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.
Non stop buying atm, something’s gotta give!
@Happyhaddock - no disagreement here.
@PaulFG - I suppose, for all the fact I am a retail investor with modest funds to play with I tend to think more like an institutional investor in terms of timescale, risk/reward assessment and blotting out short term noise.
It is true that good PR can make a big difference to the SP in the short term by boosting PI sentiment, but most private investors are, as you say, fickle, they need an endless stream of good PR to keep them entertained and interested. To hold value and grow a company needs good fundamentals and a steady flow of real news to keep improving those fundamentals, otherwise it just becomes a Ponzi scheme of selling ever more good sentiment until things collapse.
@Happyhaddock - totally agree. Though at this stage we're attracting retail investors, a fickle bunch at best (take a sample of posts of the the last two weeks, flippy-floppy, vitriolic bunch) incredibly sentiment driven. SO having a charismatic CEO in front of the camera would definitely smooth the SP journey.
Long term results will out and you can't change the geology so I think if we have good results nobody will care, but witness the reaction to the placing, the last drill results and moreover CBs performance in that first interview with STOCKBOX...
As I say I like the guy and his style, but I am one retail investor...and it's retail that will carry the stock for quite a while yet.
Agreed. Rather have a bunch of camera shy geology geeks looking for gold than a TV personality type
Who blags for a living. CB looked genuinely taken aback by recent events (probably after reading the LSE board lol) so we know He’s not a sociopath like many other CEO’s at least! He wants the results to do the talking, and the last few holes didn’t quiet but it but it’s JUST THE START.
Yes, Need to take in to account that the initial drilling was around the periphery of the resource to understand the boundaries so unspectacular results are not a bad thing.
Quite a few people (and I'll admit I was one) got excited with the visible gold and that may have set expectations too high for instant success.
The drilling is part of the process and as we understand the structure of the resource more the drilling results should improve , with the odd lower results as we again test the perimeter of each new drilling area.
Getting a drill in Creswick is excellent news and the more we prove that up prior to a JV agreement, the better our hand is in negotiations.
To be a good CEO of a minerals exploration company you need to understand geology and you need you understand how to raise finance, both of these things he seems capable of... however a trait he has in common with a CEO of another minerals explorer I'm invested in is that he is not a natural in front of a camera or an audience.
A company can spend money on folk with such skills, or pay for training - but at this early stage in the game I'm happy to put up with things as they are rather than have him take time out and spend cash on such trivialities.
Also.. do we have a seller on the loose? Surprised to see this dip again after CB calmed the nerves and announced ECR’s drilling expansion and license progress. Hey Ho.
On the bright side, when it does move (hopefully up!) it could well be a huge % all at once and wipe out these drip days in one swoop.
Cmon CB let’s have it!
Looking forward to the final few assays then further news on Creswick.
If the final 2 holes are positive (as they are more targeted) do we suspect they’ll drill more at HR3 before moving to HR4?
I think Craig is okay and seems to be pretty well liked, listening to various commentaries, BUT he could definitely do with a bit of media training to sound a bit more confident and less irascible in these interviews.
Looks like Craig has lost the confidence of a lot more people. He needs to get some reassuring news out and fast.
Not posted here much of late as BB has been busy and I really haven’t been able to add much to what has already been posted.
Not yet mentioned I noted from the Alan Green interview that CB said they had sent samples off to ALS labs in Adelaide. Remember the Bailieston samples went to Gekko so he has split the analysis across two labs.
I think they have been working on Creswick for a while now. Filtering with the xrf and sending off samples. ‘Two fieldies’.
I reckon the Creswick drill targets are pretty much advanced and now. CB intimated the contractors were lined up. It looks that way and a turnkey contract really does fit our model.
A second drill imo would be better when we have a JORC resource and/or JV to add ounces rather than a wildcat expense. I am now leaning towards Craig on that point. Use this £6m wisely!
I have been looking at the last drill results against the schematic and given where the shaft is I can’t believe the two misses. I think they may have been trying to clip the orientation of the reef. 6 drills is really not a lot of meters, it’s still early days.
ECR mentioned at 10mins
https://total-market-solutions.com/2021/04/guest-interview-vol-12-doc-holliday/
Trek
Ok. so second interview was quite a lot better. Clearly more relaxed, although not completely at ease, with far less mumbling and a lot more cohesion and confidence.
Fair enough with the apology about the cash raise but now actions are more important than words and he needs to make sure that the 6m is put to good use and not just wasted away frivolously. However, I would rather he didn't involve us PIs in small cash raises like this one as I've heard it takes far longer, costs more and can be a pain in the backside with what is involved. If there is ever, and we can but hope, a much larger cash raise down the line when required to fund "proper road to production" stuff, then I would like to be involved. Until then let them raise the cash as quickly as possible when needed. But obviously not to do them when they state fully funded and without having a proper purpose for it.
I felt like he was also kind of apologizing for the assays at one point. This was not needed at all and felt silly. Assays are assays and they can be bonanza (love that word), good, mediocre or bad, but they are just assays. You hopefully learn from these and hit the hot spot next time.
