Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I am very hopeful that we at least sell at least Philippines, and I expect a decent return from the R&D return.
I'm actually more confident a joint venture will happen this year as a previous poster said ECR have a CEO who has plenty of contacts.
The only thing I will say is so far everything ECR hold ate from legacy acquisitions from CB and prior. We can only really judge AH on Hurricane as that is what his is bringing to the table.
His experience is what I am hoping gets us out a hole with Victoria and Lolworth, but with the initial lithium finds there, that an amazing development......very much looking forward to further sediment pulls from there
I've no issue with how additional funds may come in, my comment was regards to this:
"Even if we get a Creswick free rise JV we will still need to raise as we will deploy the 2 drills to swiss cheese Queensland or Blue Moon so cash burn will be the same."
That's all I'm questioning.
Dan asked the question of cash burn.....the numbers given aren't speculation or conjecture as was implied - I just don't know how they can be spun as if they are to suit a narrative that myself and Dan were wrong as the info comes from RNS not our minds
If you look at opening prices for the weeks it is £11.5M vs £11.2M, the range was given as I didnt look at hourly to compare.
Congratulations, you split hairs for £0.3M
You have made a very pertinent point, ECR are a worse company in the market than what they were 12 months ago.....offft
The share price the week of the 10th Jan last year seen a lowest shareprice of 1.23p with 1,018,058,551 shares in issue (see October 21 block list return RNS) = company valuation of ~£12.5M Market Cap
This week the highest shareprice was 0.96p with 1,167,737,145 shares in issue (see last equity issue RNS) = ~£11.2M Market Cap
So to answer your smart a$$ comment, I'd be prepared to accept the small difference as the same, but you are right we are actually £1.3M worse off as far as Market value is concerned.
If you actually take it from highest back then and lowest this week it looks even worse, so I gave the benefit of the positive shareprice range.
Enough fact to justify my statement?
It was in the half yearly reports from June 22 stated that the cash position was ~£1.2M:
"The Group held £1,204,289 of cash and cash equivalents at 31 March 2022"
It was also noted that the operational cash burn was approx £550K for that period of 6 month:
"A Group Operating Loss is reported for the six months ended 31 March 2022 of £552,202"
So an annual cash burn of £1.1M. That's purely from the RNS so no conjecture or speculation at all.......
We can safely say that period reported had significantly less activity than the last 6 months, whilst an asset sale of circa £550k was welcomed but was quickly eaten up by the payment of the second rig and increased lab spend would have brought this down to the ranges discussed.
I think yourself and others here find it incredibly difficult to accept the reality of business and think everything is going well.
What we also know is ECR are currently valued the same as 12 months ago. We are literally no better off. Speculation is of course how the share proce will respond on the basis of the companies future performance.
So that being clarified, if I'm asked a question by a person on this board, I will endeavour to answer it as best I can. Your opinion of me means nothing to me or fundamentally the ECR valuation.
Your post tells me everything I need to know about you.....head in the sand and hopium
Superwoofer your opinion of me doesn't change what ECR are doing as a company? You still can't present and data or facts to suggest what is being said is wrong.
Whether I am narcissistic or not is irrelevant, but you and vast majority of others can't present any data, it's simply copy and paste of "happy clap" drivel.
Since you are such the psychoanalyst, please explain why people struggle to present facts instead result to personal attacks.
Whether you name me specifically or not our interactions together have been negative, that said any negative post of mine is aimed at me, yet you don't have the minerals to just call me out specifically - you would rather p!$$ in the air and say its rain.
I will name you specifically as one who doesn't present any data to back up what their opinion is and tbh you just waffle - youre certainly not alone on this board, but your aiming to me specifically with nothing to counter me is just trolling
TS could you also clarify why you think cash burn won't increase?
All our current spend is based on 1 drill crew, 1 rig, and 1 set of cores from that 1 rig.
It defies logic to suggest that 2 rigs running simultaneously can produce the years same spend as one, is that fair to say?
Superwoofer now resulting to personal attacks because they don't have anything to say that can counter the cashburn question.....standard practice on these bulletin boards.
