Member Info for mentalmax

Which decision Mental?

To refocus on Victoria.

'..........has it? Didn't we just raise a load?'

Yea we did Ti, I had noticed! not the first time we've had our trousers pulled down and won't be the last!

I do also wonder if this decision has been somewhat influenced by AJ? He seemed nonchalant in the first few QL related interviews, making some rather uninspired comments as I recall ('I may have to come back..'). He's based in Victoria, I'm sure he'd rather stay there and now he's part of the BOD perhaps this influenced strategy? Just thinking aloud as always.

…..The money to drill it has though!!

That's not to say the phoenix won't rise in Victoria and make us all look stupid!

Wasn't Havieron missed on the first few sweeps? (or am I thinking of something else..) you get what I mean though!

TBH I think many would actually go along with that rx!

Obviously in the real world though the porkers exist and need the train running as long as possible. A fire-sale and s*** or bust campaign would be unthinkable I reckon.. It's OK to risk shareholder capital but to risk de-railing the train! not on your nelly! They'd sooner dilute us to oblivion I reckon with marshmallow fluff projects.

Right Rx, humour me.. Thanos snaps his finger and you are CEO of ECR, Everything else is the same..

What do you do? what's the strategy to get us out of this mess?!

Your time starts....... now!

Jesus how many times did I say 'I suppose' there lol

I think it's more a case of cost Ti. Without another raise ECR can't fund multiple campaigns so going back to a place of previous disappointment with the cash we have left is disappointing IMO.. If they do indeed do this.

I tend to agree that with our current situation, QL is looking a bit like a long term expensive maybe.. ECR is only at rock chip stage after all so I suppose they know Victoria more..

I suppose the big question is.. With limited funds, do ECR have more of a chance hitting an unknown expensive maybe? or try and finally prove up the DMS hypothesis with all of the advanced intel we spent millions on?

I suppose one could argue that ECR are better with the devil they know. And speaking of devil's, I'm somewhat playing devil's advocate here aren't I ha

Mental - maybe AH will take Hurricane with him. I'm sure he's other and main company could (easily) afford it?

That would be fecking embarrassing for ECR if that happened!

And ECR are in a worse position RE a JV than when Craig tried, we had money and a better pitch. While less proven at the time, there was excitement at what drilling would prove up.. but then we drilled it ourselves.

'not been as encouraging as we would have hoped' was the understatement of the year!

It will certainly be interesting to see how the market takes a re-entry to Victoria.. The positives are of course that ECR start drilling much sooner! and what if they hit big this time eh?! see, not all negative am I Ti ;)

.....And yes it could also come down to the amount needed for Hurricane. A big commitment. Hurricane was supposed to be the 'almost' sure thing, at least that's what was sold. Why the change? It really does me wonder why AH left, he clearly decided it wasn't doable. I don't buy that he was pushed out, he was the best thing the Co had going for it RE experience and industry gravitas.

I expect it relates to the seasons, Victoria should open up after November (September – November wettest seasons according to google), so drilling there first will of course mean faster newsflow than waiting until April+ for Queensland.

But as ECR is short stacked I think throwing more money at the Victoria money pit could be suicidal. They chucked millions at it before for nothing. Queensland was tipped as Elephant country and Hurricane 'near commercial' so why the palpable enthusiasm for Victoria all of a sudden? I get that it's 'wasted' licenses but we drilled it and found nothing commercial. No Co will JV Victoria as we ourselves have proven it un-commercial, hence the move to QL.

I speculate that it's Doc's strategy to hit the first 'easier' option (Victoria), ramp the socks off it with his 'mates'/twitter following then raise into a spike to carry on at Queensland. Who knows! Feels like a teenager choosing their GCSE's though.... I'll do art, no, i'll do music... no wait i'll do geography.. No wait music!

Back to Victoria then, it's obvious.

The reason Haythorpe left IMO.

Whatever Ti, you’re clearly over the moon here irregardless of the sp so who am I to knock your spirit. You go girl :)

I like Tang & Co's ACTUAL salary sacrifice more than Ant & dec's agreement as it's a material cost saving. While Ant & Dec claim to be aligned with shareholders, they benefit fully from any price above the absurdly low .175p, while I suspect none of us benefit until we surpass 1p,2p etc (which is now harder to achieve due to dilution).

BTW I know that scallywag Rx has run with it.. lol, but I was more pondering what Doc was calling grossly misleading RE Goldfinger's tweet.. Because if it was about his raise comment, they did discuss the possibilities of a raise ('should we raise more cash'). Anyway, all speculation and noise until the red dot appears. Good night all.

Because I wasn’t talking about their renumeration I was talking about raises as that’s what Gold finger or whatever his name is brought up. I know they get paid based on sp, albeit at .175 which means it could linger at .176 for a year and they’d still make bank while we’d all be sat on -90% or whatevr. Ti I’m honestly not trying to be a rascal I’m just calling out what I see.

From the interview (I tried to get it verbatim but apologies if it's not 100%, listen for yourselves obviously) -

''that metric will change so should we not raise any more money in the next quarter then we'll use the volume weighted average and we'll re-calibrate the price for the next sort of share price, so we're.. we're working in a prevailing manor, and should we go and raise some more cash we'll use that as the bench mark and the next sort of quarter of shares will be issued at that level''

Another raise imminent? Is this what Gold finger got 'shot down' for referring to (or was it the bit about sticky hands selling?)

I'm not trying to be provocative just crunching the data.

-though lol

The interview felt like a gentle massage back into the mindset of drilling Victoria. At least that was my interpretation.. will be interesting to hear your take Legal. I suspect there are some residual hot spot drill zones AJ wants to hit.. BUT, I do fear more of the same. I suppose a small campaign in Victoria with home kit could be better than nothing for 6/8 months activity wise, the main issue though is $ though.