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Morning Sausage,
For clarity (and potentially lawyers), On this public forum are you accusing the COO of a listed company of dishonesty posting under an assumed name to influence the SP and breaking a number of AIM/market rules?
TalkingSense, are you sure you're not Mike W h i t l o w???? You certainly use the same phraseology "explorer and not a producer" Hmmmmm, I wonder, I wonder.
You do know "aligned Directors with shareholders by being paid in shares only" is not quite true, Mike and Nick get £1000 a month each and the shares you mention.
It is exciting when you put like that. Everyone should read and digest that post.
Thanks Sausage.....They have repeatedly stated they are fully funded for all planned activity until the end of the year , but as you say , if more funds are not received (if they do not sell the property or monetise the tax losses) then I would expect another raise around October as they won't let the money run as low as Andrew Haythorpe did last year.
Yes, they are repeating the same stuff across platforms as they can only express their current plans.....There are plenty of examples of BOD's making outlandish claims , but the current ECR board have done no such thing.
Yes , they are not selling gold, but that's because they are an explorer and not a producer (at the moment ;-)
What have they achieved.....In the last 6 month's they have the excellent initial gold sampling results from Lolworth, Have raise over £1m to put the finances on a strong footing, disposed of unnecessary assets, completed two drilling campaigns at Creswick (one with a best result of over 40g/t and one that found a wider vein system that had previously be found at that license, acquire the Kondaparinga license next to the Hurricane project that they rejected (due to the c£5m price tag) , re-examined the Blue Mountain historical results to identify further areas of trenching and exploration with the potential of up to 100,000 grams of gold, planned initial work at Tambo, managed costs effectively, employed a specialist to look in to the potential disposal of the a$75m tax loss and aligned Directors with shareholders by being paid in shares only and not running a 'lifestyle company' like so many other companies......apart from that they've not had much activity.
I've ever heard Mike use the phrase "absolute beast" and my head is on the other way up ....the hair's on the top ;-) (Sorry Mike if you are reading this)
"it's all jam tomorrow until they get an inferred, indicated, and measured resource. anything else is just there own guess and the way they want to spin it out to the public. they can and do talk it up, but strip away the 'expects' ' i think' ' very very soon' and the 'quite encouraging' and what have ecr actually achieved / got?"
Sausage, you've just summed up 99% of the AIM market.
not said in a derogatory or deramping way. very knowledgeable. you clearly listen to a lot of the podcasts as the language you use is very similar to mike ******* when you say "absolute beast!" for a moment i was going to call you a younger version of mike ******* !!
the only thing i would disagree with you on in your last post was the "fully funded for the year" they raised over £1m in 6 months based on the rns dates. with all the multiple sampling, trenching and drilling programmes i do feel by the end of the summer they will be out with the begging bowl again. if they got through enough ££ from septembers 23 raise to warrant another raise in march 24, then all this extra activity will only consume more ££.
ecr are still not selling any gold. the facts of the matter are they are only sending samples away. they have no announced plans to start producing, but what they have employed is a scattergun approach to comms. repeating the same stuff by nick and mike across multiple investor platforms. it's all jam tomorrow until they get an inferred, indicated, and measured resource. anything else is just there own guess and the way they want to spin it out to the public. they can and do talk it up, but strip away the 'expects' ' i think' ' very very soon' and the 'quite encouraging' and what have ecr actually achieved / got?
TS ..
I agree with the selling.. I think it's still a churn of placing shares.
It makes no sense otherwise as I cannot see that anyone who was in at recent weeks/months making any profit.
The only other explanations are distressed seller, and/or shorting.
But I doubt it would be shorting with news on the agenda.
I can't see it being the Telegram groups..who would be selling in bulk like that to drive it down? It would mean some of the group making a loss
Thanks Sausage, You're so kind.
No, not and employee of ECR (and I'm not going to do the petty thing and start to accuse others of being paid derampers)
......I just pay attention to the actual news and activity from the company and cut out the 'noise' and ramping/ deramping that there is on a lot of on BBs.
My guess is that there is one big seller that is riving down the SP (one of the 0.175 placing takers probably) .
I can't see why there would be another reason for someone to be selling 2.5, 3, 4, 5 million share chunks at the current level.
The upcoming activity and potential property disposal and other potential revenue generators has been in RNSs and interviews over the past 6 months for all to see.
I just asked myself if there are many companies out there with a c£4m mcap who are fully funded for the year, have multiple sampling, trenching and drilling programmes, have assets the quality of Creswick , Blue Mountain and especially Lolworth.....I mean did anyone actually look at the Lolworth sampling results from last year ??? ...one was over a kilo a ton (and yes that is an anomily and not the norm....but there were excellent grades with an ever increasing area of gold potential) and that's not even mentioning the REEs and Lithium......Lolworth could become an absolute beast!
Fully funded so little risk in the near term, and multiple potential game changing activities/ opportunities ....and that's why I've topped up another million shares over the last week.
TalkingSense,
You do talk with a great deal of knowledge, almost, in my opinion, too much knowledge for someone not employed by ECR.
A question for you TalkingSense, are you employed by ECR in some capacity?
Absolutely TS. 100% agree.
Techtonic, I agree that the BOD need to temper their optimism a bit and stick to the activity and be a little more pessimistic on timelines.
There is plenty of activity coming up and as you, pre-empting an improvement in grades leaves little upside even with positive results.....just say that they are being re-tested to be thorough/ get a full understanding.
