Member Info for FillToSpill

I'm happy enough with this update. They have secured an operation base, drill manager ready to go, rig on site ready to go, geochemical analysis complete and they know what they want to drill and permits in place. What's not to like?

In terms of timescales, given the above I would have thought 1-2 weeks before the drill starts turning. In addition, no mention of depth but it does state there is some anomalies that head under cover therefore there may be some mineralisation at shallow depth. Therefore, they are going after any remaining low hanging fruit first (which makes sense). If they can find anything above 50m depth with a good resource then we'll be looking at producing very soon.

No mention of number or location of drilling at HR3 or Cherry Tree but this has been answered previously. As they have their own rig, they can start drilling and follow the gold or system. Cherry Tree might show up nothing after first 2 holes then they'll move to HR3. If Cherry tree looking promising then they might spend a few months sinking 20 holes and massively prove up something interesting.

They have their own rig so its going to be flexible.

Thanks for all your thoughts on this, it certainly sounds a potential bagger. I am keeping an eye in here and might start adding in the coming weeks or months.

A company with a similar idea but different market (TV and music) is MirriAd (MIRI) but this is valued 3.5 times more than BIDS therefore BIDS gets my vote at the moment. Also, I can only see the games industry getting bigger and bigger even faster than before. COVID has people sitting at home playing more games and I cant see that changing for a while.

Your right I don't know much about BidSatck at moment and that's why I'm asking questions to try and find out more information.

Pretty sure that's what a BB's for.

Hi, this share is all down to whether BidStack can turn a profit. Currently running at significant loss but the position is taken here on the premise that they can turn a revenue of over £4 mil in not too distant future whilst leaving their cost base the same.

What I would like to know, IF their revenue was to increase from current circa. £300k to £4 mil, how much would they need to increase staff level/Overhead cost etc? I'm trying to figure out how much potential revenue can 1 staff member generate. Is the process automated or does Bidstack act like a consultancy for each customer?

Anyone any thoughts on his?

Thank

Wishbone gold now sitting £3mil higher market cap than ours.

As far as I'm aware they have some old magnetics data near Haverion (GGP) which is showing up an anomaly. They haven't drilled tested.

We are sitting with nuggety gold up to 81 gt at Creswick and high grades at shallow depth on Bailieston. With majors circling and our own rig ready to start turning.

I think ECR have become temporarily unloved but I expect this to change in the coming weeks.

And we have 7km of the Dimocks main shale trend as it heads north from Ballarat mine.. Massive..

ECR Tweeting tonight an article from mid October.

What the boss says: Craig Brown 

“There is continuing interest in ECR’s Bailieston and Creswick projects with regards to potential joint venture or earn in opportunities.

Thanks Tamer, yes that is what I was trying to say.

Perhaps ECR have called these interested companies bluff and the purchase of rig and imminent drilling at Baeliston have brought them back to the table. Last thing they want is ECR to start proving up or else they would likely have to pay a lot more for a slice of the license.

Just a theory. other than that they may already have started drilling for all we know.

I would expect rig to be turning by now so starting to suspect there might be more going on behind the scenes. We delayed drilling at Baeliston for large chunk of last year due to interested parties. Craig stated many times they did not want to start without JV on board as they would need to agree strategy together.. (Creswick separate negotiations).

Has this party thrown in an acceptable offer at last minute before we start campaign? If they have then ECR need to give them 2 weeks max to put up sufficient offer or we proceed as planned...

Hang in there folks, we are 100 pips off FTSE 100 March lows.. March lows ECR hit 0.6p and are very much out performing the market since.. Prob some more pain to come but fundamentals will pull through.

ECR do need to start using their drillrig paid with our cash to hit some assays.. 1.5 years since any drill results so need to go for it now... Gold price and macros in favour..

Some interesting and very technical info about Victoria Gold deposits tweeted by ECR today... Part that caught my eye as below.. Fostervile, Costrfield and Bailieston all mentioned together..
ECR have only drilled to 50m at Black Cat and 450m at Bluemoon and still chasing the gold West at Bluemoon. :-)

Epizonal orogenic gold

Epizonal orogenic gold mineralisation forms by precipitation of gold from low-salinity fluids at depths of two to six kilometres and temperatures between 170°C and 300°C. These types of deposit are most common in the western part of the Melbourne Zone and in the eastern Bendigo Zone. Most individual deposits are small.

