Member Info for Legalwolf

Only a short matter of time now and we have PLENTY of time to fill it. We are trading in the 0.45p to 0.55p range and ECR are clearly stepping up their comms. I'd say these are the last few trading sessions to get in below the gap and position early for the Hurricane drilling. If there have been large buys in the 5s, then what do you think will happen to any remaining stock in the 4s?

Just look at the overall volume this week, and the fact that the bid has almost doubled. It doesn't take a genius to work out that Hurricane IS the real deal in terms of creating some upside in the share price and return of buyers to ECR. We are witnessing this right now and 6-8 weeks before drilling actually starts.

Does anybody now expect us to still be fighting this gap, or be at these levels in 6 weeks' time?

Mental - we've had months of trolling and they are still at it, so I say ramp away, but in any case, I agree that this is turning into a stinking buy. And looks like there is some large money that is also agreeing with you, because another 1 million trade has gone through.

Lots of buys in the 5s todays. Just been offered the highest bid in weeks on a dummy sell as well. CresWick, Lolworth and Hurricane still going for what could soon be a bargain 0.5p.

Interview tomorrow, to take us into a strong close and our first 'you wouldn't want to be out of this over the weekend' post in several months?

"The Board’s primary focus is on building the Company’s North Queensland exploration assets at Lolworth and Hurricane. Nonetheless, Creswick is still considered an key asset within the ECR portfolio."

How can this portfolio be worth 0.5p? Ridiculously undervalued right now, compared to most other juniors. Hopefully, this is all about to change and the market will start to realise it.

It looks like AH will do some media as well by the sounds of it? QLD is his vision and he's not going to miss out promoting it.

Are these the gold shoots that are each worth around £20 million and easy to mine?

“l look forward to reporting further findings from our asset portfolio in the coming days and weeks.”

A good point sdg1970. We would have launched this move from a much higher starting point, had we not had the comms blackout and then that rather (imo) dubious Friday RNS. As it happens, we launched from 5p with a gap opening following the Monday RNS. By Friday we had hit 10p. That's a huge move in just one week.

I would have thought that a large move like this, in any market, is going to need some time to digest. As we can see, a LOT of profit taking has occurred already during this first leg. But so far, we remain consolidating at the very upper end of this first leg, with buyers taking the supply from the first leg profit takers. We are still very much on trend and in a bullish consolidation pattern, that is is getting ready to break to the upside, or at least, the odds favour another move to the upside.

Where I don't agree with you is that the next move up will be necessarily be news driven. It might be triggered by news, but I think it's likely to happen regardless, once this consolidating is done and we get a breakout. Not everybody buys on the news, and many get in beforehand. All imo and dyor.

It looks to me like Snip and Luca are now doing a tag team trolling effort to stop the current momentum, by starting and continuing a discussion about placement. As amateurish as it is pathetic. Come on fellas, do better than this?

All imo

Yes agreed. I also did a dummy sell in response to that post and was able to sell.

It's a good sign thought isn't it to get rumours and FUD? Shows that a genuine share price rise is very much on here, and 'they' are now rightly worried about it. I hope we get a good interview tomorrow and a strong close. Once 0.5p is in as the bottom, then expect the buying volume coming in to be even stronger.

Maybe we should start a rumour of a short squeeze? After all, there's truth in that if there is a short on. All imo

I wouldn't worry about it. False rumours are commonplace at times like this. If you have any evidence on the other hand, which contradicts what AH has already told us, then do share it on here?

I noticed that you started a thread on 'placement' yesterday as well.

Yes, rumours and FUD are all part of the game. ECR is fully funded for the Hurricane drilling and AH has confirmed that on more than one occasion. I don't think its shorts, but might be an attempt to try to get as much stock in the 4s before the inevitable filling of this gap, and the interview tomorrow. All imo and dyor

As an ex LTH, I would say that a recurring theme with GCAT has been for it to promise one thing, but then deliver something else. Last year it was 24koz by year end, and non-dilutive finance. Ended up delivering significant dilutive finance, which they didn't even bother revealing to the market, and requiring emergency funding to keep the lights on. There was also lots of selling going on in the background throughout most of the year.

