Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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"I am on fire with this share!! Lol Snip! Is that why you sold at a heavy loss, a shame you didn't have the same hindsight back then, eh?
Assuming the sold drilling rig had an associated work crew on ECR books then I guess this sale will also take their salary costs off the books which is a good saving going forwards. Although the caveat is that I don’t know whether in the short term there would be a hit for making any redundancy payment? I guess that depends on their employment basis and Aussie rules. Anyone with related knowledge can enlighten ?
Notrex, The cost is unknown as they negotiated a 'meaningful discount' on the original price, but did not disclose the actual cost (old BOD not being transparent).
Drilling results coming soon
Traders watch the SP
Investors watch the operation.
Another significant operational step forward with funding secured for 2024
zak mir talking to chief operating officer, mike ******* with today’s confirmation from the company that its subsidiary, mercator gold australia pty limited, has agreed to effect the sale of two under-utilised non-core assets.
https://www.share-talk.com/ecr-minerals-plc-aimecr-mike-*******-chief-operating-officer-talking-to-zak-mir/
2023 has been a brutal year, even companies that have done nothing wrong are in negative equity. are we at the bottom, will 2004 be better on a micro level, liquidity?
TS: I could look back at the rig cost - but you will undoubtedly know. I guess it's predictable that you don't want to actually say how much - given it would just make ECR look stupid again - having pi55ed away more money. However, that was before A & D's tenure - so they cant be called out for that - but Tang et al certainly can (who are all still on the BoD)!
So, SP up 1.96% as I type - which suggests an neutral response from the market. What we need now is to find commercial gold (not a few nuggets on the ground) - as you know full well. The first empirical evidence of the outcome of drilling at Creswick will be known sometime in the New Year. I really do hope we aren't left waiting an eternity for these assay results - as has been the case many times in the past - where no news invariably turned out to be bad (or meh!) news. GL
I don't care as its irrelevant (you can look back through the RNS if you are interested and want to look backwards).
For those of us lookjng forward we have the money in the bank and no need for extra funds any time soon.
What's your next concern (as you always seem to have one)?
TS: As you can see - they listen very carefully to what I say and then address my concerns - you should be grateful! Somebody has to keep their feet to the fire - I can't expect a bunch of compliant and sycophantic mindless ramping disciples to do that - can I? LoL
P.S. You didn't tell me what that rig cost them (which they just sold for A$350K)?
Notrex,
Your concern last week was that the company didn't have funds ...and now the company has confirmed that they have funds to last through 2024.
The week before your concern was that results weren't be for months and the company has confirmed that results will now be shortly after the holidays.
Prior to that your concern was that they weren't drilling ...and now we are completing phase one, with phase two starting after Christmas.
The company has continually addressed (and exceeded) the concerns of you and other holders.
Commercial gold is thf obvious end game and they cannot start to deliver on that until the results start to roll in....but with the previous good sampling results, excellent looking structure in the core and numerous nuggets being picked up at surface around the site, thd signs are good.
I am on fire with this share! If anyone cares to look, I called this property being sold, at a loss, to a property developer 24th September 2021!, followed up on 25th Oct, and finally 4th July 2022. God, I should start a podcast and build up some Twitter followers.
Nice to see our modus operandi being held intact, buy things, and sell them cheaper after actually not needing them. Honestly the Chairman, Tang, should really be getting a hammering. He is the one constant and the major reason it seems that this company can not be trusted.
Our burn rate is considerably higher than what is going to come in for the next 9 months from this 'asset' sale, are we just going to be on a go slow? I think a raise is coming pretty soon, 1st qtr of 2024.
Mental: Some schools have - but schools here don't finish until this Friday. Good summary - 'Decent news, keeps us afloat. Now let’s find gold!' - however, let's add the word 'commercial' to the 'gold'!!
Shools have all broken up no?!
Decent news, keeps us afloat. Now let’s find gold!
Good morning boys and girls, Got delayed this morning by an unexpected school run for youngest grandson. However, I see we have some good news - rig sold for A$350K and digger for A$70K - that will certainly help the finances. I also note we are going into the land development business (joke) - seems the land is proving hard to sell so get planning permission for a property on it to make it more attractive - makes sense (unlike buying it in the first place - ho hum!). Interesting that they specify that's all the non-core assets they intend to sell (at this time?)? Inference being they regard everything else as core - not sure how to read that - a little ambiguous.
I see 'Bro' Yos is 'surprised' at the muted response - but I don't think any LTH's will be. Those funds are primarily pushing the wolf further from the door - but he's still lurking. The money is an enabler - it offers the opportunity to drill for longer (without any further raise) - which is good. However, finding commercial gold is what is needed - not the ramping 'hey, look I've found a tiny nugget of gold on the surface' (been there, done that with the 'VISIBLE GOOOOOOOOLD' ramp of a previous management). Overall this has to be a positive - it's a 'get out of jail card' - but what really, really matters is that they are drilling in the most promising place on the most promising tenement (and most promising State!) - the jury is out on that until the New Year.
TS: Do you recall what they paid for that rig - I can't remember?
Very very suprised by the muted sp response, thought it would have at least been 0.30!
G&A now fully funded through 2024 !!!
If the photo of just over an ounce of gold in the tweet you linked to is what has just come out of the ground where we are drilling this could be quite a nice Xmas present
Simply A Great Company To Be In ….
Action Packed ….With News …And Media Updates …
Excellent news with over £210k raised and a plan to add value to the future land disposal.
The new BOD are smashing it out of the park.
Fully funded, drilling results early in the new year and phase 2 drilling coming at Cuboid Hill to come in January.
The we move on to Lolworth in March/April ...and that is going to really move forward this year.
……. https://x.com/ecrminerals/status/1736644611114733649?s=46
Hmmmmmm where is nosex? will he doing his Houdini act today lmao. GLA (apart from nosex)
……applying for planning permission for a house on the 20 acres……good move
………Queensland drilling funded…..when does the drilling season start there in 2024?
Thats more like it, now we're talking!
Clear runway of funds, strategy of keeping costs down, already drilling in Victoria, additional asset sale of 20 acres of land in Victoria with planning permision application going in for residential property expected to increase appeal for potential buyers.
Best RNS for some time, the market will like this one!
Notrex/Snip will be unhappy with today's news.
Excellent news more money in the coffers.