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Great post mentalmax. Frustration all around but no need to jump to the worst possible conclusion and for those convinced Craig is a pump and dump merchant, you'd have already sold by now, that simple
Always good to discuss it and dig deep through the issues, but letting your emotions rule and dictate your investment here is definitely not the answer
Absolutely but why the 2 month silence?? Is it not pump and dump
Getting a bit tiresome now Dill, we get it.
If you have any skin left in the game it’s not the best idea to further lower sentiment now is it.
Let’s see what CB has to say tomorrow, at the end of the day it was a placing, perhaps for a new opportunity unforeseen a month or so ago.. People seem to be jumping straight to the worst conclusions here (as usual) - should we not first see what CB has to say about it first?
One of the reasons I bailed out of JLP at 2p was Colin Bird’s constant confetti cash raises.. sentiment was bottom of the barrel. A year later I look in and the sp is almost 17p ffs.
I’m not making that mistake again, unless something catastrophic were to happen but with 5.8m, plenty of ground to drill, possible game changing results on the horizon etc why stress too much?
I try to remain glass half full.
GLA
BRILLANT POST..... it was all Pump and Dump
I fully agree that the issue of trust lies solely in what the newly raised cash is to be used for.
I know it is not what private investors will want to hear, and would clearly love an immediate, open and honest explanation for the reasons and timing of the recent placement. However we must remain aware that there are all manner of legalities regarding how/when/what information a CEO can release. I'd be very surprised if we learn much from any media interview this weekend.
To stay the course as along term investor you have to have faith in the geology and believe in the BOD's past track record.... that trust is entirely dependent upon the time frame over which you judge that track record. Is being annoyed about a short term lack of clarity the same as doubting projects they have completed with prior companies, or what they have so far achieved within this one?
Forza, agreed, there'll be a number of different prospectives, good to hear them all
Well said that’s what wrong with people no point sugar coating things!!!!!
I would like to give a big thumbs up to everyone on this BB. I am invested in a few companies, this one has knowledgable and respectable posters. I rarely post on any threads, I normally read and attempt to learn from more experienced campaigners. The reason I have posted here is because of the civilised counter arguments. Some boards I read are pure toxic, so for that, i thank you.
Hi Le flic, I appreciate your knowledgable counter arguments. You are probably correct in that the small P.I is not considered.
forza, don't disagree with any of that at all and i understand where your coming from. Flogging 90 million shares at 2.2p was clearly achievable, I can't say for certain in the near future, anybody would have took up the opportunity higher than 2.2p.
For the benefit of the company, it does seem strange exercising a placing during a period of weakness. But I've seen it time and time again, we could have released good assays, let the sp shoot up to 4p, then throw a placing in and undo any rise in the sp. Lose/lose really.
All i know now, they're in a strong financial position. Any more placings will not be met with any kind of welcome if he doesn't use these proceeds correctly. It's not about words anymore, lets see what actions Craig are the company are implementing from this moment on to further our interests
Forza - I can't answer that, like the majority posting on here I am just an amateur having a bit of a gamble (I like to think informed to a degree). We are deluding ourselves if we think the BOD take any notice at all of what gets posted here or of our opinions, they simply do not matter. Those 10% or 15% of investors who hold 80% or more of the total stock are the ones the BOD are beholding to and depend upon. I am holding my position as I believe I will get a return here.
I do not have twitter,
So can someone please ask
"Why have we raised from a position of relative weakness, compared to where the share price was a few months ago?"
Get your question into stock box for Sunday
https://twitter.com/stockboxmedia/status/1380621522411384836?s=21
Completely lost trust in him, he’s pull the wool over the eyes of us on this. Will be judging him on what he does and not what he says, lesson learnt a lot untrustworthy name for future investing
Why raise from a position of weakness though? If there is positive assay results as alluded too, why not release results and raise from a higher sp?. Less dilution for everyone. Or same amount of shares but even more money. The silence caused the sp to float down ( plus everyone in the know forward selling), just like the continuous pumping caused it to go up over 100%. Something doesn't ring true here,. The guy will sit in front of the cameras and spout what he likes, but my trust in his stewardship has eroded. Once bitten, twice shy .
Forza the SP did not surge following the 24 February interview. The peak in the SP was the 29/12/20. Since then it has been most;ly down with any 'surge' being 2/2/21. My guess is that opportunities for ECR have changed sine 24/2 hence the need for additional funding.
