Member Info for TalkingSense

Thanks Rx, As informative and balanced a view as ever.

Daramunda, I totally agree that AH not being on the BOD is not an issue.

His name is all over RNSs and he is in many interviews and press releases so is intrinsically linked with ECR and any Google search will find this.

He obviously has thd drive to push the vompany forward and has spent the money well over the last 12 months.

He drilled Blue Moon to see if the good grades extended (something shareholders had been asking the company to do since he 2019 results), did the deal on the second ris, did the Hurricane deal and has brought a more thorough and comprehensive approach yo thr sampling at Lolworth and Creswick.

IMHO the plan was drill a few holes at Creswick and hit decent grades which would have likely catapulted the SP nearer to 2p.

At yhat point a placement would have come that would have enabled Hurricane and Lolworth to have been explored st pace this year.

Unfortunately with the disappointing results at Creswickbthe SP has not risen and the progress and plan for Hurricane snd Lolworth has had to be scaled back.

I believevthere will be progress made this year with Hurricane providing some decent grades/widths which will lead to an SP rise near to AS 2p level which will then enable the placement, accelerating the programme and getting us in to a nice cycle of adding more value at Hurricane by progressing at pace and starting to prove up Lolworths multi-mineral resource including the thorough mapping of both rare earth ridge areas.

There is a plan jn place to add value here and I think we will see this play out over thd coming months...just a bit slower than thd company would have liked.

If there are paid rampers on this board they should all be fired...they are doing a s*** job...lol

Of course there is no possibility that there are derampers on here (obviously there would be no suggestable names for this ;-)....I apologise for putting a balancing statement for the baseless paid rampers point that was made.

Lets have a list of what we know (according to recent posts):

Colin & Phil may have sold all their shares (no hard evidence of this...no Tr1 ....company should release list of current major holders)

AH is not on the BOD as he is protecting his reputation (although he is listed as CEO on all media and RNSs which are a matter of public record ...so this does not stack up as he is linked to ECR)

There will be a placing within 4 weeks of 24th April (gino & snip's post on 24/4....this did not happen)

ECR is being shorted (not sure on that...default holders poor excuse for a falling SP)

Activity has commenced at Lolworth and Queensland (this is true)

Rare earth minerals have been identified on Lolworth on top of the other minerals (true and being investigated further)

There are paid derampers on this board (not proven)

I am Alan Green or a paid ramper for ECR (not proven....but AG and me have never been seen in the same room)

Only a 6 bag from there to 3p then.

With the switch from DD to RC in Hurricane then I would assume Midas will not be making the trip to Queensland and the new rig will be used.

They were probably waiting for the Creswick results before making a decision on the rigs so have only had Midas available to lease in the last week.

I agree that we do need clarity on the holdings (especially if it's a legal requirement) due to the concerns raised.

Interesting to see what reason Rx/Notrex's heard AH give to why he is not on the BOD as I cannot recall him giving one.

If he did not give one in an interview then yet again Notrex is making a BS negative statement not based on facts.

" Sorry TS, but the rationale he gave for not taking up his position on the BoD in the interview was utter BS"

What reason did he give in the interview?

Dan, Glad you think 1,2 & 3p options are low ball.....I hope they exercise them soon and we have 9 bagged from here.

Is there any evidence that Colin and Phil are not still holding (have I missed it) or just speculation?

Yes, we do need to see the register to confirm , but what difference does it make and if they have sold they could have done it after AS's statement., but then they would have had to issue a TR1 which has not been received, so likely they still hold.

The AH not on the board to save his reputation argument put on here by some posters is just utter BS. His name is all over the RNSs and media output and on his Linkedin profile so he is intrinsically tied to the fortune of ECR and he will absolutely want to be associated with the company when he makes a success of Lolworth and Hurricane.

As far as the rigs are concerned , I believe that Midas was originally going to move to Queensland, but now we are RC only drilling the rig will be leased out, but as that decision was made very recently a contract probably has not been finalised yet, I'm sure we will get notification in the coming weeks.

I'm never convinced by the 'shorts' argument....just a poor excuse by shareholders for why the SP is falling.

On the plus side the SP is 15% up since your 13:16 post...lol

Let us know how you go with your request...thanks

When it came to Lolworth and Hurricane the quote was :

"What we are doing is going to stir up some interest in certain areas"

Tamer, He did not say there ARE interested parties.

He stated that he felt that a number of parties would take an interest as the Lolworth story/results play out.

I think you were believing you own ramp there ;-)

I would be surprised if anyone thought that staying in Victoria and delaying Queensland was the best strategy , given the results in Victoria and the initial scoping out in Queensland it does seem that the prospects in Queensland are more likely to provide a commercial resource especially at Lolworth where initial (and they are very early stage) findings and geology could be a future monster resource.

But who knows what discussions have happened behind closed doors

Tamer, Can you explain what you mean by 'wanted exploration to continue over QL'...thanks

Dan,

If either Colin or Phil have dramatically reduced their shareholding (although no evidence as they would have to provide a TR1 RNS) would you see this as a negative as one of the main shareholders has reduced or see it as a positive that a large chunk of the drop in the SP was likely driven by one individuals large selling off?

And what is the last 20% drop based on ?

There is no reason for the drop from 0.4 except investor impatience (the drop to 0.4 was driven by the simplification of the exploration programme at Hurricane and the poor Creswick drill results).

We know that there is activity going on and that there will be minimal results published in the next 2-3 weeks with the results from the start of Queensland activity results starting to potentially flow through end of June/ start of July.

The results at Hurricane and Lolworth will determine where this heads in the mid term.

The prospects at Hurricane and Lolworth have not changed (in fact with the second larger ridge Lolworth looks improved)

A couple of positive grades from either will easily see this bounce back 0.5+.

Dan, I do agree that it would be good to get an update on Colin & Phil's holdings.

Before the next set of results (or disposal news) the SP is at the mercy of the fickle investors/traders on low daily volumes.

Dan, I believe the 60 day vwap will be for the period prior to the decision day at the end of October so plenty of time for Hurricane & Lolworth to progress and get the SP back to better level.

RC drilling looks like it will commence on Hurricane in late June/early July which has been the schedule since the February interviews so no change in timeline there with , I suspect, RC drilling replacing Diamond to save costs.

If that 60m wide vein gives some fairly decent grades at shallow depth then we can quickly gain confidence in the value and commerciality of the area .

The interesting new bit of information on Lolworth that as buried in the middle of the interview is that the is a second possible Niobium/Rare ridge that has not yet been tested (but is planned to be explored) which is treble the size of the 12-20km2 ridge line that is currently being sampled.

Lolworth sizing up to be an absolute beast

Hi Dan, The current value is lower as no proving up of the resource has been done.

When we drill and get some decent grades and widths then the value will increase well above the £3m and we are getting a good deal.

If we don't get the decent results then the value isn't there and we walk away from the deal.

As AH said its a win win as our risk is restricted to the sampling/drilling costs for the next six months and we could end up with a very good commercial resource.

Notrex...when you were Rxdav I'm sure your average was 1.6....bloody inflation ;-)

Notrex, I agree with you (and they said it wouldn't happen)that a raise will be required before the end of the year (end Q3/start Q4 was my guess). As you say they cannot run it down to zero.

Gino's and Snips guarantee of a placement by 22nd May did not come to fruition (no surprise there).

Hurricane drilling will commence in July so we should have initial results from there and Lolworth will have progressed on the geological understanding by then so the SP will not be at the current levels (one way or the other)

Actually makes more sense to drill with the new rig that is multi-functional and lease out the Midas rig for diamond drilling, that AH said in the interview would not be undertaken initially.