I think the narrative is hijacked by some as there is a great deal of actual positivity as far as operational activity is concerned....we've move away from lumbering from one piece of activity every quarter to starting a drilling programme at Creswick within 3 or weeks of announcing and having upcoming activity scheduled in Tambo, Lolworth, Blue Mountain and Baillieston.
The BOD have put their foot on the accelerator as much as you can reasonably do in an exploration company and I am confident that ECR will be in a much better SP range by the end of the year (probably with a number of swings on the way)
Like I said the setting up of time-frames and expectation by using video comms has a short time frame.
Without hard news , it sets an agenda that it can be traded.
And by hinting at widespread good grades at bulk sampling, this can set up for failure also .
I think the BOD - while enthusiastic and pro active - are a bit naive with this. The market obviously only wants to see hard evidence now.
Could do with the BOD learning a few lessons and surprising to the positive.
It's playing a poker hand with all the cards face up.
Expectation - tax losses/JV/ high grades etc creates disappointment in the vacuum of news
I think that is their actual aim and the story so far (since last October) has been to set that in motion... but it does not happen overnight.
I guess you have to use language like 'in the coming weeks' and 'shortly' when you hope to report news soon but you don't actually know when.
The asset sales and cash raises made sense and were necessary to facilitate the ongoing work programs. that has 'steadied the ship' but the results definitely need to do the talking. I still think news this year has a very high likelihood of leading to a double figure MCap and an SP between .6p and a penny. How high would depend on the news.
Multiple positive outcomes could take this above a penny with ease. The range of assets are very tasty. They have too many though and surely must partner on one of them in the near to mid-term....
They’ve attempted to create faux hype since they took over. I get it, but the market hasn’t bought it. Let the actual news do the talking.
It needs results, the market got wise to the small talk years ago unfortunately and that will no longer wash. As soon as volumes start to increase those that have sold will scramble to buyback. Like I said, they need to stem this "this week", "weeks", "shortly"
Morning Nostradamus... very annoying but I think you might be spot on...
Watch it correct tomorrow in expectation of RNS(s) next week.......
'Because I don't believe they will succeed, I've been here a while TT and I've been in the markets close to 20 years, I've seen it all. My opinion is based on behaviour, starting when MW/NT took over back in August. It was traded 0.19 - 0.24, it was suggested at the time by MW that this was a "trader". You take 0.29 and 0.24 looks nailed on, except we've seen strong support kick in which has resulted in them having to buyback in, somewhat aggressively in fear of being locked out. Like most LT holders here, I can't commend the new bod highly enough, what they have achieved 8 months most AIM fail to achieve in 8 years. Some sustained news here without pre warning should do the trick.'
Yes indeed TS
I'll have another 500k.....back to 0.3 gives an easy 10% profit from these levels.
Plenty of activity and newsflow to come on multiple fronts (Kuboid bulk sampling next) and company fully funded for the remainder of the year so RvR at these levels is excellent.
Dan ‘Nostradamus’ 1605
Cheers, Dan.
I've been investing since the late '90s, but not talking about overall Market insight etc.
Just curious about this specifically and wondered if you had any knowledge other than a subjective feeling.
I think there's some churn of fundraise shares still, and pretty convinced that there will be a bounce to at least 0.4p based on closing the gap at some stage fairly soon.
Thanks for the reply
"And, if that's the case, and you fervently believe that, why don't you sell now and buy in at 0.24p"
Because I don't believe they will succeed, I've been here a while TT and I've been in the markets close to 20 years, I've seen it all. My opinion is based on behaviour, starting when MW/NT took over back in August. It was traded 0.19 - 0.24, it was suggested at the time by MW that this was a "trader". You take 0.29 and 0.24 looks nailed on, except we've seen strong support kick in which has resulted in them having to buyback in, somewhat aggressively in fear of being locked out. Like most LT holders here, I can't commend the new bod highly enough, what they have achieved 8 months most AIM fail to achieve in 8 years. Some sustained news here without pre warning should do the trick.
Interesting..
Just a couple of questions Dan
Do you "believe there is strong intention to get it down to 0.24 because of new knowledge, or simply on past behaviour?
And, if that's the case, and you fervently believe that, why don't you sell now and buy in at 0.24p?
It is a typical stock to be traded and being labelled "a punters' favourite" doesn't help.
I also agree that, although continual video news updates are good for Comms, it also has a flip side - everyone then knows the time scales and what is expected..
And when everyone knows what is expected they know how to trade it.
Could do with some really good hard news that takes things to the next level, like Tax RNS, unexpected good grades in volume, and or JV/ collaboration with bigger company.
"No chance you'd be doge for libel with such a benign comment" It's not what I've said Techtonic but what I could say.
I believe there is a strong intention here of getting this stock back to 0.24 to run it back to mid 30's. The pattern is always the same, hit the bid on low volume followed by aggressive buying. It was alluded to by MW himself in the early days that "traders" were milking it. You can control the sp with just a few million shares when volume is low.
Thanks for that, Talking Sense.
I don't do telegram groups..for the reason you stated (and I don't like closed hierarchical groups/cliques.
Yep, it's a murky world out there !
I'd also add that Admin 'A' will likely have bought in at the bottom BEFORE the 'tip'
And will claim the maximum % increase from the bottom price to the peak (which may only be achieved for a few minutes) which only they will see as the sheep have ploughed in during/after the initial rise will see a smaller profit or indeed a loss.