The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
And in his last interview Mike confirmed that a major miner had gone in to the ECR data room as CB had claimed.....so the assertion Sausagd made that there would be no interest from potential JV partners until alot further down the line does not ring true.
He also stated that ECR would consider small scale production themselves if the geology and financial were favourable.
POG is obviously relevant as it increases the value of hold ginds and the value of any JV deal.
Also general interest in investing in gold explorers will increase as the POG goes up, helping the sector SPs increase.
Kuboid Hill results will drive the SP in thr short term.
Yes, the POG is a factor in sentiment, but it is in no way the main driver of the ECR SP at this time
Casapinos,
Apart from your debt figures being totally incorrect, you also have not mentioned that, although cruising numbers will increase, this will be outpaced by the increase in cruise capacity as new ships are introduced.
Supply & Demand will tip in the cruisers favour with fares (and margin) being lower over the next few years.
Awenpawen123,
Of course the quickest way for a major to get the tax losses is to wait for a few decent exploration results from both Creswick and Lolworth and look at the data so they are confident in the resource.
Then make a 1p per share (£16m) offer for the company (which would no doubt be accepted at this time)......You get the tax losses transferred and all the licenses effectively for free!!!!!
If only ;-)
The basic problem is that the debt will need to be serviced and isn't significantly diminishing
Worldwide cruising capacity and new players (i.e. Virgin) is increasing with more and more new ships which could lead to an oversupply and therefore more competitive pricing, cutting the margins.
Both of these work against Carnival.
It will also be interesting to see the impact that the larger ships have on the customer experience and future repeat sailors.
On P&O if you exclude Britannia (just a terrible design , no central staircase was a huge fail) you have Iona and Arvia which are huge and (especially in Arvia's case) seem understaffed in many areas which diminishes the customer experience.
This and the increasing prevalence of additional 'tourist taxes' and Spanish 'cruise ship alcohol taxes' and some restrictions in ports on cruise passenger numbers mean that the experience is not improving and the likelihood of repeat cruisers is at risk
AR,
The tax losses are attached to Mercator (MGA) which is 'old' ECR (originally from the 2000's).
All of the licenses in Victoria are currently under the MGA holding.
For the tax losses the high level rule was that there had to be 'continuity' of ownership.
So We could for example (as far as my understanding goes) transfer out all licenses except for one in to LUX or ECR and then sell/JV the remaining licence as MGA along with the tax credit to another company and the tax loss then has continuity.
The above is very simplistic and obviously there will be more legal complications that this, but that's the basic principle.
I'm sure Doc/Nick will be looking for any loopholes that may enable the Tax Credits to be sold off as a standalone.
A nice 5m buy reported after the bell today.
A lot of big buys and very good volume through the week...although a little quieter today.
Will be interesting to see how the SP reacts after the Kuboid Hill results
A decent volume day again with 50m+ traded.
IG...Someone is hoovering up ECR....a lot of buys of 1m+ shares in the last day or two.
Think we are on for another little run over the next day or two.
The MCAP is way too low for the potential here IMHO and with activity and potential on so many fronts it can't be held down much longer.
Still wrong TI.....Gold now a touch over $2200 ( a couple of years ago everyone was getting excited when it his $1750)
Buy orders filled @ 0.3
Or will it be the sale of the property that raises the cash.
....or the monetisation of the tax credit.
.....or the Fosterville South payments
(it sure as hell won't be the Argentina payments....that was a dead duck).
The next cash injection to the company won't necessarily be through a raise
Morning Oiland,
They don't have to 'ramp' the company to get their salaries paid as they are paid in shares.
I believe Doc has business experience including (from memory) fund raising for a drilling programme, I think in the med .
Nick Tulloch who came to the company with Doc also has a wealth of business experience
Since they have come to the company they have sorted out the funding issue with ECR fully funded for G&A and all exploration activity for 2024, completed two drilling campaigns in Creswick (awaiting results on Kuboid Hill), accelerated the sampling programme at Lolworth with excellent initial results, stopped the overpriced Hurricane 'merger' and got the Kondaparinga license which is adjacent to Hurricane, and outlined the exploration plan for this year including another two drilling campaigns, sampling, activity at Tambo, trenching at Lolworth and a number of other activities.
They've also sought advice on monetising the tax credit ECR (MGA) hold, got planning permission to increase the saleability /value of the remaining property and increase the SP from the low 0.2s to in the 0.3s where we now sit.
So not a lifestyle company sitting on their hand , but a fully active company whose BOD is aligned with shareholders and with many 'game changing' possibilities on a number of fronts.
Would be a buy at the SP St the end of the day.
Not really important.....Good volume this week and ended level......bit of a roller coaster through the week.
So no change in the SP for the week but another £500k in the bank account and two more drilling programmes confirmed.
Delayed 36m buy just gone through from end of play yesterday
So a week ago the SP was at 0.31
Now we have £500k in the bank, exploration for the year is funded and the SP is at 0.35.
Likely the placing was arranged a week ago at no/minimal discount to the SP.
And some are framing this as a negative?
Mental, the placing would not have been agreed and signed yesterday do the 0.3 price is likely on or ahead of the SP when it was agreed which shows the takers of the placing have faith in the company.
Disappointed that the momentum here has stalled, but as you say the drilling results will be key to reignited (or not) the momentum.
I'll stop posting for today as it will (has already) deteriorated in to one line trolling and arguing.
GLA , whatever your strategy here.
Just to put it in perspective, the placing price is only 0.01p less than the closing price last week and higher than the SP has been for the last 6 months.
The trolls (morning SV) will try and paint this negatively, however bar the last 3 trading days this raise is at an excellent price.
The BOD and suppliers are aligned with shareholders in wanting the SP to rise and we have activity planned now at multiple licenses in Queensland and Victoria.
The SP will have an initial dip today (will likely finish ahead of last weeks 0.31 close) but will bounce back.
Kuboid Hill results to come and if the are positive (indicators are good) then the 0.3s will be well in the rear view mirror.
Not just for Queensland...on multiple projects.
Going to be a lot of newsflow.
First on the taxi rank: Kuboid Hill drilling results
LOP,
I would expect that the full results for all 17 drill holes at Kuboid Hill will be released in one RNS.
They drilled 17 holes at KH.
What will be interesting is to see if 17 was the original plan or if the geological information they found as they drilled led to extra holes (did the reef extend?).
Davey Road and Kuboid Hill are the first two of over ten identified target areas at Creswick and if these results are successful the company is looking to repeat the method and results at the other identified areas , so plenty of Creswick/Victoria related activity and newsflow to come.
0.4 is a c£6.2m mcap........still massively undervalued IMHO.
Could easily go £16m+ mcap (1p+ SP) on good drilling results
Fully funded for 2024 !
Drill results due from Kuboid Hill
Plan of action at Lolworth should be forthcoming in the next few weeks.
Deal on the tax credit ????
A lot to come from ECR and should have good newsflow through the summer