Member Info for mentalmax

Quoted above bid for 2m. Bodes well.

Good week ahead I reckon. GLA

SNAP! ha

#ECR @ecrminerals Will be catching up with Adam tomorrow for an exploration update on Victoria / Queensland .... as the countdown to Blue Moon drilling begins. Just days away. Will publish once recorded.

Wakey wakey MM's nearly 5m bought vs 800k sold and no tick up!

Interest returning by the look of it!

Must be a buyer. Offered above bid for my entire holding. Never been quoted for the lot before, ever.

Pretty sure Andrew implied drilling will start very soon, in the latest interview he said the rig should be there already (yesterday, today, tomorrow) and would start spinning immediately. I hope they RNS when the drilling commences. Just spoon feed the market!

My glass half full theory is that they won't need the second rig until Queensland as they'll have a third party swiss cheesing Creswick.

They're saying inflation will be 22% next year now ffs. How TF has gold not bolted?!

Fair play. We're all holding a nasty paper loss atm.. Just tired of seeing people talk down the price, it's no doubt been a factor in the recent sp destruction (along with nervous PI's bleating about a raise which the Co keep addressing).

I watched 'The Big Short' on Netflix last night, and right before the bubble burst the bond prices went up to squeeze out anyone betting against the mortgage market.. Made me think about Gold at the moment. Inflation is sky rocketing but anything Gold related appears artificially low and supressed. Once the breaks come off, I'm hoping the reversal will be swift.

GLA indeed.

So you ‘hope’ it drops to .45 to bring your average down. Transparent much.

Licenses are the elephant in the room IMO. HR3 results will likely be so so (interesting addition to the bigger picture spin, not counting chickens), we will probably get some decent rock chip samples back, AJ sent in over 100 so we're bound to get some good ones, BUT they're rock chip, preliminary stuff.. upcoming Blue moon results could go either way. we KNOW the site is 'probably' at a commercial resource standard, BUT, these drills (according to the diagram) are testers to see if the gold extends further than the known discovery area.. They may not.. This doesn't mean BM isn't commercial though, the geology is brilliant based on previous assays so re-drilling the 'known' areas will produce some stonkers. Queensland is anyone's guess but I think AJ will find some hot spots using his savvy antimony technique.

Licenses dropping (before year end) will generate JV interest IMO. AJ is a geologist and he's stated that the DMS is littered with pockets worth 10-20m a pop, who are we to argue with that? and that is without CB enthusiasm or spin.

Once we get the licenses the SP will bolt IMO, that's the BIG turning point for ECR. In my opinion we will then secure a JV with a carry. The carry will fund Queensland.

Food for thought. ECR is very much alive but hibernating awaiting the big catalysts.

I think Phil and the Chinese are definitely n000,000t happy atm Gino!

To be fair I think Andrew had just got off the phone with him so probably more a light hearted sentiment tweet, I'm sure he asked permission first!

Finishing green in a sea of red today isn't terrible. My 12p GGP top-up was a doozy!

Gino's 250k seller happy to dump @ 73p gawd sake!

New week ECR, let's GO!

It really does sound as though ECR will end up with a big fat cash cushion soon with all this disposal of non core ‘stuff’.

Entering into a period of world wide economic distress, it will certainly put us in a strong position, AH mentioned ‘additional areas’, we will have $ to purchase hot acreage on the cheap from distressed sellers/companies.

With a healthy bank balance; we now need blue moon to be proven commercial, a JV @ Creswick with a free carry and some juicy preliminary hits in Queensland and we’re off to the races.

GLA; F1 time!

Missed this first time round...

'Our focus has been really on looking at some new areas which we are really advanced in discussion on'

interesting.

...My hope is that ECR don't actually need the second rig for Creswick as they won't be the ones drilling. If you catch my drift. 300 Soil samples in the lab looking for potential drill zones.. At the request of our partner maybe.. ?? one can hope!

I see a reply from lucaduca1616 on twitter implying HR3 AND Creswick not good enough for a mine... Unless I missed it I think AH was directly answering AS's question RE HR3, where the veins are narrow/high grade.

In Haythorpe's July presentation he named Creswick as the 'Jewel in the crown' along with Queensland. It has gone notably silent on the Creswick front. They need to bank a JV and carry on it ASAP. Those licenses can't come soon enough!

Thanks Knigel.

Finally addressed the 2nd rig question then. Holding out for when we need it to save on burn rate. Fair enough.

Money banked
Other 2 properties for sale
other asset sale 'pretty much finalised' (interesting!)
boots on the ground as we speak in QL
Blue moon referred to as the 'Big One' - commercial grades - rig on site now
Andrew not too excited about HR3 clearly but we knew that already
loads of rock samples sent to the labs
Big lecture on inflation at the end and how it will inevitably shift gold price

Nothing majorly new but thanks to Andrew Scott for listening and getting an interview out. Lighting and setting more corporate. Looking forward to Adam's satellite phone podcast in a tent in the outback ha!

Property sales can easily fall through so good to know the $$$ is now banked. Positive.

Yes the raise was a game changer for sentiment. Even though Craig accepted the slapped wrist it did erode trust. I think Andrew Haythorpe will be aware and careful with what he promises. He seems a far more serious business type, less bubbly enthusiasm. I've noticed already that there is far less hyping up of assets. Ironically PI's love a bit of hype to get the SP motoring, then moan when the bottom falls out. damned if you do damned if you don't.

End of the day, screw the talk, the market wants results, period.

My take is that poor Craig massively overestimated the Victoria State Government's ability to do it's job. The JV's he hyped were (in my opinion) very much on the table. They were (and still may be) subject to the blasted license approvals. I don't think it was b***s***.

While we're on the subject, with the greatest of respect, do we know the cause of death? I did wonder if it was related to the immense pressure surrounding ECR at the time.. Deals lagging, Creswick results not as hoped (need bulk sampling instead of diamond drilling) investors venting etc. He seemed very stressed in some of his later interviews.