Member Info for Sausageonstick

My opinion and view, the trust in Roland has been shot to pieces with him missing self imposed deadlines. No one is sure he's actually getting on plane !!!

Once he's in India, it might be different

.

Plus the payment to the landowners, we recently saw.

If you tried to make a jigsaw from what we know, it just wouldn't fit together. It just doesn't make sense. We've had, matter of weeks, soon, imminent, flying out in early July, when I was told early June back at the end of May. So for some reason his flights were delayed a month, but something has given Roland a nod and said get out to India from the 8th July.

And so after delaying a month why go now? What is happening next week that needs Roland there?

Say what you like Tamer, it won't stop me posting the facts / my opinions on here.

You keep posting abuse and I keep reporting the posts to admin.

With ECR RNSs you gotta strip away the emotive language and read the RNS for what it is.

Ignore phrases such as;

Exceptional ..... Results

highly promising

significant breakthrough

truly remarkable

They are included in RNSs for one reason and one reason only !!!

Read the facts

143m down, for a distance of 30cm the soil contained 32% Sb and 68% anything else.

At a depth of 126.4 metres there is 1.2% Sb

At a depth of 125.9 metres there is less than 1% Sb

So the Sb is concentrated further than 126.4 metres below the surface.

The %age Sb reduced the closer to the surface.

Mike W h i t l o w states "focus will be on identifying a suitable strategic partner to collaborate with and fund"

So now they have to go off and start talking to companies who want to fund removing 143 metres of overburden. Of course, if the other company are collaborating and funding it, in my experience, they will want the lion share of the profit as they are taking the lion share of the risk, so ECR will of course only see a smaller proportion of the revenue.

Quite a spike yesterday, and further back down today, I wonder how many got stuck on the spike and are locked in (unless they want to turn the paper loss in to reality)?

Daramuda,

I agree with your 9.37 post. Argonaut must think it viable to take on ECR as a client, I just don't think it's going to be as quick or for the value people think.

Mentalmax

Oh for me, in my opinion, it is definitely about the constant drip drip of news flow with a wrapper of superlative adjectives to boot. It's almost like ECR have taken a leaf out of the Jason Brewer school of media promotion. People, just as yourself and I are seeing through this approach. Testing retesting + news flow after each test distracts from the fact ECR are not drilling fresh cores to analyse or don't have a revenue stream.

Currently it's we might sell Creswick property, we might sell tax losses, we might dig 143 metres down to get Sb. What they are actually doing is a trommel on a trailer with a bob cat feeding it. No more no less from what I can tell.

I'm expecting the BM results to be worded that they have improved on the %age gold based on the 30 year old report. I'm also expecting some superlative adjectives in that RNS to attempt to whip up the market but not too much.

I was wondering this morning whether the ECR board would be better off keeping the share price around or below 0.3p and getting a few more million share issued at around 0.3p for the next 2 or 3 quarters. To keep testing and retesting newsflow for another approx 6 months, then announcing a revenue stream, sale of tax losses. Your thoughts?

TalkingSense,

Like every one else you have no clue how long the process for selling Creswick property will be.

ECR admit in then RNS they are at an early stage. Just accept it, you are dreaming up a world that no one knows exists with your "The specialist we employed from the end of last year should have done a lot, if not all, the legwork" We simply don't know, but I have a feeling the RNS would have said something along those lines if true, but it didn't. So I'm taking early stages as early stages.

ECR are funded for the drill programmes taking place in 2024, that is different from being funded for all of 2024.

Let's see if the twitter crew give it another push today to try keep it above placing price.

I think the penny just dropped for a lot of people.

Extraction of the 32% Sb at a depth of 143 metres, is just not economical viable, in my opinion, for ECR.

My view is the tax losses are not the ace in the pack, specialist process may well be a lengthy process.

What is the ace, is the BM alluvial, which should be piled up into a heap leach. The other assets are hard rock and need extensive costly drilling.

So they should stop this well and truly over done testing of buckets of rock chips and retesting, and get on with producing enough gold to sell as a revenue stream.

With people thinking that a large dilution on the way, their own broker stating they need in excess of £50,000,000 in FY24 via equity and debt funding and that the IPO £2,000,000 is spent in stage 1, why don't EPP just get on and get the dilution out of the way???

