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The positive? At least we know where not to drill! I reckon we won’t drop much more than this now. His next interview will contain some positive news and intentions as to where we are headed. Put it this way with that latest placing if they thought this was a dead duck they would have stayed clear. Fortune favours the brave - enough said :)...
What's the downside? Less than 2p. Lol
CB being interviewed where is this info on Twitter ant find it anywhere about Allen green ??
Loch, spot on. CB is Walter Mittey or a charlatan
Will take my money out over time into a Producing company . #ZPHR. #ECHO
Craig Brown has a few million shares abs that’s it Basically no skin in the game
https://twitter.com/alan__green/status/1384574941480239105?s=21
Alan Green asking for questions to be put forward.
Anyone not a Twitter user want me to put anything forward?
Angoose - thank you. In no particular order, mine would be:
1) How close are ECR to a JV at Creswick, are they still in "advanced talks"?
2) Are ECR on course to meet the licence conditions at Creswick, or will they need to renew the licence? Is any renewal a cause for concern?
3) What is happening with new licence applications?
4) After issuing an RNS to investors in January 2021 saying no placing was expected, what happened to cause the change of mind?
5) Drilling plans for Creswick and Baileston i.e. what is the additional money to be used for?
6) Is ECR looking to purchase a second rig?
5)
Many thanks Angoose. I think they cover most of the key questions debated on here in recent days/weeks. It’s good that CB is coming out and giving an interview and hopefully he can clear a few things up. Most of all if he confirms the JV is very much still on/close, I think that will help recover some, if not most, of the lost sentiment.
Bit of a disaster today that is not necessarily all related just to the results but as many other expressed, the hype and expectation buildup some investors (me included) had over the past few months created the illusion 24k gold bars just lying under ground.
Back to fundamentals - share is oversold - very low risk at these prices by only looking at the financials - so an easy strong buy for me (added today, and a bit upset - yesterday as well)
@Angoose - I think that none of the questions raised so far touches the main concern of most investors here - communication. I would suggest to try and submit (sorry - no twitter) something along those lines:
Over the past few month while ECR was busy drilling, some investors felt regular communication and updates (formal or casual) was missing / inconsistent, can you please clarify and set expectations as for the nature and expected intervals for future communication?
It's all very well coming up with a list of questions but theres a slight problem....There arent many investors left that will believe the answers based on the last 4 months of groundless hot air and deception . Trust has been eroded here on a massive scale .I also believe an imminent Jv is also tripe . I wouldnt believe a word of what comes out of Cb's gob in future .Not a word .
Disagree with you there Loch, improvements in communication could and should be made, I think you are taking this to the extreme, company is well and sound, fundamentals have not changed, we progressed a bit today with a mixed bag of drilling results. It will turn quicker than you think and once it does - negativity will subside.
That's all very well but the CEO has still deceived investors . The evidence is in the interviews .Especially with the placing debacle . I dont also believe theres an imminent Jv either .I believe they are going it alone for the foreseeable future .Hence the fundraising.
@Loch - I disagree, never deceived anyone, bad communication that some interpret wrongly.
I believe the placing wasn't planned but rather he received a late offer and decided to grab it. I have mentioned before "fully funded" doesn't mean declining a decent offer if such arises. in hindsight, looking at today's price the placing was a blessing, I for once feel comfort to know we have almost 6m in the banks and our own rig.
GoldenOp
‘ looking at today's price the placing was a blessing, I for once feel comfort to know we have almost 6m in the banks and our own rig.’
Today’s fall was exacerbated due to a lack of confidence in CB, had he not gone against his word by doing a placing then we might have slipped and if a placing required so be it, if it were signposted as to why, ceo would have had his integrity intact and we could get on with things.
Once trust is lost it’s not an easy thing to get back. He will do his podcast, many will use any rise to sell into. His ineptness has really set us back.
I don’t think the frequency of communication has been a problem. CB has given regular interviews in recent months.
@Loch - all the points you mention leads to one thing - recent communication inconsistency. I share the opinion things could have been done better. (multiple positive interviews, posting visible gold (building expectations), followed by (relatively long) silence, followed up by a surprise placing, followed up by some more silence and today results that I believe were not that bad for first results, but partially because of the expectation and partially the silence in combination with 'quick rich' nature of some hyper short term investors led to the exaggerated selling of today.
About Craig's reputation - need to put things into perspective here:
1. The few contributors/investors in this forum and on twitter whom are darkening the CEO - luckily they are the very small minority of share holders and no major/big investors pays attention
2. Deciding the overall reputation (of one of the most reputable people in the industry) only because one is not happy from 3 month SP performance and stream of information is pathetic
When we progresses - this moment in the history of ECR will be nothing more then negligible
CB has lied through his f-ing teeth .. to support a placing while fully knowing the results were mediocre at least .. Where`s the visible gold for ****s sake ..
Skyline - do your research on how ‘ visible gold” is interpreted in the gold mining industry and you will realise the folly of your comments.
I don't know why folks are surprised by CB's behaviour. It is common across AIM imo. Let's just hope he wasn't exaggerating when he said we were close to a JV at Creswick subject to licence information and a few legals. No JV and we'll be looking back at 1.87p being a decent exit price....
do you not think that JV less likely at the moment? I think he wants to get the drill rig running for a few months now which is why the raise. Get a better position for a JV deal?
"That's all very well but the CEO has still deceived investors . "
I actually don't think he has so much as people getting far too carried away as usual. And building the CEO up into a figurehead of greatness before he's due that title.
I think the potential is absolutely all there, that's what he's there to sell and that's what he's done. What he hasn't promised is fast and proven results. I said weeks ago, prepare for neutral results or not so great outcomes in mining, and it just got buried under mountains of 'Craigy will see us right.' You do it to yourselves sometimes!
All he's basically done is big up his pile of earth which is what all AIM CEOs do. If you've been here any length of time you'd realise not to go gaga on anything they say. Temper it with variables that get in the way of dreams. Assume even on great results this market will drop a share, and lift it on no news, or a something-and-nothing RNS.
Golden op .... Claiming that investors are " pathetic " in losing confidence in Craig Brown is in essence , also " pathetic " .Try telling that to the people that trusted him .Look at the placing , that in itself was " pathetic " .All this talk of a Jv was in itself " pathetic " .A 65% drop in the Sp ( and counting ) is " pathetic " .Mediocre results right after an unnecessary placing was " pathetic " .I'm glad you used that word as it has given me ample opportunities to use it myself !! Investors feel deceived by this CEO and the evidence for the prosecution is pretty crystal clear .Look at the bulletin boards.... it's all around you . Placing shares yet to be introduced on top of everything else too .Yes , you're right , CB has played a blinder hasnt he ??
Maybe time to get out this share then, sounds like your investment case has broken down which is one good reason to exit
And I don’t understand what you are trying to achieve now... comfort from mutual dis-satisfaction of a collective of stung shareholders who got in high based off high hopes?