Member Info for BigBiteNow

Cocobeans you are laying on us like you are the kingpin of tax loss deals in Australia.

You are also pouring on the negativity beyond any reasonable point. The CEO just said that they are going through the formalities of this deal now. The chairman said yesterday that investors shouldn't underestimate what the potential buyer employing consultants means for this deal. Yet I should ignore all that and instead believe your statements that this deal is worth very little, and will be wiped out by consultant fees (which when paid for by the buyer are justified but not when applied to ECR). Will take all of 2025 to close and basically has a 5% chance at best.

The very same voices that attack the fund raise (and no I am not happy with it but I get it) also leave out the security that this money brings to reduce the risks of the very things you describe be it that you go completely over the top with your emotive language.

If you want to debate this properly we can. If I can learn something from you I will gladly take it but scare mongering every angel doesn't give you much credibility in my eyes but perhaps that will change.

Https://www.youtube.com/watch?v=5McliLdygGk

Also, potential buyers don't engage costly (your view not mine) consultants when a deal only has a 5% chance of completing.

They don't need to conclude the deal in January they merely need to achieve a binding agreement subject to conditions being met which may or may not include shareholder approval. That said they may allow a minor further extension if the deal looks close enough.

You are scaremongering.

PS thank you for sharing it is greatly appreciated.

Hi Old Trader,

In principle, this looks like the 6th US project listed in the US DOE RNS from 25th Sept 2023. Back then it was stated that it would be 12MWh. All sites were marked in the RNS as being Mistral products.

I would be interested to find out against what measure the 30% cost reduction has been achieved.

I didn't plan to pull together such a significant summary but someone raised the question of this being a lifestyle company and I simply had to answer in full. Especially when the evidence I was presented to prove it was so poor. People are literally throwing around age-old AIM cliches without conducting any sort of tangible research.

The evidence clearly demonstrates that this BOD has worked tirelessly to avoid dilution by selling non-core assets, taking wages in shares (which if they decrease in value will reduce their earnings) and pushing as much money into the ground as they can. They make one raise into a rising share price (yes with a bit of dishonesty attached) but do it to drive the best price they can (and deliver the cash needed to complete these game-changing milestones) and they are thrown to the dogs. All trust is supposedly gone. That they should receive a wrap on the knuckles is correct and I will be wary in the future when I perceive that cash is running low but we must place it into context against all other achievements this BOD has made to date. The reaction is completely over the top and far worse than a great many underperforming AIM CEOs have got away with. Get your emotions under control and your business hat on.

https://x.com/BigBiteNow/status/1861698726693064917

I am very confident that you are reading me and ECR very wrong right now. I won't be spending much time defending them but I am very looking forward to Q1 2025.

Morning all,

I thought it was an excellent interview with Nick Tulloch. I don't need to regurgitate it all here. What I will say is that the end of January date for the tax losses is a deadline and not merely a target. He was keen to stress that.

He also was keen to highlight that Blue Mountain could enter production in 2025 and this raise (as bitter a pill as it is to swallow) creates the opportunity to do that whilst also giving them sufficient slack to complete the tax loss deal properly. ECR can afford to walk away from the table with this buyer if they demand too much. That I can better appreciate was not the case when exclusivity and so negotiations on the structure began.

I am looking forward to H1 2025 here and feel more emboldened by the day. Tambo results next up.

EXR is currently sitting on a YE EV of just £150,000 which is staggering given how positive the interim update was. The majority of their H2 revenues are from things within their control. The December update is of course key but the forecasts for 2025 are the biggest deal which may well be second-half weighted.

Here's another.

On 2nd Oct #ECR hit a valuation low of £4.18m with (being generous) c. £300k in the bank. EV = £3.9m.

It wasn't until 9th Oct that we learnt of the 3 parties entering NDAs for the tax losses and 8th Oct when Blue Mountain's 91.7% recovery results came out.

Today at 0.31p and c. £1.25m in cash (fully diluted and land sale cash received) that EV stands at c. £5.5m.

So just £1.6m higher but not only has cash gone up 4 fold but ECR has moved through exclusivity and onto a structuring of the deal ahead of a Jan conclusion + delivered those Blue Mountain results.

Also, since 2nd Oct we have had excellent rock chip results from Lolworth and very solid initial results from Tambo with more to follow shortly. All of which will now benefit from the above cash.

