this money on property?