RE: RNS out11 Aug 2021 00:37
Not great, but I really didn’t know what to expect. Honest opinion, if we continue the current cash burn, it’s okay whilst your creating value, but HR3 & Cherry tree for me, just aren’t. Exploration is a costly game, and that £4-5m sometime soon will need prioritising.
ECR have good land, they have very good land in areas. One being blue moon which is currently red flagged for access purposes, and the other CRESWICK, which they’re working tirelessly to deliver the high grade near the DMS
0.5m@1.08g/t
1m@1.14g/t
1m@0.11g/t
1m@0.22g/t
1m@0.2g/t
1m@0.24g/t
0.6m@1.11g/t
0.3m@1.01g/t
0.5m@11g/t
They’re not good results for me, but I’m not a geologist by any means, it just doesn’t show value. Interesting they’ve interpreted structural data and used this with BCTDD004 & DCTDD005 to “define such cross striking faults”. The “pathfinder element”drilling eventually needs to add some substance to the table, some value. It’s not always about
-how the market see it
- what the share price will be on the 8AM bell
It’s about what the results represent for ECR and Bailleston. The proof in the pudding, the next cherry tree RNS will telll a lot more. Once they release the assays and data from the next two holes, let’s see how ECR prioritise further drilling at cherry tree.
The results from HR3 have been less satisfactory for me too, but the company believe they’ve successfully identified the Anticline, and are clearly keen to start phase 2 drilling, they’re confident about something, let’s see if the same excitement rubs off on Cherry tree
One advantage like luckyorange stated, the mineralisation seems closer to surface. The Byron & Mauri reef, they’re targeting it, or should I say intersecting Gold at 200m/300m and so on. Although we own our own drill Rig, the costs will still add up. Drilling equipment, drillrods, fuel, all builds up and identifying these structures and hitting Gold closer to surface, you get more Bang for your Buck
Not the end of the world and only drilling a couple of hundred metres, there’s clear evidence that there’s some form of Gold system in place, will the results from the next couple of holes supply us with a lot more, who knows.
A fault of mine is looking too far ahead. The company are giving it everything. By that they’ve gone and
-Raised more funds for exploration
- MIDAS spinning non stop
- CRESWICK drilling
- core sheds full
- second drill purchase
But when it comes to further dilution in 2 years or so, (which is fine) and the company have 1.2,1.3B shares in circulation, I think investors will be looking back to see how the company used the previous funds to generate value, I still see that at CRESWICK, that’s the priority.
Never expected a rise from today but couldn’t see it dropping much. I’m more than happy to hold and believe CRESWICK will deliver. To generate value, we need to deliver good results, that’s the top and bottom of it
I’d like ECR to zone in on ONE Bailleston re
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