Member Info for Sausageonstick

Back into the 0.2x pence at 0.295p. Dropped through the support level, 0.27p next support. Let's see if that support holds.

"Additional Disposals.......The remaining non-core asset that ECR plans to sell is 20 acres of land in Victoria.........with timing likely to be in the first half of 2024."

Along with tax losses

More drilling, more testing of bucket of rocks

BM might go into production.

They continually dangle carrots but have failed to get anything across the line. If you haven't worked out their modus operandi by now, then you need to read all the RNSs issues with Mike W hitlow's name on them and work out what has actually been delivered and what continues to be dangled.

i.e. the sale of land has taken since December last year, almost a year, but suddenly when they want the price to go up to get a massive dilution away there was talk of progress. It stinks, it literally stinks !!!! Work the f uck out folks !!!!!!!!

TalkingSense

Thank you, when you say....

"That's why we did the fund raise to cover us to the end of 2025...to enable the actual restructuring of MGA and other required actions to get the physical deal completed."

So you acknowledge any monies, should they ever get to that stage, is going to be after the end of January. Based on what it needed I'd say way passed the end of January.

There are 18 working days until the Xmas break and 23 working days in January

"Notwithstanding this positive progress, discussions remain at an early-stage"

1)The potential buyer has engaged consultants to advise on the optimum structure of the proposed transaction.

2)Once this structuring work has been completed, the next stage, provided that the parties agree mutually acceptable terms,

3)would be to prepare the formal sale documentation.

4)As previously announced, the proposed transaction is likely to necessitate a restructuring of MGA as such that it comprises only non-core assets.

5) The potential disposal of MGA may be conditional on the consent of shareholders being given in a general meeting.

Does anyone believe it will be completed by the end of January 2025???

...in the morning or not? Up 4% and I still feel there's enough progress to warrant one.

Where is the usual talkative, chatty Doc Holiday? Any sign of a video interview with ECRs NED?

Just a question, if you were a CEO of a company, wouldn't you know how much money was in the bank and how long roughly, based on past burn rates and future plans, how long that money should last.

So less than 7 weeks before placing, when Doc Holiday stated 'nonsense sunshine' wouldn't you think he had an idea of how much money that had left and how long it would last them? It just seems weird to me, that 'nonsense sunshine' then less than 7 weeks after, BANG, massive dilution, over 20% discount to get a placing away?

Anyone else find it weird?

This appears to me, based on what I can see across social media, to have been promoted in the last weeks by the same social media accounts that also heavily promoted ECR into yesterdays massive £950,000 dilution.

Draw your own conclusions.

TalkingSense

Yesterday ECR announces a massive dilution, after Doc Holiday posted less than 7 weeks ago, that a discounted dilution was 'nonsense sunshine'

On the very day the massive dilution was announced apparently Nick spoke to the potential buyer.

Now today the date has shifted to the end of January

ECR don't need anyone to diss them, they are doing a great job of self imploding trust with investors all by themselves.

If they just stayed quiet and got on with things but employing the Jason Brewer approach to scattergun X comms, just isn't working.

TalkingSense,

I never mentioned management take over, so not sure where you got that from.

The greater the percentage that the BoD own, the easier it is for them to vote for change / restructure / whatever they want to aka "may be a fundamental change of business pursuant to Rule 15 of the AIM Rules for Companies. If applicable, this would require, amongst other items, the transaction to be conditional on the consent of shareholders being given in a general meeting"

It's not difficult to think of reasons why the Board would want to be paid in shares and not cold hard cash.

I personally don't believe they are being paid in shares simply/ just to align with shareholders. Thoughts?

TalkingSense

Just a correction, ECR are not funded for all of 2025, Yesterdays rns stated "Following completion of the Subscription, ECR will be funded for its planned activities in 2025." It is subtly different and worded to suggest all of 2025, however if, for example the planned activities ends in July, that's when they are funded up to.

It's all semantics I know, but the rns didn't say they were funded for all of 2025.

Lol. "The potential buyer has engaged consultants to advise on the optimum structure of the proposed transaction"

Nowhere near getting this over the line. Now a whole load of consultants, when they are available. are going to crawl over this to identify " optimum structure"

Lol. Amy, quite the opposite. Someone wanted out, they were sells, look at the trade price and ended the day down over 11%.

There are 25 working days left in 2024, then the exclusivity period ends.

Like I've said. More than 2 weeks since the last operational update, Selan should have done enough to warrant another operational update.

Hopefully a RNS this week.

...when a X poster asked for people views on how much the next placing discount would be, Doc Holiday replied.......

https://twitter.com/DDS_DocHoliday/status/1844132778075640023

I repeat, less than 7 weeks ago.

Nice to see it blue. Let those that just don't get it out.

Gold production starts as early as next weekend. Goos to see they got the agreement over the line

Amy,

Down 8% today. Maybe a blue day tomorrow eh?

TalkingSense

Doc's tweet also states "we're not raising funds nor do we intend to"

So you can't put a positive spin on that then?

I see Nick is the one defending the dilution, where's Mike W ?

TalkingSense

Doc's tweet also states "we're not raising funds nor do we intend to"

Put a positive spin on that.