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Well the grades were increased on the Creswick results and Blue Moon's were still excellent.
The problem with BM was that the extension was not as expected (although they only drilled on one side of the original drililling programme.
Creswick is a bit of an enigma , the drilling results there has been decent (with the exception of AH's hail marry drilling ear the end of this tenure)....however there has never been a plan toward commercial extraction.
It's nice getting 80g/t as we did in 2019 and it's great getting the increased widths at Kuboid Hill.....but good results mean nothing unless there is a plan to extract the gold and turn it in to £££s.
That's what we need ....a plan to monetise, not "here's an extra 1 g/t on the re-test and now we're off to another 8 sites to drill with more results, but no forward actions".
The plan could be to drill and get the results, increasing the data bank and therefore giving more confidence to potential future partners/ buyers.....some clarity on the plan is what we need
Dan....Apart from the 2019 drilling campaigns at Blue Moon and Creswick which had very good results.
* re-test
Dan, It's not the results for the re-trzt that I am most interested in (although an upgrade causing an uptick in the SP would be welcomed).
The main thing I am interested in is what is planned next. Its pointless finding hold if you have no plan to get it out the ground.
The results will move the SP....moving towards extracting the gold will move the company to a different level.
That tweet (is that what it's still called?) cannot be accessed...What did it say?
TI/Toffers, There is no guarantee that there is an agreed JV or JVs.
And TI , there is no way you even have a clue who the prospective partner(s) is/are.
Smells of blatant ramping on your two's parts (unless you can shed some light/ provide evidence).
Dan has provided some context in his belief that something is in the pipeline and a couple of us have provided some information on our ' neighbours' (as Mike mentioned they were talking to neighbours in a recent interview).
Personally I believe that there are/have been discussions in the background, but who they are with and at what stage (just initial chats or near sign on the dotted line?) these are at are pure speculation.
Claiming to know it's multiple parties and who those parties are is just fanciful , and damaging.
IGM could be a prospective partner with a$96m on tap at the end of the year and an ASX listing....they will be keen to be active and adding value.
They are directly on the east border of our license
Intergroup Mining own the 'Brilliant Brumby' license to the east of Lolworth
Interestingly they are commencing mining for Gold and Koalin at the start of this year with a view to also extracting Lithium.
Three interesting recent releases below including the raise of a$15m and a planned ASX listing with post listing funding of a$96m agreed.
https://igmining.com/epsaveeg/2023/12/Intergroup-12-20-23.pdf
https://igmining.com/epsaveeg/2024/02/NR-NMR.pdf
https://igmining.com/epsaveeg/2024/04/Shareholder-Update.pdf
No 'the writing on the wall' just means that an inevitable outcome is apparent ....in Dan's case it is a positive outcome that he sees scribbled on the bricks.
Wow Sausage, You really didn't get my sarcasm of 'I guess'
Anyway looking forward to the upcoming results of the holes with greater widths as reported in the previous RNS.
And while you need to use the internet to garner information I prefer to share links to help people.
So here is one for you (You're welcome)
https://socialself.com/blog/stop-being-condescending/
*round of gold = round of golf (lol)
Sausage,
Doc's (*My ...lol) post contains the phrase "our pending best holes due shortly" ....that's a tricky one to interpret , but I would guess that means the best holes (the ones with the greatest widths) are due shortly.
Also the link in my 17:00 post give you all the holes with the greatest widths...I'll post the link again although I cannot believe that you actually missed that and I'm sure the investment community will be reassured once you actually read the information the company has provided.
Would love to stay and play today, but got a round of gold to play.
https://www.lse.co.uk/rns/ECR/creswick-drill-results-indicate-larger-ore-bodies-d3tegaz5yaj4oao.html
Significantly, this drilling campaign has demonstrated quartz/gold mineralisation continuity in the Creswick area with results having the hallmarks of a potential future small scale operation.
HIGHLIGHTS
● Two high grade results of 8.87g/t Au and 8.06g/t Au over 1 metre.
● Far more significant is the extensive broad mineralisation demonstrated in several holes where contiguous gold is present at 3.05g/t Au over 3 metres, 2.25g/t Au over 4 metres and 1g/t Au over 5 metres.
● This compares very favourably with historical mining operations elsewhere in Victoria with broad mineralisation where those grades averaged around 0.7 g/t Au.
● Aggregated 51 metres of mineralized quartz.
● The drilling returned significant intercepts with evidence of anomalous gold within 14 of the 15 holes drilled.
● Bulk sample testing at Creswick has indicated in the past both greater prevalence and higher grades of gold and this is being carried out now on the results for Kuboid Hill.
Thank you Mr Pedantic.....
The bulk sampling re-tests were for four holes.
The initial results were for the last two.
If you read the previous drilling results RNS you will see which holes reported results over greater widths (as you have great knowledge I thought you would have known which ones I was referring to). I've put the link below to help you
https://www.lse.co.uk/rns/ECR/creswick-drill-results-indicate-larger-ore-bodies-d3tegaz5yaj4oao.html
And, as you say , they probably need to get a greater amount of drilling information to get to the position of being able to infer a resource which is why I wanted the next steps to be progress 'towards' that aim.
