Member Info for BlackHopper

kongo...busy today so i will not tire you with another long reply and I am happy to accept you have been here a long time. However, you appear to have only returned from a long absence to pour lots of cold water on the NEW EEE project. this tells anyone interested a lot about your possible motivations.

I agree that MS and NoB moving to Candelaria does smack of 'walking away' but the fact that Candelaria are now dealing with the Georgian issues and that the board of EEE have paid themselves with EEE options at 4p and 5.5p shows the opposite of 'walking away'.

The MCap of EEE is tiny. The investment needed for a project like Eclipse is small. The price of Gold is very high. Eclipse is in the best location possible and even the vendors too part payment with 4.7p warrants... so yes, I'm sure you ARE invested. Who wouldn't be.

ATB BH

Incredible amount of BS on this thread. Cyberia... thanks for posting some sense but I fear it will be lost on the wind... top prize for whomever posted sell all African assets. Nugget!

copied from Trek on ECR board....

We are the highest riser today on my list of 18 gold stocks, 2nd is EEE so the sector still isn’t in favour.

Now is the contrarian buy imo.

Trek

He knows what he is doing.

and finally..... if you want to find a better troll sentence than this to post the please be my guest:

'I see this as an opportunity for the brave and optimistic to add, but expect a new placing announced as soon as you can read "JORC" in the next RNS...'

Brave, optimistic, placing.... all in once sentence. Nice one kongo....or

'If CMG are not willing to part with the cash, why not take up Candelaria's 7M CAD share offer at least to crystalise the deal?
The fact is that none of them have happened, wich leads me to believe that some form of compromise is being worked out between EEE and CMG... Something I'm very concerned about, because they're sneaky Russians operating in politically incompetent Georgia. a mix that is a slow motion traincrash to watch....'

Concerned, Russians, traincrash. Nice. Have you read the offer kongo? There is no 7M share deal to just 'take-up'. Really. Just stop it.

And with that, so will I.

.... continued.... but the deep play we can leave for now.

The value of the shallow gold would probably support the whole current MCAP. The deeper resources would probably get you up toward the 10p mark at current shares but the JORC will make all this clear.

MS has mentioned the new work programme taking 2 months. This was perhaps a mistake but he is honest. Those that like to play games saw this as the out. 2 months is forever on AIM and with POG trading sideways it gives a clear 'sell and buy back cheaper' window which has produced the trading of the last week. Those same sellers are now buying back. in mining terms the route here is very well mapped out and very short. No years and years of drilling and planning and financing a mine. Eclipse is the INITIAL CAMPAIGN in the EEE resurrection program. The next project will be the bigger profit generator as Eclipse will provide cashflow.

Bolt on to this the Price of Gold prognosis for later this year and 2022, 2023. All the global money printing (FED ECB BoE etc) to get us out of the C19 pit WILL lead to inflation and this is VERY bullish for gold. the margins will be moving firmly in all Gold miners favour later this year. Very good news indeed.

So i prefer to stick to the known fact and not post a load of random maybe's designed to scare readers of a BB. Look at the Feb 22 RNS and read what the vendor a finder were paid. What use are the 14.2 million 4.7p warrants given the above musings? Not a lot. They'll be hand when this is 8-10p next October.

ATB BH

Nice one AG> I agree. Look at those SHALLOW high-grade veins. Specific, targetable, high gramme per tonne quartz to put on a truck and take to a plant and have processed for EARLY REVENUE with LITTLE OUTLAY.

And therein lies the key. If you bother to read the terms of the Candelaria deal for the Georgian assets you will CLEALY see that even with agreements with GMC there will be no magic $4million or whatever landing in EEE's lap. Mike, after years of trying to sort the mess out clearly took the decision to move forward with something else and went for it with Eclipse. He needed some money up front to pay for the initial option, take up the 75% and drill and test the site to outline the resource.

It's NOT a big resource. It's NOT 100's of thousands of ounces. That's NOT the point. The point is, it is a specific, SHALLOW high-grade vein system that can be dug out cheaply, starting from surface and trucked to a processor nearby. Eclipse can start producing revenue almost immediately. So the plan is clearly to use early revenue to pay for subsequent stages with the full 'Payback' coming with later revenue and applying that to a subsequent GOLG PROJECT also in Australia that the new CEO can develop. Hence the 4p and 5.5p options running to Jan 2025 (Feb 1 RNS).

