Member Info for aamm93

If I’m not mistaken today was Palumbo’s last day as chairman, I wonder if he’s left the company completely or just stepped down from the BOD - I’d imagine we’ll will get an RNS about it tomorrow.

It’s also the halfway point in the forecast drilling programme isn’t it? I wonder if we’ll start to get more updates. Praying we get one that teases the presence of gold!

PYC are Physiomics - Nick and Mike Whitlow did something of a hostile takeover of the company against the wishes of the old board back in May I think it was. They forced an EGM and got enough votes on their resolution to take over the running of the company.

I don’t think he’s involved in the day to day running of it but I’ve seen him on interviews with them.

Ive done my research and come up short, hence my comment. If you’re so educated on this, tell me what exactly has been submitted to the authorities? Do you know the documents? Do you know if there have been delays or issues? It’s almost inevitable that there are clarifications or agreements that come with these. It was even mentioned in one of the interviews I believe.

You’re right I made a mistake on calling him the owner, noticed that after posting but you can’t edit on this. Yes we the shareholders are and we deserve to be kept up to date on what’s happening.

To be honest I’m amazed that you’d be happy to blindly sit back, watch what’s happening and not want answers. Surely you want answers too?

Casper - you’re right and I wasn’t being very clear.

What I meant was that if the results come back positive, that’s when this share price will grow, it’ll be a chance for anyone who invested around this level to take stock and either bank profits or continue to back the progress on the next steps - almost certainly we’d then have another placing (at a higher share price), which would help to generate more money for less dilution.

If the numbers disappoint, we will inevitably need further placement at a much lower share price which will damage the reputation of the company given their history but there are still multiple opportunities for growth over the next 3/6 months even in that scenario.

Bottomzup this is the point, ECR is literally going through it's most crucial period in it's history and he's off being very busy with other companies - why?!

He is also involved in PYC and was being interviewed about that too recently, not the best look for someone that is supposed to be leading ECR.

Get this year out the way and then focus on other interests. His greed is damaging his own reputation.

Don't get me wrong the actual work on the ground and delays seem understandable. The structure of the company now and direction also is seems well done and if they pull it off it will be a really well delivered turnaround, which is what makes it even worse. The questions I've listed wouldn't be difficult to answer so why not answer them? It'll give them some time, even if the share price drops in the mean time - who knows with more clarity it might even start to rise and give us shareholders a little bit less stress!

Foxyjoe - unless I've missed something the current board is only the 3 following individuals:

James Parsons who joined late 2025

Gerry Madden who joined late 2025

Brian Cole who joined in 2024

So none of the baggage you've been bashing so heavily.

Gerry Madden was FD in EQTEC between 2017 and 2021 where the SP floated around a stable price range rather than collapsing, I cant see that he was here during the disastrous period that I'm assuming you bought into?

Mendez has been sidelined by the looks of it.

Whilst I'm not sitting here saying everything is rosy, sit back and enjoy the growth - I've said before this current plan will live or die by the results over the next 2 months, I don't understand what seems like fake news?

Sorry for the rant but I am getting beyond silently giving the benefit of the doubt with Nick and this leadership team now.

Two weeks of absolute radio silence, not so much as a photo, a share price that is sinking and a number of serious questions that remain unanswered. Nick has been out promoting his other companies over the past two weeks and hasn't responded to a single email that I have sent (I wonder if anyone else has tried).

I know they read these comments and there are those that interview him on this board. It's about time he stood up and clarified the situation instead of his weak leadership, owned the situation and gave us the answers we demand. Those that interview him, you have a direct line to him. On behalf of all of us shareholders that have bought-in off the back of a strategy that we want to be updated on, can you ask him the following:

1) What is the latest situation with Raglan? Why did they post a tweet saying there was a major breakthrough then absolutely nothing? What did they expect the reaction to be to that? When can we expect an official RNS on production figures or a target date for this. It clearly has a major impact on a potential future placing so we need to know.

2) What is happening with BM. Not some wishy washy we're in talks with the authorities, what is a target date, what are the current problems that need to be resolved and what is the actual plan once started? Give us timelines.

