Member Info for AG1989

Although one of the main factors of me investing was the JV, I’m happy with how they are placed moving forward.

I think it may restrain from a couple of investors wanting to trade ECR on a JV basis. It seems some time off doesn’t it and allows the company to grow both projects themselves before further progression.

Yeah. They stuck 17 holes in in 2019, roughly 10 or so now. If they can return in Q4 with another 10-20 holes it could really set Creswick up very well moving forward. I’ve got a feeling they’ll hit the other tenements next once granted and try to identify a good strike length throughout the DMS

Appreciated.

Just had a listen now.

7th hole at Creswick
11th at Bailleston

JV sounds like it may be some time off. Current cash burn of 300,000 AUD a month. Did I hear that right? So well under £200k so plenty of cash to carry on proving up projects and JV not necessarily needed right now

Which although disappointing on the JV front, we know we don’t have the cash to prove Creswick up fully IMO. Let’s carry on getting the Gold out of the ground and when those days come, hopefully they’ll sign a favourable package.

Business as usual

https://www.share-talk.com/craig-brown-chief-executive-officer-of-ecr-minerals-plc-ecr-l-interview-2/#gs.5fd6k3

I can’t get it to work, if anyone can update me I’d appreciate it

Yeah I mean everyone we look for in a junior explorer, Cora have the incentive to fast track it all through this summer. Resource upgrade and feasibility study will be upon us in no time mate.

I think it’s a consortium associated with the family. Lionheart or something ? And long term I think they’ll be expecting healthy returns. Healthy returns for them = healthy returns for the likes of me and you

Exactly. If this was in Australia, with the chances of near term production, which is all financed for, this would be closer to £100m MCAP

35,000m in 5 months. That’s insane. I think ecr have managed 3,000-4,000 in 6 months. It’s not knocking ecr, it’s more highlighting the pace Cora are moving at. All companies will have their big rises, but when the market sniff off the production potential and the feasibility study is submitted, then it really gets interesting.

The low volume doesn’t bother me right now. I think the near term potential of this company far outweighs any other junior investment I’m in. (IMO)

I’m fully aware of that lucky

The drilling there was by no means bonanza, but it was a lot shallow and the limited campaign they did, returned 2m@17g/t which is fantastic return. We can say forever and a day about blue moon about permitting issues, and just accept it. But like I said yesterday, I’d appreciate an update on it.

I’m just overthinking the situation and I’m overly cautious about how these funds are being prioritised. I’m not for a second saying they’re not, but if CB and the company can’t return value with this £5m, can you imagine how the next placement will be met with retail investors ?

It’s a wait and see situation. All I want to see is progress, and we’re seeing that with the aggressive drilling campaigns. They set out to find the anticline, and they have. Now let’s see how they exploit it, permitting should hopefully be issued soon.

Adam Jones said he’s looking forward to getting the Creswick assays back and reporting them to the market. these next 4 holes IMO have the capability of turning this all on its head and sending us to the next level. I’m confident in a JV at Creswick long term, but if the results from this campaign are not good and a JV looked indefinitely postponed, I don’t think Bailleston alone is enough to keep me invested (I don’t for a second think this Creswick campaign will be bad, just summing up how I feel).
Bailleston is like a side project for me, which in itself can create enormous value, just a long way to go.

I think it’s okay to have reservations, but it’s gets to a point you just go around in circles and I switch off from this board sometimes. I’m perfectly happy with the company moving forward.

Don’t underestimate the effect a board like this has. When new investors come in and research a new company, if they’re like me, this is the pattern I follow
Visit the company website
Use their Twitter and hashtag ticker
YouTube videos
LSE RNS page
LSE message board

Like I said, reservations are fine, but the same stuff keeps getting brought up. If your reservations outweigh the positives, then a sensible decision would be to sell up. But one minute this board is bullish and looking forward to the future, the very next day it’s in the gutter again.

The sentiment factor, has been dented by CB but like TS said, this was months ago. Since, the company have plowed on with Bailleston non stop and brought contractors into Creswick. I’m still to be sold on Bailleston if I’m honest. The anticline has been identified but there’s still no guarantee of good hits down there. The company are positive about it so il back that confidence up and hope for the best. My investment mainly lies with Creswick if I’m honest. That to me is the value spinner here and our nearest and best chance to free cash flow. With limited historic drilling pulling in 80g/t, 176g/t pulled from the DMs south of Creswick and the first hole returning 9g/t, I eagerly await the next couple of holes and hopefully we kick on from there.

