Member Info for Legalwolf

I agree with other posters, the purchase of the Rig does actually make the de-risking question a lot more interesting. If the company are now likely to drill multiple holes, whether in Q3 and/or beyond, then you are no longer having to de-risk on one single hole anymore. You can actually hold for future drills as well, rather than it being a boom or bust type of scenario on one drill?

Yes, I'd say a push towards 10p is very much on for tomorrow. We are still in the first week of the Rig announcement, and so there is plenty of time for the share price to rise into spud, and plenty of newsflow to come in that period. Therefore, plenty of upside to be had here, and that's no doubt why folk are rushing in now to position early and take what is left of single digit stock, before this inevitably gets into double figures, which at this rate, is only a few trading sessions away by the looks of it. All imo and GLA

We don't need a 30% rise to happen in a day, but we CAN realistically expect it to happen in a week or couple of weeks. This happened during Tai 1 and so far, it is happening again for this campaign. It's a rise in the run up to drill, rather than on specific days or weeks which is what ultimately matters. All imo

If you filter, it makes it so much better. You don't have to engage with the agenda led posting or read any of the drivel. A troll can't operate as effectively unless it is constantly fed by other posters (or trolls) replying. It will then resort to getting one of its buddy trolls to reply to it, or create a second account for this purpose.

If a troll has been found out, it should be filtered. End off, otherwise this BB will not return to any normality.

For those of you invested in ECR and wanting it to do well, you should be filtering/ignoring the trolls. Especially with Hurricane coming up as well. All imo

I doubt very much whether in these jurisdictions, unless you are willing to engage in brown paper envelope type diplomacy, you get either a quick or speedy result. Whilst there will be some honourable officials trying to do a decent job, somewhere in the chain of command, there will be other rotten apples. Not suggesting that CMET engage in such of course, but it must be very frustrating for them to operate in such a jurisdiction, where you can get a licence issued and then have it suspended out of the blue.

One question that I didn't think about, but is actually really important, is what is going to happen to the proposed JV. The parties had until end of July to turn this into a binding agreement, but it was subject to the licences being reinstated, which doesn't look like its going to happen within that timeframe. Did they say anything in the meeting about extending the deadline for the JV agreement?

I thought we would get to 8.5 by close of week. I now suspect we will hit double figures by end of trading on Friday. That will happen eventually anyway, but good to see this continuing really strong price action. GLA

Can I also add that a certain troll is also posting false information. On the day that I bought shares, the troll informed you all on here that there had been no buys that day, and it was all sells. Not true at all. There HAS been buying 'under the hood' at 0.3p. Maybe its the shorts that are trying to close out at the best possible price, before a possible buying Hurricane arrives in town? All imo

If not tomorrow, I think definitely by close of play Friday?

When those who have had enough are done and out, I'm thinking this might be a good candidate for a bounce back.

Especially if the financing is still going through at 1p. KSZ was the least probability target, and so all they need to do is announce their plans to target their higher probability projects, whether KCB, Ditau or Zimbabwe, and it should bounce back from these levels. Or at least there's definitely some upside to be had from here you would have thought? All imo

We've had this kind of price action all too often here now, for it to just keeping being a co-incidence? When you consider it alongside the trolls we have on here as well, then Superwoofer might have a valid point. All imo

It's all about people's expectations and anticipations. One we close above 8.5p and it forms a support level, it then brings the next level of 11.5p into people's expectation/anticipation. Close above 11.5, and then you have the next level in sight.

And so on and so forth. These things tend to fuel themselves and if the company goes on a big drive to promote the drill with its comms, then that will bring in new money as well. Of course, market conditions also play a big part. It's probably good that we have a bit of a run up to spud, as it might well allow for a steadier and stronger move up the levels, rather than the more volatile action that is common place. So whilst it's a bit early to start thinking of pre spud high, I would have thought it will be much higher than 12p for sure.

We only had the Rig RNS this week, fantastic reaction so far, and there is plenty of time to go. I think we might well test 8.5p this week and I am looking forward to see what Friday pm brings in particular, and where we close for the week. All imo and GLA

I'd be happier with a slower and steadier climb, taking liquidity at each level on the way up. I don't think anyone is getting any shares at sub 0.3p now, and so it's now a case of getting what we can at 0.35p. Don't think this opportunity will last as long though as you always get a greater sense of FOMO and urgency on the way up, than you do in a sideways trading range. But definitely signs of some upside to be had here from the upcoming activity at Hurricane. Lolworth samples and Rig/property sales will also represent a Brucie bonus... all imo and dyor

Could be something in it. Having purchased the Rig, you would think that they might want to maximise the time that they have out in the field so to speak? That would be much more time and cost effective than having to re-engage and return at a later date, which means rehiring the third party services and the drilling crew?

When they designed this drill programme, they likely will have done so on the premise that they would be hiring a Rig and paying iro $7 million per hole (the figure that NHE put out recently). The costs and scenario have now changed, so maybe they are revisiting their plans? Either way, I am sure they will confirm soon.

I'd say last chance to buy sub 0.35p. It's all likely to be positive news coming up here for the next few RNS imo. Lots of buys have gone through under the hood here as well. Time for lift off?

ECR are gearing up for Hurricane. AH sounds genuinely excited and expectant:

"This is a project that I personally have detailed knowledge of and am vested in through work undertaken prior to my joining ECR as CEO. Our plan is to get boots back on the ground next month in order that we can firm up what the historical data, early fieldwork and the LIDAR findings have led us to believe – which is that Hurricane is a later stage gold and antimony property with exceptional near-term development potential.”

Thanks Wyn - appreciate the response as always.

Thank Wyn and fair point - would you say this is looking good for a test of 8.5p?

Excellent on the comms so far. I do hope that LB does more interviews and across different outlets, not just Proactive. The company is emerging from an 18 month struggle, and there are lots of new investors to be had I suspect, and banging the drum across different mediums will reach out to the widest audience. I'm sure she will....

I would definitely want to ask why comms are non existent, and show lack of care towards (retail) shareholders. Will this change going forward?

When do they expect to resolve the licence issue and how? i.e. are they confident of reaching a solution with the authorities or is it likely to require legal action, and if so, how long and costly is that likely to be?

8.5p is indeed a key level, and I can see us testing it this week. If we hold above it, that's a really good sign of strength.

As for using the RSI to indicate overbought or oversold, at this stage, I am not so sure how much reliance I would place on it, if any. Two main reasons:

1) In a nascent trend, the RSI will often remain at elevated (i.e. overbought) levels for a prolonged period (cf Martin Pring's book on TA).

2) If you want evidence of 1 above, look no further than the RSI during previous the rise into Tai 1 drilling. It was at extremely overbought levels for most of the move from these levels into the 20s.

All imo and dyor