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There has been lots of dilution since he said that. Look how many shares we have now as to then.
Mental max
Yes I would like to know this also
As at 4p he said we were undervalued then
All the recent excitement wiped out in 24 hours ffs. HIII I didn't mean to get personal yesterday, it just felt like you were rubbing our noses in it on a very frustrating day. I have no doubt ECR will rise at some point, Cherry Tree is a glorified side hustle as far as I'm concerned and should not be seen as the focus unless the results get significantly better (next hole?!). I want to know why CB thinks the SP is worth 3* current value, he'd have had the leech well results back from Cherry Tree I'd imagine (knowing they weren't great) so surely the confidence is coming from elsewhere..!?
Agree Loch
Definitely get locked in if buying at high price.
Jumping around ships is a very risky game also just like picking a queue to join etc its pot luck.
I am well underwater here as average 2.5p so I ain't going anywhere.
This share has a long way to go. We are continually going to be receiving drill results.
Totally agree Burleigh. More than made up my losses in ECR elsewhere e.g. HE1 selling before the drop…
Burleigh, you are locked in when you buy high and a sp tanks .Ask the investors at ggp who bought in in the 30s .
TS, good observations and agree especially with the first one. Instead of trying to save face and continue with CT, the company will now relocate to more promising locations like HR3 “companies words”.
Hole 9 could throw up a nice surprise but the story for now is Creswick, that’s the company maker for me. Anything they find at Bailleston is a bonus and will equally add a lot of value to the table.
I thought buying the drills and working through the winter was a good move Loch.
Property purchases I hope is not about empire building on a whim , which my thoughts were that there must be information to justify it somewhere but we are just not aware of it yet.
I am always surprised that wherever the drill enters on the whole there is at least a smidgeon of gold , all a matter of finding the line of the source and working from there as with the DMS.
Legal wolf , I agree with a lot of what you say but when you think about it .... any company has the potential to , quote , " ignite on positive drill results " dont they ? We first got those exciting drill results in 2019 . 2 years on we are still waiting for early stage drill results at Creswick. !! That sounds like horrendously slow progress to me . The sp doesnt lie .I'm willing to sit it out as I got in here at a good price .But confidence here is slowly being eroded .Many people are locked in at a high price and have been all year .Faith in this company is now starting to disappear. Many companies thrive on faith and sentiment . Looking at the sp this year it's hardly surprising that we are where we are . Even I am beginning to doubt my investment here as are many others .Progress in spending money has been excellent. Progress in developing our assetts has been utterly shocking !!
Let’s forget Cherry Tree, one dud doesn’t define a company.
Does anyone want to share historic drilling results from Creswick and Bluemoon?
The world of exploration is littered with uneconomic high grade small quantity nugget type deposits. Need a lot of nuggets to justify capex and AISC investment for a mine
Beware companies reporting phenomenal drill intercepts 50g/t less than a meter (very narrow intercept) surrounded by <0.5g/t grade.
Do we agree that as things stand today there is no know defined resource at any of ECR tenements?
And the company is in that position 5 year after CB took over.
A serious amount of drilling is needed to:
1. Find a meaningful deposit
2. Prove JORC initial resource. PFS
3. Define resource Infill drilling BFS
Plenty of hope, and belief, you decide if the board and activity over the last 5 years gives you confidence they have the right expertise and approach to succeed.
The upside potential is huge but downside is not to be overlooked. Let’s hope they find an meaningful ore body somewhere on one of their land holdings.
Next set of results at CresWick have taken on added importance now, but longer term, there will still be much to play for here when the newly acquired multipurpose rig teams up with MIDAS on the ground. CresWick, (phase 2 at) HR3 and Blue Moon all represent decent chances of a making a commercial discovery. Not sure what will happen at Queensland?
It's been a really disappointing year so far in terms of the sp (understatement), and this share certainly does come with its stresses and twists and turns, but it also is one of those shares (more than many others I believe) that has the potential to really ignite upon a successful drilling campaign. And I still believe there is the prospect of that happening.
Morning All,
A few observations:
*Nice to see that the company acknowledged that the results were disappointing at Cherry tree on the drilled holes....too many companies try to polish a turd when the results are not great so good to see ECR are straight talking.
* The point that they are seeing stronger results to the west of the Anticline may mean that there is still a prospect at CT , but will have to wait for the geo mapping results to see if the company believe this is worth pursuing.
* We need to have perspective as Cherry tree is 4th in the order or prospective areas for ECR as CresWick, Blue Moon (still waiting for drilling permission) and HR3 are higher on the list.
* The CresWick results will be the potential game changer here ...all the activity with equipment, property, fencing, etc. points to a positive outcome there and we will see a step change up if the results are positive. The DMS is the main company maker for ECR , with Baillieston and Queensland being the added bonus.
Lucky orange, I, like you are a lth and believer in Ecr and willing to stick it out until we either get there or we dont .I Sincerely hope we are right .I dont want another " Avacta " . The ceo at Avacta in april 2020 promised a working test available in the summer of last year .To date their commercial sales have amounted to ZERO . 18 months after the promised " summer 2020 " . Let's hope we dont have a CEO who over promises and under delivers . Mr Brown has a lot to do here .A lot !!
FORWARD LOOKING STATEMENTS
Whilst drill results to date at Cherry Tree have been disappointing of late, it must be emphasised that structural interpretation of the Cherry Tree deposit has only been achieved through completing diamond drilling across multiple fault zones. Drilling of the last hole (BCTDD009) is showing a remarkable improvement in vein quality and size as we drill west of the anticline. For the time being, pending results, the drill rig will be moved to more promising sites at the north end of the HR3 (Byron) reserve where soil sampling is revealing strong arsenic-antimony anomalies on surface.