Member Info for Sausageonstick

"Within 3 years, PDC to develop at least one of the Midkine antibodies within the SPV to the completion of a Phase 1 trial and then, upon success, to complete a trade sale of the SPV"

£584,915 (after issue discount and fees) ("CLN Offer"), to bolster the Company's cash reserves and provide sufficient funding, in conjunction with existing cash reserves, for the Company for at least 12 months

Put it together folks, the money isn't arriving for at least a year and potentially 3 YEARs.

If you want out, todays spike is an ideal time to do so

LOL, lots of people going to get sucked in here by the Twitterarti crew today.

Read and understand the RNS,

1) signing of a term sheet for the out-licensing, yes but...

- guaranteed share of the trade sale proceeds on successful completion of Phase 1 clinical trials

- PDC will develop one or more of the Midkine antibodies within a new Special Purpose Vehicle ("SPV") to complete the Phase 1 clinical trial and then seek a trade sale of the SPV

- exclusivity to 31 December 2024

So the trade sales only happens after successful completion of Phase 1 clinical trials, but

Within 3 years, PDC to develop at least one of the Midkine antibodies within the SPV to the completion of a Phase 1 trial and then, upon success, to complete a trade sale of the SPV

So PDC have 3 YEARS to complete Phase 1 trials, so any trade sale proceeds could be 3 YEARS AWAY !!!!

Roquefort Therapeutics will receive circa 24% from any successful trade sale proceeds, which if the Phase 1 trial is successful

ONLY if the phase 1 clinical trials which could take 3 YEARS are successful will ROQ receive it's cut of the money.

Roquefort Therapeutics is now working with PDC to complete due diligence and has commenced the drafting of the definitive licence agreement.

So the deal isn't even signed, and they have to do due diligence on all the data, and we know the history of ROQ's data don't we (if not Google it !!)

If the deal was so good and they are expecting the money soon, why then issue a RNS stating

Roquefort Therapeutics has received commitments for £655,000 of convertible loan notes to existing and new investors to raise net proceeds of £584,915 (after issue discount and fees) ("CLN Offer"), to bolster the Company's cash reserves and provide sufficient funding, in conjunction with existing cash reserves, for the Company for at least 12 months,

So they clearly don't expect the money in the next 12 months as they've just issued a death spiral CLN offer to cover the next 12 months.

Back to bed folks for potentially the next 3 years.

Read both RNSs and understand them.

Anyone else expecting a TR1 in the coming days as people who have been locked in here for years finally get out today.

Good luck,

Toffers

ECR need a completely independent, so no one directly employed by ECR, and definitely not Adam the geologist, to offer credibility in the mining world to issue an inferred and measure statement with respect to the gold. Simply telling us how much gold is in a bucket isn't, IN MY OPINION, going to shift the share price much.

Dan

"I'm sure that there was a belief of the board that interviews and Twitter PR alone would double the SP" Personally I can see through the scattergun approach to media outlets, especially now knowing Andrew Scott connection with ECR. It feels to me, MY OWN OPINION that ECR are keen to constantly get a message out to market, unfortunately there appears to me (IN MY OWN OPINION) that there is very little progress between each media episode (episode being define as a whole group of media contact saying the same thing, e.g. the same video interviewing Adam the Geologist has appeared in Doc Holidays tweet, ECR reposted, Sharetalk and StockBox over recent days). News rich period but it all seems to be very similar news that's released, eg how much gold is in a bucket or ECR are going to do some reconnaissance/ pilot testing or rock chip sampling/ trenching/ drilling.

"The long term strategy needs to be communicated, the "no guarantees" and "we may never have a mine is Creswick" suggests there isn't one." I would wholeheartedly agree with you Dan, by now, having raised over £100,000,000 over a 6 month period based on the RNS dates, I would (MY OWN OPINION) have expected ECR to have started to formulate and publicise a broad brush approach to becoming a producer or inform the market that it intends to firm up the inferred and measure statement and sell the whole lot to a buyer. As far as I know, there doesn't appear to be a plan after the 2024 programme of activities. In fact the only activities out in the field that I'm aware of are more rock chips samples, trenching and drilling.

TalkingSense

"agree with him that this will only multibag" I never said 'multibag' so please be careful not to attribute comments to me that I clearly didn't say.

i did wonder why the stockbox bloke andrew scott said "our chief geologist adam....." it seems andrew scott is a non-executive director of ecr (https://ecrminerals.com/about-ecr-minerals/#directors-and-management). his photo is below mike *******.

looking at the audited financial results for year ended 30 september 2023, a scott was was paid £30,000 for the financial year ended 30 september 2023.

the above is a statement of facts, but i can see now why ecr appear on stockbox so often.

"prospects at Rukwa, where operations have remained challenging, with limited coal production. The operations have been on hold recently due to the rainy season. While local mining staff were on annual leave during this period, they return to the mine this week to prepare for a new production cycle. Demand in regional markets continues to appear robust. Following resumption of normal activities, the Company will review its targeted production rates and provide further updates as appropriate"

Updates on

1) New production cycle.

2) Demand in regional markets.

3) Resumption of normal activities.

4) Targeted production rates.

