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Looks like a very good deal for shareholders. Also nice to see the shares issued at a 150% premium to the current share price which is clearly very undervalued as the company is moving into production

I think what some people are missing is that if guidance is met in H2 then cash burn should decrease which will increase the cash runway so it is sufficient for the company to reach profitability

The last time the company announced results a bit later than usual the results were positive - 6 February last year

I have yet to see an RNS from ECR that suggests the company has a gold deposit that will be economic to mine

This is all about trying to get the warrants exercised.

There's far more warrants at 1p and 1.5p than shares in issue!!!

This looks like another spoof RNS to try and make low gold grades better than they really are to try and suck in less experienced investors. Giving gold grades per cubic metre instead of the conventional grammes per tonne so you need to dive the grade per M3 by the specific gravity of the ore which on average is around 2.6. Obviously when you concentrate the ore the grade will be high but it's very unusual for an exploration company to report grades this way

It looks like ARCM are about to announce a key copper discover in Botswana.

I'm surprised to see KAV has a similar market cap to ARCM, especially given ARC's main interest lies in its JV with Anglo American in Zambia

We already know Kouroussa production in Q2 so it's all about how well production is ramping now mining volumes are hitting target rates

It will be good for investors to see Kouroussa production for the full month of July. We already know roughly how much was produced in Q2 so the start of Q3 is more important

What's a sensible market cap? There's 200m warrants in the money which is more than the number of shares in issue so the market cap will more than double from here when they are exercised

The £15million market cap doesn't make this look much of a bargain given the extremely risky location of the project and that it's at an early stage of development

Yanfolila has been profitable for the last 6 Quarters and 7 quarters including Q2 2024 which will clearly be profitable given the gold price

I'm hearing Kouroussa is very much back on track.

Corica mining volumes are at contracted rates so declaration of commercial production should be very close

At the AGM the resolutions giving the company authority to issue new shares were withdrawn

There won't be a placing. Catalyse are at 29.9% so can't take more shares otherwise they will have to make an offer for the whole company under the Takeover Code where the threshold is 30%.

Also I don't think the company has headroom to issue more shares

There's still a big risk the MTUP, or any other permission required for production, may not be forthcoming due to locals objecting etc. The JV partner isn't risking very much until the permitting is in place - only up to $100k

The current market cap of £12m ($15m) suggests the projects are more than fully priced given the amounts the JV partners are investing. I don't see any real upside until the projects are actually in production and investors can actually see whether the numbers in the scoping study are really achievable or pie in the sky

Doesn't look like a good deal for shareholders as they are giving up such a large slice of the project for only $2m (£1.5m)

Excellent research chaps. I just added another tranche to my holding.

I think the company could be a very attractive target for a larger player. If so the sale price would likely be at many multiples of the current share price.

Even at a high gold price the volumes that are set to be processed are so small that it's not going to make much of a difference for shareholders