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a quick summary of yesterday's rns (not utilising twitter):
ecr minerals plc said it will carry out further trench sampling and drill targeting at its lolworth project in queensland after a review of the exploration work over the past 12 months.
highlights from 2023 were rock chip samples of 22 grammes per tonne (g/t) gold with stream samples of 205 parts per million (ppm) at reddy creek; rock chips of 13.75g/t with stream samples of 1,395 ppm at gorge creek; and stream samples of 962 ppm at butterfly creek.
adam jones, ecr’s technical director, said lolworth was taken on as a 'greenfield' project that had the potential for significant discoveries.
“our work in 2023 has gone some way to endorse that, proving that gold exists in multiple places within the project area.”
mike *******, chief operating officer added: "the conclusion of the 2023 fieldwork season at lolworth has given us a solid platform from which to plan the next stage of our reconnaissance programme.
"we have identified several locations to hone in on and we believe that there are still other gold sources that can be followed up over in the coming year. alongside the gold, we also have found the presence of the sought-after niobium-tantalum rare earth minerals.”
So 5 posters (one of which is a Director of a company and one of which we know is a holder of some of the recent placings) is a "massive coordinated effort".
Wow, those 5 must have literally taken over twitter.......is ECR trending?.....lol
Yes, I think we have all (except Tamer perhaps) agreed that it's solid results that will ultimately drive this.
The drop from 0.26 is unwarranted though given the positive progress in yesterdays RNS (there was no 'bad' news)
It just takes one large seller (or buyer) to move the dial at the moment unfortunately
Just as you thought volume was starting to pick up we get news and a lowish volume day.
c12m shares sold and we drop 12%.
The content was actually positive and certainly didn't warrant the drop we've seen (and didn't warrant a massive rise as well ...just for balance).
I'm sure we'll get a small tick back to 0.25 tomorrow if past trends are anything to go on.
And absolutely agree that actual results are going to be the only catalyst here for a sustained increase.
Let's hope the Creswick drilling results are decent.
Three things that are sure in life:
Death , Taxes and ECR dropping on a positive RNS...lol
Someone dumped 4m shares @0.235 an hour ago....that'll be the reason for the drop
No , obviously finished his trading here....now just posting on another board.
Nice to see the board back to a more civil footing
Good to see Sausage's usual post RNS rant against the Twitterarti.
Some of the investors in ECR including the individuals who took the placing are some of the main players on twitter, so they will naturally post when there is news.
Although saying that , while I am on Twitter I don't take notice of the 'tips' from the usual suspects (it doesn't take long to figure out who they are with their followers(or sheep))....They claim large returns/successes ...but don't mention that those 100% rises were usually followed with falls that the sheep are left carrying the cost of.
The lesson is always DYOR (as I have done for ECR) and you can spot the true investment opportunities as opposed to following the wolves leading the sheep to the short term slaughter.
Yes, Blue Mountain is a strange one....got news of the acquisition and then.........nothing
It is a positive RNS , but e are (literally) just scratching the surface at Lolworth.
First the negatives........none yet
Then the positives:
We do have very strong stream sampling results which are backed up by soil sampling and rock chips , so good confirmation factors at this stage (and if you look back at previous RNSs the results from Lolworth have been consistently positive)
But it is early stage and that's why it's not (yet) a big SP dial mover.
Moving on in to 2024 we will be going deeper at Lolworth with trench sampling and drilling through the year and that's where the value to the SP will really kick in.
The lithium/Niobium soil sampling results are still to come in the short term.
And they have identified other areas of interest for both gold and REEs.
As I've said repeatedly 2024 will be a massive year for Lolworth as we go sub surface and start to realise the value that is locked in there
Not good news for traders today, but more encouragement for investors.
And that's why you were 'absent' from posting for most of that day after a poster admonished your baseless ramping and claimed it was detrimental...and had multiple posts agreeing.
But at least you are big enough to form a reasoned argument and not resort to childish name calling.
