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Dai - I recall DM saying in two separate interviews that the Rig market had softened and that since the announcement, He1 had been contacted by Rig companies. Moreover, they are fully funded and drilling only a single target, so I don't see why they won't get a Rig or why they need to lie about it. Anyway, I would imagine that Lorna will carry more confidence and trust, than maybe DM did with shareholders, so let's see what she has to say on Wednesday. Each to their own, but whilst some folk continue to worry (unnecessarily imo) about the Rig, others are seemingly busy picking up the cheap shares. As well as the uptick in price, volume also picked up, and I would imagine it will be the same tomorrow, but let's see. Not long to go until the AGM. All imo

I remember that JV pump really well. It enabled ECR to raise £2 million in a placing. That money then allowed them to make the 3 property purchases, which came out of the blue, and also this second Rig. I believe they renegotiated the price down for the second Rig after AH arrived, and wonder whether that means they were going to overpay for it previously? Who knows, they might well have overpaid for the Midas Rig as well.
Anyway, little point worrying about Tang. He isn't go anywhere, based simply on our dissatisfaction with him on here. Neither do I think AH is going anywhere, as he's been very instrumental in ECR's most recent project acquisition and looks like he is here for the long haul. But he should have a seat on the BOD, and when he was appointed, they said a further update would be provided on his appointment after 6 months, and I don't believe it has been provided?

To be clear, I am NOT expecting them to be making a Rig announcement on Wednesday. It's only been 6 weeks since they lost the Exhalo Rig, so its far too early in the process to be expecting them to be ready to announce the replacement Rig option. However, the recent RNS confirmed that they are "fully funded" for "drilling in 2023" and are currently in "Rig contract negotiations". Therefore, I really don't see the ingredients there, of anything other than an upbeat update on Wednesday about the Rig. A positive update for me would be to hear them say that based on the negotiations that they are currently engaged in, they are very confident of securing a Rig in time for a Q2/Q3 drilling campaign. Anything beyond that would be a bonus. In terms of DM being pushed out and this being down to a disagreement of strategy, I wonder whether it might have something to do with Noble Helium. They are drilling at Rukwa, and maybe DM wanted to align Rig options with them to save on costs, whereas others disagreed. Alternatively, maybe DM made or oversaw another failed Rig option post 3 Jan, and that made his position untenable. Anyway, I expect the topic of his sudden departure will come up on Wednesday, and we might hear more then. All imo

The update will be positive in the sense that it will be upbeat. I can’t see why it might be negative in that they are fully funded and, unless they were telling fibs, the Rig market has improved and they have a number of options to consider. I mean they managed to make last year’s AGM sound upbeat even though they were a lot further from securing a Rig than they are now and didn’t have the funding. All they need to do on Wednesday is to confirm they are negotiating and express that they are very confident of securing a Rig for Q2/Q3 drilling. That will be sufficient at this stage. All imo

The stock has shown incredible resilience and strength in recent times. It never undercut the placing price and has absorbed the loss of the Rig and DM since then. Most folk know what's coming when Rig update lands. The opportunity to buy at these levels is likely coming to an end, especially if the AGM update is a positive one. And on that topic,
I am sure the new CEO will want to make a positive start. Therefore, I am expecting it to be positive and hope she will, at the very least, confirm that He1 are in advanced Rig negotiations, and we can look forward to finalising those negotiations in the coming weeks. That should then set us up very nicely, going into April, when new ISA allowances come in as well. All imo

I agree Roger65. I have been saying all along that I do not think POW would hold back anything exciting, however small or major it might be. So for example, in this very campaign, they told about about their VISUAL and XRF examination of the drill core when they found Nickel in T1-3. They did not hold that back, saying they needed to review all the data and wait for assay results for that hole, so that information provided is more definitive and reliable. Therefore, if they detected Nickel from other holes through visual/XRF analysis, I am sure they would, similar to T1-3, have told us about them? Or, I can see no reason why they would not tell us and indeed want to tell us? Makes no sense to me.
I also wonder if they have had the assay results for T1-3 already? And if the concentration of the Nickel found in the core has been disappointing? All imo

Gino - I don't disagree with the basic tenor of your post and the dilution scenario you have set out. However, I think much will depend on the next set of drilling results that ECR release to the market. They simply have to be MUCH better than what has come before. In particular, if they manage to hit some REALLY good, high grade holes at CresWick in particular (and also Blue Moon to an extent), then there is still money to be made here. If those results are against the backdrop of rising POG, then even better. But if the drilling results continue to disappoint, then they will struggle in the way you have suggested. So they still have a few more throws of the dice here, in that they hopefully have enough money left in the tank, to have a decent go at CresWick, before needing to come back to the market for more.

