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Agreed that there is a level of mistrust as the previous CEO 'ringing off the phone' statement did a lot of damage.

That's why the price here is suppressed as much as it is.

On the flip side if Hurricane does as the board expects and starts to be proven to be a wider width economical prospect then this will multi-bag from here is the blink of an eye as positive results come in .

Lulworth is a completely different beast when it comes to scale and if/wen any of the Rare minerals or gold get proven (or part proven )there than a £4m mcap is going to be a dot in the rear view mirror.

Of course they have to be on the path of being proven before any of that happens so we will see what the ongoing and continual activity and updates from those two licenses bring over the coming months.

Also I still think that Ballieston is on the For Sale list for ECR...not one of the core assets and should be offloaded with Itagon to boost cash reserves.

* Rammed post

AS pouring cold water on the deramp..the ramped post made me chuckle

https://twitter.com/AndrewScottTV/status/1661290303742181376?t=CoCnAMNzX1Ytqpy1DjLIWw&s=19

And potentially a 10km strike length.

And we are at a mere £4m mcap at the moment.

BOD have options at 1p (3 bag) 2p (6 bag )and 3p (9bag) from here.......shows the potential they feel is at Hurricane and Lolworth

Nice to come back from a few days golf to today's RNS....Lolworth could be a multi mineral monster !!!

From the end of the interview: Is Lolworth & Hurricane on other companies radars?

AH "What we are doing moving forward will stir up interest in certain areas"

What a lovely day for golf!

Tamer I think you mean 3.5m ...not 350m ...lol

Snip, Why would there be major dilution when we don't need to do a placing and there is no need to do a placing?

In today's interview Andrew Haythorpe again stated that

ECR are fully funded for these programmes.....plural....so Queensland all funded for the remainder of the year for the programmes and as discussed before no placing will be required until end of Q3/start of Q4

He also stated that we will not be Diamond Drilling over the next couple of months which would suggest that they will be looking to hire out Midas to top up the coffers and will use the new rig for any lower cost initial drilling at Hurricane.

By the time the placing is required we will have moved the Lolworth exploration on and will have a few sets of drilling results from Hurricane meaning that the SP will not be in the current range.

You and Gina both stated 'cash raise within 4 weeks for sure' on 24th April and that 4 weeks is today and has not happened.

You both seem to have a habit calling raises which do not happen (yes Gino called the Nov raise last year , but also called raises in Jun, Jul & Sept that did not happen)

Well I don't think the Blue Moon results were that surprising.. no-one had high hopes there.

Creswick first drill results were disappointing. We will see if the remaining 4 holes are any better.

No further activity at Creswick this year is no surprise as this was stated back at the last update (well until December anyway) .

AH now gets to move all activity on to the projects he has initiated in Queensland.

I would guess that the Creswick statement means that both drill rigs will be heading up north.

We will see if they split them between Hurricane & Lolworth or concentrate on Hurricane.

Hurricane is regarded as a later stage development so should be easier to pinpoint the gold structures.

The one plus point about the quiet trading in recent times is that the majority of investors are in for the long haul so the volume of trades today won't be as large as if we had a lot of recent, short term traders.

Off to the golf course for the next 3 days, so I'll see you all on Thursday.

Mental, Your not wrong there.

It's all been about the groundwork so far.

Lolworth Li-Ni-Ta find is potentially massive in the mid-long term, however AH was balanced in how he has subtlety talked it up without going too mad as he knows it's early stage and there is a lot of proving up to be done.

It's a bit of damned if you do and damned if you don't on PR. Really push the Lolworth story and he will be accused of "ringing off the hook" publicity. Minimise the PR and he's accused of radio silence.

Personally I'd like them to put the full PR in motion when we have dome drilling results to back up the PR.

Last two Blue Moon results still conspicuous by their absence....I'm still edging towards a sale , either in full or in part of Baillieston being negotiated.

Rather the PR was turned on AFTER strong Creswick drilling results are released

Yep , think so.....filter engaged

Sorry, Your original post was talking about the last 12 months during AH's tenure.

You are now talking about previous CEO regimes which are quite frankly irrelevant when it comes to the operational progress made over the last 12 months and the future prospects of the company

Hi Italian, Sorry to hear that you have not yet had a good return here (I think a few here regret investment in the PJ days).

Notrex, You can't just rock up and randomly pick a spot , stick a drill in the ground and hit gold.

You need to do the groundwork (literally) first and that's what AH has implemented at ECR with well over 1000 samples now taken.

That has enabled targets to be identified and the drilling to commence (finally) at Creswick and the discovery of a potentially huge resource at Lolworth, and not just gold there.

The SP reflects the lack of patience of many investors and also the historic reputation under previous CEOs which has led to some investor distrust. This along with sector sentiment (most junior miners are well down over the last 24 months).

The SP performance is subject to external factors to the company and is NOT representative of the operational progress and prospect of the company.

I'm ignoring the SP and watching the progress and prospects that we are building as a company and am very happy that we are moving forward on multiple fronts.

The drilling results at Hurricane and Creswick will be a great indicator of where the company is heading as well as the ongoing sampling and development of the understanding of Lolworth (which could be an absolute beast).