And how will the SP react to the remaining results....INo-one will know until we get those results (but thanks for your guess)
As requested Sausage...link below
https://twitter.com/DDS_DocHoliday/status/1787729616087466255?t=dH_PKYhjp1YSdTpcqaolNg&s=19
And there was never going to be a huge reaction as this week's RNS was only for the first four holes which were not the higher width/grade holes.
There will be more interest around the remaining 11 holes including the 'interesting' ones.
Will that be enough to shift the SP significantly ....????
Hopefully with the full 15 holes results we will also get an update on the next steps at Creswick .
As you say Sausage , a plan towards getting an inferred resource there would be a major boost.
We will wait and see.
These are encouraging and are for the first few holes.
The holes that had the greater widths are yet to be reported for the re-tests.
Even Mentalmax may get enthusiastic if they return similar upgrades ;-)
Will be interested to see the Antimony results from HR3 as well....plenty of activity to come (any of which could re-rate)
- Remaining Kuboid Hill re-tests
- Baillieston Antimony testing
- JV potential
- Tambo drilling
- Blue Mountain progress towards production
- Lolworth sampling and trenching results (and then move towards drilling)
- Baileston sampling results & potential drilling programme
- Lolworth REE testing
- Tax Credit monetisation
Morning Sausage,
For clarity (and potentially lawyers), On this public forum are you accusing the COO of a listed company of dishonesty posting under an assumed name to influence the SP and breaking a number of AIM/market rules?
Thanks Sausage.....They have repeatedly stated they are fully funded for all planned activity until the end of the year , but as you say , if more funds are not received (if they do not sell the property or monetise the tax losses) then I would expect another raise around October as they won't let the money run as low as Andrew Haythorpe did last year.
Yes, they are repeating the same stuff across platforms as they can only express their current plans.....There are plenty of examples of BOD's making outlandish claims , but the current ECR board have done no such thing.
Yes , they are not selling gold, but that's because they are an explorer and not a producer (at the moment ;-)
What have they achieved.....In the last 6 month's they have the excellent initial gold sampling results from Lolworth, Have raise over £1m to put the finances on a strong footing, disposed of unnecessary assets, completed two drilling campaigns at Creswick (one with a best result of over 40g/t and one that found a wider vein system that had previously be found at that license, acquire the Kondaparinga license next to the Hurricane project that they rejected (due to the c£5m price tag) , re-examined the Blue Mountain historical results to identify further areas of trenching and exploration with the potential of up to 100,000 grams of gold, planned initial work at Tambo, managed costs effectively, employed a specialist to look in to the potential disposal of the a$75m tax loss and aligned Directors with shareholders by being paid in shares only and not running a 'lifestyle company' like so many other companies......apart from that they've not had much activity.
I've ever heard Mike use the phrase "absolute beast" and my head is on the other way up ....the hair's on the top ;-) (Sorry Mike if you are reading this)
Thanks Sausage, You're so kind.
No, not and employee of ECR (and I'm not going to do the petty thing and start to accuse others of being paid derampers)
......I just pay attention to the actual news and activity from the company and cut out the 'noise' and ramping/ deramping that there is on a lot of on BBs.
My guess is that there is one big seller that is riving down the SP (one of the 0.175 placing takers probably) .
I can't see why there would be another reason for someone to be selling 2.5, 3, 4, 5 million share chunks at the current level.
The upcoming activity and potential property disposal and other potential revenue generators has been in RNSs and interviews over the past 6 months for all to see.
I just asked myself if there are many companies out there with a c£4m mcap who are fully funded for the year, have multiple sampling, trenching and drilling programmes, have assets the quality of Creswick , Blue Mountain and especially Lolworth.....I mean did anyone actually look at the Lolworth sampling results from last year ??? ...one was over a kilo a ton (and yes that is an anomily and not the norm....but there were excellent grades with an ever increasing area of gold potential) and that's not even mentioning the REEs and Lithium......Lolworth could become an absolute beast!
Fully funded so little risk in the near term, and multiple potential game changing activities/ opportunities ....and that's why I've topped up another million shares over the last week.
Techtonic, I agree that the BOD need to temper their optimism a bit and stick to the activity and be a little more pessimistic on timelines.
There is plenty of activity coming up and as you, pre-empting an improvement in grades leaves little upside even with positive results.....just say that they are being re-tested to be thorough/ get a full understanding.
I think the narrative is hijacked by some as there is a great deal of actual positivity as far as operational activity is concerned....we've move away from lumbering from one piece of activity every quarter to starting a drilling programme at Creswick within 3 or weeks of announcing and having upcoming activity scheduled in Tambo, Lolworth, Blue Mountain and Baillieston.
The BOD have put their foot on the accelerator as much as you can reasonably do in an exploration company and I am confident that ECR will be in a much better SP range by the end of the year (probably with a number of swings on the way)