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The clue left up on Twitter..
The Penny Will Drop .. Left Up For 7 Days ..
It would just be good to have greater transparency. We get a lot of fairly hatstand news on twitter ( usually the same old waffle ) .But we should also have more relevant updates sometimes too .Expected assay results instead of the phrase " very soon " .I think we have encountered that phrase before ? More relevant and transparent information would be good .I've never been a big fan of " cluedo " , personally . The twitter interview ramps are all very well but ultimately they still dont tell us that much .
Concur with Lochran re twitter news cash. The visible sight of a sulphidic quartz vein does not equate to gold present in commercial quantities although I suspect because of its proximity to the Kirkland mine it does. Note the RNS Assay result first sentence re hole CSD002.
"CSD002 drilled through the projected fault with associated significant quartz mineralisation at a depth of 108.5m. Assay results show this section of quartz to contain no significant gold mineralisation despite visual similarities to the gold-bearing quartz in the first hole. Drilling passed through further quartz and pyrite at a depth of 173.2m. Gold is present within this structure, with assays returning 1m @ 4.78 g/t Au from 173.1m. CSD002 was drilled to a final length of 215.2m."
Re Twitter. .... Most Tweets Have Lead To Subsequent Announcements ... Sadly Without Official Rns’s ....It’s The Best Anyone’s Going To Get ...Cluedo It Is Or Nowt ...
Not sure I’m totally buying the ‘assay’s delayed in lab’ narrative as much as a few weeks ago. If this is genuinely the labs fault then it’s becoming damaging and surely subject to some form of compensation? Some of the cores were sent over months ago! God help the recent cores! It’s just got to be something ‘else’ surely?! NDA?!
Blimey max , just before you posted that the thought went through my mind but it is always the case that if something is price sensitive then there should be an RNS , where's Colin , he will know!
Playing Devil's Advocate (to my own post) however, it's conceivable the results are all duff and haven't been posted for that reason.. BUT, this would be price sensitive info that would have no bearing to an NDA (because an NDA wouldn't exist if they were duff) so would surely have been released?! Also, I strongly doubt ECR would have snapped up all that land if the unreported results were bad, they'd be selling dreams of Queensland and beyond and lessening their exposure. They also tweet about how their ground is similar to the recent commercial mines. I'm totally baffled by it all, we need answers.
Yes beginning to think then when Craig and the Geologist in that notorious "chuckle brothers" interview rashly stated we could expect weekly updates that he actually meant one week per year
The one per week comment was made in mid-June and we have had 16 RNSs since so not too bad (I'm sure when they made the statement they not contractually obliged to produce one each week until the end of time).
If they has the drilling results returned promptly they would probably be in the 20s...if they don't have the results they can't just make stuff up just to keep impatient shareholders happy and 'tick the RNS box'
The assays will come.
It's an enigma or all total b/s and we have are victims of one huge deception . I note that EIS payments are now being received but don't think that ecr qualify looking at the criteria
The one week comment referred to Drilling Results not Real Estate announcements etc
Every AIM board is the same, we all want more and more information. I am very excited about of ECR and like CB alot and the way he operates. I have invested in companies with sh&te CEO's who gave out lots of RNS's and we wish they handn't.
I am still in accumulation mode and have not quite reached my target yet. Just waiting on some funds to land. Very envious of Colin Braidwood......:)
Couldn't agree more Suthy, the observation here though is that it was the CEO himself who set the communication expectations re drilling results not the shareholders
And just to clarify. I don’t have Twitter :)
Craig Brown and no one else set the expectation of releasing results every week. We have every right to be questioning him and therefore by extension ECR. As things stand he is at best incompetent.
Totally and absolutely disagree Snip , communication with shareholders has been top notch as new information turns up.
Incompetent is not a term I would use Snip and whilst I agree communication when it turns up is very satisfactory lucky, the issue here is that for whatever reason that drilling information has not turned up at the expected frequency relayed publicly by the CEO and hence at the very least an explanation as to why this is the case should be conveyed to shareholders
What are you talking about? We've not had results for many, many, many weeks. Results are what matters as they back up the spending of approx 30% of our cash position on the property. All that is required from CB is to articulate with investors what he is doing with our cash, plain and simple. They have had results back, 100%.
I don't think its realistic to expect one RNS/week and I think it was maybe unwise of CB to say that. In the same interview, they did also say the lab was turning around the assays much more quickly (I think the geo even said the turnaround was "a week"), and so the indication news flow was given in that context. Of course since then, the situation with the lab has reverted back to the previous position of heavy delays. But as others have pointed out, we've not been starved of RNS since then, even though its not been once/week. And for those who want one/week, you only have to look at POW to see that its maybe not desirable or impactful to have so many.
It is pretty easy to find out what the turnaround is for results going back to miners in Oz. I can tell you for sure it is not 3 months.
It's an NDA, simples
I'm also a bit sceptical about the extent of the delay tbh. This is not limited to ECR, but I have been wondering more generally whether companies are using the situation with the labs to also kick the bad news can down the road and using the interim period to create some positive news flow. Before anyone says they can't do that, its price sensitive, I don't think its as clear cut as that. There are probably enough 'ruses' and 'get outs' to be able to do it IMO. I can think of a few ways that you might achieve this if you wanted to.