What’s interesting legalwolf, take a look at this page

https://www.coragold.com/shareholder-information/

Total deemed not in public hands (being Directors and 10%+ shareholders plus their associates)49.88%

That’s some tightly held float. Don’t the Quirk family own around 30%? This is a company IMO who’s annual cash flow in 2-3 years time will match its current market cap. Now that’s ridiculous

What I like about the project, it’s absolutely littered with Gold

If a Sanankoro replica deposit was being drilled in Victoria by ECR or RRR, this would have many multiples or £18m. It’s because it’s Mali but that doesn’t bother me one bit. A country with a rich tradition of gold mining and Cora seem extremely well supported there.

Well if they make a sneaky director purchase before the next RNS we’ll soon know ;)

I try to be careful with the companies I invest in. I like regular updates, not necessarily market sensitive information, but operational updates. ECR went from being the poorest communicators to the best. With Orosurs new Twitter I was hoping for something similar

I believe running a publicly listed company, the BOD have some what of a duty to the shareholders and need to form a bridge to move forward.
Luckily, I believe they’re currently free carried on one of the best projects at present in the junior exploration space and this is the reason I’m holding and will continue to add if it drops.

Had my little rant on Twitter. I love the potential of Anza and the high grades and Il remain invested.

The mining sector seems to have suffered heavily these last 6 months. But IMO radio silence has helped walk this down to the levels it is today.

Does Brad want a 10p top up ? :D joking I’m not into conspiracies but the communication is shocking. With 5 drill rigs running, Newmont on board and high grade core, there’s a story developing which just isn’t being told.

It is frustrating and I always say never let my heart rule my investments. If it continues to drop, I would follow it down because the Colombia RNS reports have all been positive and progressive. You just question what on Earth is going on.

lucky/LW - I feel with the current price movement and news flow elsewhere and with the pace they're drilling at Creswick (Contractors), i'd have preferred 1 detailed RNS of all 10 holes. I feel like the market would react a little better and possibly bring sentiment back. Especially if you read the assays table and Hole 1 reads "1m@9g/t". That being said, I'm not sure what timescale the company can hold assays without announcing them. And it all depends on results too, they could release 10 holes at once and come up with 7 dusters(unlikely imo).

I'm just far more optimistic about Creswick and always have been. As much as the Bailleston & Creswick results can compliment each other, they could also work against each other. We could release 2m@18g/t from Creswick Hole 2, then release poor results shortly after from Cherry tree.

I'm sure they know what they're doing but sooner or later you need the share price to start delivering and going up. Not so I can make a quick 20% trade, but so warrant prices can be hit to generate cash flow for the company and it puts the company in a better position for any future fundraising. I'm hoping between the Creswick results, JV agreements (i live in hope) and Creswick licenses, this will get the SP moving.

The company have applied phase 2 drilling at HR3 but by the time this has been accepted, drilling has been completed, core logged and awaited assays, you'll likely find it'll be September/October time. We started the year at 4p, if we really are making the progress (i think we are), you'd want the SP to be closer to that4p and beyond, and not sub 2p.

No matter what we think "fair value" is, the results will do the talking and the market remains to be impressed. Creswick and phase 2 drilling at HR3 will be our best bet.

I'm not particularly sure from this point on we're in a position to hit an "RNS a week". And that's not an issue, i just found the statement slightly odd and puts an unnecessary pressure on. The assays are ready when they're ready, it's that simple

Hole 2 from Creswick will be ready soon, i think the subsequent holes had already been logged and maybe sent off but could be some time yet for assays. The bulk of it were the 8 holes from HR3 and now it's a waiting game for the rest. If we can match or exceed the 1m@9g/t from Hole 1 at Creswick, that would be impressive

without going into it too much, i kind of had to same line of thinking Gino has. There's no guarantee that we get the results we all want from the anticline, and with Blue moon showing as much promise as it did, I'd have liked to have seen this targetted.(Although yet again, no gaurantees) OR Craig give us any kind of update he can on how they can move forward there.

My focus right now if im perfectly honest is all Creswick, this has been and remains the value play for me with a JV being signed in Q4

It's just the volume LegalWolf

It's mental because you look at the love companies like WSBN, ORR, ECR get (All companies I'm invested in) but in terms of product in the ground and the company has in its favour, it trumps the lot for me

-Funded
- 265,000 oz inferred resource with every indication showing this will be upgraded to indicated
- 1-2 Moz exploration target based on a pit shell of 100m. Limited drilling beyond 100m has returned grades just as strong as the shallow Oxides
- 3 rigs back at Selin testing for depth
- Small float
-35,000m!! of drilling
- Term sheet signed for construction in 2022 (I've not seen this in the junior exploration space)

