Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Yeah I won’t be selling early here that’s for sure!
Just seen that Gino great news - all being well no rogue cases over the next week then we’re on! Whilst the JV talks bubble away let’s get that drill turning in the meantime!
Warrants are part and parcel of junior mining companies. I was in GGP early days and they had loads. It’s funny I saw a load of block sells earlier today and wondered where they were coming from - most probably absorbed already. Won’t have much impact and more monies for the company
Feels like we’re hitting a new place with ECR now I’m expecting to see this build back towards recent highs, and with plenty of news to back it up this time. Interview this morning was very good - Craig very tight lipped about Creswick and really gives the impression it’s a done deal. Companies queueing up for a slice of Bailieston too.
Over the next 12-18 months I can see a significant JV on Creswick, JORC resource confirmation, cracking results on Bailieston then I think that will be next for an earn in whilst Tambo comes into play.
The next few months in particular I think we will see some great shareholder value. All starting to come together.
That’s it exactly jsmith - no issues with drilling whatsoever, all permits etc. are in place and we know ECR are fully funded well in excess of a year. Drilling due to start any day, but JV site visits will commence once restrictions are eased further - Victoria seems to be going in the right direction in this respect so I don’t believe that will be too long.
Added some more this morning and slightly averaged up - couldn’t resist. Fridays news was somewhat forced by investors getting impatient and really it told us nothing we already knew. Lots invested on expected JV news and expected to see that immediately hence the sell off on Friday. Most traders on AIM lack any form of patience and/or research.
Nothing changed other than closer to getting the drill turning. JV possibilities haven’t changed either but at least allow Victoria restrictions to ease first!
Smart money will buy the dips and sit on their hands. All looks good to me :)
I’m not one to relish in people losing money but I do want to say this - I gave some advice and asked some fundamental questions weeks back when this was 0.6. I expressed my opinion that fair value at current was sub 0.3p. I got absolutely slaughtered by most as no one could face any criticism for this stock whatsoever. I’ve been in this game long enough to have a pretty good understanding of the market. I’m not here to gloat, but simply to advise that fundamentals win - don’t get too emotionally invested it doesn’t work out well.
For the few that will still call me a “paid de-ramper” - I work full time investing and trading on the advise of my own only and it allows me to be pretty self sufficient.
Genuinely sorry for those that have lost money here - learn from your mistakes and there’s always other opportunities in the market. I’ve had plenty mistakes over my time but learning from them was the best thing I ever did. GLA
Would have been bad timing today that’s for sure. Gold has taken a hit today with the main markets having a boost but ultimately today’s news makes no difference - pre-pandemic or post-pandemic if ECR delivers what it’s hoping to the rest is just noise.
Yep Mercator Gold Australia is ECR’s subsidiary company. Smart move keeping all the licenses under this company too - makes it cleaner for any future sales / deals. Lots going on the background that we don’t even know yet as evident from POW RNS. New Mercator website launched only recently too - news rich period ahead!
Just get that feeling this is going to start pushing north soon. Really solid consolidation above 2p and news can’t be far off. Lots going on behind the scenes. Huge JV news in the pipeline and wouldn’t be surprised to see more than one. Prove Baileston up further then the original interested parties and maybe some new ones would have to put a fist offer in this time.
I did tell you weeks ago this isn’t going anywhere for a long time. It’s way overvalued and the market is showing that - there’s no conspiracy or games being played, they simply aren’t making enough money to warrant that valuation. But obviously and like last time - I’ll get slated for sharing that opinion.
Calm down Gino it’s almost as if you want it to pullback to prove a point. The only reason this is at 2p is due to the wider market mechanics - COVID / US elections. Would have held around the 2.2-2.3p range before drill rig news.
Anyway it’s created an opportunity that wouldn’t have been to either buy in the panic and sit on your hands or do both. Next week gets interesting.
Haven’t sold a penny and don’t intend to for a while yet. 3 trading days before drill arrives - RNS should be no later than Monday imo. Should have a detailed drilling plan too. Then it’s regular updates for 6-8 weeks at least. During that time finalising JV talks should well be back on. I switch off on the red days as it will soon bounce back.
Date for the "name the rig" competition closes Friday - clear to see the drill rig is still en route for delivery immediately after. Then we kick start a fully funded diamond drilling campaign to further prove up the exceptional results we've had before. Expect a continuos flurry of news for 8 weeks or so from then. This week is about taking positions on the weakness before the campaign starts.
Fully expecting 3p to be breached next week followed by 4p on expected good results. That should build a nice base for the JV talks that are in the pipeline and if Newmont or AngloGold make an offer as expected - double figures here we come.
Natural pull back today to be expected - huge volume last 2 trading days and from next week heading into a very news rich period. Keep your eyes peeled and try snaffle what you can on any weakness - take your positions before this really gets going.
A couple of points in relation to the financial position to clear up some of the points below -
- CB has stated a number of times that with £1.6mil in the bank the operations are covered for well in excess of a year. JV(s) will cover any large scale operations and add tremendous shareholder value.
- The recent financial report shows an operating cost in 2018 and 2019 in the region of £721k and £762k resectively - this includes a number of drilling campaigns during these periods highlighting the potential resource at a number of the licenses.
- Drill rig is owned and already paid for by ECR
This coupled with future reimbursement for R&D means the company are more than funded, as stated, for at least 12 months.
Also as mentioned previously - 450million shares are sat with a number of nominee accounts holding between 4.22% and 12.59% of the company, leaving approx 191 million free float (approx 30% of the shares in issue). Approx 130 mil have been traded over the last few sessions.
The 52 week high got taken out today - and with high volume and the pipeline of news to come, this all points to a significant rise over the coming weeks and months.
Another cracking day and as Dill states this is en route to double figures. Too much significant/company changing news to keep this back. Market waking up to the tiny market cap vs serious upside. Can see 4-5p in the coming weeks and with multiple interest a JV announcement will send this 10-12p for starters. Long and strong.