Member Info for Legalwolf

That's because they are nearly always "jam tomorrow". In these market conditions, the jam has to be more imminent in order to have a more imminent impact. If the share price is already moving up, then the jam tomorrow RNSs keep that move going. Everyone is enjoying the ride and happy to continue adding. A happy and rampy consensus and psychology develops. In these market conditions, the jam tomorrow RNS don't work. You need something a lot more significant and imminent to get things going. A less happy, tired, bruised and weary psychology develops.

Hopefully, the market conditions will change, its just a case of when. All imo and dyor

Mental - I was thinking exactly the same. Notrex claims to be a holder, but at EVERY opportunity, he appears to stamp down on anything positive. The other 'tactic' appears to be to constantly clog up the BB with the barbs aimed at Tamer,

I have to say, I do also wonder about Tamer's role in all this as well. Tamer seems to be as guilty of this approach as much as Notrex, and therefore I remain very suspicious about their 'independence' from each other, and wonder if it's the two of them acting in concert, or multi nic accounts?

This BB is mostly trolls and orcs now.... all imo

I'm going to start scaling back in here. The share price has been beaten down and is starting to represent potential value again to me. I see only positive newsflow coming up here in Q3, in the form of results from Lolworth, followed by commencement of drilling at Hurricane. In and amongst this, we might or might not get further positive updates on the sale of the property and/or the Rig.

Lolworth and Hurricane are potential company makers in terms of their scale. Therefore, worth a punt at 0.3p and a decent strike at either then opens up (multi) bagger potential.

Even if not, with these AIM stocks, the lower down they go, the quicker and easier they "can" (not "will") bounce back. So for example, a move from 0.25p to 0.5p, can happen more readily than the equivalent move from 1p to 2p.

Each to their own though, but after very careful reflection and taking all of the very valid negatives into account (which I think have been priced in already or have had their beating down impact), I think these levels represent potential upside again. So I'm going to start scaling in. GLA

Let's be honest, the comms have been absolutely woeful. IF they have been making good progress with the Rig, as well as on the ground at Tai, then the absolute lack of any comms is inexplicable and bordering on self-sabatoge, or at least (retail) shareholder-sabotage, by aiding them being shaken out - as many have been this past week by the looks of it.

But we are a fickle bunch, and all will be forgotten and forgiven in an instant if or when that RNS lands. And then we will be rushing to buy again, and thereby feeding the very hand that shook us in the first place.

Laws of the AIM jungle I guess? All imo and dyor

All it takes is a bit of FOMO. The trigger for that could be technical or fundamental. Once that first sign of upside is seen, then it changes the sentiment and the psychology. There’s a reason why most are hanging around battering the stock. Not all are LTH victims.

I made clear that I came back in for CresWick. That didn't play out as I expected. It happens.

This is an all together different play/situation now, and so I analyse it afresh. And it will look tastier with a sale...

Notrex - I have my eye on one thing only, and that is making money from the share price. So long as my holding is in the blue, that's ultimately all that matters. Here today, gone tomorrow...

The sentiment and psychology here is not about the cash position as such. It's more about whether we have one more drilling campaign left before we have to raise. And if we do, then whether the results of that drilling campaign will mean a raise at higher levels or lower levels. Given AJ's history of not finding the gold, then you can see why people think its a gamble with the odds stacked against the favourable outcome.

But if ECR could generate cash from second Rig or the third Property during this next quarter, you then have the prospect of further drilling at Lolworth and Hurricane before any raise would be needed, and if so, then it all seems less of a gamble and the odds start to stack up differently. Anyone of the three drilling campaigns (Hurricane 1, Lolworth 1 or Hurricane 2) that might then be budgeted for in such a scenario, could generate the results to reverse the share price decline, and which then make the placing less of an issue. These are projects with MAJOR potential (a lot more than the Victoria ones) and so a strike at either of them would be a major inflection moment/point.

So it's still game on here I think, and especially from these floor levels. All imo

TS/Dan - that's sort of what I am thinking and where I'm going with this? A sale of one or more of these assets, and suddenly the financial landscape and runway looks a lot better?

We still have MIDAS remember, and so our drilling costs aren't going to be as high as for other explorers. I'm not saying this will happen, but what if tomorrow, ECR informed us they had raised £500k from sale of assets (taking the lower estimate). That money would then fund another drilling programme after Sept, at either Lolworth or Hurricane again. It would be a strong BUY signal, because we then have more throws of the drilling dice?

Therefore, are we all (myself included) overdoing and overkilling it with the negativity and doom and gloom here? It seems to me that a RNS could land about a sale (or pending sale) which could (I believe would) reverse a lot of the damage, and restore of the belief. All imo

I did Mental (and also several of the other negative points) and still maintain them, but we can't just endlessly keep on discussing them and ONLY those points, and there should be room to discuss some aspects which can be discussed in isolation.

One of those, imo, is how much we are likely to get back from the property sale and the Rig. £1 million, £750k, £500k...?

Enough to fund additional drilling in Queensland beyond September's (which is already budgeted for) and reverse ECR's 'fortune' here (literally and metaphorically)?