3) What is the programme for Madden? What actually happens when this site "goes live"? Does it need to recruit staff? How long will it take to start producing gold and how soon can we expect to be updated once it starts?

4) Why has there been such little updates? Why does Nick think its acceptable to not update shareholders at all? Only a weak minded leader would do this, real leaders own their problems and the good ones turn their problems into positives.

5) Why not hold an EGM and allow shareholders to have a proper Q&A instead of scripted promotion. Show that you're someone worthy of owning this company.

I'm literally fed up with asking the same things and getting no response. It could be said I could sell my shares but then I'd be at a loss and these assets are worth the investment, it's this part time pathetic leadership that is ruining the potential of company without so much as batting an eye-lid.

If they were able to adequately answer my questions and achieve things then I would gladly sing their praises, lets see who Nick and the board really are.

Are you seriously admitting on here, in front of everyone that you’ve got no idea what the link is between the price of gold and a company that is strategically now planning on mining gold?

Are you struggling that much? Seriously?

I’m not here to explain it to you, this share will live or die by the results, not a chat board.

I just hope for your sake you haven’t invested.

TS - Pretty much a spot on summary.

2 weeks since any sort of comms, volume has dried up to a treacle and SP is starting to rely on support to not slip into new lows.

Quite honestly I'm only keeping my sanity because of the perceived low risk of further consolidation at the moment to keep the lights on. As long as that doesn't happen before we get a clear positive strategic direction with numbers from Raglan and start dates for BM / Maddens then this can easily recover.

Could also do with some stability or positivity in the price of gold to bring confidence back to traders to get this market moving again too. Gold AIM shares seem to be taking a hammering all over in the past 4 months.

So many people seem to have extreme opinions on here.

Ultimately the previous leadership and strategy as mentioned was a disaster and was just never going to be profitable. Even with golds drop in price right now it's still grown significantly higher than the day-to-day costs making even low grade mining profitable. Pretty much every forecast sees gold rising again in the 2nd half of this year so it's only going to get more and more profitable.

Personally at this share price/MCAP, quite frankly they could double the share count and still realistically become a £15m(ish) MCAP company to get this share price around the 0.02-0.03 mark. Given the ease of this kind of mining it really wouldn't be too difficult or unrealistic.

There is a massive overhang that is currently being churned through, we see that every night with the delayed trades and given this was done at 0.015 I'd be expecting that to be the anchor at which the SP keeps drawing too until the churn is over or we hit a SP moving news RNS.

As for why the Directors aren't putting in - well Gerry Madden already owns 1.45% of the company and the rest of the BOD has their warrents at 0.045. I'd have thought it was a no brainer that you would be driven to drive the SP as high as possible before claiming them and making as big a profit as you could. It's almost risk free for them so it's pretty obvious on that respect, not to mention there are also AIM rules on when they can buy extra.

If the test results come back badly then the likelyhood of me making my money back goes becomes next to 0 and thats probably why the demand right now is being outstripped by the supply and huge overhang. In that case i'll try to sell and it'll be damage limitation. Ultimately everyone makes their own decision and needs to do their own research.

As I've said before, beyond the potential of these assets the BOD have considerable warrants exercisable at 0.045 so the idea that they would happily dilute from this share price is just idiotic.

Of course there is going to be further placements in the future but you can guarantee that they'll be trying everything they can to make sure that these are done at a much higher SP than we have right now.

Also worth remembering that the last placing was done at a huge discounted rate in order to pay off existing debts and provide the capital for this transition into gold/copper mining and initial exploration phase.

If this was 12 months ago we'd be seeing the SP jump on anticipation right now, but times are tough almost everywhere and the market is a lot more risk averse before moving.

Results and updates in the next 2 months are all that matter for which direction this goes. For all of us lets hope they meet expectations.

AG1989 - I agree with you that BM feels the more exciting development. The way the price of gold has exploded over the past 1-2 years means that alluvial mining is now starting to become a simple, low risk and cheap way of extracting gold with a huge profit margin.

Raglan almost being a testing ground that also brings an income seems like an ideal way to start too.

