Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Star (and your glass half empty) it is good news for all holders averaging a penny or less though.
And I'm sure those averaging 3-4p would rather see their holding start to accumulate value back up to (and hopefully beyond ) their original buy in.
I'd rather see a daily gain than a loss.
I average 3p but here for 10p+ however long it takes.
I bought some in the 3-4p range so need considerably more than 10-20% myself, but I’d take it any day over these 1-2% drips.
ORR released an operational update this morning and the SP is up over 10%, 20%+ on open.
That’s what’ll happen here once we get an update on CW IMO.
I’m frankly a bit frustrated this morning I feel like CB has ‘done it again’ in regards to stating timelines in interviews which aren’t backed up by news flow and causing a drop in SP. It’s self destructive.
News should drop any minute really regarding CW and turn this ship around. We’ll perhaps get another interview detailing the nitty gritty?
GLA. CB please put us out of our misery!
Things will turn out good here I’m sure, but CB said in his last interview CW drilling will commence end of April beginning of May. Well......
He has had a lot of criticism recently for dangling carrots. Let’s have the update as it’s now mid May.
Good discussion,
I’m still holding here, 40% down after doing lots of research on the fundamentals here. Opportunity hasn’t gone away but the sentiment and patience has. Overbuilt the play and underdelivered is a recipe for investor anguish. Add to that some YtS level PR with the Twitter rehash. The company need to RNs the operational plan to give investors the confidence as such guesswork on licences and drill programmes doesn’t help build up the confidence for the next technical swing
Jtb - agreed. I've just listened to the interview again (link below). His specific words were along the following lines: "We have a contractor almost ready to go. It's either the very end of April or beginning of May that they will actually start the drilling on site at CresWick." Later in the interview, he confirmed this again and talked about 2000 metres of drilling at CresWick, and then possibly more drilling after this depending on the results. Therefore, it was a very specific statement from CB and volunteered completely by him, rather than anything aspirational or a slip of the tongue. All being well, an RNS should, therefore, land any day now to confirm the drilling has commenced assuming no snags or delays.
https://novuscomms.com/2021/04/22/ecr-minerals-ecr-ceo-interview-alan-green-talks-to-craig-brown/
Yeah exactly.
Think it would just bring a little bit of life back to the company. Plans moving forward. Campaigns at Creswick, Bailleston, Tambo. Ongoing plans to build a lab at Bailleston.
Would be appreciated. He didn’t drag his heels with the drill at Bailleston, just hoping he follows suit and Creswick drilling is imminent. It would be a welcome boost.
Don’t Worry Wolf ! It’s Coming !
Let's hope so AG1989. It just strikes me as odd that the company is gearing up to start drilling at CresWick, but yet all of the retweets are about Baileston. CresWick drilling is surely the bigger story right now and the silence about it on the twitter is difficult to comprehend in such circumstances. To be honest, when ECR said the drilling would commence late April/early May, I was very surprised at the timescale, especially as the drilling was not planned and we are using independent contractors. Given the recent record of saying things that turn out not to be correct, I guess I would welcome even a pointless retweet about CresWick, whilst waiting for the RNS. This is what happens when you lose trust/sentiment....
Maybe just finalising the contracting rigs and permitting - But a change to Creswick would definitely be a much needed welcome
Not overly concerned about the Twitter retweets of the slideshow, you can either let it anger you or accept you just have to wait for news
I am only interested in an RNS, the rest is just back ground noise imo and mostly unhelpful in setting up unrealistic expectations...
Can we/should we read anything into the fact that none of the recent tweets have been about CresWick? All of the tweets have been about Baileston and if you read the comments on twitter, theses tweets have not been well received (anger towards CB is evident on twitter as well). It would be good to know who does the media side of things at ECR, because you would think they ought to be tweeting about forthcoming drilling at CresWick and building up the hype, and not just about Baileston prospects.
I'd wait for the latest assays to arrive to then conclude where to move next, i think as stated elsewhere, there are permitting issues with Blue moon or they would return there.
