Member Info for AG1989

It may limit the upside but how much progression do you think a company like ECR can make on Creswick without a JV? To prove the resource up is one thing, to take it to production is another. Dilution would be innetivible. But I'm not talking about £2million, think more £15-£20million depending on depths/pit optimisation

The upside in a retaining a 25/30/40% Hold on Creswick in a JV would vastly outweigh spending the next 24 months sticking a couple of holes in. the JV partner would be carrying partial risk and will have to meet it's spending requirements each year for a period usually 3-5years. They'll also provide the resources, analyses equipment and expertise to hit the ground running and accelerate exploration at Creswick. Going it alone is certainly not the end of the world but it delays proceedings by some distance. With a huge focus on Bailleston, Creswick could be put on the back burner and just flipped on in years to come. Big opportunity in this JV to propel the company forward and is still a must for me

TBF Dill, not sure I'd be out but a large factor in my investment here hinges on the JV going through. It's a huge factor and an indefinite suspension or delay in the JV, sets the company back 18-24months and will take up a considerable amount of the £5.8m.

Great post mentalmax. Frustration all around but no need to jump to the worst possible conclusion and for those convinced Craig is a pump and dump merchant, you'd have already sold by now, that simple

Always good to discuss it and dig deep through the issues, but letting your emotions rule and dictate your investment here is definitely not the answer

Just changing the subject slightly, this is for anybody who has been here longer than i have (Last year)

https://www.lse.co.uk/rns/ECR/significant-update-8211-creswick-gold-project-australia-qomdcvb2126ruml.html

Above is the Creswick RNS released in May 2019. Heard a lot of positive news around Creswick, it's surrounding areas have clearly been very prospective to other miners.

But from what i can see, it was a 1,600m campaign. 1m@44.63g/t which has since been upgraded is an extremely good return. But the next best return was 1m@2.49 g/t which isn't the most prolific assay. Have there been any thorough campaigns in Creswick?

A big positive, all of these grades were hit within 100m of surface, be interesting to see along strike how much there is within 100m, and then dig at depth

Forza, agreed, there'll be a number of different prospectives, good to hear them all

Yeah I've relayed on twitter a number of times in the past day. The presentation clearly says funded until 2023, then we throw this placing up. It's bonkers and as much as the optimist i am here, it needs addressing. Drill rig needs purchasing, lab needs building. I'd like to know what expense has been put into the "modest expansion" of the Bendigo HQ. Can't see it being much but if we're at the start of this in house drilling capability service, would funds have been utilised better here?

Question s questions questions and hopefully we get the real answers tomorrow, not just want he thinks he wants us to hear.

winnieh, I'm not on the BOD, I'm not his mate or have 0 control on what happens with the finances of the company. I can only go on the latest RNS that states we now have £5.8m in the bank and I'l be following tomorrows interview extremely closely

There seems to be a lot of investors here who are just waiting to throw the "I told you so card" about when things don't go our way. If you've lost faith in Craig, don't trust him and believe he's just in this for him and his buddies, then Sell up, that's a no brainer

It wasn't a particularly positive RNS and hasn't been welcomed, but i still have faith and confidence my investment will double/triple/quadruple and so on from here. I can't say the same about some here

forza, don't disagree with any of that at all and i understand where your coming from. Flogging 90 million shares at 2.2p was clearly achievable, I can't say for certain in the near future, anybody would have took up the opportunity higher than 2.2p.

For the benefit of the company, it does seem strange exercising a placing during a period of weakness. But I've seen it time and time again, we could have released good assays, let the sp shoot up to 4p, then throw a placing in and undo any rise in the sp. Lose/lose really.

All i know now, they're in a strong financial position. Any more placings will not be met with any kind of welcome if he doesn't use these proceeds correctly. It's not about words anymore, lets see what actions Craig are the company are implementing from this moment on to further our interests

cekim - Yeah exactly that's my point. so TL clearly isn't expecting bad results because he's laid £5k down

Or he's just been up his allocation for the future. I'm expecting assays this week. Crossing my fingers

I feel a lot of investors have lost faith in Craig (I don't include myself here). And as a result, I think a fair few will use tomorrows interview as a factor of whether they should continue investing or pull the plug Monday, I strongly believe that. 6 holes in, assays shall we with us soon but yeah, the company really needs to start delivering on the gold front, any tin pot company can talk the talk

It leaves us with an extremely healthy cashflow moving forward but as you state, as far as the investors were aware, we were fully funded as it was.

Assays recieved 5-6 weeks ago "to be released very soon" - Looking now like latter part of April
Fully funded until probably 2023, presentation states we have £4m in the bank. This presentation was shared by them 2 days ago. -Less than 24 hours later, a 10% dilution and £2million placing

Little doubts creeping in here and there with Craig. He's not our mate/our buddy down the pub, he's the guy in charge of driving ECr forward and we've put our trust and finances in his hands.

