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Accounts which are 6 months out of date lol
Since then they've raised nearly £1m, stream lined business, completed one round of drilling, sold a rig to provide work cap costs for the next year, taken no salary only shares, fully funded for the rest of the year with 2 major drilling campaigns lined up
I mean the list is endless. What a stupid comment
Flushed out any impatient fast money. Discount 10% below recent placing. I think from here things get VERY interesting. Big upside
Based on accounts
"Nonetheless, the Company held bank balances of £84,338 at the year end" This shows just how close the company came to administration, roughly one months cash burn. Freighting!
I have a sneaky feeling this will come good. Currently the underdog, not a sausagedog! But I think it will be crufts prize winner, wait and see, but Aussie land is full of gold, and incentives right now from the Govt for extracting it, so it's a case of getting the best equipment in to find it, and that's why I think ECR may have to JV with a major before long, if they can get one interested enough to take on some of the risk with them. imo.
Thanks Pauly, I'm sure Sausage will value your validation.
Sausage, We weren't privy to what was fond in the data room...I doubt if it was "f.a." they found as you put it, but it was obviously not enough for them to proceed ay that stage. The fact that there was interest is a positive , and the fact that there has been a comprehensive surface sampling programme and that ECR have commenced drilling programmes will only add to the data set that is held.
Obviously any prospective partner will be looking at the geological structures as much/if not more than the actual grades produced, and we don't know at what point the data would be sufficient to trigger an offer.
There is speculation of a imminent JV from some posters and it is just that, speculation. No-one knows what the timeline would be if an offer was forthcoming , could be a week or a year away.
Absolutely ECR are not a producer and have no immediate plans to become one (I never said they did "Read what is written not what you think is written." ;-) . As in the interview that would be a future consideration.
Also you said ECR have 'no gold' ....This is again untrue as the last drilling campaign produced up to 40g/t and Lolworth initial sampling has had exceptional gold grades (we will see if those can be backed up with the trenching and drilling over the coming months)
The activity that is planned, funds in place for the remainder of 2024, good grades in the first set of drilling and exceptional initial results (which I also believe have not been fully appreciated by the market) from Lolworth are what have driven the increase in SP over the last 3 months.
The MCAP of ECR is still really low at c £6m so progress/ good results in the upcoming activity can see a substantial re-rate.
As you said " He's going to take ECR to what ever price he sees fit, then he's going to decide to jump ship using the excuse someone else can take it further." ....Which will be significantly north of where the SP is now (I think he mention £25m-£50m in the interview) so if/when he does jump ship we will be in a massively better position than we are today on the SP.
Sausageonstick - an honest post. I concur
My 500,000 now showing, but that was also a buy.
33069 is mine, it was a buy.
I've also just bought another 500,000, yet to come through.
Now holding 8 million shares, and hopeful :)
(And before anyone moans about land access, wet seasons, logistics etc) they’ve had oodles of time. Oodles.
Perhaps the new $ will speed things up.
Need to get cracking in QL asap really considering the time it takes to mobilise, drill and get results back. IF the Victoria results aren’t special we’ll be in a bit of a dilemma as we’ve only made baby steps on our other tenements so far, even though ECR ranted and raved about them for years! Even if QL is JV’d at a lower % it’s still better than doing nothing.
HUI needs to catch up before the miners re-rate. Likely to see another correction in POG before it really does take off.
Company is funded until end of year. Directors getting paid in shares and interest aligned with shareholders
We have price of Gold exploding and some exciting drilling campaigns lined up
Still waiting for results from the recent drilling done earlier in the year
Its all getting rather tasty. As soon as we get that fuse lit will be back into the 0.4s and beyond
.........POG $2255.....😗
No chance you're getting 5m at the live ask. Impossible to tell if its a buy or sell, therefore not much point worrying.
..............https://x.com/DDS_DocHoliday/status/1775043088945205526?s=20
Well if you check the RSP its 0.292p to buy and 0.2812p to sell
Go on, how do you know its a buy?
Someone wants in
"rather than name calling why don't you offer a reasoned arguement against the points i make, with evidence from the numerous mike interviews going out on an almost weekly basis at the moment"
still waiting for your reply *****.
The good thing about this RNS: it is out of the way now.
We need KH results.
The usual RNS as expected in time. Not the one we are waiting for.
In the mean time the sausage man/lady is spreading his fat so anyone can slip on it so he can buy his share on the cheap before KH results.
wise one, filling the board with his drivel.
ECR is likely to attract a JV as soon as the results show the true story of KH. I like the fact that it is a hill.
Tamer,
ECR have been waiting on results for weeks, listen to Mike on the Sponge interview, even Mike wanted them back weeks ago but they are still not here. You know they are late(r) than anyone at ECR expected. I don't need a printed date to know the results are late.
Some major miner went into the 'data room' and found what?? The square root of f.a. We know, because Mike tells us, the last bloke in charge paid himself £10,000 a month and achieved next to f a. so what, pray tell, is in the ECR 'data room' 😂😂
They probably would consider small scale production, tell the kids what they want to hear, they'll lap it up. ECR are at the stage where they are literally shovelling surface rock, quartz with a chip of gold (that they put a photo on Twitter) in it and sending it to the lab and waiting two months. Mike states they are not a producer!!! Did you not listen? There are no announced plans to become a producer in 2024.
Mike states in the Sponge interview that he will get it to a certain stage, then he will need to decide if there is someone better qualified to take ECR to the next stage. Listen back if you don't believe. So even Mike is beginning to float his exit strategy. He's going to take ECR to what ever price he sees fit, then he's going to decide to jump ship using the excuse someone else can take it further. At the same time he'll give the reason that he's not in ECR anymore to dump his shares on the open market. Then he'll go back to being Doc on the tinternet.
You are right that the price of gold is not the driver for ECRs recent rise, so what is responsible? Because sending bags of lumpy rocks to the lab is also not the reason for the so rise.
You twitter boys do make me chuckle. When someone comes along and challenges all the nonsense about the price of gold hitting highs and suggesting as ECR don't produce the price of gold is pointless today, you peeps start name calling.
Rather than name calling why don't you offer a reasoned arguement against the points I make, with evidence from the numerous Mike interviews going out on an almost weekly basis at the moment.
Over to you twitter boys, will it be ROQ or ECR that gets the deal done first 🤔😂😂😂
And in his last interview Mike confirmed that a major miner had gone in to the ECR data room as CB had claimed.....so the assertion Sausagd made that there would be no interest from potential JV partners until alot further down the line does not ring true.
He also stated that ECR would consider small scale production themselves if the geology and financial were favourable.
POG is obviously relevant as it increases the value of hold ginds and the value of any JV deal.
Also general interest in investing in gold explorers will increase as the POG goes up, helping the sector SPs increase.
Kuboid Hill results will drive the SP in thr short term.
Yes, the POG is a factor in sentiment, but it is in no way the main driver of the ECR SP at this time