Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Drilling news shouldn't be too far away now - pure speculation but site visits from you know who could have taken priority in recent weeks with the lifting of WA lockdown... who knows?! ECR don't communicate rubbish like some companies and when they do update the market - it's generally pretty detailed highlighting everything that's been going on behind the scenes.
I expect it's the last few days or week or 2 to take positions - as once the news lands to confirm the drill campaign is underway, I fully expect regular updates and building excitement along with some CB interviews in between. Sentiment and the sheer potential upside will drive this into the next range and beyond.
Have been loading up here in recent days/weeks - wouldn't be surprised to see a strong move into the 2's shortly. Gino - good to see you here.
I’ve been building a position here in the last couple of weeks. Took some effort buying stock at times but gathered a good holding last week. LND still under the radar of most - reminds me of ECR Sept/Oct when I built there, except this should move much quicker and much earlier. Loads to get excited about in Jan and beyond. Have a good new year all
I’ve been pretty quiet of late enjoying the Christmas period and smashing way more whiskey that I should have but still long and strong on ECR. Price actions been really good and it’s holding and consolidating well around 4p.
We should get the drilling campaign kicked off early new year and hopefully a nice CB interview to follow to give us a taster of the JV talks. Have a cracking new year all.
6% even 10% down considering the wider market overreaction shows the strength we have building. Strong volume too. I’ve taken the opportunity just now to add to what’s already my largest holding and actually averaged up (very unusual for me) - but when nothing has changed and the market has presented a gift I couldn’t resist.
January looks like it’s going to be pivotal for the route forward to me - drill turning / results coming / JV bubbling. To quote paddy “sit on your hands” - doing nothing is sometimes the best move you can make in this game. GLA.
I am indeed Kabaa and thanks for the recognition. Haven’t sold a bean - firmly sat on my hands and this is my largest holding by a fair distance. Don’t post much but keep my eye on the board. Operational update soon - SP holding well and consolidating and should see the break through 4p very soon. GLA.
Always good to get some balance Q - however I’ve provided some answers below -
“Can someone please post a negative on ECR”
My own thoughts are as follows.
~ No drill programme as yet. (Programme is designed and permits in place - HR3 is first target and drill will be turning any day)
~ Therefore no results. (Can assay on site within 24/48 hours, results won’t be official but means they can be reactive and provide regular updates to market on how things are progressing)
~ Possible JV will take place only on drill results. (JV is for Creswick. Drill programme is on Baileston)
~ Always with these companies fund raising is never to far away. (When cash stood at £1.6mil a couple months ago CEO stated fully funded for drill campaign well in excess of a year. Since there’s been around £500k additional)
~ CB 8 billion dollars on resource would be years down the line. (The drill programme about to commence will be looking to establish JORC resource on HR3 and/or Blue Moon - both of which they are confident they will get)
Hopefully that helps - cracking board this one lots of knowledgeable posters and good to get a balanced view - even with the balanced view it still looks incredibly positive.
Cracking day today and lots more to come. New director appointment with bags of geological experience - with him, CB’s track record of multi-million ounce resource and bringing mines to production, and Dr Rodney Boucher who sold Haveiron to GGP you’d be hard pushed to find a more experienced team. Today they have got the house in order in prep.
Drill bit turning any moment now - HR3 confident of JORC resource. Blue moon was a recent new discovery and confident of a JORC resource. Creswick bubbling away for what appears an imminent JV - we all know Newmont are sniffing and “very very fond of Creswick”.
Should be a good Christmas and Q1 2021 in particular should be transformational.
That’s the beauty here really - at around £20mil market cap and a CEO who will not let his licenses go cheap as proved by the numerous offers on Baileston that have been turned down (offers as recent as a couple of weeks ago too) - there’s multiple interest in Creswick creating a bidding war and the funded drilling programme at Baileston. Both should add significant value to ECR.
Short term I see bags - long term I see a fortune. I don’t post often as ECR for me is ultra long hold so intraday doesn’t concern me. I’ve been in this game a long time and have honestly not seen a better opportunity than where this company is right now.
Derampers etc will turn up on any board especially when the companies looking strong - either bitter they are missing an opportunity or want to try drive the price down to get in. The number one rule is literally don’t respond it works a treat - they soon get bored :)
Great point about Creswick Gino - 10p / £75mil mcap for a producer is beyond peanuts. Like you say it’s not just Creswick - I think Baileston will be an absolutely monster which is why they’re turning down offers left, right and centre.
Angoose potential upside here is massive. Lots of good and knowledgable investors on this board that I’m sure can add to the below but I’ll list what I can -
- Over 1300sq km of licensed area in Victoria Australia which is one of the hottest postcodes right now
- Recently took delivery of ECR owned Diamond drill rig and commencing a drilling campaign with news likely to drop any moment.
- Can assay on site in 24-48 hours as opposed to current 3-4 month waiting time, speeding up the process massively and allowing ECR to assay and drill new areas very reactively.
- Baileston license is where the drilling will start with lots of exciting prospects (previously drilled numerous times with good results)
- CEO confident to get a JORC resource confirmed.
- Baileston has already had numerous offers which ECR have turned down due to knowing they have much more value.
- Newmont recently applied for a license bordering here.
- Creswick license huge interest with 2 parties already completed DD and awaiting site visit to thrash a JV deal out.
- Western Oz have opened borders to Victoria as of a couple hours ago meaning site visits can now take place (this has been held back for about 8 months).
- CEO stated “one of the interested parties is the 3rd largest gold producer in the world and they are very fond of Creswick” - looks likely Newmont due to visit the site any day now ahead of a potential offer.
- The geologist who discovered GGPs Havieron now works for ECR and is extremely excited about the projects.
- Fully funded for in excess of 1 year and recent warrants add another £400k to what was originally approx £1.6mil cash balance.
- CEO has a track record in previous companies getting resource on multi-million ounce deposits and bringing 2 mines into production.
- Gold on the rise
- Victoria in particular seeing much more activity especially with big players growing from around 6/7 companies to 50 on the ground recently.
- £17 mil market cap which CEO stated is hugely undervalued as Fosterville South for eg are worth 12x more and he believes we have much, much better prospects.
There’s so much happening I’m sure I’ve missed more but if anyone else can find me a better looking company right now I’ll throw my house at it! Gl with your decision / investments.
I always like to keep my feet on the ground in this game but I’m getting more and more excited with ECR. This coming week should send us to the next level. A lot of people using the “next GGP” line on many stocks out there but for me ECR is going to be an absolute beast!
What’s happened over the last 5 years in terms of the SP is sort of irrelevant here - ecr are now entering a new phase which could potentially blow the SP out of the water. Years of funding, acquiring licenses and drilling has led to being in a position where they have unbelievable licenses in one of the hottest sectors right now, gold price on a boom, fully funded with further diamond core drilling commencing any day, restrictions in WA looking set to lift Tuesday opening the borders for Newmont to commence a site visit, other JV interest in Creswick, multiple offers on Baileston, GGP’s geologist now part of ECR and the list goes on. Market cap incredibly small in comparison to many of its peers with ECR arguably having much, much better prospects.
Interest is increasing day by day as investors starting to wake up to the monster ECR could be. Fully expect 3p to be taken out this week and any sniff of Newmont arriving in the next couple of weeks then 4p plus on anticipation - JV complete and double figures is the next stop. Best opportunity on AIM in my opinion.
If you watch some of the recent interviews earthling the CEO has stated numerous times they are fully funded in excess of a year - more than enough to carry out drilling etc. - that was before the recent £400k added too.