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Hopefully something along those lines.

It may come back disappointing but there is certainly still a chance to meet our high expectations.

But plenty of other prospects to be spending time on, if nothing to chase they would have walked away. Boucher knows his stuff and was involved in the identification of the Fosterville Mine. Hopefully Rodney telling his friends at Kirkland all about what they 'may' be onto.

https://miningmaven.com/index.php?option=com_sppagebuilder&view=page&id=7&Itemid=545

Exploration activities in Victoria are being led by Dr Rodney Boucher, who has extensive geological experience in the state, including many years of involvement with Perseverance Corporation, the ORIGINAL DEVELOPERS of the highly successful Fosterville gold mine now owned by Kirkland Lake Gold. The Fosterville mine is located in the same district as MGA’s Bailieston and Moormbool projects

Thanks for posting up Donald, A thing of beauty..

Have to say, the longer they stay on HR3 the more optimistic I'm becoming. They were on Hole 8 last week (arguably finished that) but still drilling the HR3. I think they may be closing down on this anticline, thrust fault gold system... Possibly mined gold at surface to 60m (especially the Byron which reduces to nothing at depth) are off shoots from the main lode.

The anticline could be dipping north or south and extending for some length. One big golden whale under there.

*An optimists take*

"Possible TR1 if they continue accumulating".

Kirkland Lake Gold? :-) :-)

This relatively strong talk of Fosterville has come out of nowhere.. We all knew there were similarities and Boucher knows what to look for.. But this was always something for later down the process.

There are 100's of exploration projects Kirkland could choose from in Victoria, they have the cash to buy up anything they want. Therefore, i need more convincing before i take this hint of a rumour on board..

I believe the fosterville mine contains anticline structures so maybe similarities starting to align already.. Does seem a bit out the blue.

A very pleasing RNS. No further HR3 results but the update mentions we are drilling on and the anticline hypophysis appears to be correct. This I feel is massive, if they understand what's down there then they can target and trace gold mineralisation without guess work. Also, interesting they are continuing with a 7th and 8th hole. Looking promising perhaps .

Creswick also very exciting.. The new holes are 2.2 KM south of previous holes.. If they find similar grades there then this becomes interesting as it suggest the mineralisation along the DMS runs for at least 2.2km.. ££

Back on folks, well done CB and the team :-)

I think most have moved on now from the raise and over confidence regards first hole(s) at HR3.

However, CB is going to incur further wrath from shareholders soon if he does not update the market. He said in his last interview "end of month for further HR3 assays", also "drilling to commence early May at Creswick".

He siad it and we have not been provided an update. Why didn't he just push these events out and note it would take to mid or late May?

I have no problem waiting for events to unfold but either he is trying to dangle a carrot or two to protect the SP or he is clueless as to how long things take.

Also to be realistic, the fact we haven't heard regards the last two holes at HR3 yet does not fill me with confidence that something decent has been found. Hopefully I'm wrong. (like last time when I was confident).

A better SP fix might be 4g/t between 76 -151m and higher within the laminated 40cm section below on the first Mauri drill which has assays pending ...

Got to stay optimistic anyway..

I'M JUST GLAD TO HEAR SOMETHING IS HAPPENING AT CRESWICK, ITS BEEN A WHILE.

I'm glad to hear further drilling at Creswick using contractors as its going to be alot faster than the ECR drill rig and allows us to continue at Bailieston in meantime. Maybe this is essentially what the extra funds are for, if this is the case, ECR should have just announced this as I think shareholders would have generally been accepting of this.

Hopefully they intend doing a good amount of drilling say 4000m+ so that we can really understand what's there. Doesn't sound like they have given up on HR3 either and Blue Moon to be drilled.

Wise words Pippi, for a while I hoped the first few drills would hit the motherload and it appeared possible but thumping reality today.

However, I'm feeling more positive this evening... I have re-read the RNS a few times and as someone mentioned, objectively the RNS isn't that bad, the problem is the weight of expectation that had mounted due to CB interviews.

Positives to stay optimistic as follows IMO.
- They are beginning to understand the geology within the HR3 area.
- There are high grade intercepts, these will likely not be isolated and must originate from somewhere.
- A possible anticline structure is becoming apparent (potentially) over the HR3 north to sough east.
- The gold mined at surface may be offshoots from Loades associated with the anticlines (my amateur interpretation).
- Fosterville mine is associated with folded anti-cline structures.
- We are on the right path and need time to figure out HR3. Another 10-20 holes and we will know either way.
- We have Blue Moon as a 'banker' to move onto. Long quality grades with simple geology that can be followed as it dips to the west.
- Further targets within Bailieston, Black Cat, yellow moon etc.
- 'Fully Funded' (Caveat with that one).
- Creswick another story altogether and potentially a JV partner.
- Tambo, something else to go at when the times right.

My strategy remains the same. Hold until we know what Bailieston contains and we have a JV for Creswick.