Mike, Neil O'B and GK have paid themselves with those options. A future SP of 8-9p will net Mike approx £350,000. That's the plan. SP of 15p plus will set them right up.

The allusions to 'flipping' the project are pure speculation. I don't think it will happen. Candelaria have plenty to be going on with in Mexico and so the 'low-ball' offer theory is just random sub-troll speculation too. It's sad to read it here but if you have been on BB's a while you will have seen it before. there is NO BASIS for it at all. Just a new 7 post poster, with probably a different former identity, having a go to see if they can depress a weak holder into selling at bottom.

I have resisted responding to suggestion that Gervaise Heddle might be a candidate fro the new CEO. i'd suggest that this is less likely to happen than me to find a gold nugget in my Corn flakes tomorrow morning. It's not a big enough deal for him. We just need a decently experienced Aussie miner who know the area and is ready to put this into play and then manage the next deal (which will come this year I believe).

I think we will raise perhaps a couple of Million at some point to get the ball rolling. as alluded abouve this will be post JORC but once the mine plan is out in the open along with the resource the SP will reflect that. I'm sure there will be plenty of takers. The mine will have 3 basic phases. Initial, shallow vein digging and pit, deeper vein extraction and further deeper pit(like the Jack's Dream 24M...) and then underground to follow the key veins down to depth. There will be further drilling to see how deep it is worth going and bear in mind there could be a lot more ore we still have no clue about ...conti

Kongo.... I did have your number from the off, but will address all this with some common sense in a minute. What you are doing, very politely, is so transparent. Given the ridiculous drop it's probably immaterial.

Will come back but I think EEE will mine Eclipse. They will raise to start it off, that I agree with. At what price we will see. The 'buyout/flipping etc stuff is PURE speculation and I think very unlikely.

russell... shame on you matey. If you do that, you don't post it. Simple rule. Very poor. That's it, nothing else to be said there.

Back in an hour....

Would not have predicted this long a gap between RNS's but it certainly feels like something is cooking......

or to put it another way.....

This drop is so fantastically, ludicrously overdone..... but these things happen on AIM, particularly if you give the market even half an excuse. It does help to have some shareholders who want to sell NOW.

The selling has felt very 'organised' at times. I'd be very surprised if it was all PI's that's for sure.

Anyway, as I said a few posts back, the news here has be great over the past 6-7 months in respect of eclipse and we are set to receive more shortly. Yes we want the things you list too AG but behind that sit's my comfort with what looks like a very manageable and profitable small open pit gold mine with underground to follow on.

AG, I think it is clear we could mine in Q3 but whether we will I don't know. Timeline on mining licence would be a factor but MS did give the impression when he mentioned booking Toll Milling slots (which get booked up in advance) that it would not be too far in the future.

We need those initial diamond drill cores for metallurgical tests first but I still believe this could all happen quite quickly once the resource is defined.

I also think it is clear that BOD, having 'paid' themselves with options at 4p and 5.5p (RNS 1st February) have only one destination for the SP in mind.

REALLY

Living up to your name TS !

Greeting Kongo... always interesting to have an unusual poster arrive at a time of stress on any BB, but to address some of your 2 cents.

Mike is no doubt already busy at Candelaria. I think it's pretty clear the Candelaria deal to take over Georgian Assets from EEE was a way of moving forward for EEE but leaving Mike in control of something that has no doubt bugged him for years. Mike's options in EEE are at 4p and 5.5p. Not much use to him at the moment for all his efforts!!!

From 10th December RNS re Eclipse purchase:

Exercise of Option

Empire Metals has exercised its Option to acquire a 75% interest in the Eclipse Gold Project from Philips Exploration Pty Ltd. The Company will pay AUD$1,000,000 (approximately £550,000) in cash, AUD$500,000 (£277,750) to be settled via the issue of 7,095,510 new ordinary shares of no-par value at a price of 3.91p (calculated by reference to the 30-day VWAP) and the issue of 7,095,510 warrants exercisable at 4.70p (a 20% premium to the 30-day VWAP) for two years. In addition, a finder's fee will be paid to an unrelated party of AUD$500,000 (£277,750) to be settled via the issue of 7,095,510 new ordinary shares of no-par value at a price of 3.91p (calculated by reference to the 30-day VWAP) and the issue of 7,095,510 warrants exercisable at 4.70p (a 20% premium to the 30-day VWAP) for two years.