TS you do like to see things on the optimistic side, and yes there is nothing to worry about immediately but can you show us why the cash in the bank we have now can last until 2024? Or is that just personal feeling?
Dan, I don't think there are any royalties coming from any NSR
Just as a further point to those who say "a broken clock is correct twice a day. This is what I said in July:
Gino2903
Posted in: ECR
Posts: 1,265
Price: 1.00
RE: UK Visit 06 Jul 2022 11:24
"It's to beat the ECR drum and Stoke up support for future placings, nothing more nothing less.....if they get to meet and greet a few shareholders, to give them a cuddle it's a bonus."
Gino2903
Posted in: ECR
Posts: 1,265
Price: 1.00
RE: ECR 08 Jul 2022 18:16
"Fund raising will need to be started in the next 6 months (at least putting the feelers out) unless we can make significant bank by asset sales and or warrant excersices."
Doesnt matter if you like it or don't, it's a calculatible valvue based on cash burn, taken from company accounts and cash balance statements. Conjecture it is not and until you can prove otherwise your posts continue to be non-sense.......I'm still await for proper rebuttals to cash burn issue instead of just "I don't agree".
Based on the fact they raised when they did, and a cashburn at circa £1.1M a year, after that rig "repurchase" or "balance payment" less that 250K.
My hope is that in the next Q, we recieve a development rebate from the government's which should top up the balance book.
JV vital or raise again in 6 months, especially now a 2nd crew will be hired to drill Queensland....bring cash burn up to closer to £1.75M annually
Again if someone can present evidence to change my mind I'm all ears
I seem to remember Adam say that wholes 2 and 3 were 250m to the west of RC drills. That's further away that the last reported hole that was 150m.......so further away from "ore body"
They have already promoted us by saying they are testing the extension, then infill next stage
Unless they hit a 2nd "ore body" its another small narrow veins by the language they used. As I said previously, regards to why they never fundraised after news, most likely the pot would be empty cause they know the extensions are their but aren't commercial.
Anyone on this board, I beg you.......prove I'm wrong in my calculations
To be fair that was the excuse years ago, they said they had full access and first 2 holes would twin 2019
Ore body is a nice buzz word, but don't be surprised to see 0.3m @ 7g/T in these results, they are drilling away from the "ore body"
Logically Blue Moon results aren't going to blow any doors off. They are testing extensions and the next results are from holes further away, not in filling.
The "heat map" isn't getting drilled to the 2nd stage, where they will twin 2019 RC drills. Something else needs to come in as blue moon will be flat like the last results.
The question is why are they not doing the twinning first as they said they were, not impressed by it as we could of avoided a 100M placing and clear overhang quicker
I'd suggest both Colin and Phil (possibly the Chinese too) took the placing as part of the 33M that wasn't done through broker and raised within the company.
The price dropped from c1.3p from the first of the "event" which is when they met again to agree the placing.
The big chunky sells that mental is referring to, some folks on here got backlash for, and seems to suggest that they sold what their allocation was......hence no TR1
This is the common known practice of forward selling....which is not illegal as some uninitiated suggest, just a but back handed. To be fair I'm only invested for me, so others will be too
Mental, based on what you just said regards to the licences suspending talks that is exactly right.
However, I'd suggest we need the joint venture hype, for one it will help shift the placing overhang that is holding this back.
We need approx 60M volume of sells to clear it so anything that gets volume up is good in my book
Just some thoughts:
1. How long is a piece of string? To be fair with a second drill rig it can be expedited, but certainly needs a tier 1 or 2 to partner, licences are too big for up.
2. All 3 Creswick licences granted (including renewal).
3. Youre are bit late to the party mate, see my posts from yesterday.
4. Nothing has been mentioned. I'd suggest that we will not be successful for a couple reasons. The major reason is the mine owner next door has a stake in the contest. On the merit system applied by the Victoria gov, I'd suggest we are the 2nd inline to develop the land. To be fair, if DMS is our target, this offers less bang for buck.....I'd prefer it wasn't successful