Member Info for Dan1605

The AIM/Junior main markets are dead Sniper, volumes are low and the MM still have to make a profit. I've been around for 18 years and I've never seen conditions and sentiment as bad, this is not a place for investment. What we have is a handful of punters who are happy to take 10% to cover their Friday fish and chips, very few, if any are valued at their worth so taking about what the MM are doing isn't a great barometer.

As for what the company has achieved, sod all. I only came on board in November and there wasn't was getting involved with SK running the show, mentored but the infamous Andrew Bell. It's time to let the new board have a shot, they've had long and they've already steadied the ship. The drill has been a shower, I won't defend that.

You have hit the nail on the head SJ. The flow tests are undoubtedly the main event however one must keep one eye on that EXT holding. Why would a company co owned by the Chairman pay a 100% premium for 30% of the business. I would love to hear everyone views, including Snipers!

Sausage, I like most on here have been here for a while and I'm under no illusion over what needs to happen to break the ECR curse. I'm sure that there was a belief of the board that interviews and Twitter PR alone would double the SP, not happening. However this being said, we have a board who are active and have so far shown that they are committed which is something we haven't seen for a good number of years. Until they start generating revenue they will continue to raise through the markets unless they can sell the property of utilise the tax loss. I would much rather they focus on developing a small scale operation at Creswick than smashing rocks in Tambo but hey ho. The long term strategy needs to be communicated, the "no guarantees" and "we may never have a mine is Creswick" suggests there isn't one.

"with ECR spending the vast majority of their money in the ground," That's the plan, would you rather see the money go into paying fat cat salaries? You need results (by exploring) before you can progress to production (creating revenue). Name me one company that has sold a product before procuring or producing it? You are painting with a very wide brush.

That being said, they will take 2.7m at a premium so there's clearly demand.

So while the rest of the market is showing some signs of recovery, this seems to be doing sod all. Is it a case of "once bitten twice shy" or believe when we see it. The market seems unenthused for a stock that has a strong pipeline of news.

They say "no news is usually good news" but we know that is not the case here. Comms have been diabolical and where we have had updates we've been left guessing. Ak will almost certainly be getting update from the site and whilst Sononagol are the operator a "testing is ongoing" RNS would settle some nerves, the silence is far from professional.

For the sake of a couple of weeks it's worth doing Mental. The sampling isn't going to set the world alight but it's a necessary evil and we're waiting on the Creswick bulk samples so no point being sat around. I agree though, it does feel a bit like CB days but happy to let them roll out the strategy.

A fellow investor has received a letter from his broker stating the company has being put into liquidation. This is more favourable to shareholders than adminstration but the chances of getting anything back is slim.

Things are progressing nicely, plenty of irons in the fire, financed and a board who are putting in the hours. Some whinge about sampling but without it we don't know where to stick the drill bit, we have 900sq km to go at in lolworth. Boots will be on the ground in Tambo within the next 48hrs.

They've had inbound enquiries regarding Lolworth, presumably regarding a JV.

Just to clarify Toffers, you are suggesting that ECR put themselves up for sale with no actual intentions of selling in order to raise the sp and raise cash? That could be pretty dangerous considering the assets and current mcap.

Greater

Cheers Boffin! I suspect the tax losses back in 2011 wouldn't have been as substantial so its' a question of how much time and effort do you invest before you relinquish. We're now at a point where the potential gain is worth it, therefore the determination to find a solution increases although appreciate that this doesn't mean there is a great chance of recovery.

I'm not a tax expert Boffin but that's an interesting insight. There have been a number of interviews by NW where options have been discussed, I'll have another listen. I've been invested here for some time and I don't recall any predecessor engaging the services of a tax expert but that's not to say they didn't. I would imagine that any discussions would have concluded quite quickly should there not be a viable and realistic way forward, the fact that they are "progressing well" suggests there is a chance.

Morning Boffin

It can be done, take a look at the suggestion by daramuda on Wednesday. It would mean that they would have to sell MGA along with the tax losses, it's a possibility. Anyway, I won't steal dara's thunder, go and take a look.

Nobody is saying there isn't a plan, just that one is needed. There have no choice but to transform into a producer if they want to hit a £20 - £25m mcap.

3 weeks max imo, I'm getting a bad sense of deja vu.

Those two large buys look like rollovers however it should be down on the buys vs sells.

The bulk samples may enhance what we already have but even if they don't from what we know it certainly sounds viable to development a small scale operation. The latest tweet from MW states boots will on the ground at Tambo over the weekend. They're wasting no time whilst waiting on the labs, again.