Member Info for SuperMonkey

So more than one year has passed on the recommencement work at SML and no news whatsoever.. http://www.lse.co.uk/share-regulatory-news.asp?shareprice=ECR&ArticleCode=lll0hi60&ArticleHeadline=ECR_to_Recommence_Work_on_SLM_Gold_Project_Argentina Either nothing is happening (which i doubt somewhat but could be wrong?) or the NDA's Craig talked about 3 months back could have something to do with it.. cant help think selling SLM for a few quid and focusing on MGA tax loss/projects would be the priority.. Either way, the lack of news is not great. No doubt the BOD are working on things but demonstrating that to the market seems to be lacking.

Yeah it seems to do wonders for a companies SP lately. Ah, well CEO of LION is Cameron Parry, also co-founded Coinsilium and Metal Tiger. Noticed the other day that PJ stated MTR were happy about taking more shares in LION, this was in the form of selling out 180k's worth then exercising 75k's (ish) of warrants so good work for MTR of course. Looks to me the warrant holders of LION may have been given notice to use it or loose it, hence the downward move over the last couple of days as existing shares are churned to raise funds to convert warrants. I suspect that pressure will continue until LION announce all warrants have been exercised and start waving the flag over how much cash has been raised and how supportive the warrant holders have been. Effectively a heavily discounted cash raise really, couldn't comment on weather its been pumped and dumped though.. In terms of ECR though, I think if any company could forward sell gold production via a token issue then ECR/Mercator would stand out somewhat, the tax loss represents a good margin over other companies, no doubt about that. Could even help get around some Chinese capital account restrictions too, who knows.. Oh, ECR will have to find some nice gold grades though, it is xmas after all !!, hears hoping the BOD provide the goods in 2018! still have faith! have a good 1

Could even dig a little further Dav, He's been on plenty of boards, even co-founded Miningmaven with Malcolm Palle Come to think of it, Malcolm Palle co-founded Coinsilium, which our boy Craig joined the BOD the other month, turns out Coinsilium deal with ICO's and token issues along with providing blockchain services to companies that are interested in such things. Anyway, ECR hasn't performed particularly well over the last year but I suspect there's been plenty of work going on behind the scenes. £2.5m MCAP and £1m+ in the bank is a good start, just need some ground activity to push forward. If only there was a way to convert that tax loss into something that looked more like a rebate without causing dilution..?? Hmm, just a thought

Didn't seem to notice a 3.5m purchase go through, kings News late on any SLM drilling start up so nothing new there

My thoughts on that is the directors will allow the options to laps, and beyond that will grant themselves further options at a much lower price than 5p, if reaching the 5p level was the MO of the directors you would see them loading up from the open market, not just one or two k hear and there to keep pi's interested, will be interesting to see q3 details though..

Drilling at slm is yet to start so I wouldn't expect results too soon, from the PI's perspective there seems to be very little activity going on, after months and months of talk any money raised has so far produced around 400m of drilling.. pretty poor effort for an explorer, and of course as the months drift by wages have to be paid. Unless activity begins to move and noise starts coming from the bod, the sp here will at best just stagnate. No longer need to hear about the prolific oz location and its past productions, or about the two operating mines nearby, use the money you have to drill what you have and restore a little credibility to the company.

Well there it is, first set of grades, disappointing could be putting it mildly, turd is what I would call it.. but, and not wishing to defend the results, two drill holes aiming for a vain 140m below surface might not be the easiest task.. at least we know the void drilled into did have mineralisation! but someone's already nicked it!! still early days in the drilling I guess. Sheds some light on the large trades Friday though, looking like sells by someone with impeccable timing!.. good old aim On the plus side I've never known ECR to be on time for anything in the past, and yet the results are out before I even expected! Keep that up! but higher grades next time?

That is correct Ostrowm, although it has taken some time to get to this point! feels a little reassuring that what became a fairly large deposit didn't get converted to shares at 2p ea with no lock up.. With all these shares tucked away for 12 month, sp should now happily move over the 2p mark and onwards as drilling permits also transferred for the first phase.. Think the bod really need to get moving on the ground from now and start developing some projects!

No body is saying you haven't lost money kelladee, the point is that you think the consolidation has cost you money which is incorrect, here is an example you purchase shares @ 1p say 100000 = £1000 you hold these shares they drop to 0.8p pj and ginger doesn't deliver you hold they drop to 0.5p ginger failing and pj on his bike you hold they drop to 0.01p you look at your 100000 shares to find they are worth £10 at this point you say ive lost money... Consolidation then takes place @200/1 your 100000 shares @ 0.01p goes to 500 shares @ 2p = £10 therefore its not the consolidation that has cost you money A subtle concept, I know Anyway licence and drilling progress seems very slow of late, some activity from the company would be a welcome change!

Don't know if you are looking at something different to me riv, but £100k paid.. RNS 6th Mar + £50k paid RNS today balance left to pay.. £400k ish by month end or convert deposit @2p/s and extend terms

Well the sp being under 2p should be expected, tomorrow is the last day for the subscription shares to be taken up otherwise the deposit (100k) converts to 2p a share and the subscription date gets extended.. any move from here depends on the ok for funding and the lock up of all shares involved.. my guess would be a small over run but not long to wait!

This should explain it.. https://www.youtube.com/watch?v=OXypyrutq_M

I really wouldn't expect anything from Dangley, The value at present I would think is zero as there is no issuing of mining or exploration licences out there. Its now basically a legacy project at the back of the cupboard and I doubt the new bod will be spending a bean on it. Its about 15koz to ECR so its interesting to note the proposed exploration at SLM is looking to result in a greater resource, which I suspect the new BOD will make a better job of than Clayson & PJ managed.. Something to watch further in the year. Good to see more focus being put towards smaller high grade areas in OZ (rather than the dumps) as the possibility of finding shallow high grade ore for toll processing could work wonders for the sp, and of course tax free!.. Unfortunately this may bring back numerous toxic and clueless rampers from days gone by :( Anyways could be a positive year for the company!

