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ECR are spread to thin....said this 6 months ago. Queensland and Hurricane shouldn't be touched unless they can be funded by Philippines asset sale.
900K won't go far if we fund everything ourselves and burn rate will accelerate to £2M a year very quickly
Been very noisy in here past few days.....
As far as the title is concerned I am more optimistic that the next 2 holes (which are now really infill) will be more appealing to the market cap.
The extensions are non-commercial, however if the main core (which is expected to be around 100k Oz) is mined after a JORC is inplace, it won't cost mega amounts to extract them.
Certainly from my point of view the board have made a complete f**k up of the placing by not drilling where we were told they would, but the next holes will have approximately 10-15m at +5g
Blue moon is the closest thing we will have to a JORC in 2023
First RNS:
"MGA has recently signed a contract for the purchase of a new Cortech CMR1000 multi-purpose drilling rig for a total of US$402,957"
Second RNS:
"Purchase complete"
Seems it was never necessarily paid for when contract signed, more like a promise note, potentially as it wasn't off the shelf spec....speculation of course.....was it ECR or Chinese, we will never know.
Rig has probably been built on payment completion so takes time. Of all the things that annoy me about ECR just now, this second rig isn't even on the radar tbh
Well maybe if they did what the said they were going to do 6 months ago they might not of fired a 0.9p placing up our chocolate starfishes.
This was entirely predictable and I said result would be poor, that's why they didn't wait tol after the results cause they knew what was coming.
Proof they are still making the same mistakes...even with AH at the wheel, or maybe he's not steering it?
Why say the first 2 holes will twin 2019, then go off and do extension work 250m from "heat map".....something isn't adding up
Gino2903
Posted in: ECR
RE: Why 05 Jan 2023 18:02
"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"
Seem to be calling this right every time although didn't even get 7g lol, people just not getting ot I don't think
After seeing so many filtered messages I thought I'd read what tamer had to say.....yup still B.S.
With regards to forward selling, you have made a fundamental error in the situation comparison hahaha:
Cornhill Captial got done because they were forward selling shares that they didn't have assurance to own......the placing was conditional on shareholder agreement.
When ECR done the placing it was unconditional, so the placee(s) had the shares coming.....no agreement required.
Honestly you need to give up, utter fuddery
I'm putting my nuts on the line......the next blue moon results will do nothing major to SP, if anything at all, there might be a narrow extension at best
For some reason it appears the team are too scared to drill the main strike zone
ECRs highest valuation was £28M @ 4.4p
Based on today's shares in issue 2.4p would have the same market cap.
Entirely possible but sentiment will have to match that of back in the JV ramping days.
ECR need any sort of commercial find and it will see 2p rapidly, on the other hand if it doesn't get that........
Talking Sense,
I don't know what I'm getting accused of as I said I muted them. So I'm accused of having two logins? Cool story
Annoyed?? Nah, I dont care what the animals at the farm think......I'm a narcissist afterall
WTF am I getting accused of now?
Is it the standard:
"Gino isn't invested"? - proved I am
"Gino is shorting" - still waiting for proof if any short can even be opened in ECR.....but the first point cancels that theory out haha
Standard p!$h from the traders.
Since i can't read my name mentioned in anyone elses post, it's clearly from the smegma, know as Tamer.
The person who is in the mute bin because they have been proven haven't got a clue what is going on.
Simply waiting over here, on the sidelines, for blue moon extension results that the traders expect to be bonanza.......bring it on
I'm guessing the reply is a dig or waffle? Yet still showing absolutely no evidence to how a short is even possible on ECR??
They simply have no idea and throw one or two buzz words that other posters have used and repost it.
I await several posts in quick succession, with 1 or 2 incoherent sentences in each, as proof of further waffling and no backing up
They are just an idiot. Don't even understand the fundamentals of a placing nebermind the fundamentals of a company.
As far as shorting concerned, I'd love them to show me one company that has a short open in ECR? Or even a company offering futures in ECR hahaha
This isn't a blue-chip (Tamer that means a big company.....Google it) but to be honest the calibre of their posts suggest they made such a fundamental mess up of understanding the difference between forward selling and shorting, they don't quite get it
In fairness to Adam ( and I have certainly made my feeling clear about him), if the targets he is drilling are non commercial, he doesn't know til he drills.
HR3 should have been stopped months prior but that was during a period of poor CEO leadership then a subsequent CEOless (rudderless if you will) ship.
It seems blue moon seems the only real target in Baillieston, yet them seem intent on testing non commercial extensions instead of going for the most likely "moneyshot".
If this is Adam decision, its very fitting, his creation of worth comes second to his love of geology