Lol TameInvester

That's the beauty of what I do, you haven't got a f clue what I traded today, but this is being played like a fiddle by numerous traders. 😉. Be lucky.

Evening all,

Panda I think sums it up well.

So 143 metres down, and for the length of your domestic school ruler, 30cm, that part of the core has 32% Sb.

At a depth of 126.4 metres, and for the length of your standard Amex Gold card, 10cm, that part of the core dropped off significantly to 1.2% Sb.

The closer to the surface you get, the less Sb %age there is, so 40.2 metres down is 0.16%

Table 1 reports samples above 0.1 % Sb, so closer than approx 40m to the surface the Sb falls to less them 0.1%.

Do you know how much it is going to cost to remove / process 143 metres of overburden to get to the 32% 30cm zone, and I'm not sure if ECR knows the horizontal extent.??

Even to remove / process 40 metres of overburden to get to the 0.16%???

Unless ECR intend to drill a zillion cores to get the Sb out🤣🤣

Keep it real folks and understand what the rns says. How many of you have now been left on the Twitterarti spike?? Kicking yourself for flying in on the back of a multiple large X accounts bigging this up?

Reminder

The 32% Sb was found in a single drill core 143 METRES down for the length of a school ruler.

Closer to the surface the Sb %age drops off rapidly

Between the surface and approx 40 metres the samples returned less than 0.1% Sb

There is no plan to get the Sb out

They're funded for the 2024 drill programme, not to mine Sb.

They usually publish results of %age gold found in a bucket of rocks, this time it is results of Sb in drill core. No more, no less

That's the facts!!!

Let's see if the penny drops tomorrow.

So you are fully conversant with the "same" company tests under Australian tax law??? Lol.

Grasping at straws for a positive spin on signing up a tax adviser at the early stages.

Tame invester

"Australian rules on transferring tax losses changed in 2015, the main change being that the "similar" business test replaced the "same" business test. As over 80 per cent. of MGA's losses predate 2015, any buyer will need to comply with the tighter historic rules."

Tighter historic rules.

Read the RNS tame investor.

Any buyer will have to buy the company including assets if they want the tax losses. Of course, in my opinion, ECR isn't going to transfer its best assets into the company it's going to have to sell if it wants to sell the tax losses. So they need to find a company that passes the "same" company test, that went to buy some land to also get the tax losses.

"Happening now"

They've hired a tax advisor and are at an early stage, what exactly is happening now?

Morning TalkingSense

On the basis ECR state in the official RNS that "this is still a very early stage" I'm going to ignore where you stated "no-one knows......., if the broker has already lined up prospective buyers" Just a hunch but "very early stage" probably means they don't have a buyer lined up. Of course that is just my opinion and it's perfectly OK if you feel "very early stage" is in some way code for they have a prospective buyer lined up.

You say probably where the £6k went, because ECR continue to resist naming where the £6k of shares went. What is the name of the person/ company? Why won't they name them? If the shares went to the tax advisor just say the shares when to tax advisor.

Just a guess, but my view is the tax advisor will want more than £6k in shares, so I'm not buying your view the shares may have gone to tax advisor.

To avoid continued speculation, wouldn't it be best for ECR to simply name where the shares went?

Need to close a 16% spread.

I know its probably not that, but on paper peoplecsee it and only 4 buys so far

In my opinion, it's just another example of the drip drip drip of jam tomorrow that the ECR board wants everyone to get sucked into, in a vain attempt to whip up interest.

As has been said, all that has happened is ECR have appointed a company, that I imagine don't come cheap, to start a complex process.

The facts remain, ECR still has no revenue stream and continues to send buckets of rock to the lab for testing and retesting.

Until ECR get an independent measured and inferred figure any rise isn't going to hold in my opinion.

" this is still a very early stage and specialised process. There can be no guarantee that any offer will be received by ECR. "

Very early stages of a specialist process, looking for a same business as ecr that has a few million spare and wants to take a gamble on buying tax losses.

Whilst it good to see yet another rns from ECR, let's keep our feet on the ground

"Australian rules on transferring tax losses changed in 2015, the main change being that the "similar" business test replaced the "same" business test. As over 80 per cent. of MGA's losses predate 2015, any buyer will need to comply with the tighter historic rules"

They are going to have to find a company that passes the "same" business test.