Member Info for djwall1s

I suspect the bigger trade after me (5,750) was a buy as well given the price is bang on.

Yep. After you, 15-Apr-21 08:38:49 1.155 5,750 Sell* 1.15 1.25 66.41

is my buy. Only a tiny top up but I've never understand why the system is this complicated algorithm thing that cannot just record a buy as a buy, and a sell as a sell. Why is it so difficult to just register the function of the button someone pressed instead of all this round the houses stuff? Honestly.

I'll say what I've said about a few AIM companies I have held, ECR's comms are poor. And I don't think they've shown enough interest in updating their own website (the actual ECR one), kept investors informed or produced really good presentations. And I wouldn't say CB is the most lucid of spokespeople I've ever seen.

But they are operating off a small staff and the PR side of things gets overlooked in favour of boots on the ground. I get that. But as you gain reputation, expand, and ask more of investors, you have to show them some attention in return. Make the website up to date and readable, merge it with the Metcator one. Perhaps change our name. Get a bigger team, and most of all keep people in the loop. It's not a game of emotions but if is a game of facts.

If you don't offer facts, people will make up fiction. And it'll escalate to the benefit of nobody but detractors.

The ball is in Craig Brown's court with these (lack of) comms.

And o/c the JV may not bear fruit. I've always said it's not guaranteed, and that ECR may have to go it alone.

It'd be market displeasing for a while but we also know that companies have drilled their own land, with no help, and made big finds in oil, gas and minerals. Bit that would also accrue more cost.

Boot on the other foot, JV is fine, but lab costs and work timetable has escalated with further clauses or demands.

So yeah, a is far from lost but those are only a few thoughts and everybody has their own. Only he knows and only he can tell us but I'm prepared to hear him out.

Supposing that the changing nature of the business plan means a fund raise is needed to factor in updated running costs and quicker work on new app land they figured they might not be granted? But now look as if they might. As discussed, supposing one of more are part of a brand new request from a JV party of interest?

I do think the truth is probably mundane rather than exotic, that the initial 4m might not have fully taken into account being awarded all or even part of those licenses. But if they start coming in, and the brief has changed for ECRs projections or a potential partner, then this episode would make more sense.

Day to day mining costs can eat millions in a short time. I suspect that's we what he'll say when he does. If that happens, for me it's okay, as long as it accelerates work, results, and builds mid-longterm shareholder value at reasonable pace.

But I do suspect this seemingly mundane reasoning will not be to everyone's taste.

See below. I've had to look at POW's license grant because there's no obvious glossary terms to say what 'Application', etc, mean.

The screen grabs were being presented yesterday as if the licenses had been approved based on the wording. I thought they had been, but in digging, you find we look to be no further along.

That's what I'm saying. It's not been granted. It has to be 'current', not in the application process.

I've found POW's recently granted license just now. The text should read as following:

Approximate address: 35 Ferrers Rd, Dereel VIC 3352, Australia
Exploration Licence
EL007327
Status: Current
What this means: The licence holder can explore for minerals in the licence area.
Owner: Red Rock Australasia Pty Ltd, Unit 6, 42 Dellamarta Road, Wangara, 6065
Commodities: Gold, Other precious mteals
Application Accepted Date: 09/11/2020
First Grant Date: 15/03/2021
Expiry Date: 14/03/2026

-----------------------

Our's are still only in 'Application', including the Creswick one from yesterday. As far as I'm reading it.

Sorry guys, not our time yet.

This is getting confusing.

I also found this, from an unrelated company:

Exploration Licence
EL007366
Status: Current
What this means: The licence holder can explore for minerals in the licence area.
Owner: Torrens Gold Exploration Pty Ltd, GPO Box 2517, Perth, 6831

--------------------------------

This has 'current' status as opposed to Application (like ECR's do). But the 'What this means' says the same thing.

We really need to find out what 'Application' means with ref to the description given. Has application been 'approved' or still going through the approval process? I have looked round the resources site but can find no glossary of meanings.

If someone else knows please do post as his would help clear things up. TIA.

This is Wirrate. They're hard to find on the map because it doesn;t seem to allow you to input license numbers, but areas, so you still have to hunt the lienses down.

Wirrate – EL007296

Approximate address: 466 Nagambie-Rushworth Rd, Bailieston VIC 3608, Australia
Exploration Licence
EL007296
Status: Application
What this means: The licence holder can explore for minerals in the licence area.
Owner: Mercator Gold Australia Pty Limited, 2 McGowan Street, Bendigo, 3550
Commodities: Gold, Antimony, Silver
Application Accepted Date: 19/11/2020
First Grant Date: N/A
Expiry Date: N/A

-------------------------------

Looks like that has the go ahead too.