One thing is for sure, if we get a hit at any one of Creswick , Hurricane, Blue Mountain or Lolworth then the company will move forward at great pace (and the SP will follow).

Traders watch the SP

Investors watch the operation

Dan,

If it were a lifestyle company they would plod along with little activity and cash spend and stretch out the money.

ECR have done anything but that in the last 12 month's since AH took over, so that suggestion is ridiculous.

In the last 12 months we have :

* They have undertaken a much more thorough and rigorous soil sampling and testing regimen at Creswick to enable a more targeted drilling campaign.

* As a result of this testing they have identified a parallel systems (plural) at Creswick potentially adding more value.

* They also ordered the whole bag re-test of the previous drilling results at Creswick which significantly upgraded the results significantly.

* Additional licenses have been granted at Baillieston and Creswick which now means we have 10km strike length of DMS under license.

* They have and are in the process of disposing of non-core assets to generate more cash and enable the company to focus (hence why in a closed period).

* They have undertaking comprehensive stream sampling and rock chip sampling at Lolworth which has given extremely good results 'exceeding expectations' for gold.

* They have identified a 10km strike length of Lithium on the Lolworth prospect

* They have identified a separate 10km strike length of Tantalum and Niobium at Lolworth

* Results show we have a 50 sq km area indicating a potential combined resource for Lithium, Niobium and Tantalum. BOD opinion is" The Lolworth Project has great potential to develop into a multi mineral flagship project for the Company.”

* Two thirds of the 900km2 at Lolworth are 'shedding gold'

* They have completed the purchase of a second drill rig at a discounted price to enable cash generation or to be utilised by the company.

* They have identified a potentially excellent project at Hurricane with multiple at/near surface veins of 5-10g/t and are in the process of completing DD.

* They have increased the company shareholding of the Danglay project to 90%.

* They have completed long awaited drilling campaign at Creswick and have identified multiple other potential targets that they are soil sampling at the moment.

* 30+ veins of gold have been identified at Creswick

* Announcement of the Blue Mountain project acquisition.

* Addition of extra licenses at Baillieston

* Drilling to commence ay Hurricane shortly

* Additional soil sampling at Lolworth to pinpoint the Niobium deposit is being undertaken

Apart from that he's flogged some properties.

A lot of activity for a 'lifestyle company' and they have awarded some options if the SP doubles, quadruples and is 6 x the current level.....Personally I'm happy to give them the full option allocation if the SP is 6x (and beyond) the current value

P1D, We won't know if there is 'gold in the ground' until we get the initial drilling results from Creswick (3-4 weeks) and Hurricane (a little longer) and what the Niobium and gold sampling results from Lolworth are indicating (mid/late summer.

Until then we can't make bold statements either way with any degree of confidence.

The second rig was c£300k to buy ...so would reduce the monthly 'burn' for last year by £25k/month if excluded

Sorry Gino....I was just struggling to see how you could calculate a" cash position of around £200k to £300k" when we received £360k at the end of last week.

We have enough funds for all activities for the rest of the year

There may be further disposals generating more cash

As you rightly point out the Hurricane deal may not be included in 'activities' , but that decision and payment (at the earliest) is not due until the end of October .

So given the above there is no immediate requirement for a cash raise...which quite frankly would be financially suicidal at the current SP levels.

The BOD will surely wait at least couple of months and do the raise at what they must expect will be at least double or treble the current SP with positive news from Hurricane and/or Creswick and/or Lolworth.

Or there are further disposals finalised and the timeline for a raise gets pushed further out.

Morning Mentalmax....I think that is where AH is helping AJ. He is an experienced geologist and is tempering his 'geek' enthusiasm to chase the structures and imparting a more measured and business orientated decision making progress.

They are certainly being more thorough in Creswick and Lolworth with the grid soil sampling approach to identify drilling targets and rock chip sampling.

Does take a little time , but should lead to more targeted drilling campaigns and less HR3 type hit and hopes.

You've obviously not added on the £360k that they received last week?

On 24th April you said "Cash raise within 4 weeks for sure" ....10 days left on that "sure" prediction.

Can't see it happening.

BOD will want to see the results from Creswick and the initial results from Hurricane and the initial Niobium and Tantilum results from Lolworth before they even contemplate a placement.

Any positivity from those results will see the SP 1.5+ here easily and that will be a much more comfortable raise level for existing investors

Gino, the payment for the Hurricane deal would not be due until at least thr rnd of October.

So iIF we have not made further disposals to cover this then we would need to do a placing in late Q3/early Q4 as I said earlier, with the placing to cover this and running costs through 2024.

Absolutely no need for an imminent Q2 placing as you suggest.

A hell of a lot of testing and drilling between now and then and we will only go ahead with Hurricane if the results are positive...and if (when) that is the case then the SP certainly won't be at these low levels.

The difference being that CB stated that in an interview, whereas AH has stated it in an RNS.

Also AH has delivered everything he has promised so far so there is no reason to doubt his word.

And I have always agreed that a raise will be likely in late Q3/early Q4 .......IF no further disposals happen.