What do people think we can realistically expect from the sales of the Victoria property, and the second Rig? What's a likely amount that ECR can recover?

I hope this is something we can usefully discuss, without it being hijacked by more talk about the poor performance of the share price, the BOD, their salaries, the failure to discover anything, the lack of money, and all the other negatives. Anyone who hijacks with such talk, when there are plenty of other threads to engage in such talk, will just be viewed more suspiciously by me when it comes to trolling activity or de-ramping for their own purposes.

I think PJ at POW said something about early tailings revenue at their Tati project. It never materialised and in fact not heard any more about it since. I hope this is more genuine, and isn't going to be a case of taking something from the book of ramps, and adopting it for KAV.

I do think it sounds genuine.

Do we think Zimbabwe is reason that PB have invested. Or is their interest more to do with Botswana?

Totally agree - and have been saying as much for a while now. Whether or not shareholders here agree with it, or think its an unfair and premature assessment, the bottom line is that the market is simply not buying into these MOUs, and I really don't think it ever will until some binding agreements land. They are often used as devices to try to generate some interest in projects and after a while, (most of) the market sees through them. I have heard AIM CEOs who don't use this approach describe MOUs and LOIs as "worthless".

Naheed is fast turning into, or is well past the point of, "the lady that keeps crying MOU" imo. And the reason why these MOUs are seen in this way is because there is no timeline. Therefore, you don't know how the MOU fits into the overall plan, and which MOUs are going to come next. For example, NONE of the MOUs that have ever landed have been predicted, or are predictable. Rather, they just come out of the blue and are random. And then once they land, you don't then get any follow ups about them. You are not told, for example, exactly what the MOU partners have been doing since the signing of the MOU. Exactly what work ORCP have been doing with them, and on what, etc. It's almost like there's a signing ceremony and then that's it. Onto the next one.

If all of this scepticism is unfair, then Naheed is missing a trick. What she should be saying in her investor webinars are things like: 'since we signed the MOU with X about the GH project, X has been progressing Y, or we have been progressing the following with X, etc, etc'

I also think it would be good to hear more about the 70% funding going into the project by the JV partner. Is that funding being provided, how much has gone in, what has it been used on, does is represent any element of 'free carry' or 'financing' for ORCP, etc. Also, it would be good to hear from other members of the BOD? At a recent webinar, there was a question about what exactly do the others do, and it would be good to hear from one or more of them, to give some confirmation and support to what Naheed is saying.

Yes it needs binding commitments, ultimately, to move the needle, but I do think the BOD, starting with Naheed, need to up their game in selling and explaining their MOUs, and the progress they are making more generally. They need to start talking timescales, rather than some open ended process, which is non committal or indicative of how long they are going to take to deliver "value" to shareholders. Hardly any investors are going to jump on board if they have no idea when the jam is likely to be delivered.

Put differently, even if the above is unfair or incorrect, the bottom line is that the current strategy is NOT working with the market. And so the BOD do need to change it, otherwise they can't expect a change in the market's reaction and hence can't expect a change in the share price peformance/trend. All imo and dyor

Right, I'll take it that these emails are some kind of joke between you lot on this BB then.

Has to be a large sell at that price? imo

None of the Directors took shares on this placing. Why?

Sorry what emails, and what do they suggest is lurking?

TS - I'm not happy with everything that is happening under AH. Rather than look at salary sacrifice, they have chosen instead to scale back operations and sell assets. This smacks of protecting themselves first and foremost and not willing to take responsibility and accountability for poor performance. And it feeds into the lifestyle company narrative.

Having said that, it would be mildly amusing now if AJ bought shares for example. Finally, a sign that he was backing himself to actually find some gold. All imo

Not making comparisons between them as companies, but just look at PRD as a current example/illustration of what can happen with such drills. Share price has gone from circa 5p to circa 13p (and will likely rise further). PRD have also had some placings (and hence overhang to clear) during this run up.

So there is still strong interest on AIM for the right opportunity. And as others have said, and I agree, there won't be many, if any, more exciting and closely followed drills on AIM this August/Sept. But we need that Rig RNS to fire the starting pistol!

I'm not worried about TIME. Firstly, I still think both companies have sufficient time to spud in Q3. Secondly, I honestly don't think NHE are absolutely hellbent on drilling their second target in Q3. When they did the placing, they initially came out and said one well in Q3, and then reverted back to two wells. Then they mentioned retaining the Rig for further drilling next year. Therefore, I think they are more flexible and fluid than we are perhaps. Remember, if they make a discovery in their first well, they are anticipating more than enough Helium from it to be a company maker. Same with He1 and Tai.

The issue is more the ~"time" it is taking to issue this Rig RNS, but even then, I would say that next week before I would start to get anxious about that.

From where we are now, there would no better reversal rocket RNS than one saying not only that Rig contract is signed, but also one that speaks about Rig being shipped and on its way to Rukwa. This time round, we won't have the same lead in time spud that had last time round, and I would hope that will make for a more rapid and explosive move in the share price, that we will soon forget the trial and tribulations we have had to endure, including the recent radio silence.

That's the hope anyway. GLA