Looks to be confirmed. The status box indicates they now have permission to do sampling and field work. I don't think it covers a drill app.

If it turns out to be dud, I presume they can revoke or freeze the license and it sits and waits for another taker to do more sampling work if they wish. Or accept the work carried out as good enough and go straight to a drilling app.

If it's good news, like good soil samples, etc, they can begin the drilling app/process. But all this takes time. We do have Baillieston and Creswick ready made for this year so that's good. But the bigger picture I can't see as being near ready to drill this year. Not that it matters to me. It just isn't isn't an overnight job, of course. There'll be a lot of waiting around unless our bells and whistles lab can turn things around in double time. :) Plenty to look forward to, hopefully.

Have. Would have. Sorry for being a grammar naxi.

I'm not banking on an RNS today, would be nice, but... The license around Creswick is certainly an interesting talking point. Tbh I think most of this year may just be sorting these license apps out and the advance work needed before drilling. I'm writing this year off mentally. But as a LTH this isn't an issue for me.

And honestly, just looking at the amount of land to be granted, this company is going to have to expand its own personnel substantially to be on top of all of this.

Oh of course, it's totally up to you how you present yourself, but sadly you won't live up to your name and expect to reign long on AIM with emotional blackmail posts at CEOs.

Take it as a friendly hint. It's been done to death already, and they don't listen to that stuff. But yeah, you do you.

I wish I had those kinds of funds right now! Not guilty, m'lud.

Some potentially lucky person though.

"He better be good and believable lol or i will sell up and through it all into the ECHO retrace before Martin starts his updates"

See, this^^^^. Way too emotional. He's not going to care about your threats and switching your affiliation to another share.
Please, people, ask him fact-based, cold clinical questions. He can't put a sticking plaster on our emotions.

What is this funding for? Why now? What can investors look forward to in future? Is this company being held back by warrants? What does he intend to do about making it an even playing field for small investors, who have nevertheless been loyal? Are the Chinese still on board? Do we get an updated presentation with an actual timeline? Does the ECR Minerals website get the same love as the Mercator website? Who are we really - ECR or Mercator (sometimes it's unclear)? What's happening with the license apps?

And no, we don't want a 'spin off' company.

Do we?

Etc, etc....

Imo, keep it as emotionless as possible and we're likely to get clearer answers. Don't get bogged down with threats about switching up for some other share or how you can't pay your mortgage off thanks to this. He knows all of this, but it'll be of no real concern to him. His concern is building this company.

Have bookmarked it and will enjoy a good read of it this weekend after work when I have more time.

Cheers.

For the record I'm not fretting about the sp, it's just a current pattern I've noticed. Unless the company starts making odd noises I'm here for the foreseeable. I think the sector has a lot of mileage in it, the stinky green bitcoin, if you will. :)

"I don't think the issue is the raising of more cash,it's the price and timing.
Why wasn't this done a few weeks ago when the price was higher? "

I can't speak for him, only he can tell us.

But it may have been a spur of the moment decision or dependent on another link in a chain. Business frequently says one thing one week and does another the next. It's not so rare. The word here is 'other opportunities'.

Now I hope they're not mucking about looking to purchase some pipedream in Africa that's awesome but will take zillions of years to get anywhere. Ideally it should be opportunities in Oz, but I'm not in his head and he may well have seen something so lucrative it's hard to pass up. We should find out in time.

Imagine if, on THIS placing money, something was found or done later in the year that 1. makes holders materially better off 2. couldn't have been found/done without this money, would people still be out there running round calling the CEO all names under the sun, and that they've been 'shafted', etc?

I also take it to be an encouraging sign that any company can raise money in so short a time, especially in the current climate.

Indeed.

And, whilst nobody likes placings, they are sadly necessary, because mining eats money. A few million can go very quickly. And it's always better to raise early on than **** everyone off further down the line, though this happens too, as we know!

We had it all with GGP, placings that ****ed folk off because it seems like the company was being mean. Then wham, look what happened there. They needed bigger money to play in the big boy's league. I'm not saying that's us, yet or ever. But out there, in Victoria, where dreams really can be made, I'd rather be tooled up with extra cash now than have to do it later on.

Nice one.

I wish I could! Hargreaves Lansdown not doing bed and ISA ('because of the pandemic') for a year now. Now that is pants, lol! ;)

Btw, suspect CB may be putting out another interview fairly soon.
At least I'd hope so, just to show willing.
It's water off a duck's to me but clearly other folk are panicking/enraged, whatever.

So it'd be good to hear from him. Just to steady the ship.