The only major known ore field of this type in Victoria is the Fosterville goldfield (at least 65 tonnes total gold) in the Bendigo Zone. Other epizonal orogenic deposits including Costerfield, Nagambie, Heathcote and Bailieston contained less than 10 tonnes of gold. Typical grades for underground mining vary between 5 and 15 g/t gold.Epizonal orogenic gold deposits characteristically contain submicroscopic inclusions of gold in sulphides within quartz sulphide veins and in stockworks in faults. Free gold is rarely found in unoxidised ores and gold may also be present as aurostibite (AuSb2).The dominant sulphides in epizonal orogenic gold deposits are usually arsenopyrite, pyrite and stibnite. The mineralogy of ores changes according to the temperature of gold deposition. Assemblages dominated by arsenopyrite and pyrite were deposited at higher temperatures (e.g. Fosterville gold mine) than ores with stibnite as the dominant sulphide (e.g. Costerfield gold mine).In Victoria, these deposits are believed to have formed at around 380 Ma but because of their low temperature of formation, the precise ages of the deposits in the Bendigo Zone are unclear. Those in the Melbourne Zone were deposited immediately after the Tabberabberan deformation at 380 Ma, the only major deformation to have affected the zone.

https://www.kl.gold/our-business/australia/fosterville-mine/default.aspx

Let's not forget this is the type of mine we are looking for at Baeliston.. If we find anything close to this, the value is eye watering.. Historic surface mining and some promising grades currently keep us on this potential discovery path.

This is out with Creswick and Tambo which are both potentially huge.

I had been toying with a price target in my head but i really don't know with ECR.. Instead i am going to reassess in a year, see what value is added and decide whether to hold or fold..

Anyone keeping an eye on OMI? I have been watching this as it has similarities to ECR. Newmont providing JV cash, some good grades discovered already and potential for fantastic discovery.

However, it is in Columbia and the market cap currently sitting at £64mill..

It just makes me speculate that with Newmont or someone similar on board for a JV, one more round of good/excellent drilling grades and cores, then it won't be difficult for ECR to hit 10p. In addition, ECR is in Australia with multiple potentially large projects rather than Columbia. Probably could add a bit value based on location and projects.

Just a waiting game...

POW up today 7% at mid price 1.5p.... That makes the Market Cap the same as ECR.

Everyone will have their own opinion whether this is fair value.

If ECR can prove up a decent commercial JORC at Blue moon or HR3 over next twelve months then im sure they would be able to finance to production.. Craig has mentioned previously there are banks in Australia that specialise in mining. Unlike elsewhere, you can obtain funding from banks for this.

Of course there are other 'commercial transactions' available such as royalty sale, JV or back to shareholders for funds..

Answers to be in by 23.10.20.. Does this mean shortly afterwards drilling starts..??? I'll go for Monday 26.10.20 for start of drilling at Blue Moon with said rig name stencilled into the RNS.

Agree this could be huge and the fundamentals of gold running in background could make this even more interesting. Gold could be touching $3000 by next year as the value of money continues to be dilluted.

Lets assume 900mill shares in issue (to be on safe side) and a market cap of £270mill akka 30p SP. Not out of the question and still only approx. half of GGP value.

Need a time machine set for August 2021....

My thought is that PJ needs to get out of ECR and perhaps other similar PLC's as he is a major director in a neighbouring and competing company. RRR/POW have assets on the doorstep of ECR and therefore if he holds a large share of ECR shares then could be accused of not working in the best interests of POW?

This makes sense to me.

Looking forward to some photos cores with visible gold.. My bet is they clip one of the nuggets on the way down at Creswick and its there for all to see.. Might hit the gold room at Blue Moon too.. Terrific that they can keep drilling themselves and chase the gold.. ????

Anyone considered Reg is likely Doc?????? Look at Reg posting history and it correlates with shares mentioned in Docs tweats..

Reg, if you are Doc then enjoyed that podcast the other day and agree with you re POW comments..

Regards todays RNS, i see this as a long term proproject focus on Baillieston and Creswick.. This license under belt for another day imo.