Member Info for Dan1605

Yes Tamer, samples that were taken 8 weeks ago.

We're at a pivitol point, it either works out or it doesn't and we have very little room for error. The transition from old to new has taken a year and to come out of the other side having failed on multiple drills is an achievement. Victoria is written off imo, we will never step foot back there again and good riddance. The priority now is securing funds and once we have those we have a clean sheet with the sp at all time lows. I 've been negative on the stick, I'll admit but having taken a few days stepped back it's very clear that certain posts on here clearly have an agenda. For the record I'm neutral, if we can secure funds I'll certainly be more positive.

Morning TS,

AH has confirmed deal is soon to conclude and VWAP will be advised shortly. I can only take from this that it isn't the 0.62 that we hoped it might be but could be wrong.

Cheers

I've emailed AH to clarify. The way I read it the agreement is yet to be concluded and if that's the case we should be pushing them to scrap it.

"by the issue of 31,913,196 Ordinary Shares at a price of 0.6267p (being the volume weighted average price for trading in ECR's shares on AIM in the 30 days prior to the date of the agreement)"

From what I can tell the RNS states "proposed" which means the agreement is yet to be done. I fear the price will be 0.30. If that is the case then what's the likelyhood that this has been shorted to take it down, very likely imo since the deal must be very close to being agreed.

That thought had crossed my mind TS which got me looking back at the RNS. I can't see where the shares have been ever issued however, wouldn't there be a TR1? I'll try and find out but if they are holding it certainly makes them contenders for selling.

What's posted on here does not influence the sp one jot. In fact the majority of us have been here years so we're hardly going to be influenced by BB posters. Holders have every right to be peed off however the intention of certain posts are obvious. The Blue Mountain deal is certainly not in our best interests if they convert at the last 30 VWAP, it would be a disaster. However at 0.6267 it would be a bad deal for Pather until the sp recovers.

Just had another read of the Blue Mountain RNS. A few points that stand out,

"The total consideration under the agreement is GBP200,000 which is to be settled by the issue of 31,913,196 ordinary shares at a price of 0.6267p (being the 30-day VWAP prior to the date of the Agreement), if the condition precedent is satisfied"

Can't see Panther being happy with this conversion price.

The other point is that the deal had to be saitisfied by the 5th June or the seller could withdraw. As is stands they're getting a pretty bad deal if the 0.6267 still stands.

Perfectly put Nicepair. The actual spread is less than 10%. It will open up the 6% it lost today providing no RNS.

The markets are dead, there is no anticipation or sentiment and any positive news is sold into. There will be no build up imo, plus the market won't bat an eyelid at samples, unless they blow some doors off.

These illusive samples are needed. I don't believe for a second that they're not back from the labs so what are they waiting for.

The book is actually very well stacked at 0.25 so unless we get a disastrous RNS I would like to think that this is the bottom.

The price is down on a UT Notrex - irrelevant and will be up by % tomorrow.

They do sound like they're planning a fair few samples and have the RF gun to avoid sending junk to the labs. Without sounding like a stuck record the RNS from 25th May said sampling had started two week prior which means we're now in week 7. They have these reults back imo.

I'm not sure about the bulk sampling Tamer. It could just be a choice of words as they never mentioned it in an interview. I think they just mean taking more samples than usual.

I've always had this doubt Mental. We know the labs are poor but when they say 3-4 weeks it doesn't 8. They've been caught out in the past (Bluemoon I think) where they blamed the labs but it turned out they'd had drilling issues. How many times have they come on camera saying lab times have improved yet they get worse.

I wouldn't go counting your chickens Tamer, it's simply been postponed to allow them to progess with QLD. Colin and Phil are contactable but rocking the boat when you're letting on water and can see the shore isn't great timing.

Agree TS, it was absolutely the right thing to do to drill Bluemoon. None of us ever expected for it to turn out the way it did. I personally can't see us ever stepping foot back in Creswick. It's far from dead and the highly likely to contain commercial gold however we don't have the cash to spend to explore. AH does not rate Victoria, that is evident.

The elephant in the room is cash, without sounding like a broken record and that is holding us back. Reading todays RNS again we have to make a decision on Hurricane before 30th Sept yet according to AJ drilling won't start until September. Surely this can't be more bad planning on his part?

without speaking ill of the dead but it was craig who put us in the mess, *****ng millions on hr3 and properties. ah has pulled this off the scrap heap and is trying to navigate a sinking ship.

"so has dropped massively and all these interviews about ‘potential’ don’t progress to anything." have they ever?

I don't think they're finding it difficult Notrex, I think they were hoping to flip the Philippines. They told us they had "significant interest" when the rig arrived and I think they were telling the truth. It's a question of whether they can manage on the cash from leasing