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So while the rest of the market is showing some signs of recovery, this seems to be doing sod all. Is it a case of "once bitten twice shy" or believe when we see it. The market seems unenthused for a stock that has a strong pipeline of news.
That being said, they will take 2.7m at a premium so there's clearly demand.
Dan, I'll send them a gold ring, they can then plant it, dig it up, and say they've found 24k pure gold :)
Dan,
‘ believe when we see it’. ⬅️ this
Too much waffle and hot air over the years, the market is responding by saying put up or shut up. IMO.
Can we dream for a minute? please? what they if they announce they have struck gold, then what? where will the sp go?
I think interest will come in time but let’s see I’m in for a trade
99% of the news flow will be jam tomorrow.
#1 ECR are an exploration company, not producers. They have no declared income but they are spreading themselves and the ££ very thinly over multiple area.....
- Reconnaissance Tambo
- Analysis Antimony core
- Trenching Lolworth
- Trenching & pilot testing BM
- Drilling Tambo
- Drilling Lolworth
- Paying a tax specialist?
- Nomad fees, listing fees etc etc
- Salaries (including the £1000 a month to those that get it)
What will ECR get? For all that money going in to the ground they will simply get a bunch of results.
18 Sep 2023 07:04 raised £580,000, less than 6 months later based on RNS dates 14 Mar 2024 07:04 raised £585,000. So over £1,000,000 raised in less than 6 months.
After the 18th Sept raise they spend enough of the money to warrant going out to get £585,000 more. So looking at how thinly they are spread, how long will it take to spend enough of the 14th March raise to go out and raise again? ECR will say that they are an exploration company and that is what exploration companies do. Raise funds (dilute your shares) and spend it in the ground.
So what am I expecting from the 2024 drill program, a set of results that says they have gold on the surface based on rock chips in a bucket. I expect them to say they have some gold at depth based on the core sample drilling that will take place (ECR refer to it as drilling to give an impression). I expect them to come back with 'new and improved' figures. But I also expect them to raise/ dilute another £500,000 to keep the lights on.
Toffers, ECR have already said they have found gold in rock chips, just look at the results they have already issued, and look at the share price. What have those results done for the share price, I'll give you a hint, sp sits below the last placing price. Results just simply tell us what most people in Victoria and other places already know, there's gold kicking around. Testing for gold in Victoria is like shooting fish in a barrel., but there are reasons why ECR never became a gold PRODUCER before or why another company hasn't snapped these licences up. You can guess why.
When will interest come? In my opinion when they offer more than results from a bucket of rock chips. Independently (outside of ECR) confirmed measure and inferred gold, and concrete funded plans on how to become a producer to sell the gold to create an income stream. ECR has no publicly declared revenue currently, only outgoings.
I forgot to add a conclusion.
In conclusion, with ECR spending the vast majority of their money in the ground, for that money they will get a bunch of results and still no revenue stream. I'll be holding off investing here until (in my opinion) the next placing occurs.
"with ECR spending the vast majority of their money in the ground," That's the plan, would you rather see the money go into paying fat cat salaries? You need results (by exploring) before you can progress to production (creating revenue). Name me one company that has sold a product before procuring or producing it? You are painting with a very wide brush.
Dan, I never said it was a negative re: "ECR spending the vast majority of their money in the ground".
Do you think I meant it as a negative? It is simply a statement of fact, as ECR has told us over and over again on Stockbox and other media outlets , money goes into the ground is what ECR infers to. I'm not sure why you are p155ed off with a statement of fact as stated by ECR several times.
Oh and why did Andrew Scott (Stockbox) state at the start of the interview "Our Chief Geologist Adam...." Does Andrew Scott the media chappie work for ECR?
Of course ECR need to some test results, again you seems to be jumping on the negative. The 2024 drill programme will give ECR more results, I don't see these results IN MY OPINION, adding a large amount of shareholder value IF (and that is a conditional statement of two parts that need to be considered together)and I'll state it again IF IF IF by getting these results it leaves ECR in a position where it need to dilute again. My own opinion.
The market has had no public statement from ECR on timescales to becoming a gold producer, in fact I'm not even sure ECR wants to become a gold producer. Certainly the 2024 programme as stated by ECR does not currently include any mention of timescales to becoming a gold producer. Do I think, IN MY OPINION, ECR will need to dilute again after the 2024 drilling programme, yes, but that is my own opinion based on the facts as published by ECR.
Eurasia managed it with a bunch of similar bucket samples. They employed ACF Equity to write a very glowing report on their behalf, may be ECR need to follow suit?!
C1p2d,
Sorry busy playing cricket.
Nothing to add to Sausages post..That's his opinion (the same one he had two weeks ago, a month ago, two months ago...so Ive nothing new to add).
I would agree with him that this will only multibag from here with a plan to move towards production, JV news, significant resource find at Lllworth or monetising the tax losses.
Until then we will likely be trading in the 0.26-0.4 range.
Obviously any future raise would be delayed by either the property sale or tax loss monetisation. If neither of those happen I would expect another raise around Oct/Nov.
Sausage, I like most on here have been here for a while and I'm under no illusion over what needs to happen to break the ECR curse. I'm sure that there was a belief of the board that interviews and Twitter PR alone would double the SP, not happening. However this being said, we have a board who are active and have so far shown that they are committed which is something we haven't seen for a good number of years. Until they start generating revenue they will continue to raise through the markets unless they can sell the property of utilise the tax loss. I would much rather they focus on developing a small scale operation at Creswick than smashing rocks in Tambo but hey ho. The long term strategy needs to be communicated, the "no guarantees" and "we may never have a mine is Creswick" suggests there isn't one.
TS - hope you had a good innings.
Lolworth is the key i believe, not just gold but the REEs *could be a major factor- especially given market heads are predicting the bond market is about to go belly up and commodities on a big run.