Due to be well impressed!4 Dec 2018 22:02
On Aug 3rd (c120 days ago) ECR signed an Option Agreement to carry out due dilligence on the Iceberg Gold Project in Western Australia. The option period was 60 days.
The Iceberg Gold Project represents a portfolio of ground lying within a Proterozoic belt and within the Plumridge terrane that hosts the Tropicana deposit;
Proterozoic belts are host to known significant deposits of gold, copper, nickel and uranium.
On 2nd Oct ECR updated the market re the option agreement saying.......
The original Option Agreement provided a 60 day option period during which due diligence work could be undertaken. ECR have appointed CSA Global, Mining Industry Consultants, to conduct a thorough review of the project and its underlying documentation.
Recognising the substantial historical project data supplied by the vendors, for which the Company is grateful, both parties have agreed to extend the Option period by 30 days at no additional cost to allow a thorough review of the information supplied to be undertaken.
ECR is working well with the vendors, Pacific Trends Resources Pty Limited and anticipate the due diligence work of the Company, and its advisors, will be completed during the coming weeks.
That was 60 days ago!
CSA Global and ECR have had a decent amount of time to complete their review (`in the coming weeks`) or at least by now arrive at a determination that the project is not worth entering into, if that was the case.
So it looks like they must have something of interest, otherwise why would they expend such energy and time on it with all the other targets and potential news of significantly higher importance such as the results of the samples at Creswick.
I think todays RNS was just the start of a series of significant updates, with the least exciting one out of the way first.
They said shareholders should expect regular updates, well there`s two that are now over due.
So lets hope we are due to be well impressed!
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