"In addition, the Board is continuing to review potential acquisitions of additional advanced mining and mine development projects located in Africa, including one such opportunity which is being actively progressed and meets the Company's key acquisition criteria, with a focus on a commodity other than coal. While the Board is excited by the potential of the opportunity and has concluded its due diligence there can be no guarantee that any transaction will proceed to definitive documentation, or as to the eventual terms or timing of such transaction. "

Updates on

1) Board is continuing to review potential acquisitions

2) One such opportunity which is being actively progressed and meets the Company's key acquisition criteria.

3) Concluded its due diligence, so what next?

Lots that could be updated on here, wonder why nothing is being released??

Dan, I never said it was a negative re: "ECR spending the vast majority of their money in the ground".

Do you think I meant it as a negative? It is simply a statement of fact, as ECR has told us over and over again on Stockbox and other media outlets , money goes into the ground is what ECR infers to. I'm not sure why you are p155ed off with a statement of fact as stated by ECR several times.

Oh and why did Andrew Scott (Stockbox) state at the start of the interview "Our Chief Geologist Adam...." Does Andrew Scott the media chappie work for ECR?

Of course ECR need to some test results, again you seems to be jumping on the negative. The 2024 drill programme will give ECR more results, I don't see these results IN MY OPINION, adding a large amount of shareholder value IF (and that is a conditional statement of two parts that need to be considered together)and I'll state it again IF IF IF by getting these results it leaves ECR in a position where it need to dilute again. My own opinion.

The market has had no public statement from ECR on timescales to becoming a gold producer, in fact I'm not even sure ECR wants to become a gold producer. Certainly the 2024 programme as stated by ECR does not currently include any mention of timescales to becoming a gold producer. Do I think, IN MY OPINION, ECR will need to dilute again after the 2024 drilling programme, yes, but that is my own opinion based on the facts as published by ECR.

I forgot to add a conclusion.

In conclusion, with ECR spending the vast majority of their money in the ground, for that money they will get a bunch of results and still no revenue stream. I'll be holding off investing here until (in my opinion) the next placing occurs.

99% of the news flow will be jam tomorrow.

#1 ECR are an exploration company, not producers. They have no declared income but they are spreading themselves and the ££ very thinly over multiple area.....

- Reconnaissance Tambo

- Analysis Antimony core

- Trenching Lolworth

- Trenching & pilot testing BM

- Drilling Tambo

- Drilling Lolworth

- Paying a tax specialist?

- Nomad fees, listing fees etc etc

- Salaries (including the £1000 a month to those that get it)

What will ECR get? For all that money going in to the ground they will simply get a bunch of results.

18 Sep 2023 07:04 raised £580,000, less than 6 months later based on RNS dates 14 Mar 2024 07:04 raised £585,000. So over £1,000,000 raised in less than 6 months.

After the 18th Sept raise they spend enough of the money to warrant going out to get £585,000 more. So looking at how thinly they are spread, how long will it take to spend enough of the 14th March raise to go out and raise again? ECR will say that they are an exploration company and that is what exploration companies do. Raise funds (dilute your shares) and spend it in the ground.

So what am I expecting from the 2024 drill program, a set of results that says they have gold on the surface based on rock chips in a bucket. I expect them to say they have some gold at depth based on the core sample drilling that will take place (ECR refer to it as drilling to give an impression). I expect them to come back with 'new and improved' figures. But I also expect them to raise/ dilute another £500,000 to keep the lights on.

Toffers, ECR have already said they have found gold in rock chips, just look at the results they have already issued, and look at the share price. What have those results done for the share price, I'll give you a hint, sp sits below the last placing price. Results just simply tell us what most people in Victoria and other places already know, there's gold kicking around. Testing for gold in Victoria is like shooting fish in a barrel., but there are reasons why ECR never became a gold PRODUCER before or why another company hasn't snapped these licences up. You can guess why.

When will interest come? In my opinion when they offer more than results from a bucket of rock chips. Independently (outside of ECR) confirmed measure and inferred gold, and concrete funded plans on how to become a producer to sell the gold to create an income stream. ECR has no publicly declared revenue currently, only outgoings.

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I'm guessing you are joking, I have a feeling your reply would have been that while he waits for the election to end and Roland to turn up in India in early June, he may as well get some cricket in.

Lar, we will leave your 'but' alone.

True Gordon, none of it matters. It's just a bit of fun on a bored Wednesday morning.

We simply await any announcement on a potential trip to India for Roland in early June and the signed off of the JV post the elections. Until then there isn't much to discuss I guess

Yes Gordon, that's why I wrote '18p buy' as opposed to 'a buy at 0.18p'

Exactly dv, you get the irony

Hardly earth shattering if syn has an 18p buy at full ask.

Any way we go again and a day closer to potential India trip and sign off of JV

Carrot stated "0.12p paid looks like Roland has packed his suitcase."

Where it was actually an 18p buy that was at full ask

🤣🤣🤣🤣

He's probably got his Imodium packed already!!!

3 x £5,000 dumped in 33 seconds and still up 2% on the day. Let the doubters out and fresh money in before lift off.

I'm definitely expecting an increase in interest over the next 9 days.

Fingers crossed for a steady flow of blue buys tomorrow.