Potential New Investor14 Aug 2020 13:20
I am heavily invested in GGP 3 years and counting and have been looking for something to spread my risk in my investment pot (Trading pot used on other shares such as EUA, SNG AVCT etc). A summary of the research is below and was hoping any LTH could add more meat or correct the below?
ECR has a couple of projects across the globe (South America, Philipines etc), but they have an interesting project in Australia, specifically South Victoria. Within the license they have 2 100% owned projects Baileston and Cresswick, with interest in Avoca and Timor projects (interest being they sold the license to Fosterville South Exploration with an agreement that ECR be paid $1 per oz of gold found).
With regard to the 100% owned projects, they have drilled some holes in Baileston and got some really good gt and minimal depth (2019 RNS). They have completed surface view of Creswick which also looks positive. They have some license applications outstanding on WINNIDU project which is in a different location of Australia.
With regard to their non Aussie projects, they own 25% on Dangala project in Philipines and they hold royalties on SLM Mine in Argentina.
Financials are standard, warrants out and application for block listing meaning a level of dilution to take place (Need to look at the extent of that, but RNS issued on 4th discussed block listing application). Market cap is 13 Million with 640m shares in circulation. The directors dont have much skin in the game (Negative).
On the JV front ECR have 4 potential partners, we know one is Newmont, we know one potential partner has already presented to ECR (CB interview) and that DD has been undertaken by at least a couple of the parties. (Copy from LTH on LSE, thank you for the info)
SAN
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