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HIGHLIGHTS
● Significant increase in gold grades overall with the best result now 41.03 g/t Au over 1 metre.
● Several other significant results including 10.26 g/t Au, 8.46 g/t Au and 6.22 g/t Au.
● Importantly, the bulk sample results show contiguous gold over multiple metres - of particular note, approximately 4.4 g/t Au average over 3 metres in hole 1 (between 36 - 39 metres depth).
● Bulk sample testing has indicated both greater prevalence and higher grades of gold.
● This phase of drilling completed on time and on budget and second phase of drilling at Kuboid Hill, Creswick now underway.
Bulk samples from the 20-30kg 'leftovers' from the preliminary drilling results were concentrated in a dry blower with subsequent panning consistently showing visible gold. Pan concentrate samples ranged in weight between 0.29kg and 1.79kg. A total of 32 samples were selected for testing from 1 metre intervals that showed anomalous gold.
The rig is now back on site at Kuboid Hill as the second phase of the Company's drilling programme in Creswick gets fully underway. Further announcements will be made in due course.
RNS OUT BUT NOT SHOWING!
41.03 g/t is an excellent result and with gold across most holes this is an excellent step forward.
Seems like Creswick is well and truly back in play, and they have 10+ target sites already identified for further drilling at Creswick.
And drill on site at Cuboid Hill so should get confirmation that drilling has started there shortly.
Another fail by LSE who have not posted the RNS on this site ......not the first time they have failed to do this for ECR.
…….looks like the same results we had in 2019 after the whole of the bag retests at Creswick…….excellent and The BOD discussing the tax benefit , dare I mention the JV word again? ……..very quite in here today 😉
Creswick returned some excellent results, market yet to latch on to the news, nice
……. https://x.com/dds_docholiday/status/1756959415943438377?s=46
“…we’ve got some tax losses that could be quite valuable in the right hands and to others in our space…”
Sounds like some of Nick's 'discussions' in Oz may have been with other parties looking to utilise the tax loss.....would be a significant cash injection to ECR if we can find a way to transfer them.
……makes me laugh how when an RNS is released you never hear from the Debbie Downers or the 10% traders until they know how the market is going to take the news 😂
Only just seen this
Happy days
Interest ..Growing..On All Fronts …
Better. Don’t be smug though Ti we’re still trading under 0.03p that’s nothing to write home about isn’t! Will be interesting to see if ECR can ride some momentum for once and not let it slip back.
The tax losses can be used by the ECR Group by offsetting mining taxable profits made now and in the future within the ECR group. So to ECR its saving future money spent on future Tax Liabilities generated from mining.
However, if the ECR Entity carrying the losses was to be sold for cash to another Mining Entity in the same Business Space then those Tax Losses would be used by the purchaser. That transaction would monetise the ECR Losses now for ECR.
But this would mean the ECR Entity sold would have to transfer out any valuable ECR Business Unit Licenses before the ECR Entity was sold and are those Licenses transferable.
Another idea is to JV into the ECR Entity carrying the Tax Losses so that the JV Partners and ECR would both benefit from the ECR Losses.
Not the remotest but surprised…
Whatever next…;-)
Mental,
Would be nice to finally breach 0.3 and stay there....I think the encouraging results at Davey Road might get us there.
0.3 (c£4.8m mcap) does look cheap with Creswick starting to look like developing further (I'm not getting carried away yet), Cuboid Hill drilling, Lolworth results shaping up nicely so far for both gold and REEs (where are the REE sampling results?) and the potential cash injection from crystallising the tax losses.
A number of fronts for ECR to push forward ....let's see what the market thinks over the coming days
...........Awen........I think the last option is the most plausible......they need to prove continuity.........."Another idea is to JV into the ECR Entity carrying the Tax Losses so that the JV Partners and ECR would both benefit from the ECR Losses."
6.9m delayed buy appeared, volume picking up
Afternoon Delight Coming ….Into The Thirties….IMO
Great Interview…Looks Like Nicks Been …Talking To One Of The Big Guns …..
…..something is going on Cash, why would they repeatedly bring it up! ……bring it on
Now That Would Be A Nice Rns ….
..........Nicepair.......😘
The MM are happy to pick up stock at 0.27, suggests a few big buy orders to drop in after hours or a run up above 0.30 over the nest few sessions.