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I’m not doubting what Cp52 has said. It’s great that cp is adding more.
I’d like to see it drop back by another 10-15% or so, then I’ll add a bunch more
Though Hoping we’ll start to see some newsflow in next couple of months ....
L.
Ah, interesting. Useful info to know
L
So roughly 2.5% of stock sold over last5 days, and price has held fairly well. At a guess, some or perhaps all of those are from the recent placing...
Healthy 20% profit not to be sniffed at.
Perhaps another 5 or 6 million remain to be flipped?
So will we see more of a pullback over next few trading sessions?
L.
Thanks CP52.
I'll likely add to my position going forwards, but I don't see any rush at the moment.
Good luck to you.
Keep posting as you have been, as I do read.
Slift.
My guess would be to reserve 6 months financial commitments.
Depending on burn rate, i'd say that they'd want circa. 500k eur in the bank.
Leaves 9-11 months funding for ongoing operations. But likely to see another placing (or another method of cash raising) before the end of this year.
Slift.
Hi CP52,
I noticed that too. There are two figures in two separate RNS, 1.4m eur and 1.5m eur for end of December. I went with 1.5m eur as it made more sense.
Not an easy mistake at all. But as you say, let's ignore that.
1.5m eur: https://polaris.brighterir.com/public/erris_resources/news/rns/story/w15j79x
1.4m eur: https://polaris.brighterir.com/public/erris_resources/news/rns/story/x5le28r
Whether it's 460k burn or 560k burn, that's 14-17 months from end of June. Whilst as you say it's enough for ongoing operations for several months, I'd imagine the team would want to keep a set figure in the bank.
Slift.
I've had a small stake here for a while now.
I'm thinking of increasing my holding here when gold and silver prices settle down.
At the end of September, Erris had 1.65m eur cash.
At the end of December, Erris had 1.5m eur cash.
At the end of February, Erris had 1.3m eur cash.
At the end of March, Erris had 1.2m eur cash.
In May, 360k eur was raised through placing.
In June, Erris had 1.3m eur cash.
At the above rate, it seems like approx. 100k eur per month. Likely to have around 1.1m eur cash by the end of this month.
I feel like a lot of money has been burned through lockdown. We may see another placing soon to raise more cash. What do people think?
Slift.
Ah good point. Forgot about that commentary
L
So the thinking is that the exploration area may have similar characteristics to that found around the cononish mine?
L
I’m not a geology expert. I’m assuming your comment implies seeing galena is therefore likely to be a good thing?
L.
Interesting to see all the sells last couple of days, and yet without the usual pullback/markdown.
I’m hoping for a bit of a drop so I can add a few more...
Sigh. One can dream I suppose..
See Erris remarking on twitter today that their field mapping work continues....
Chart looks good for a breakout sometime soon, or does anyone disagree?
L.
Very interesting. Another buyer, Donaldsons and now Mr Thomas