The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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"The first diamond hole drilled at Creswick has immediate success intersecting 1 m @ 9.68 g/t."
That is a damn good start, not unexpected but always surprises me that a drill hits any at all considering the size of it versus the size of the prospect. Always wonder how much they miss i.e. they could have been within millimetres of large nuggets and won't know until it is mined.
Assays still awaited on 4 holes so encouraging.
Sounds like came from around 100m deep or so as just below DMS at 90m.
Well one drill hole doesn't make a gold mine, and we all know there's a long way to go yet... but nobody is going to grumble at at an intersect of nearly 10g/t from a first hole
Here hoping this sort of news and these sorts of numbers become routine enough to justify building a gold mine.
Very good start as did will position them nicely moving forward.
For the first hole to return 9g/t over 1m is excellent and I’ve got a feeling the DMS will be throwing out high grade on a regular basis. Very happy.
And will **
Let’s see if we can continue it throughout the campaign.
but yet the share drops......mm's playing around???....what is going to turn sentiment around on this share, as not even two decent rns's have done much....
Craig being removed as CEO will fix sentiment, I have no doubts about that.
Will it? dont agree. Also, those who know even slightly what they're looking at will know this is a positive result. It wont rocket the sp because theres no big numbers involved that will excite the market, yet. But we know this is the start.
He's proven he can't be trusted. You telling me if we swapped him out with Gervaise Heddle, the SP would tick up?
Yes that placing and spate of flustered interviews really has busted the flush currently hasn’t it! Very frustrating indeed.
However...
The material news is now starting to drop. Hole 1 achieved what ECR hoped (according to the rns) regarding identification of the shale and where to drill next.. HR3 results due and the fact that they’re heading back for an unscheduled phase 2 implies something’s brewing!
Let’s have more results ECR.. a few mega hits wouldn’t go amiss!
GLA
There are clearly sellers or some sort of short term shenanigans going on though.. As this is the second time we’ve had a positive RNS, sp marked up then immediately marked down.
The thing is, shares like ECR drop with news then rocket 40% in a day for seemingly no reason. I’ll never truly understand the stock market!
EL006184
80g/t
11g/t (from an untested sample)
9g/t
It’s showing up real potential at Creswick for what could be shallow high grade deposit. A lot more work to do but I’m encouraged by that start. Could have been worse, a lot worse and in fact we’ve struck well.
It makes you excited about the rest of the campaign and release of assays, rather than dread and worry and 200k thrown down the drain.
I have wondered for a while if there have been warrant sells going on and we have no way of knowing max (not going to call you mental). I also suspect that shorts were taken out a couple of weeks prior to the fundraise by insiders , again no way of knowing.
At some point both will end and leave no sellers other than scared PI's and at that point that is what causes the rises .
JTB nice to see you back. Too much of a one-sided conversation going on here lately.
Indeed, so much to come.
My honest opinion is sellers throwing in the towel now, considering ECR are literally of the verge of releasing assay after assay.. are better off gone frankly.
Apart from the obvious sentiment issue that ECR have addressed very well (their daily Twitter updates are fantastic and insightful + CB has since carried out a number of far more confident interviews) I see only positively. Sure, some results won’t hit, but we only need one BIG one to be life changing and they’re firing on all cylinders.
Enough from me, happy with today regardless of SP and looking forward to more!
GLA
I cannot buy in volume Jack on EQI.... ?
Buy order in for me.... Kill or fill 2m @ 1.8p....
Well ...its not been filled...something not quite right here....
Either MM's have a big buy order to fill or they sold shares have already been snapped up...
This will finish blue today....
Sentiment a little down on gold .... a few preferring pharma's
This is an explorer with legs..... BUy ..... BUY....
To me that says there are no warrants left and any shorts trying to buy back (they always look after the shorts , then everyone else , then give the dregs to retail).
Traders will also be trying to buy now as it has hit the point where they want to.
Changed it to an all day buy order....
This is a false drop..... No need for it.... Ridiculous.....
"2p plus after that update...
Every day of the week ....
Fair play JTB. Simply acting on what info is presented to you. cant argue with that.
With 7km of the DMS on their patch Jack they have a long way to go and hopefully will have pricked up the ears of the potential JV partner, that was what Creswick was always about .
junior explorers, and to a lesser extent the whole of AIM is as much about short term sentiment as long term fundamentals.
Those of us with a time frame and horizon measured in years can see the potential in ECR, and will probably continue to sit on the shares we hold, thereby doing nothing for the share price.
For those looking for a short term trade then it is likely to be years before we start making a profit from selling gold and that is not guaranteed. Until then short term sentiment will dominate. If everyone believes that good news will push up the price then traders will pile in and make such beliefs a self fulfilling prophecy. However the arrival of actual news (good or bad) invariably hints at the fact there will then be another wait until the next news arrives and so will always be a trigger for some short term traders to move on.
Welcome back Jtb - didn't expect we would see you here again, but nice to have you back. Plenty to discuss here over the coming weeks and months. We also can't have you missing out on that JV now can we :-)