@Forza74 - obviously you are entitled to your own opinions but interpretation is a subjective thing.
To my mind the phrase "fully funded" used in the context of junior explorers is, and always has been, a somewhat open-ended one implying only that they have the funds to pay for the plans they have so far announced. I never take it to mean another placement isn't going to happen as exploration work is costly and is inevitably a reactive process that can't all be planned in detail on day one. If the new money gets spend to complete the plans previously announced then yes I will feel cheated, if it pays for additional work/equipment/licenses not previously mentioned then I don't see it as contradicting the statement of "Fully Funded" . So we'll just have to wait and see what the extra money is used for.
As for results being "imminent" developing a mine right from early stage exploration takes many, many years and at the moment such is the demand from a surging exploration sector (combined with covid and other issues) labs are all backed up with work delayed by many months, so in what way is not getting results within a few weeks outside of the context of "imminent"?
Investing in junior miners is a long term, slow-haul process with many bumps in the road where even the best companies go through periods of significant retracement. In a few years time the past few days activity will probably be both forgotten and hopefully irrelevant in terms of the future share price.
The man sat in front of the cameras in February and stated they were FULLY funded until 2023. Assay results were positive and due imminently, and a JV was just a matter of a few legalities. As a result, the SP surged. I bought in on those promises ( lesson learnt) I won't believe the man again. I feel robbed, I am down a significant amount of money. It will take a lot to work through these warrants, we are going to be wading through treacle for a long time. Everyone in the know got a easy ride, everyone who believed his words got shafted. Pump and dump, pure and simple. I genuinely thought this was a long term investment case, but if the man at the top speaks with a forked tongue, then it becomes a traders play only.
Oh of course, it's totally up to you how you present yourself, but sadly you won't live up to your name and expect to reign long on AIM with emotional blackmail posts at CEOs.
Take it as a friendly hint. It's been done to death already, and they don't listen to that stuff. But yeah, you do you.
I feel a lot of investors have lost faith in Craig (I don't include myself here). And as a result, I think a fair few will use tomorrows interview as a factor of whether they should continue investing or pull the plug Monday, I strongly believe that. 6 holes in, assays shall we with us soon but yeah, the company really needs to start delivering on the gold front, any tin pot company can talk the talk
DJ
I don’t trust him and for me his credibility is blown
I will do what is correct for my investment
We can say what ever he wants in his interviews but until I see something meaningful and he walks the walk I’m fed up listening to him
It’s not emotions, it’s where is the best place to make returns on my investment
My average is 2.2p and I have just under 3m shares so I’m not under water
Without a concrete update the churning of this placing and other like minded people will mean we could trade in this zone for a while
Never trade on demotion
You do what’s best for you and I will do what’s best for me
GLA
"He better be good and believable lol or i will sell up and through it all into the ECHO retrace before Martin starts his updates"
See, this^^^^. Way too emotional. He's not going to care about your threats and switching your affiliation to another share.
Please, people, ask him fact-based, cold clinical questions. He can't put a sticking plaster on our emotions.
What is this funding for? Why now? What can investors look forward to in future? Is this company being held back by warrants? What does he intend to do about making it an even playing field for small investors, who have nevertheless been loyal? Are the Chinese still on board? Do we get an updated presentation with an actual timeline? Does the ECR Minerals website get the same love as the Mercator website? Who are we really - ECR or Mercator (sometimes it's unclear)? What's happening with the license apps?
And no, we don't want a 'spin off' company.
Do we?
Etc, etc....
Imo, keep it as emotionless as possible and we're likely to get clearer answers. Don't get bogged down with threats about switching up for some other share or how you can't pay your mortgage off thanks to this. He knows all of this, but it'll be of no real concern to him. His concern is building this company.
Correct me if I’m mistaken, but wasn’t the Beauty of ECR the 2 sites Creswick and Baileston that are going to deliver the fruits?
Have the fundamentals changed, is drilling still continuing, are licenses pending, not saying a placing @ 2p was great but some major panic here from some, plans change they may use that 2 million to accelerate the drill programme and In turn enhance Any JV offers?
I’m not expecting anything from Sunday’s interview he can’t disclose any plans for the cash that aren’t RNS I’m up to my knees in this share so will have to sit it out and not buying any more!!!
GET YOUR Q IN
https://twitter.com/stockboxmedia/status/1380621522411384836?s=21