Sundays interview is a perfect opportunity for him to get his point across and explain exactly what the £2m was for. exploration was funded for a year or two so i will not be accepting the funds were for "general exploration" and to ramp up activities. We need actions. That said, I'm more looking ahead than dwelling on the past, it's the only way to get out of this Rut and create value for us all. Hoping he can turn the sentiment around and take ECR to the next level

That’s what I’m looking for on Sunday too.

Drill rig purchased, started to build the on site lab etc etc.

If it’s just an interview “we’re drilling 24/7 and the £2m just gives us an extra cushion to push on with exploration”, that would be underwhelming.

Not £ for £, but give investors the real reason the placing came today when we were already fully funded. What’s the play here and is there something bigger coming ?

Yeah he needs to address certain questions but the interview needs to flow. I’m interested in what The near to mid term Bailleston plans are, where is the next target, new drill rig etc. But I kind of want him to give us a informative answer without being promoted to.

Had a reply on Twitter.

They’re looking to host Craig Brown this Sunday and hopefully answer the questions investors have.

If you have anything specific on top of the £2m raise, pop it in to them when you can.

Craig Browns next interview. I’d like to hear an explanation (not a dig at the company), but an explanation as to how the funds are going to be used moving forward.

If we hear that the £2m is going to be blended with the existing funds to support the ongoing exploration at Bailleston for the next 2 years, then I won’t be particularly pleased. Telling us we were fully funded with £4m until 2023 would clearly be proven to be a lie.

But I’m hoping and expecting different. I’m hoping for ACTION, not words on a couple of fronts. Partial funds are going to be used to design and manufacture an on-site lab. A lab where the Cores can be broken down, analysed to the tenth degree and sent off to the labs. A big step forward.
A second drill, also to be used 24/7 alongside MIDAS. Whether this will make its way to Creswick for a campaign or two, who knows. I’m dying to hear a little more movement at Creswick. It just seems like an ongoing situation that hopefully gets resolved soon. Are the funds going to be used to explore Creswick alongside the JV partner to give us a strong position when negotiating a deal.

Modest expansion of Bendigo HQ? Would like to see what this is about.

CB has always had ambitions here to build an in house drilling capability service which doesn’t need to be contrasted out. A service they can rely on for these two projects, and any projects moving forward. This could really set us apart from other junior miners. It’s interesting what assays of 40g/t & 80g/t can do in this market. It’s certainly possible we hit those grades but he really has to go from it here. If that £5.8m runs out in a couple of years and we haven’t hit all that much, any further placings would really not be welcomed by investors and would drive this into the ground.

Give us something Craig. Build us a drilling team, 2/3/4 rigs which are capable of drilling 365 days of the year and get these resources met.

But if you were expecting bad results you’d still buy £5k worth. It doesn’t matter who you are or how much money you have, 5k is 5k.

He’s expecting, from previous interviews, the next lot of holes to be a little more encouraging. He’ll have already seen a detailed breakdown of the core before being sent off to the labs. Time will tell but it’s certainly not negative news when your ceo buys more shares whilst 1,400m of assays are anticipated.

I’ve posted on Twitter, ****ney trader. I’m fully with TS on this. Half hope/half logic.

An updated presentation recycled to investors lately states the company are fully funded (£4m) on all planned work activities until 2023. If this is the case, then what is the need for raising another £2m! It doesn’t half get you thinking. Something must be in the works.

Activities at the current pace at Bailleston could have continued for a while with a budget of £4m. The need for another £2m suggests something bigger is at play here. Hopefully not another project. People have different perspectives on this, but we really need to start proving up the two we have, get some substance there, then expand.

It’s been 10 days since we received the assays for Hole 1. Within the same RNS it was made clear that Oriole have completed a further 13 holes (probably more by now), and are awaiting assays which are due soon. And during this wait, the ceo has decided to add another 600,000 shares taking his allocation over 9million,hmmmm. Now if he was expecting bad results, why would he then go and spend £5k of his own money in topping up, instead of waiting ?

One spark will ignite this whole share and I feel it’s coming very soon.

JTB. Totally agree. I’m in my early 30s and just over a year into my investing days. Still a lot to learn. Just trying to pick and put my trust in 1 share that will set me up nicely moving forward in investing.

I believe this has the capability still to transform and move only significant valuations multiples of this. I believe EEE, ORR and two other Aussie mining ones to do the same but it’s certainly not an overnight process. Far from it.

Very jealous of anyone holding in the millions. I have 650,000 combined between ISA and SIPP but it's all relative to individual circumstance. Whatever finances allow, be content with your holding, with a top up today I'm now only -4% on my investment. Feels like we're overdue good news and like mentioned by someone before, this share has the capability of smashing through 4p in a couple of sessions with very positive news. Ride the wave, reset and bring on next week