Cant quite tell when Thakadu will come to an end, in the latest RNS it says Feb 2015, then later on it suggests it will be fully depleted by the 4th quarter, my guess would be from Feb onward's there will be a steady run down of the quantity of ore moved from Thakadu until there is no option but to process anything from Mowana. By the sounds of things the previous mining contractors had some difficulty accessing the required ore from the 90m open pit at Thakadu so there doesn't seem like an abundance of Sulphide ore there currently. I have no doubt the new contractors are excellent at what they do and run their business profitably, this is the best that ACU could ask for, however ACU now have no choice but to move hundreds of thousands of tons in pre stripping in order to access any ore worth attempting to process, this i suspect will eat into any margin for a couple of years. And yes, don't forget 75% of the debt is born by ZCI, im sure there are times ZCI would like to forget this as they keep having to defer even the interest payments and roll it on to the principal debt of $93m so far. They did however look at the possibility of re-claiming some of it a year or two ago by offering ACU for sale... no bids came forward. This would explain why ZCI are looking into all ways to unlock any value in their single investment, no buyer came forward for ACU and they cant seem to make an overall profit as a return to ZCI's investment, so yes you could well see some interesting restructuring/delisting happening soon.. That is not to say ZCI would get a great return or even see its initial investment again. So ZCI does look like it wants a way out and to find more suitable investments. Either way, it will be interesting to see what happens, i just cant quite see how ACU would be able to produce enough copper with a large enough margin to cover its bills.. Maybe ZCI will find an answer..

Well Jerrycraig that may be so, although it is worth noting ZCI has extended the letter of credit and have handed over another $2.5m to ACU so that would make sense, and its also worth noting a reduction in overall revenue from last year which is never a good thing when you consider the ore from Thakadu is of higher grade than that at mowana, and as you will know mining at Thakadu is soon to end. Things don't look good for ACU, or ZCI as the expected move back to Mowana, once Thakadu is finished with, will involve moving all of the oxide ore that isn't to be processed in order to access the sulphide ore (lower grade than Thakadu) which would take a lot of time and money, further reducing any chance of a profit margin. Signing up contractors at a cost of $20m p/a is one thing but gaining revenue from it is another.. With the debts piling up and the inability to make any profit to pay down any debt, i really cant see much of a bright future for ACU and ZCI IMHO. So pass that on to Coppernews and zcifan for me, theres a good chap

With ACU around $6-7k and once Thakadu is empty maybe more 100% Pig

Can never be too sure that wasn't a buy BP, spread narrows and a lift in sp towards the end from the day graph.. Last couple of weeks there's been quite a few decent buys, but no real movement in sp!? Would be good to know how the plant expansion is going... and any finance update for that matter, Baitemir sale approved and 30m in the bank??

Have to agree with that Becomingpoor.. the 'PR' department are pretty slow with handing out info to the market, and the company must have known a while back about the clay content in the ore, although its good to know they have now taken steps to deal with it, i cant help wonder how no one thought it might be a good idea to tackle it two years ago instead of last year.. resulting in production targets not being met.. Still, the work carried out last year should only help this year i guess Baitimir is indeed a long way off, its a nice to have asset and i cant see any way they could attempt to develop it sometime in the near future, Benkala is a pretty big reserve that should keep them busy for a long time and pay off if done well, so a sell off Baitimir would be a positive thing.. But, the waiting continues.. A simple RNS could answer many questions

followed this share for what must be over 5 years now, had some shares through the ZCI funding with expectations of ACU producing 20kt pa.. i think its pretty safe to say that isn't going to happen any time soon, as we've seen reaching 10kt pa has been a real challenge for mowana and unless they find tons and tons of sulfide ore at a 2%+ copper grade 3 inches from the surface, things are looking very uncertain. The ore currently being extracted from Thakadu is sulfide and is best suited to the flotation method that is at Mowana, however once this has been depleted as is expected (correct me if im wrong) by early next year, what will be left is oxide ore from the mowana site. The company can only process this at a loss, hence the write down of mine value due to expected lack of earnings. What i figure is that a mine without access to the correct type of ore is worthless.. Debt is going up year on year with no way to fund it and any JV or company looking to buy this out knows it will have to shell out vast sums of cash to find and access possible ore reserves and to pay out ZCI's loan When you take into account the ore reserves and the production capacity/profitability of the plant , does it actually look like a great deal to be had? so what options does zci have?.. sell off anything here of any value? or put acu into administration perhaps?? all imho.. Maybe zcifan/coppernews would like to give his opinion?

Nice to see some buying over here over the last week or so along with an increase in sp cant help think after last years relatively poor production levels, things for FML can only improve. With the number of leach pads increasing along with a substantial increase in stacking height (and soon aeration) i would think the supply of copper solution to the plant should increase greatly. Even with the past low levels of production the company reported what seemed to be a pretty healthy margin on operations so with an increase in production, so should follow a decrease in associated costs, partly due to scale of operation and hopefully if some costs are incurred in local currency, the margin would be set to improve due to dollar sales. FML doesn't seem to release too much news that regularly but things to look out for over the coming months seem to be - Year round production at Benkala? - increased levels of production? - stacking and aeration of next leach pad to 6+m? - update on plant expansion?? - possible sale of Baitemir/jv to pay down longterm liabilities ????? Time will tell good luck all holders