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Add to that if ECR ever produce their own gold and make a profit, the Oz subsidiary Mercator has a considerable tax loss to offset against those profits.
Plus we get periodic top ups of working capital via R&D tax reclaims from the Oz government.
Finally there are payments up to $2m due if the licences they offloaded to Fosterville last year are ever progressed.
All in all a very well run junior explorer.
Sharanw, I agree I've been invested in many junior explorers over the years but this is the first that has bought their own equipment. Most bring in contractors. Does seem a sensible thing to do currently though with the high activity in exploration in Oz. Craig is a big forward thinker I believe and has taken his time acquiring the right ground in Oz and refocusing this company over the past 4-5 years.
Before him it lacked focus - Share of a project in the US, Project in the Philippines, projects in Argentina.
Now it's almost exclusively focused on Oz. Which is a hot region particularly with high gold prices.
They recently applied for some further licences in Eastern Victoria with some historic production, hopefully they will secure those as clearly there's yellow stuff in the ground.
OMI will come good, they have exceptional grades and two majors involved. Kick myself for not selling out on a high and buying back now but I generally invest for the medium to long term growth not the quick trade (i'm no good at it). GGP sat around 1.5-2p for around 18 months (post JV) before it started its meteoric rise, exploration takes time.
Back to ECR bagging exploration at Ballarat would be a fantastic addition.
Tambo early days but Geo's must have seen something they liked to make it worth applying for.
Ha thanks Jack.
I think it's fair to say the herd hasn't really arrived here yet (daily volume of posts all i'm working on)probably as we've not had many double digit rises to draw attention. But when they do expect the usual shenanigans on the BB!
Don't know about you TS but i'm more than happy for it to be steady Eddie at the moment consolidating at each level?
Q1 2021 could see real fireworks here. With Quantitative easing expected to ramp up early next year and it's impact on the gold price could be perfect storm....
B
It's been a great steady rise here last couple of weeks. Looks like good support around 3p and hopefully no significant gaps (although i'm no TA). Very happy to be in profit after 9 years.
All set up for 2021 to let the assets do the real talking.
Good JV would be transformational but decent drill results from the new diamond rig could see substantial rises.
Could be another R&D tax refund due soon too (depending on how much qualifying expenditure fell into the most recent tax return)..... which all boosts the exploration budget.
Shaz, totally agree. Hardest decision facing investors (different for traders) and why research is so important to understanding what you have invested in and what the likely inflection points will be (up and down).
I had same problem in GGP early this year. Made the decision to derisk and take some profit when my initial investment had tripled... do I regret that now, of course! But i'd already adjusted my target twice and wanted to protect my capital.
I'm facing a very similar issue with Zoe..... and i've held here for a long time (since the start of East Denver project in HNR days), the potential though is making me think really hard about top slicing even a bit.
So with the RMS sales, warrants converted a the other week plus whatever other cash BRH may have had would put us around £19m cash.
Market cap is £15m.
Other investments valued nil
Hmmm
Legalwolf have a look at SOLG (granted completely different industry) for an example, they moved from AIM a few years ago. I think the main thing it adds is more stability to the SP (baring disastrous news) and stronger regs and governance on the company (safer in theory for investors)
It’s generally harder with a main listing to raise capital but also more II’s are attracted
Possibly, I know what I will be buying in bucket loads at that point. And it isn’t RMS
Current SP of RMS means BRH holding is heading for 50% of BRH market cap...
Oldfinger, Absolutely you can buy and sell within an ISA. The only constraints are max investment of £20k a year (across all ISAs you may hold). For shares bought within said ISA any capital gains and most dividends are tax free.
Or they wondered why Tesla was only raising $57m.... lol
NK1234, logic? You are talking about the country that voted Trump in. I think logic is a bit lacking.
Indeed it’s not!
More drilling results.
1,075g/t wholly crap! Granted only 1m but that is huge. 24m at 13g/t is also fantastic.
Maybe a bit more life here today with gold passing $2000 Per Oz overnight?
Hi Kabaa, absolutely. Cash in the bank when exercised and positive endorsement of the unfolding story here as they are optional for holder after all.
I have a small position in IRR great assets and I like their approach as opposed to giving it away although it has been painfully slow to realise value there.
In ECR I’d settle for giving away a large chunk on one asset (Prob Baillieston) if it put us in a stronger position on Creswick but time will tell:)