Member Info for Legalwolf

AS01 - Molopo caused the share price to double here, merely on anticipation. Therefore, no reason why any positive results from Molopo would not have continued that momentum. Instead you want us to believe that PJ might be sitting on positive results, but has chosen to kill the share price momentum instead, for the sake of wanting to wait for all of the results and a comprehensive review? Well if he is doing that, he must be super confident then, except we are not hearing too much of that either, or relative to how he was sounding beforehand.
But anyway, no point speculating, as ultimately it looks like we are going to have to wait for however long POW decide in terms of their strategy. All imo

Well if its as easy as rocking up and pitching at a conference, why didn't they just do this before, and spare us the misery of previous placings? Maybe the POG and JORC resource at Bibemi is the answer.
And should they be speaking about drilling plans in advance of securing external funding. My concern is whether they will now ramp up JV talk to boost the share price and then hit us with more dilution. It's a classic AIM tactic used by these juniors.

Dan - after you hear it for like the 20th time, it starts to wear thin and he lacks credibility imo because he doesn't really address negatives like we do on this bb. But it is good for relative newcomers to ECR.

He surely deserves one of these part time positions on the BOD. No one has done more to talk up ECR, and for so long, than good ole AG. He must have a lot of stock, otherwise I can't understand why he gives this almost scripted sales pitch of ECR every quarter and has been doing for as long as I can remember. Nothing he ever forecasts ever comes true, but still he goes on? All imo

Sounds very positive. The bit that he forgot to cover is how are they going to pay for any drilling in H2. Another big placing on the way, or will they manage to bring a JV partner or in or achieve an asset sale?

AS01 - if they already have information/assay results from that hole, and the results are as positive as you suspect, then I really don't think, or see any reason, why they would it back. They have note done that with previous/other findings of Nickel at Molopo. I do think it's just illogical and counter intuitive to think that PJ would sit on something like that and let the share price tank in the interim. The waiting until 'all results are in' makes more sense if you don't have anything positive to report, or information is incomplete and it would be foolish to release it piecemeal.
That passage from the RNS that you cited is so broad, that it could be used to incorporate a broad range of outcomes, positive and 'negative'. All imo but let's see.

They might not feel the need to attend, if they already have strategic interest and potential JV partners/investors lined up. Plus we are cashed up. All imo

Often, these conference presentations are delivered to half empty rooms! Very rarely does anything come out of them. But let's see.

Lol, he should be telling us, as part of the hourly commentary. You've stolen his thunder there....

The £3.5 million was only raised in October and added to what they had before. I don't think cash is the problem at all. It's lack of sentiment/demand, as a result of some of the issues we have been discussing and market conditions as well.
In the absence of news, we are heading for a penny here. Volume (new interest) has just completely dried up. All imo

Tamer - that's probably the product of low volume. MM trying to make money within the spread by widening it?

The MM want to make money, so will take this to where the most volume is. As we can see from today's trade volume, there's not much volume at these levels. We had the flurry of activity yesterday, and now its back to how it has been in recent months. IMO, this will keep dropping until the earlier of Blue Moon results or CresWick drilling plans (or a technical support level develops).

AS01 - the update for that particular target, from this campaign, is set out below (taken from the 7/12 RNS). I hope I haven't mixed them up. Anyway, I note that core from this target was sent to labs in December, which means that POW should get results very soon, if not already?

Target T1-6
§ Drillhole DDH1-6B was successfully completed to a depth of 650m with interbedded mafic units, predominantly comprised of pyroxenites and serpentinites intersected throughout the majority of the hole. Pyroxenites were the host rock for nickel sulphide mineralisation found within original drillhole KKME1-6 drilled during the 2020/2021 campaign.
§ Preliminary technical core review from DDH1-6B has been completed and select samples were prepared and dispatched to the accredited assay laboratory in South Africa for analysis.
§ Drillhole DDH1-6B(2) was completed to a depth of 300m which was designed to test for the up-dip (shallower) extension of the targeting pyroxenites identified by drill hole KKME1-6. Hole DDH1-6B(2) successfully intersected (up-dip) pyroxenites units, with detailed core review currently underway.
§ A downhole EM geophysics survey has been completed at target area T1-6, the final results of which will be delivered to the company alongside the geophysical results from target area T1-14 in the near term.

That's a good post and summarises the key questions well. I must confess to being a little surprised that Cora have even managed to secure this level of financial backing, given the jurisdictional issues. Although its right to note that they are mostly existing large shareholders rather than new money (which would have been even more re-assuring). Like you, I am more concerned by Russia/Ukraine in this context than the military coup in Mali, although they are both interconnected. We know that Russia/Wagner has been targeting Mali's resources. There are also no signs of peace in Ukraine, only escalation with more weaponry going in for the next phase, which sounds like it could be very bloody indeed. I also think a sale is as likely an outcome as Cora operating the mine.
Although I have said it would be good to hear from BM, the problem for me is:
1) It's his job to put a positive spin on things, especially when he's raising $30 million.
2) He doesn't know any more than we do how things will play out.
3) A sale could be a low ball offer if its done because of jurisdictional/mining licence issues.
I do wonder whether it would have been more sensible to bring in Chinese and other regime friendly funds into the project at this stage and as part of this $30 million raise? All imo and DYOR

I suppose it matters not really. Ultimately, we are all agreed that what matters to us as investors/traders is does GCAT offer the opportunity to make money from hereon? And on that question, we need to hear from them to see what the current state of play is.

-Why does ECR not have any full time BOD?
-How much time does AH devote to ECR?
-Does ECR have any full time staff. If not, why not?
-What performance criteria are there for management?
-Will salary sacrifice/reduction be considered given limited resources and share price underperformance?
-When exactly are we drilling at CresWick
Of course they might not answer these, but posing them shows them where concerns are. All imo

Zan_TM, BOD have done very well so far when you consider their salaries, and I believe they have also received introduction fees and free shares which they have sold. So they are definitely making money here regardless of share price performance. All imo

AS01 - let’s hope so. We will find out in circa 2- 3 months I guess.

Zan_TM - that’s a really good post if I might say so. You are absolutely spot on. This not an ethics or integrity contest, but an exercise in trying to make some money. Ultimately, that’s the only criteria that matters really. Despite my distrust here, if I think GCAT/RM can still make me money then I will reinvest, irrespective of what has happened before.
I suppose what it boils down to then is trying to separate those companies that tell untruths, but will still make you money on your investment, and those that are only in it to enrich themselves, and you fall victim to that. All imo

IMO the whole thing is going to be one long running ramp, which will be spun for as long as is credibly possible (just like Thar before it). I just don't buy that a diluted tinpot AIM company is going to rise towards becoming the driving force behind one of the world's first and biggest GH plants, in a country whose only green credentials to date have been the colour of its national flag? If you believe this GH plant is actually going to see the light of day (or is that wind of day?), then more fool you imo. The only "net zero" this BOD is going to deliver is to your holdings. I was going to finish by saying "you couldn't make it up", but then realised that's finishing with an inherent contradiction.
Anyway, I've made my views clear, and will continue to watch this from a distance. For those genuinely and heavily invested here (and not the co-ordinated team of rampers/traders feeding off others), I hope I am wrong and little ole ORCP do pull this off and actually and finally deliver something for such shareholders. All imo and DYOR