The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Investors will take it very badly if a placing comes next - AH have literally just said "funded till the EOY", trust and credibility is already at bottom...if anything we need an injection of stability and confidence.
"What do you want AJ to do wave his magical wand and put the gold rich veins in the ground or better still hit the mother lode? "
I'd expect him instead of sitting on interviews saying bs about "amazing grades" "potential" and "eurika", to actually say to the CEO when there is FA there it is best to explore elsewhere. I'd expect much better commercial awareness from my cheif geologist.
AJ is a director in the company - can't simply get rid...I agree he has failed to deliver for us shareholders and that he is one of the main accountables for this situation, once we had a great position - time and money, AJ got excited by geology that is meaningless for the company, zero commercial value, I can't forgot his 'eureka' interview he gave a while ago, building false hopes and expectations. Like many others investors, I am underwater (bigtime), but my main problem is that at the moment things are uncertain, difficult to find a clear strategy for making this company a success with our balance sheet - my main positive is that I beleive AH is the best man for the job.
I recon we get volume soon enough, potentially towards end of year, it becomes increasingly apparent gold will get strong traction at some point soon. As for the 2nd drill I do not know what it could yield us if leased, personally I am not a big fan of this option as fundamentally we are a mining company not equipment leasing company so I would prefer to have it in use for us, I do however appreciate that under certain circumstances it can make financial sense to lease it and offsets the revenue it makes agains some of our operational costs. One very important observation on my behalf is that I fully trust our CEO to utilise this second drill in the best interest of the company and us.
Don’t know about bottom - I surely hope so!
Among all the negativity and poor sentiment we get recently, one positive thing is that technicals do suggest we have found a new support level and we get buyers whenever we drop under .6, let’s indeed hope we have dropped too low and it will fix itself with or without news next week. Those small sells toward closing are definitely timed to try and artificially lower sp and scare investors away.
Other than the usual lack of excitement, my only guess it that market estimates the company may be required to raise cash in the near future - which it can be mistaken (or not), fact that we have selling pressure at these levels is bothersome.
Our CEO recently mentioned that we are a good deal at 1p - we are a better deal today!
I would expect CEO or any of our boards members to take quick corrective action and explain to the market company's position with regards to cash. company have lost nearly 25% mcap in the last 6-7 days.
I'd estimate ECR's existing cash position at current cash burn rate (with no income) should comfortably take them to late 2024, possibly 2025. In fact ECR is one of those rare explorers where it is worry free to operate as it see fit. simply wall street bot needs to be punished...
lol...really? simply wall street is simply lying (or lets say, inaccurate...), what a load of BS - guys - READ the annual financial report only published 2 weeks ago. cash burn rate is NO WAY NEAR 4m, company total loss for 2021 wad 1.5m and I am pretty sure that was including purchase of assets. overall assets values at 7.5m. someone will have to fix this article because it is simply wrong! oh wait - they have probably already made their money from it.
@mentalmax I wouldn't read ‘Continues successfully’ in the context of results but actually in the context it was written - drilling, so I think this is more to say that the drilling process, timelines and targets successfully continues - e.g. no impact due to Covid or any other show stoppers/delays - a positive update / neutral news.
It was because of the placing and somewhat underwhelming results of first 4 holes - if you ask me, below placing price is a bargain, gold price gains momentum plus first positive update this thing can fly fast. regardless, my assumption is with or without news it shouldn't take too long to correct back to 2.2.