I just still feel really disappointed in the complete lack of progress updates from the team. I saw Nick last week heavily promoting his latest company, which is fine if everything is going in the right direction but it cannot come at the cost of ECR and right now we are probably in the most important period in the companies history.

They really need to be more active with photos or updates just to show that it's still progressing if nothing else.

JC21 James Parsons has circa 370,000,000 shares in warrants (Gerry Madden not too dissimilar) that is exercisable at 0.045.

Palumbo is leaving at the end of next week.

There is also a new de-facto majority shareholder with a history in mining for large scale companies hence the pivot in direction.

This is effectively now a brand new board and brand new strategy, maybe do some research before posting generic rubbish.

Just to add to my post about the BOD having skin in the game, the February restructure RNS states that James Parsons has circa 370,000,000 shares in warrants (Gerry Madden not too dissimilar) that is exercisable at 0.045, so well over double the current share price.

To me that sounds like a strong reason for the BOD to prioritise share price growth rather than dilution without consequence.

Not sure if this has been mentioned already but the 7th May RNS states that Gerry Madden holds 1.45% of the Company's issued share capital with more in warrants.

Not sure about the others on the BOD but that shows that they do have skin in the game.....

I said last week it was great to see the news coming through but sadly this week has been yet another where we’ve had radio silence, which again feels incredibly frustrating.

Even if it was just pictures or another video of work progressing whilst we wait for more concrete RNS updates it would still go a long way to building confidence and getting noticed.

This one might sound like a negative post but FORG just did an investor presentation and have been really promoting the progress stories with multiple RNS each week and thats no where near as de-risked or production as ECR is. The volume there has exploded off the back of the promotion, that could absolutely happen here if a bit more effort was put into the promotional side of things.

This would be a really good week for the BoD to post more really positive news or updates, like the one on Friday. Whilst early days theirs the potential to start building momentum now, build that confidence and start to get ECR noticed.

It looks like ECR have been listening to the shareholders this week.

Great post this morning, that's what we need to see. The Q&A was also really helpful to assure that progress is being made.

Obviously the ultimate proof will be in delivery over the next 3 months but if they can keep up the type of updates they've done this week then it'll go a long way to building that investor confidence and the reaction will only be positive.

Wow there's been alot of activity on here today for such a mundane RNS.

Realistically we all knew this was coming, there's nothing new announced in the RNS that hasn't been covered in interviews or radio silence and given the wider economic environment it's no surprise to see the drop. To be honest after first reading it I was expecting something bigger.

Ultimately we are back to where we were pre-Raglan, which I guess makes sense given steady production/profit hasn't happened yet. The market is now incredibly risk averse and any sort of bad news is being punished.

I feel incredibly frustrated by the past 4 months but equally listening to Nick's interview today, the tone does seem to shift. The talk of Raglan now being in production and still able to cover day-to-day expense with Maddens being 2/3months away from starting has set targets that now need to be achieved. Ultimately the interview made me feel a little more comfortable that ECR's potential is still there, though I'm fully aware that these are paid interviews and all that matters now are milestones being hit and the numbers being produced.

Sadly until then I fear this share price will continue to bleed without the necessary rebuild in confidence. We've seen in the past that this share can jump on positive news runs. We need to BOD to learn from that and provide the consistent comms that is now going to be needed. That means more than a generic post on X but showing photos of the plant in action, upgrades taking place and new pictures of gold as it comes rather than the same pictures we see now.

There is hope but it's gonna take time.

I definitely wouldn't be selling my shares just yet, especially with so much potential around the corner but bloody hell it's not nice seeing the share price slowly but consistently drop back to early December levels when it feels like they shouldn't have to.

Looking between 25th November and 10th February I count 12 RNS that you'd say are positive for the SP. I remember that most of these were backing up milestones that Nick had given in interviews which really helped to boost the SP and there was so much positivity being posted on this board.

Since then we've only really had 3/4 key updates and only 1 operational update. Given all the work that is going on now I'm really surprised that very little has been announced through RNS.

I really hope the BOD do read this board and even if they do have lots of RNS lined up, they give us some clarity on when we can expect to see the updates that they've mentioned recently.