Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
The pXRF machine that I used had two available programs, one for precious metals the other for base metals. I only reads the surface it is pointed at, which has to be flat and about an inch long. It gives an instant digital reading, but my guess is that for a representative result many readings would be needed because it only reads the surface and not beneath. Cores usually contain a mix of strata, and contain grains of different materials which is why only assays will give an accurate bankable result suitable for markets.
I agree legal, that’s exactly where I am with the rigs just like I posted.
Re the other third rig, my understanding is it’s an ‘augur’ for drilling fence post holes. It may be up to drilling a water well at a push but it’s to save contract costs on the fencing that is necessary for our acreage. Safety, security and all that. Especially with an imminent mine decline! Hint! Lol!
I worked out that the kit + labour will cost in by over 30% in A$ based on my ‘ring around’ following on from the CB interview.
Funny thing BB’s. You usually get lots of ticks for pushing a rampy narrative or having an un-researched disposition (At least Loch has done some homework!).
But if a poster just sticks to facts; or a constructive negative even if it’s short term it just gets let’s say ‘ignored’.
Note to self I must ramp more? Nope cos that would make me a sycophant and not a pragmatist!
Do folk realise that reefs are exactly that, layers or wafers. So if you puncture one you then go through sediment before hitting the next which can be distinctly different? Do you know what shoots are and how much gold can be pooled like in an ‘oxbow lake’? Do you know how similar the quartz is that we have to Kirkland’s?
Do folk understand the transformative impact the next assay results can have on the SP.
Are folk aware that the much ramped licences can take years? Oops there I go!but should they arrive soon we seriously could be fodder!
Do you know that the assay samples have been steered by our calibrated pXRF? And do folk know that an XRF does not ‘buzz’ for gold it looks for contributory elements or chemicals like arsenic that are a likely signal indicating gold?
Do folk understand the benefits of our autonomy.......?
Get the point?
I can ramp away If you want telling folk what (I hope) they should already know.
Or simply listen to this....
“Go short on finance and long on ops!!!”
It’s an adage that has served me well!
ECR finance is now a tick SP wise as per my last finance post on the warrants!
So we are now resoundingly back to ops! Hooray!
Usual caveats
Trek
1.5m buy at close was a buy. All buys at 1.9p I topped up a little earlier at 1.9p. A great week with some decent trades looks good for next week.
What was the 17,40 trade in quantity
Last trade looks like a buy
I think the RAB rig, whether they purchase or rent one, was to explore the properties they’ve purchased. They don’t want to go putting up building, allocating land for a tailings dam etc or processing plant knowing there’s a pile of Gold sat beneath it.
Share price looks more promising. “Still” have it all to come but hopefully we can wave sub 2p goodbye for good.
Err... I think its as follows:
1) We have our own diamond drilling rig (MIDAS) which has been doing the drilling at Baileston
2) We have recently purchased a multi purpose rig, which we are waiting to take delivery of.
3) We have contracted a diamond drilling rig, which has been doing the drilling at CresWick?
So that makes it two rigs owned by ECR, the second of which we are still waiting for. Unless i've missed something and CB has been shopping again and purchased a third rig?
Good weekend to all.
Totally agree
Loch,
Like I said I agreed with what you said.
The other ‘rig’ (our 3rd) is for posting. Happy to be corrected. Well I would be delighted as that would mean owning 3 rigs!
Trek
You're right AG...a 3rd rig has been ordered
Trek , 3 rigs in operation anyway .2 purchased outright. My broader point is that Ecr have invested heavily in their forthcoming projects which says to me that they are fully committed and ready to get on with them .Such purchases seem to me to suggest the projects arent fly by night and are going to be turned into resources and not just hopeful projects. Otherwise such expenditure would be pointless. It all looks very long term to me which is why I am here for the duration. Ecr seem fully committed which is why many people will remain invested. Theres just too much happening to ignore .
Are they not acquiring an RAB rig in the next couple of months ?
Loch,
“A company that buys 3 rigs and various properties is making it completely obvious as to what's going on here ”
Agree with what you say but for clarity we haven’t bought three rigs. We have bought two, one in operation the other a multi-rig, can diamond drill or RC, is on its way. The 3rd rig is contractor. We do not know how long we have that one at our disposal after Creswick drilling.
Sorry just catching up with BB.
Trek
I honestly dont think there is a leak . I just think that people are starting to have a look in here .A company that buys 3 rigs and various properties is making it completely obvious as to what's going on here .Their expenditure this year has been considerable to say the least .Let's face it , you DO NOT buy 3 rigs and various properties in an area that you arent intending to frequent for a long period of time . There has been a lot of talk , some of it waffle etc .But actions are what I pay attention to . There is gold in more or less every single area that Ecr has drilled .Some of it with very impressive grades indeed . CB is convinced that many of us dont understand the type of mining that Ecr intend to undertake .He is probably right .But the facts are that we have multiple tenements in one of the most gold rich areas in the world. Next to the most profitable mine in the world. They aren't ramps , these are facts . Dont be too impatient to get the assay results. They will come .They are in their infancy at Ecr in terms of what they are doing . Sit back and watch it unfold .I dont do sp predictions .I just think with all of the recent purchases, this company are really setting up camp for the future. Theres just too much evidence , and it all points to a long term hold for me . It's been a hugely boring year sp Wise but in time we will get what we are looking for .its there , it's just a matter of time before it's all mapped out and extracted .The action will start soon enough . Sit back and see for yourself . Once I knew there was another rig on order , together with the property purchases , that sealed it for me . A couple of potentially massive years ahead here . I wouldn't even consider selling below 10p , and that's maybe too conservative with what's being set up here . How much evidence do people actually need ?
....I love golden crosses
The technicals are looking good on the chart: today the sp opened above the 50/200 MAs and has broken a line of resistance from April. A golden cross forming is forming. Next resistance point is 2p; once it breaks this, 2.3 will be a weak resistance point. If it breaks through 2.3, then previous highs of 4p+ is in the crosshairs. Let's hope for some news on the positive fundamentals here to give the sp the boost it needs.
Things picking up here overhang must be all but gone 2p could go pretty quick now
Looking at the buys, many are very sizable. Bodes well.
Now 1.90 up 11.76%
Blimey another leg up! will be 2p close at this rate!
Looks like the buyers over recent weeks have finally cleared the seller.
Buys going through at 1.88
where's the leak?
Nearly always a sign that the share price is on the move...upwards!
Flurry of buying and can sell 1m+ easy. Hmmmm