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I will only post this once, what you do with it is up to you. I've been meaning to post this for a while but I have moved to Oz from UK so had a lot to sort out.
In October 2021 I wrote to ECR raising concerns about the direction the company was going, the lack of any ‘substantial’ RNS and how the company had been ramped with baseless speculation of a takoever (among other things), the property spending spree etc. I also raised the issue of why an old 80 year old friend of the CEO had been hired as a NED when there was clearly nothing he would add to justify his salary. The responses were so touchy it had clearly been taking personally- I wont post the exact responses out of respect, but it was very unprofessional. I had no doubt who was responding to me.
Prior to the heated exchange, I had ran some of the assays past my brother’s godfather who was a senior geologist in AA. He said they were poor assays (despite us being told it is because they are drilling across and not down) and was surprised that the company were so bullish about the results.
ECR was once one of the most cash0rich mining companies on AIM after large raises on the back of unjustified takeover speculation (even though they were- and continue to be- nowhere near any sort of mineral resource). The money was burned through rapidly- even if some of it was retrieved by the selling off of property. Other juniors have used less money to prove up a resource- but this continues to elude the company.
I would encourage anyone to spend 5 or 6 years going through the history of ECR and you will see the same thing- nil material progression. In that timeframe- I guess at least £1.5 million been paid out in salaries to directors. For the private investors, it hasnt been such a fun game.
And before the rampers come, I challenge anyone to show these assays to any expert in the field and say if they disagree with what has been said already about the quality of results that come **trickling** in from ECR.
Like I said, I will only say this once. Im far too busy to respond with life in sunny Oz to argue with rampers and people who have got in over their heads so try and pump to recoup their losses.
But wish you all the best
Please Tell All …..Who Was Responding ?
Please Tell Us …. How Olds You’re Brothers Godfather ? And Why He’s Working For Alcoholics Anonymous (AA)….
Sadly We Will Never Know ….As It Seems To Be Your First And Last Post ….
The reality is that since October 2021 the company has a new CEO and has changed direction.
Not sure what criticising the former CEO {RIP] can achieve.
You’ve really got your finger on the pulse.
The Reality about Oiland is that he’s a waste of space
Oiland, you have just summed up.this company PERFECTLY .You're right ....the post won't be popular .But it's correct in its entirety !! This company has nothing but false dawns and fat salaries .Its been the ultimate carrot and donkey share .
ECR needs a kick up the @rse for sure.
RE your geologist, fair enough, but I think AJ would argue context. ECR have made it clear the recent drilling hasn’t been in ‘hot spots’, rather to identify systems so a geo simply looking at gpt etc may not appreciate that? - btw I’m not defending or ramping… It’s LONG overdue that ECR start drilling the red zones and stop faffing around the edges!
I’m hoping under Haythorpe’s guidance we can finally grow. And yes, certain board members are questionable!
............oiland..........these are the assay results after retesting (below)...................did you run these past the Godfather, because if you had he would have told you that the " make-up at Creswick make it very attractive indeed, did you show him these results, of course you didn't? Lol
"Duplicate sampling of selected quartz-mineralised intercepts from the diamond drilling campaign of 2021 shows significant increase in reportable gold grades including;0.7m @ 47.75 g/t Au from 147m in hole CSD001.1.1m @ 6.13 g/t Au from 98m in hole CJD002.1m @ 3.9 g/t Au from 86.5m, also in hole CJD002"
...........in fact one of the most senior imminent Geologists (who now works for ECR) in the whole (pun intended) of Australia ordered the retesting, leading Mr Haythorpe to label Crewsick "the Jewel in Crown"
I love it when a selfless poster appears with only one post in which he tries to save investors from themselves.
There should be more white knights like this in the world.
And their 'brothers godfarther' ('s dogs, cats, friends down the pub) give their opinion on information over 12 months old with a previous management team.
I mean I am sold and totally give loads of weight to the post.