A lot of progress has been made for little additional enterprise value so one wonders how low people think it can be pushed as news flow comes through and January moves closer.

https://x.com/BigBiteNow/status/1861398604172112229

Since #ECR last raised funds on 13th March 2024 there have been just 19 days when the SP has closed above 0.33p.

17 of those days are every day between 1st Nov and yesterday. Leaving just 2 prior days (both 0.34p closes) where it beat that marker and yet the BOD got a nearly £1m raise away.

Yes, many will say it was a pump and dump. That is now well documented and I won't argue with that but that does not remove the quality of the result for investors which in this market was remarkable for a zero-revenue company.

https://x.com/BigBiteNow/status/1861390575498322377

Huddle Group own 3 businesses with Trustpilot scores of 4.5, 4.7 and 4.9.

As a comparator Amazon gets 1.7, Tesco 1.8, Sainsbury's 3.6, Asda 1.4. Shall I go on?

This business is growing and its valuation does not reflect the future it has before it.

When this has run its course then investors may wake up one day and realise that it was Blue Mountain that they should have focused on more than anything else. The tax deal was always the trader's focus which is why the anger is so strong.

Yes, it could be a "considerable" return that ultimately feeds into Blue Mountain (and other assets) but the demonstration of a commercial project that ECR themselves can get into production is a far longer-lasting and value-accretive development. Forecast to land in Q1/Q2 and now fully supported to a conclusion (not actual production I stress) by existing cash.

Hence why I think the next 6 months are what really matters here.

We suddenly have a lot of Australian tax experts among us. Where were you all last week we could have done with such insight.

Good job they raised £950k then isn't it?

Again, thank you for pouring it on thick enough. I particularly liked the CAPITALS.

This share has had every negative thrown at it these last couple of days. For every 'promoter' there is an opposite and some are trying desperately to use the negativity from disappointed traders to maximise their gains or create a better future opportunity for themselves.

Why? Because they aren't stupid and know fine well that come January ECR could well be in the final stages (yes much like these last few days) of delivering a tax loss deal + Blue Mountain commercialisation plan will be in play (scheduled for Q1) and the company will have nearly £1m in cash. That combination is a trader's wet dream and they will be here for it even if they don't say so. Especially now that an RNS states process conclusion even if it does come with the necessary caveats.

For others, this is a lesson in taking the emotion out of one's investing and sticking to the business element of this investment. Yes, there may have been some wrongdoings but being a small fish in a big nasty shark-infested pond in this particular market requires some rules to be bent. Is it right? No, but is losing all progress or not being able to complete the tax loss negotiations better? Worst still going under? Is that better for holders?

Focus on the big picture here. Come January the above will be in play. Some will trade it some will hold for it all. Personally, my focus is more on the end of H1 because even more will be in play but news flow will and should dominate all decision-making. In the meantime, we should now be at ground zero because moving forward it is all about news flow starting with Tambo. But WTFDIK.

Well said Nigelbonger and I agree. I don't like how this has played out but the company's future had to be protected even if it meant some (hopefully short-term) reputational harm. Imagine the fallout if they had waited and raised at say 0.20p. The uproar would have been much greater.

If you are a LTH holder set on being here for 2025 then today's RNS is perfectly fine. The tax loss deal is very much in play but will take until January to conclude. Payment then has to follow which may take a little more time. With this known ECR could not have accelerated their plans for 2025 without yesterday's raise.

Have they played the game? Yes but to the benefit of LTHs which they themselves are.

The potential buyer engaging a consultant and Nick intending to fly out second half of January says that this deal gets done. So despite any fall we may see today or the anger that comes with it those same disappointed traders will be back early next year. But along side the tax deal will also be the Blue Mountain commercialisation plan (expected Q1). Some have tried to rubbish this and say it's worthless. I think the opposite and expect ECR with Mike Parker to prove it.

So we should see a double whammy in Q1 as the tax loss deal concludes and Blue Mountain begins to take shape. Traders won't be bypassing that opportunity whatever they may say on public forums.

This remains all about the trading update in December. The company's approach to updating the market leads to long periods of quiet which in turn leads to boredom and selling. The Sept update was very encouraging but has long been forgotten but that doesn't make it any less true.