The drilling will be completed within the next 4 weeks and the assays will continue to pour in

I think this will wake up late Q3/Q4. When the resource is substantially (imo)upgraded and the market then realise we could see production within 12-18 months, I can see a big rise in Cora. I'm holding very tightly

I wouldn't follow the buys too closely with the directors. Their shareholdings aside, they were happy to top up after the last 2 sets of results at a much higher price. If they have the necessary funds, they will, if they don't have the spare capital, then they wont

I'l be throwing everything at this if we reach those kind of levels but I'm expecting good results from the outsnading 7 holes and whatever core they've drilled in the past 6 weeks

GLA

The beauty of Bailleston, you wont need to build up 4-5-6 different resources before you begin to mine. The different targeted prospects are littered throughout the entire tenement. You don't even have to target your most lucrative target when the company begin to mine. It's all about cash flow and once we successfully climb onto the production ladder, the cash flow sets the company up to progress exploration moving forward. This then limits and eliminates the need for any dilution and shares released to the market. It's not a process you can rush through but its one you can definitely prioritise.

My preference would be:

- Return to Blue moon/Black cat for an aggressive campaign "if" we receive the necessary permitting to do so. The first Satellite pit in the portfolio with Core trucked to Fosterville or nearby Toll treatment plants. Bear in mind this is a rigorous process and by the time they've stuck 15-20 holes in blue moon, applied for mining permitting and began the process, your talking 12-18 months, possibly longer. I'd advance other Bailleston prospects as and when you can but solely focus on one target with production and cash flow being at the forefront

- Get the JV signed at Creswick. Hopefully these 10 holes prove favourable and we can dersik the project significantly by sharing it with a company who's spending to spend X millions building up a resource and feasibility study

- Use the remaining £2m-£3m to begin exploration at Tambo and in Queensland.

- Use any cash flow generated from initial satellite pit to return and advance HR3, Black Cat, Cherry tree

This is just my personal preference and there's no right or wrong in this scenario. There's definitely a plan with HR3 in the immediate future, and Adam and CB are clearly excited by it, let's just keep the confidence phase 2 will really deliver.
Although there are no "bonanza" grades it's healthy to see the response from LTH's here on the understanding of the results and what they mean moving forward.

So drilling has been delayed? I only scanned the RNS yesterday but reading the " Red Setter which we will be drilling later this year" suggests we may not be drilling imminently or should i say, it's doubtful the drilling RNS will land at any given day.

It kind of shows to me the level of trading involved and some were only looking for a quick 10-20% after drilling had commenced. Fundamentally, nothing has changed and WSBN still have a 30,000m campaign ahead of them. I have the wishbone shares in my SIPP so I have all the time in the world, it's getting close to my average and if it goes 10-20% below that, I'l top up but until then, business as normal

Yeah LW it's neither here or there with me, I'm not saying write HR3 off, i just feel in our current position, i feel we have enough information logged and stored to always return to HR3. Just like they did respectively with Blue moon and Black Cat, with blue moon showing the most promise hitting mineralisation within 100m, up to 150m.

BH3DD006 hit the anticline at 224m. They'll be well placed with the phase 2 drilling and should hopefully hit the anticline and identity further high grade results. But when your drilling 200-300m holes like i stated before, it limits the amount of holes you can actually put in and puts slightly more pressure on for me. MIDAs is a diamond drill Rig and as a result it's consumables are far more expensive, I'd personally try and build up a resource at Blue moon, but as i understand it, are they struggling with permitting?

Financially speaking, ECR are well placed with £5.2m in the bank. But after this current cherry tree camaign, the phase 2 drilling at HR3, and any overhead costs and further exploration at Creswick, we may be down to £3.5-£4m, which i think shows how the recent placing actually has set the company up well

I'm not a geologist and far from it, I'm doing my best to learn as i go and appreciate the comments and posts luckyorange has supplied us with. The results are not tremendous but they give the company a better understanding of the structure moving forward and I'l support that decision. I just like the idea of focusing and building up a resource where mineralisation is held at more shallow depths, and then move back to HR3 later on, possibly on a free carry with a JV partner in the future

Some lovely scenes on the M6 though Happy :D

Also well summarised by Legalwolf. To identify the anticline and plan in a "phase 2" drilling campaign, shows the confidence they have in continuing at HR3.

They're drilling non stop so i think we'll get the lucky break we need eventually. But at the minute, luck is quite a harsh word because the company are clearly busy on the ground, drilling, exploring, there's just more work to carry out

Creswick Hole 2 could land at any minute, followed by the remaining 3 Creswick holes and Cherry tree.