RE: Lack of interestToday 12:30
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.