No TIE-IN clause that i can see so i suspect both the finder AND the vendor could be selling their 7 million because they want money now. I'm sure some of the continual stream of selling is down to this but they must run out at some point and then what price are their Warrants at ???

Lots to look forward to Kongo so do not miss out ;-)

I agree with most of what is posted here in some form. I get the frustration but fundamentally agree with AG's take.

I am not sure that I agree that the 'market' as a whole has written this down to this level. I think it is to do with one or two key sellers. I wonder if the vendor of Eclipse is selling some for cash now at whatever price and that has added to the initial dip.

I am heartened by the short timeline to next news from Eclipse but agree that CEO news is now very important. However, it is an important appointment so should not be rushed. We need the right individual.

For someone not invested, or who sold out a couple of months back to watch, this is now moving into a very exciting 'multibagger' potential space for later this year. There will be a few in this category I am sure. Only one thing is going to happen when these lucky people re-invest.

This is the nature of the junior miner market and the Gold space is showing similarity across the board. However, the companies that are regularly listed in this sector are often very, very different with hugely different processes in play. EEE is quite unique in this respect.

We have a small but very attractive gold resource in a safe jurisdiction with low extraction and production cost potential. The price of gold is very high already. Anything over 1g/tonne is very profitable according to MS. Even with the bond yield movements in the US, POG it is staying over $1700. That is some serious price consolidation! A move back to and above $2000 later this year is going to set the junior Gold space ON FIRE.

Will that price move happen? No one can be certain but it is a real possibility. In the meantime, all the signs are that EEE will be steadily moving forward to the inevitable first production at Eclipse. How long will people risk being out for? Would you want to be out for Maiden Jorc or Pit Optimisation Study or notice of initial Toll Milling?

I'm not sure you would. AIMHO BH

Two very true posts..... buyers market across the board in junior gold space. Hold tight folks.

Just to add.....

Agree with John for one, but taking those 5 companies, only EEE is actually looking at producing some Gold near term.

ORR, PAT and WSBN are all 'just drilling' and have a long way to go and OMI are in the hands of another. Their MCaps vary a great deal too. I agree with your general statement about junior gold exploration companies and that with gold 'still' at $1740, dropping them is pretty crazy but with the same logic, once gold starts to climb again the turnaround will be massive.

Gold is so bullish medium AND long-term. Again backing John's approach.

Here at EEE we have a small and specific project that will be low-cost per ounce to extract due to depth and location with facilities and expertise at hand. Certainly, people adding now will be in clover shortly.

It will now be interesting to see how long this low price terrain can be sustained. I actually think EEE is firmly on a whole bunch of 'radars' and buying will be on the cards in the next fortnight. It is always hard to predict when the 'turnaround' moment will arrive.... but arrive it will!

I agree that it is very refreshing when a company shares details of drill holes and location and potential routes to extraction so clearly in an RNS. This is a 'no BS/hot air' entity that is en-route to producing gold this year.

I am now wondering if the vendor, who has plenty of warrants at 4.7p, is selling some shares even at this low price since they want cash now. it's hard to imagine a PI of recent times doing this unless they were very financially stressed. However someone is. Normally the whole situation would give me lots of concern and stress but here it is mainly just annoyance. the information we have is so clear that it is much harder to feel that we might not be taking something else into account.

Spent a happy hour this afternoon reading about the history of Olympic Dam. My god it's a BEAST. New town, airport, power line and roads... just imagine... I know... not likely...

Snip, I think the one circumstance where he WOULD RNS is if they were bad. So I think you are incorrect IMHO

It's clear he has hole 1 assays back. I would be amazed if hole 2 is not done and samples off to Gecko for assay too. Hole 3 commenced...

I think what we are seeing here is PRECISELY what some have alluded to.
a) CB does not want to get into and 'RNS every time' mode. It would just be a pain. Either you know the story and believe or you don't and don't. You have to decide. Both option lead to trading....
b) There may well be NDA's but we don't know so it is just speculation.

Personally I am not worried. At all. There will be warrant holders trading, LTH's taking profit and just chancers. This is a storming long hold. How long, how storming we will have to wait and see.

I am a newbie so i just take as part of the process. ECR/MCA have sooooo much work to do but the end results could/should be EPIC.