Forget about Creswick improved results with re-testing, new Lolworth Licenses, additional licenses at Creswick and Baillieston, the new Hurricane project, additional resource identification at Creswick, Additional minerals discovered at Lolworth or a new very respected CEO with a record of developing small explorers giving the company a new focus and direction and disposing of non-core assets.
I mean apart from that nothing has changed in the last 12 months.
Everything you say is correct TS - but the fact is that (as yet) the assays haven't been good enough to move the needle north. Only consistent high grade assays will get the SP motoring - the rest is just the supporting act.
Furthermore, I concur with the view of some here that certain Board members of of dubious value.
I am with you on some BOD members not adding value
Well looks like some have thrown the towel. To be fair it’s tax month so some will be cashing in to pay the bills! With gold rallying surely the mining sector will wake up this year?!
........it's funny how Gino, sorry oiland posts at 1am (supposedly from sunny Oz) on Blue Monday, in January, it's p$$$ing it down, no one has any money after Christmas, tax bills to pay, waiting for ECR news......shorters paradise!
Name of the game I suppose TI.
I fancy some news this week. ECR waxed lyrical about the 'new lab' churning rock sample results faster..... well?
Don't hold you breath Mental, there appears to be some disconnect between what the board expect and what is delivered. The Bluemoon results were expected back in early November - now 8 weeks late but we'll call it 6 because of Xmas. Ask yourself how a sub-contractor can be this far behind in what is a "quiet period of activity".
Tamer investor , lol . A proper Ecr diehard .And now you are suggesting that Oiland is Gino , lol . I thought magic mushrooms were out of season at the moment ? You are living in a world of make believe . Funny though I must concede .lol . The penny just will not drop will it ? Lol .
It's embarrassing frankly Dan and making the BOD look like headless chickens. If I were Haythorpe I'd be demanding compensation for reputation damage. The labs have been a key factor in sentiment erosion over the last few years. Pitiful.
WTF am I getting accused of now?
Is it the standard:
"Gino isn't invested"? - proved I am
"Gino is shorting" - still waiting for proof if any short can even be opened in ECR.....but the first point cancels that theory out haha
Standard p!$h from the traders.
Since i can't read my name mentioned in anyone elses post, it's clearly from the smegma, know as Tamer.
The person who is in the mute bin because they have been proven haven't got a clue what is going on.
Simply waiting over here, on the sidelines, for blue moon extension results that the traders expect to be bonanza.......bring it on
Dan, The first Blue Moon result was delivered in mid November as expected.
I don't think hole 3 was even finished until late Sept/early Oct if I remember correctly so I don't think all the results were expected in Early November (as always happy to be corrected if you post a link).
Gino, I agree that it is annoying to be accused of being a poster of having two logins/names with no evidence/rational to back it up (of course you did that exact thing couple of weeks ago).
Also looking forward to seeing what Blue Moon holes 2 & 3 bring in the net week or two (hopefully ;-)
Talking Sense,
I don't know what I'm getting accused of as I said I muted them. So I'm accused of having two logins? Cool story
Annoyed?? Nah, I dont care what the animals at the farm think......I'm a narcissist afterall
LOL...at least a narcissist with a good sense of humour.
Now can you please close that short so wee can get the SP moving ;-)
Throughout the course of 2023 we shall see where the true picture of ECR lies.
The pandemic, assay lab delays, the passing of Craig Brown and the appointment of Andrew Haythorpe moving in a slightly different direction. This will take time as new working relationships have to develop as things settle in.
This is a good time to buy, hold and speculate.
......hey Gino, (eer sorry) oiland , did you run the Placer Gold deal and the Hurricane Project past your Brother’s Godfather (the senior geologist in AA, lol!! good one) ......... and is he familiar with, Dr Harry Wilhelmij?
10 trades and over 20 posts....another slow day as we wait for results.
Livened up a little by Oilands' impression of Michelle Dubois (from Alla Allo) "Listen very carefully, I shall say 'zis only once!"
Have a good evening all....red dot watch continues tomorrow!
........oiland how was the Oz sun yesterday, did you have Gino and Melville (alright "pal") round, throw a few shrimps and mushrooms on the Barbie, sink a few tinnies?......lol