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This is a good start in terms of explaining the fund raise and what it ultimately means for the business.

"If in a few months, we can say we are beginning to commercialise that project (Blue Mountain) we're approaching revenue, that's the game changer."

Talking about taking Blue Mountain into production themselves. Today's funding at least enables the delivery of the answer to the question of Blue Mountain being commercial or not. Tax losses sound very much alive but the messaging is now progress made but an extension of the exclusivity period is likely required. One wonders if the recent phone call with the potential buyer was to inform them that ECR has just re-capitalised and so the offer will need to be a better one or we go back to the other interested parties. Pushing back they call it.

Deliver Blue Mountain milestones + tax losses and today's raise will be forgotten but work as always still needs to be done along with a review of their PR.

https://x.com/ecrminerals/status/1860994954413437073

@Milab I don't believe I am defending on assumptions. I am clear that I will judge this once the explanation comes through and that might mean I sell out. My comments are attempting to bring some fairness and open-mindedness to what is a very negative environment. I can't claim to be 100% neutral because I own shares. Time is what is needed here along with more detail. I will leave it there now and await the next update(s).

Scratch that last comment because after expenses is mentioned.

Zero broker involvement would mean no fees also.

Good point levistubbs but ECR have had good form at getting better than average raises away since the new BOD took over. Yes, they are discounted but for an exploration company with no revenues in this market, they are good. However I remain intrigued as to who this subscription was made with.

That is armchair business leadership and not the reality and is full of assumptions and little fact. The facts may come and back up such comments but until they do its just agenda-driven speculation.

@Milab I think the part about explaining the decisions publicly as soon as I can part is what is key and not the assumptions that are flying around. If the explanation is poor then the boot can be put in harder.

Did anyone notice that there is no broker mentioned in the ECR subscription RNS today? Nor mention of existing or new shareholders. So who took them?

Item 2 in today's RNS.

"Completing the commercialisation assessment of production at Blue Mountain during the first quarter of 2025."

It was said previously that the majority of the work is now desktop but that was before Mike Parker came on board. But I do expect they can achieve a number of progress milestones without needing boots on the ground. For instance, there shouldn't be any more drilling involved but how they assess the resource I don't know. Alluvial gold deposits are relatively new to me.

this is a tweet from mike ******* made half an hour ago for those that don't have access to the platform.

"we were not arranging this whilst conducting interviews, i'm not that kind of person.

i will explain the decisions publicly as soon as i can

you have my word."

https://x.com/dds_docholiday/status/1860968653564367104

Yes, I am in that camp Dan and posted as much here a good few weeks back but was swayed by the comments from the BOD. But it has always made sense that whilst an initial payment would be realistic there would be staged payments perhaps attached to the usage of the tax credits.

good post bottomzup and in line with my thinking around letting the anger etc dissipate so we can all think straight. mike ******* indicated something along those lines in his tweet this morning. i am feeling more and more that this all needs time to play out before the axe falls. this team isn't dumb despite how this looks right now.

If you are talking to me Dodger777 then no I am not a paid ramper. I am an investor who has a large following which means I often get called out for my support of shares. I hold a significant holding here and simply wish to discuss the stock as things develop. I have interacted with a few of the Twitter posters you have mentioned but that doesn't make me a part of whatever you think they are.

It is important not to forget that very few people are thinking straight at such times. That doesn't guarantee that everything will come good more that the anger and desire to hurt are at their highest and one must try to raise one head's above all of that and think clearly. That may mean it's a sell for some but right now I am not there.

If the placement had been handled better then the list of projects that will benefit from these funds is very exciting but right now it's being washed away with all the anger.

This BOD has proven that they can deliver real progress on the ground and these monies are the most yet. So I am not too worried about where we will be as 2025 unfolds. But there is a major sentiment and trust repair needed and progress on this list can deliver that despite what so many wish to tell us.

I would offer a thought here and that is payment structure plus I also take on board Mike's comment this morning about balancing the power at the negotiation table which does mean that ECR has to be well funded. These are tough things to digest right now because the wave of anger is so high. I am also not saying that I am 100% on board with the comments but I am willing to listen because there is sense in those words.

It is a kick in the teeth and very disappointing but I am not going to go too hard on the BOD until I know the full context here. Today will be maximum pain and anger. But that will dissipate if the progress that this money brings is tangible enough starting with a successful tax loss conclusion.

I'll be the first to admit that the PXEN accounts had me stumped first time around.

Don't forget that a significant amount of cash is tied up in trade receivables.

But more importantly, that set of accounts does not allow for the Viura gas field deal. The first drill there has delivered a much bigger result than expected and we await the first flow rates and reserves update (imminent).

PXEN has a commitment to the 2025/26 CAPEX which is due in May 2025. Any prices above €30/MWh eat into this cost along with flow rates above and beyond those planned for. Current pricing at €48/MWh is very positive.

Once those wells are drilled Viura will be a 4 well production hub delivering significant cash flows to PXEN (starting late next year/2026).

None of he current reserves or indeed the upgrades that are coming are included in the last set of accounts. It is well worth reviewing the broker note which whilst always high end it is assessment does give good info on expected future revenues etc.

Lastly, PXEN expects to be finally drilling Selva next year which should provide a marked upgrade in revenues from that asset. Again not included in the current accounts. There is also drilling at El Romeral which could also start late next year. If you are interested it is important to get a good handle on the assets which I will admit took me a good few days.

This October presentation is also very good.

https://www.investormeetcompany.com/meetings/investor-presentation-739

The biggest risk is a shortfall in revenues to cover future drilling but Viura could soon deliver a result that renders that nullifies that threat.

I think the other key development here that those following closely understand is that yesterday's cash injection (115,000 pounds) whilst small to the untrained eye is a significant sum for these guys. With directors all continuing to take shares instead of the majority of their wages this money guarantees that ECR can push well into Q1 if not a little further. What that does is open up more time (if it were ever needed) to conclude a successful tax loss deal.

But better than that we are being told that it will open up further drilling which would need to be Victoria based. So we could well see another programme at Tambo as soon as it can be properly planned. If these first 5 results are as good as they think then that creates a third very exciting and near-term news stream. These guys aren't stupid.

They feed off the fact that you care. You are their fuel and can choose whether to keep filling the tank or not. The results will do all the talking here and it will be a busy run into Christmas which won't have gone unnoticed.