Member Info for AG1989

To be fair, the last we heard they had started drilling Hole 2, it looks like Hole 6 will be complete very soon so the company have been busy in the background.

Getting news out to the market and investors is another thing though. It went from us going to recieve "regular assays" to potentially recieving all 6 holes in one go now. Keep the faith

There is spectacular potential in the Patterson region, Rincon and Antipa are high on my watch list

All about fundamentals. Funding, drilling equipment, location, BOD. ECR still have a very strong case. £5.8m, all the ammunition in the world to tackle these fields head on in 2021 and come out much stronger on the other side. Give us the juicy grades Byron has dying to spit out for years and lets move on

Hopefully Sunday night or next week we hear from Craig for a little bit of transparency. If there’s nothing to report, that’s fine but reminding investors to check out its latest presentation. In this presentation it states how they’re funded up until and potentially beyond 2023 with £4m. Yesterday this was posted by them, less than 24 hours later, a 10% dillution and placing for 90,000,000 shares. Not a fan, financials are something investors research and knowing they’re fully funded, could be a factor to have bought into ECR.

Just give us a plan Craig moving forward, even if it looks likely we will be drilling Creswick ourselves. The “I can’t say too much” approach gives us absolutely nothing and watching an interview with him over a year ago, this was his approach then. I can see licensing issues taking a while to be resolved and approved yet.

6 holes drilled at HR3, serious potential to be extract value from Bailleston this year. It’s not a “must”, but with close to 6million in the bank and the cost of a drill 170k, it’s a no brainier for me, along with the custom labs being built.

My preference is to hit blue moon again next, get some sentiment back and trust in the investors.as far as the assays go, who knows. It’s clear the company do not have to release this information straight away, I’m hoping they’re building up an RNS of substance. A placing, followed by negative assay results would be a bit of a disaster.

if your still invested here, take a breather, evaluate the company and ask yourself can you still see Bailleston and Creswick going to production in 18-24 months. My answer is yes and it’s why I’m invested,!just need a little clarification of the programme moving forward.

I’m still here Jsmith.

Legalwolf - yeah these assays have a big bearing on them I think. But we adjust as and when they come. If they are poor, would you target another unexplored reef or would you want them to return to Black cat and Blue moon to cement a bigger resource estimate. Rodney knows ;)

When you already have 8million shares, TL topping up another 600K is a great sign for the company and investors. He knows the day to day running of the company and knows first hand how operations are going. If they were pulling up a duster at Bibemi, i couldn't see him adding to his allocation today knowing this could potentially fall to 0.6p on bad news

Very optimistic and looking forward to a jam packed, gold filled Q2 :)

TS has mentioned it too, with £3.8m in the bank and MIDAs already drilling up the ground in Victoria, why would you go out and raise a further £2million? There's clearly a plan and it states in the RNS a plan to ramp up exploration, I'd love to get that second drill purchased. They could probably drill 4000-5000m at Bailleston in 2021 and stick a couple of holes in Creswick. Looking forward in hearing from CB

It's good to see how strong the buying has been since 2.21p this morning which in itself shows the confidence in the company

No, the 3 licenses are still pending or awaiting approval surrounding Creswick. The JV may involve ECr drilling and spending a certain amount, to extract maximum value from the agreement

It's a lose/lose in that situation Shadow

I've seen it countless times elsewhere, even in the same RNS. Releasing positive news then followed up by a placing. A very counter productive method. Hopefully we're getting all of this out the way before a real charge and surge in positive news, with nothing holding back the sp

dj, interesting to read, subtract that £2million, it means the company had £3.8million left in the bank. So all overhead costs, drilling costs, contractors etc expenditure these past 6 holes (4-6 weeks) was roughly around £100,000-£150,000 based on previous balance sheet reportings.

If that's the case, it shows what the company now have to work with to expand and ramp up drilling. A sizeable amount to really target both Bailleston & potentially Creswick

Just think, if these 6 holes are positive and shows the potential for a resource at HR3, the future looks very bright. I still believe there is a lot of pressure in these incoming assays, money needs to be seen extracting value from the ground.

Overall it still raises a couple of questions but for a company in our position, £5.8million is a sizeable amount to have in the bank. Agreed dj, would like to hear from CB soon

It's one of those situations where you take a step back, take a breather and go again. But it does still raise a couple of questions for me.