This year's yarn is the discovery of a new high grade gold zone and looking once again to secure financing for that 24Koz expansion, supposedly with lots of interest from potential financiers. Instead of doing as many interviews, it seems that the approach is to rely more on twitter comms.

What has been delivered so far? Has anything materially changed? Is it another year of smoke and mirrors, or is this going to be year that they actually do deliver what they say they are working towards?

It's a question of whether you trust the company and its BOD (what's left of it anyway) to do that? If you do 100%, then you will be happy to hold/buy, and be enthused by the tweets. If you don't have that 100% trust, then you will either want to wait for official and confirmatory information in RNS, Quarterlies and the Prospectus, or not wish to touch this at all.

Where you are on this trust scale, and your attitude to risk etc, will then determine how you feel about GCAT overall.

I'm in the 'once (almost) bitten, twice shy' camp, so will wait for and only act on RNS, and not what is said in interviews and/or twitter. But I respect the fact that others feel differently.

I've lost count of the number of time this has been said about GCAT, but the next 3 months will reveal whether it's another year of overpromise and under delivery (aka smoke and mirrors), or finally putting the company on a proper financial footing to then deliver on its 24Koz at Kili, continue its exploration at VR and TZ, and achieve its promises. All imo and dyor

Expect more of those TS. Looking at the chart, i'd say the key levels are 0.5p, 0.6p and then 1p. Once we close above 0.5p, it will give us a floor to buy from again. From that point, I'd imagine getting from 0.5p to 0.6p won't take all that long?

Then given the newsflow coming up here, the several weeks lead in time we have to Hurricane drilling, and with ECR maintaining their positive comms during this period, you can definitely see the potential here for a move towards 1p. All imo and dyor.

Looks like last remaining stock in the 4s to be hoovered up. Interview tomorrow, and hopefully a strong close to the week? GLA

Decent base building in the 9s. Looking for bid to tick up to around 9.5p, and then a retest of 10 is very much on. Hopefully given the duration of this consolidation/base building, and the fact that we've already tested 10p and taken a lot of the supply up there already, this time it will break through, and then close in double figures. Only question left now is whether this scenario will play out tomorrow, or whether we continue to base build into next week? All imo and dyor

Yes looks like the start of a Hurricane here. 1p incoming over the coming weeks?

Interview should land on Friday? Looking forward to it now. Roll on ECR

Agreed JC - better to get everything in order and then have a Prospectus issued. With everything happening at GCAT though, this might mean they won't be ready to issue the Prospectus until much later than we think. All imo

KR - i'll go wherever the action is, but just started on AIM with the junior minors and got lucky catching GGP at the right time a few years back. Therefore, its a sector that I just paid closer attention to than others. Problem is, there's so many junior explorers on AIM, that it's hard to keep up!. I'll take a look at Horizonte though.

Re ECR, might be worth scaling into it, or waiting to see if it fills the gap. All imo and dyor

KR - it's a typical AIM junior goldie. Therefore, it's been beaten to a pulp in recent years and has been down trending with spikes. But all of the negative newsflow is out, and the company is being re-orientated away from failed projects in Victoria and onto two cracking sounding projects in Queensland - each one a potential company maker. ECR is doing sampling work at the first project (Lolworth - covered in today's RNS) and will be maiden drilling the second project (Hurricane) in September. It is this sequence of events that is causing the share price to stir back into life.

IF it closes the gap at 0.5 and stays above it (i.e. properly closes the gap), then I do think there's a good chance it will rise further in the run up to Hurricane drilling. I've said 1p, but that is probably the blue sky target tbh, but even from 0.5p there should be a decent return in it. All imo and dyor

I didn't expect ECR to move so soon. Once it closes the gap, a move towards 1p into Hurricane drilling is very much on. Likewise if they announce an asset sale is close.

Game on here then, like a lot of us were hoping/expecting would be the case from AH re-orientating us towards QLD.