Nice to see some liquidity/volume returning to ECR.
Now, let's see what the RNSs bring over the coming week or two.
Have a good evening All!
Year old news......zzzzzzzz
Toffers, Herd mentality will always play a part in AIM companies (unfortunately there are a lot of wolves that prey on the sheep).
Personally I would like to see a sustained steady rise based on the positive development of ECRs licenses rather than a stampede in , 50% rise and fall as the P&D brigade comes charging in, takes a profit and leaves their
'followers' (sheep) to pick up the bill.
The Mcap is very low here so we could see sustained double digit % rises over consecutive days on positive news.
And Tamer, Yes , utilisation of the tax credit would multi-bag the SP immediately.....BUT we need to be making profit to utilise that , or have a RTO type JV agreement, both of which we do not have and have no formal communications that they are imminent.
Thanks for the nudge Tamer.....It is time for another coffee ;-)
Still surprised that we are trading with an mcap below asset value with absolutely no potential built in to the SP currently.
Any reasonable results from either of the RNSs should see us easily in the 0.35-0.4+ range in short order.
Fully funded for 2024 and 2 x RNS due.
It would be good if we got an update on how we are progressing on the 'potential drilling targets' at Lolworth as Adam said that there would be a chance that he will have identified the targets in January.
Creswick is merely the starter (let's hope it's a tasty one) with Lolworth being the main course this year.
It would be good to get some positive progress on both fronts.
Toffers, Greatland SP rise was driven by a proven resource and an agreed JV.
Neither of which ECR have (at the moment !).
A couple of 1m+ buys yesterday is in no way an indication that an RNS is imminent and screaming that (Tamer has called about 50 RNSs and a dozen JVs in the last year based on 'signs' ...lol) does not help the SP.
In fact Tamer was broadly criticised on the board last time we had positive news as he had set expectations unrealistically high with his claims and the positive RNS was therefore not as well received as it should have been and probably dampened the rise that occurred.
There are two RNSs due in the coming weeks and hey will arrive when they arrive.
The Lolworth REE sampling RNS is the most interesting for me (Lolworth will be the long term flagship licenses IMHO and has massive potential on both gold and Lithium/Niobium/REE).
Creswick drilling results are the other results , and on that one we should not expect (or set expectation of) Southern Cross style grades. It it a shallow pathfinder drilling, so any reasonable grades with signs of gold in the vast majority of drill holes would be a positive result and give optimism that the DMS can actually deliver.
That drilling is as much for potential partners as it is for investors as they will understand the geology better than us laymen (although Tamer 'likes the look' of 3m of the drill core....lol).
I am optimistic with ECR and heavily invested, but don't want to see it overhyped prior to news.
The results and the progress will speak for themselves (I hope) .....time will tell.
Not saying a JV is imminent...We know they have had discussions with a number of parties, but no-one knows the nature of those discussions.
Hi Toffers,
4p = c£65m mcap.
Need a confirmed resource to hit that level so on that front very unlikely to hit that any time soon as will take time to prove.
The other route to that SP would be an agreed JV which is the shorter timescale route....and we would need some positive results from Creswick.
We don't necessarily need 'commercial' grades from the first set of drilling.
Any prospective partners will have an understanding of the DMS geology so will be looking for confirmation of structure.
Of course investors will be looking for some decent grades as we have less technically gifted and just like a nice big number on the gold grades on which to buy in.
Bought back the 500k shares today that I sold for a quick trade elsewhere earlier in the week....pleasantly surprised to get them sub 0.26
Mike W said that there was a possibility that the Lolworth REE sampling results could be ready by the end of the year (he did not say they would be!) so I believe they are imminent.
Obviously Davey Road drilling results are also due in the coming week or two.
0.254 to buy on HL
What a surprise....10% down from the 'pump'
If you are following 'recommendations' based on no news on BBs it's the quickest way to a loss.
"Sheep get slaughtered"
Good luck to all LTHs here