As ECR enters what looks like it will be a news rich period, I would have thought that the BOD's window of opportunity to buy shares will become even more limited than it has been to date. So, are we right to expect Director Buys in the short term here?

Well, we have also been led to understand that one of the biggest changes made by BT since he took over has been to significantly improve/strengthen the team at KAV. This doesn't reflect well or evidence/inspire as much confidence in those above mentioned changes, if its then still left to BT to maintain all the comms. Surely one of the others could have stepped forward.
But anyway, we wish BT well and his father a very speedy recovery to good health.

Maybe he (and several other) decent posters have been put off by the descent of this bb in recent times. It's not been easy to come on here and just read the kind of stuff we have had in recent times. Just far too much of it, and daily as well.
It was maybe understandable to an extent when we were waiting for comms from ECR, but now that we are entering a news flow rich period, I hope more of the discussion can be about that newsflow/ECR rather than aimed at each other. All imo

Echo what's been said already. We now know why the strategy update has been delayed to end of Feb and that's understandable. One point that I would make, and its absolutely not aimed at BT at all but KAV, is whether KAV could have communicated this to us sooner. It's meant to be a team after all and not a one man show. Share has price suffered after all and in some small or large part that might have been alleviated had we been told strategy update was on its way in Feb. All imo

AS01 - quite a few shareholders have commented on PJ being subdued and not just me. At the very least, that means that he hasn’t been giving his usual bullish performance or compared to how he was pre-drilling.
In a way we are all being silly trying to guess his body language and excitement levels and drawing conclusions from that. That’s hardly scientific of us. But obviously that’s what a lot of shareholders tend to do in these situations.

AS01 - yes that might explain it. At the end of the day, we should all spare a thought for PJ as well, because he's the largest shareholder and puts all the work in. He can do no more than ensure that targets are prepared competently by skilled technicians/geologists, and then POW has the finances in place to drill them competently. PJ has very much done that with Molopo. In fact, he did exceptionally well to ensure progress at Molopo didn't stall, after the KAV deal fell through last year. So whilst we all, myself included, try to second guess his current mood about Molopo, and question why he doesn't appear to be as excited as he was pre-drill, or is more subdued, we have to be realistic and appreciate that it will be impossible for him to have the same spring in his step (or in his voice/manner) if initial signs from Molopo have not been encouraging, or he was expecting much better from them. He is human after all and the most invested in POW.
So whatever happens at Molopo, good or bad, we should continue to support PJ in his efforts to build POW and deliver growth for us shareholders. I am sure one of the projects will come good and deliver that for us and/or it will happen during the next bull market for this sector. All imo

Yes, time for AH to buy shares if he feels that ECR is the best junior company he has come across in terms of its projects during his career. And the others as well.
PJ often gets lauded for having a large shareholding in POW.

We should have a period now when news can only really be positive (finish at Blue Moon, mobilisation at CresWick, second Rig arrival, Queensland, etc).

Magnum - I have periodically been warning people on here with the specific and sole intent to stop them getting sucked in and losing money. I don't make a habit of regularly posting on here either. It's the co-ordinated team of rampers on here, who do post regularly, right on cue and in unity at key moments (maybe even with multi accounts) who are the real trolls and danger, and reason others lose money. So it's a bit off to aim a trolling dig at a poster who has occasionally tried to forewarn and question the false narrative that they are peddling. If posters aren't able to occasionally challenge the coordinated rampers, then this just becomes an echo chamber, and that doesn't help either.
Anyway, I understand the sensitivity and have no desire to upset or make the situation even worse for genuine investors who have lost money. Therefore, I am sorry if my postings have caused any upset, and I won't post again for now. I hope the situation reverses here for genuine investors and/or you are able to trade your way out of it. Ironically, maybe following the co-ordinated rampers might actually be the best way of doing so. All imo and GLA

Come on rxdav - where's the hourly commentary on the share price? There's some decent buys going through, volume has picked up and there appears to be some momentum gathering.
You've gone from Sky News 'On the hour, every hour' to now providing a less regular service :-)

I think you appreciate AH's approach even more, when you listen to certain other AIM CEOs. It really does make a big difference when you have CEO who you can trust to be transparent and tell you how it is without spinning or ramping too much.

Ignore my last post (which presupposes that you pay any attention to them anyway :-)) It's been stated on the KAV bb that the forthcoming GM is for placing warrants, and nothing to do with Molopo.

Ah right, sorry, missed that completely! Thanks Metal