I hope not, been involved with 1 or 2 Chinese companies and to put it mildly, shareholder value was not returned.

Noted this is a generalisation but once bitten twice shy.

I hope not... Been involved with 1 or 2 Chinese companies in the past, was a mistake and to put it mildly, shareholder value and interests were not at the forefront.

Noted, this is a generalisation but once bitten twice shy.

Let's hope this placing is indeed to let in Cb's mates, neighbours, cousins and friend of friends.. Hopefully he sitting on visible gold in each of the 6 holes and took the opportunity to top up the coffers and excelerate exploration but also hand out a few easy bucks.

As annoying as it is for everyone else, this is the best scenario for shareholders rather than purchase of new license or cushion to allow company to keep going after weak results.

Potentially in a few weeks this placing is behind us and we are talking about the 100% owned 1mil oz potential deposit(s)..

This is not the first time we been slugged in the guts, i remember April 2020, sp at 0.75p or something and he done a 0.5p placing... It was crazy..

Just when you think you have seen it all on AIM......

Really odd that ECR have placed for further shares with a load of cash in bank already which we expected to add shareholder value in CB's own words until 2022. I don't get it, there are a few potential reasons as mentioned by others which I don't disagree with. However, no point me trying to speculate again as didn't read the delay correctly.

We await release of the full story and why they need the extra cash, and why now? At least we now know what the presentation was for...

Still holding all and waiting for the Fosterville style mineralisation and potential gold mine at Bailieston + potential further 80g/t drill holes at Creswick..

CB needs to start focusing on shareholders now, past 12-18 months been about filling the company bank account. They need to get on with it now and spend the money wisely.

Ok, so now we know why the radio silence. Not what most expected and certainly not what had been alluded to. Maybe the Midas drilling process proving to be a bit more expensive than first envisaged or a second rig being bought. Clearly the placees have been offloading the past few weeks. No-one could understand the big chunky sellls, hopefully most of the 90mil has already been forward sold.

CB been building up company cash for over a year now. Selling off assets, placings and pumping warrants.. He did say we were fully funded so don't understand further dilution at this stage.

Will have to wait further news to know the full intentions.

I agree, its been too long a wait.

I can't see CB sitting in a dark room worried about releasing a poor RNS waiting for more drill results to come back positive. He would just put them out and move on to the next reef. Also, we have visible gold and at least 15g/t Pxrf reading higher up than the main Byron Reef on the first drill hole.

My thought are, perhaps whoever in talks regards Creswick now wants a JV on everything (apart from Tambo). They have inspected the initial HR3 cores and requested they see the rest of drilling from Byron and maybe even a core from another reef before sealing the deal. In addition, they will want to see the further land applications granted.

Perhaps we could be in for a longer wait than expected, but I do not expect anywhere near negative news at the end of it.

We are at 2.9 - 3.1p currently.

It doesn't take much to get back to where we were. It took weeks of dripping down but a couple of 20 or 30% sessions and we can be back to 4p. (with little effort).

Hopefully primed at around 4p before news flow.

I dont disagree there could be some form of NDA being applied regards jv at bailieston. However, why would an NDA be required, why not issue results and continue negotiations?

Another possible is Craig doesn't want to issue results until all the Bailieston license apps approved..

On ehting I just wanted to remind myself. Hole 1 is not a 'duster', we know that already.

There is visible gold in core (which we have all seen the photo) and the pXRF readings above this are indicating possibly more than 15 g/t. Therefore, the visible gold section very likely to be high grade, the pXRF also not going to be miles out therefore even 10 g/t would be nice. Quartz found well before the expected 130m depth and found beyond the Byron main reef to 300m depth. For all we know it may still be open at depth beyond 300m.

Far from a duster but what are the lengths of core with decent grades.

The Tweet mentions a 4 hole drill programme at Byron for 750m.

My understanding was that drilling was initially for 3 holes with 2 more potentially to be drilled. Therefore, if 4 being drilled before moving onto the next reef then this must be positive, they wouldn't waste their time drilling otherwise..

Presentation page also noting some historic results a bit over 15 g/t which was what CB stated in interview 14.02.21 based on Hole 1, pXRF results. Therefore I suspect this will be the grades they record (with potentially a very high 5m over the main reef at 110m depth). The question is, how far does it extend, are we talking 10m, 30 or more meters? This will be key.

Looks like we will have to wait until all the drilling is complete at Byron reef before releasing the results enabling a comprehensive update.

Then onto Maouri Reef and the other two.

Been waiting since March 2019 therefore will be waiting for as long as it takes for this to all pan out. Creswick JV and some drilling (hopefully some more 80g/t intersections). 4No HR3 reefs explored and possible resource released (end of this year), visible gold already found at Byron. Further drilling at Blue Moon and Black Cat. Once all these boxes are ticked, the value will be there ..