They've moved from the Byron Reef to Mauri reef. If these results don't look appealing, I'd move to HR4. Next month is the 6th month of the year and up to now, there's nothing concrete telling me there's enough evidence to spend another 3 months in the same area. You kind of feel like this is it for CB. He has time, he has the finances, but if he doesn't make the most of this £5.8m and start delivering results, can you imagine how the next placing will be met
Fingers crossed we hear soon that Creswick drilling has begun, will make me feel a little more settled here. "late April/early May". Might be struggling in securing rigs but they'll get it sorted sooner or later
If they are not great, then it probably wouldn't be a bad idea to release them at the same time as announcing the drilling at CresWick? The previous RNS suggested there was more drilling being undertaken/planned at HR3. The recent tweets haven't given too much away, but you would think they are still working away at HR3. Even if the results are not great, you would probably want/expect them to fully complete drilling at HR3, before moving onto the next prospect. If the results at HR3 continue to disappoint, then there is a strong argument perhaps for choosing one of the higher priority targets, which it looks like they might well do?
Happyhaddock - agree completely with your post.
The visible Gold conundrum is a funny one. As an investor, it's exciting to get that information premature. That being said, when you hear nothing for the rest of the other holes, a little bit of doubt sets in and as it turned out, the other holes were not up to much Kop. At OMI, they reported "100m of visual mineralisation" and when assays came through, this turned out to be one of the weaker returns
It's all personal basis but for me, i like that element of surprise and not this giant build up of pressure with "visible gold", expectations get far too high. Just let the process take its course and release information when ready. Communication does need improving from the board
sentiment is a fickle thing and the advent of the digital age has greatly reduced the attention span of most investors... I'm sure if we all just wait and come back in a few months the topics of discussion will be completely different.
ECR has a lot of potential, the cash to explore that potential over many, many months to come and a CEO with good reason to try and boost investor sentiment and trust... one good set of drill results and we'll all be singing a different tune.
It's perfectly normal, though far from pleasant, for juniors to experience routine 30% pull backs en-route to success and pullbacks over 50% are not that rare.
This probably isn't the sector be in if expecting a smooth safe ride.
What's the delay with the remainder of the drill results and have they started drilling as mentioned in previous interview?
I guess I am just trying to move things away from CB and generate some positivity on here (after other posters on here yesterday suggested it was time to do that). Clearly, a lot of damage has been done and people will be slow to 'forgive and forget' and rightly so. It's difficult when you like the company and its prospects, but not the CEO. I imagine this scenario happens a lot on AIM? I can think of (at least) one other of my investments where I am not so sure about the CEO. However, the company has decent assets (with some proven results) so expecting it to come good eventually.
Jtb - you are right about CB, but if the drilling produces really good results, that would dispel a lot of the recent concern about investing here, make it less about CB, and more about the prospects. At least we would have something totally independent of CB to justify our investment here and regain our confidence. It has to be results in the ground, rather than words that come out of CB's mouth, that salvage the situation from here. I can't see what else will do that for us?
Much as tweets & interviews can add to the excitement/anticipation I'd rather see an RNS letting shareholders know, officially, what is going on. One must be due any day....
ECR tweeting about Black Cat today referring to it as a high priority target. Now, if we got a RNS confirming drilling has recommenced at CresWick, and plans for Midas to drill at Blue Moon or Black Cat, that would generate some excitement and anticipation. Come on CB, get that RNS out.
BOJO2020 - you are quite right that our cash will be used up but we are fully funded for the current drilling planned at Baileston and CresWick. Having our own rig must reduce the costs considerably and gives us some flexibility as well. After the recent raise, I don't see any issues with finances for a good while yet. In the future, things can and will change. But hopefully, we will have at least one JV partner in the next 6-12 months who will take on (most of) the financial responsibility for further exploration at CresWick. I think the single biggest determinative factor here isn't CB, finances, sentiment, licences, etc but whether and how much gold we find in the next 3-6 months from the drilling at CresWick and Baileston. If we get decent results, then EVERYTHING else will take care of itself. All IMO
Legal I always enjoy reading your posts as you are thorough. Your 13.38 is another excellent example. Now I am sure you appreciate that success at ECR is not only about the positives, but som much more.
For example, we have 6million but that will get eaten up pretty quick. That’s the way of the world and certainly the way of mining. My point is does any one know how much cash this baby will need to fly?
Great post.
Plenty of mining companies having a good few days with rising gold prices etc.
ECR will stomp towards its fair value soon enough, spurred on by its actual news flow that will commence this week if not next.
Look at EEE, 19% in a day, no RNS or news. I’m invested there like many others and it goes to show what can change in a day.
My largest holding is ECR and for good reason.
Onwards and upwards, isn’t that two green days in a row ?!