All in all he seemed a lot happier himself that day, he didn't over-egg our prospects too much and told us he kept it to basics of what they are planning to do next. Like I said the key now is for them to get on with using the 6m quickly and efficiently; and not having us asking in six months or a years time whether it's all gone on wages and bonuses because we've had so few holes reported back.
6m is a very nice little nest egg! He's now done his talking and it's time for them to really get to work!
With a bit of luck maybe we'll get a Blue Moon Bonanza RNS one day...
T&T
Gino ... informative post and one I can relate to .I was appalled by the deceptive placing .Craig regrets it because he knows Novum have played him to make money from well meaning pi's s . I sold out at a slight derisking loss and bought back in low as Craig's weaknesses as a CEO has been shown .That's why we saw the humble pie interviews. I now believe that Craig has learned from recent debacles and now realises that he is not as clued up as he thought he was .Theres still great prospects here and Craig knows he has been a fool and knows he has to move heaven and earth to rebuild his reputation. I believe such a reality check will inspire the company to now pull out all the stops which is why I reinvested .Albeit with a few quid less .Then , let's watch the plot unfold with renewed impetus. Its game on now .One hell of a lot to play for on all fronts They darent mess up again .Theres just too much at stake .I'm watching with interest .When someone feels they have something to prove , true colours are shown .Watch this space .
and that jackthe bear is what I hope he does - learn from the mistakes and not repeat them. We have all committed gaffes in our working lives - the key is to learn by those gaffes.
But I repeat - what was a handsomely paid (over £100k pa) chairman Tang doing throughout all this?
Jtb - after that interview, it's CresWick, not Creswick :-)
Thanks Flic for pointing out that out.
How can diluting the SP by such huge number is good? The SP did not need this dilution as CB has been collecting lots of warrants which had been exercised, so we were already being diluted almost every week at one point
The 6 million in the bank is not what this market are even remotely interested in, that is chicken feed
The real money is with substantial gold and copper find , and until and unless we get need of any such finds the SP will hover around 2 P till the cows come home! As the market will not push the price up so that bunch of unknown investors who are the client of so called broker can make a quick buck and move on to the next pray as these investors are not in love with ECR they are after fast profits
Whereas us loyal LTH’s see a different picture and whilst we all want the company to be successful and see this as another GGP in making
So I hope and pray that CB can make us all happy by further good news and more communications as he appears very media shy
@Alavib I think you are a little confuse with how placing is done and what CB said, so first as CB mentioned in last interview (which is also exactly what I estimated and wrote in previous posts prior the interview), the placing proposed to him by the broker - he has no idea whom the actual investors are - they are the broker's clients. Second, when he mentioned placing was a mistake, he means the way it was done and the timing - however - note that while this is now water under the bridge, it does puts ECR in a MUCH stronger position, in fact, 50% more available cash and steam than before the placing. So bottom line, while was a mistake at the time, we also gain a strong position and benefits for the future.
I watched the recent interview with AG TBH I thought CB cut a very nervous and unsure character which is a worry
AG quite rightly started the interview with how the share holders are baffled about the 2 million placing
And this despite the company did not need the cash
CB’s reply like a rabbit in the middle of the road was yes maybe that was a mistake!!!
CEO’s are not there to make such blunder and mistakes, which make one to wonder who were the people who were offered the share at 2P? Was this a conspiracy to get some mates on board at over 40% discount to the SP at the time
I hope as you said CB had learnt from such a very suspicious mistake and in time will make amend for such blunder and deliver decent drill results as well as good news of JV’s
I really hope so as a lot of here buying at over 4P are not that impressed with this CEO
Jtb - thanks. Agree with much of what you have said there. From the second interview, it looks like we should start the drilling at CresWick next month, which alongside the continuous drilling at Baileston, means there is plenty of newsflow to come here and look forward to. The one positive from this period is also the gold price which should give the whole sector/sentiment a boost as well.
All in all, everything could come together quite nicely here in the next 3-6 months. Let's hope so...
daramuda - CB is NOT an Aussie
Jtb - is your 8-10p target predicated on a JV, or do you think ECR will get to 10p purely on decent drilling results at either Creswick or Baileston and/or award of new licences?
I watched his second interview, and whilst better than the first, it wasn't exactly great either. I think Alan Green had to steer him through it and CB still looked a bit hacked off. To be honest, I've never found CB all that great in interviews, in all of the ones that I have watched over the last 8 or so months. I think it's a shame that ECR don't have anybody else who can help front some of the media work, because I don't think it's CB's strength. A lot of companies mix it up a bit in terms of the media work. Whilst ECR have only a small team, maybe we could hear from the geos as well from time to time, perhaps alongside CB, or the Chair, which I think would work better and take some of the weight away from CB? Anyway, as I keep now reminding myself, it's ultimately not about CB, and like others have said, my focus will be more on the results on the ground - results will speak louder than words, and is what I will try to focus on from hereon.
Gabrin, You are correct about Blue Moon and the drilling permits...that's the only reason HR3 & HR4 are first in the queue