For over 12 months now with Creswick Craig has been extremely tight lipped and for obvious reasons hasn't been able to discuss Creswick too much. but by the sounds of it, there are plans or intentions for the company to drill it/part drill it themselves. Would love them to give a bit of direction here to the investors as and when possible. It looks like ECr are still awaiting licensing news which would hold up the JV, the JV has been and still remains a huge catalyst for me moving forward however we want to approach the situation

Assays received 5 weeks ago and hopefully to be released soon. We now know 5 holes have been completed, soon to be 6 and we await assays at the end of the month (Wont hold my breath). The PR drive surrounding Hole 1, visible gold/interviews/Core photos on the twitter page, nothing since. Not by any means an indication to bad results, but the communications with investors just seem to halt immediately. Possible signs they're waiting to release a "big picture" RNS of Hr3 once they have all assays to hand, giving themselves and the investors a better understanding of a resource, adding to potential resources at Black Cat and Blue moon

It's strange because todays RNS told us that ECR now have an additional £2million in the bank and are onto Hole 6 with assays from all 6 still to be revealed. If that's the worst RNS I've read since investing here last year, it can't be all bad.

Actions moving forward.
"If" results are HR3 aren't favorable (every chance they still could be), I'd love to see them back at Blue moon, striking hot and understanding the size of the deposit there,
- Second drill Rig purchase (needed), send one to Creswick
- Custom lab built. Help break down the Core and send off encouraging samples to the labs

The show goes on and they've clearly been working hard throughout this radio silence, I just hope we start delivering positive, value extracting news in the upcoming months :)

In recent interviews, numerous times when prompted, Craig has stated they’re not a company of acquiring projects for the sake of it and not drilling them. No need for expansion.

He has continued each time to state how Creswick and Bailleston provide enough value for shareholders and these are the Crown Jewels. Further projects right now are not my cup of tea, Tambo maybe. But it gets to a stage you need to prove up what you have, £6m is a good amount of money but it won’t last forever. Proving up further projects for me outside of the current 2 increase the risk of further dilution in the near to mid term.

Puts a lot of strain on assays for these 6 holes IMO. I invested here because he looked like a man of action, and boots on the ground. Crossing everything that the assays from Byron are favourable but he really needs to start delivering in 2021

It’s the first time I’ve actually questioned the assays now too. Thankfully I got my average down to 2.5p, but I know a lot of investors got an entry point between 3.5p-4p when all those interviews came out and Craig was ecstatic talking to the Market

The JV will still be awaiting licensing issues, but £2m more and from his words in the RNS, I can see the company going it alone on Creswick (for the immediate future) which il be honest was a huge pulling point for me.
It’s shared risk, a free ride and ramped up exploration. If we don’t strike in those first 6 holes at Bailleston and Creswick is off the table, it feels like back to square 1 from when I started my investment here.

Poor form

Djwall - true but it makes me reconsider a lot about being here. £6million proving up to enormous projects only goes so far before further dilution.

The visible Gold in Hole 1 suggests to me that holes 2-5 never yielded any visible mineralisation. They were chomping at the but to release images from that first hole. Not to say they wot strike.

Time to average down but extremely underwhelming all around, and that’s from someone who has always remained upbeat about the company.

What also doesn’t sit right with me, is the need to raise that amount of funds suggests to me they’re going to drill a fair bit at Creswick (JV nowhere closer are off the cards). A good JV would have been funded by the partner, with £4million In the bank, this is a little kick in the teeth.

Jesus 6 holes of assays to report. I bet he’s crossing every one of his fingers and toes hoping some of them return good values. Not a good RNS and before the “I told you so” brigade come out in force, this is brand nee information I wasn’t expecting.

Also Apro whilst the board has your focus :) how difficult is it to acquire Rincon shares with such a small float and is there any particular time which is favourable to execute my orders?

Yeah I’ve been reading about Laverton. Surprised they didn’t come out off the bat and have a dig at hasties. This looks extremely prospective, always good to acquire land with previous high grade results. It looks vastly unexplored.

Is your hasties comment an educated guess or have the company alluded to moving here next ?

AG

Back in here after a while out. Been keeping a close eye on Rincon.

Good to see your still here aprogerson. Extremely insightful and helpful last year. Always a pleasure to read your posts

Just looking at its south telfer tenements. Would like to see some movement move this year. It’s hasties project returned some very attractive grades on historic drilling.

Hasties Gold Intercepts:

57.80m @ 2.05g/t Au from 17.40m incl;

16.10m @ 4.75g/t Au from 42.70m;

68.00m @ 1.33g/t Au from 1.00m;

36.00m @ 1.66g/t Au from 2.00m;

33.20m @ 1.46g/t Au from 25.00m;

23.00m @ 2.06g/t Au from 23.00m; and

5.00m @ 3.73g/t Au from 50.00m.

Hasties Copper Intercepts:

20.60m @ 1.23% Cu from 87.60m;

10.90m @ 3.39% Cu from 91.80m; and

4.00m @ 4.84% Cu from 49.00m.

https://www.rinconresources.com.au/projects/sthtelfer/

Extremely excited to see what they find here.

Apart from interactive investor, are there any other U.K. platforms that could give me access to Rincon?

Down to 2.53p, cue the weekly meltdown :D