Member Info for TalkingSense

Tamer ....We don't have a JORC in the Philippines as PJ as usual did not do a thorough job ....he is responsible the high risk territory issues we had when CB took over (absolute gambler..PJ that is)
The NI43-101 resource is an internationally recognised standard (I think it's Canadian) , but it is not JORC compliant.
So it will be recognised by other companies who may wish to JV/buy , but would need to be added to to get a technically full JORC compliant resource.

S&1tVW (see I am clever and can do it too).
Thank you for confirming what I previously put..... that we have a proven (NI 43-101) resource of 63,500oz at an average of 1.55g/t
Of course commercial viability cannot be confirmed until you do a costing/feasibility of the entire resource site, which had not been done when GOP shut down the industry to foreign investment 7 years ago.
You cannot say for sure either way on commerciality...all I can go by is that the SP multi-bagged when this proven resource report was released which would indicate the likelihood is it was regarded as viable.

Ok so your argument has shifted from it's not proven (as that opinion was proven to be wrong) to it's not commercially viable (chortle)
I'm sure as you've been around a while that you can remember when the SP rose 6 fold+ upon the release of the NI43-101 resource estimate which would indicate that popular opinion was that is was commercially viable.
It was only the GOP closing mining to outside investment that killed the project dead at the time.
Now that the GOP are opening up to foreign investment again the value of the project is being re-ignited and with the much higher gold price one would assume the commercial viability remains.

HI Snip, Thanks for the childish name calling.

Itagon has 63,500 oz as a confirmed resource to international standards, so that is proven.
The higher number you quote is the inferred resource (not proven) for the remainder of the license ...I have made it clear that the high number is not proven in previous posts.
The 63,500 IS proven at Itagon.

So one or two of the original Creswick licenses were obtained for nothing at the time (I cannot remember if the old company owning it went bust or what the circumstances were....that was a decade ago?), but ECR has added many more license areas and recently conducted extensive ground sampling and underground sampling which have produced decent grade and identified not only the main DMS , but a parallel gold system...under no circumstances can this be regarded as worthless.

I'm assuming as you are quoting ECR from a few Directors ago that you are carrying a double digit average and are just bitter that you made a catastrophic investment decision at the time ?

Snip....in what way have you come to the conclusion that Creswick is worthless..Where's the evidence of that?
Given the latest sampling results had some tremendous grades I don't think that statement stacks up:

0.7m @ 189.42 g/t Au and 0.4m @ 86.51 g/t Au from (EL006184); 0.25m @ 441.23 g/t Au, 0.15m @ 140.83 g/t Au and 0.25m @ 24.92 g/t Au

And we will be soon drilling at another spot we got 50 g/t over 1m

Drill arrival was never going to shift the SP as it was expected and known the drill was arriving imminently.
Income generation was a nice little bonus, although I would hope that the second drill will be turning on ECR licenses the majority of the time.

Only resource updates and disposals/ Itagon value leveraging will shift the SP now....until those arrive it will be pretty quiet.

I'm with you Legal...We know Midas is drilling the twin holes and then site of the recent high grade sampling, but we have nothing after that.
Rig 2 won't be operational until April, but would be good to get a roadmap for the next 3-4 months both on drilling and sampling strategy.

Sorry, mistaken double negative there.
For clarity : I just don't think it's one that ECR should be concentrating on (Blue Moon)
Creswick, Hurricane and Lolworth are the best prospects.
Itagon is a proven and valuable resource , but they should JV/sell that to concentrate on the big 3

Gino, I'll admit that it was a potential game changer 6 month's ago, but as the extension drilling results came in there was less of a sense that it was an extensive system and so fell down the priority list, for me at least (and the SP reacted accordingly at the end of the year).
BM is not a dead duck from a commerciality point of view, I just don't think it's one that ECR should not be concentrating on with Creswick and Hurricane much better short term prospects and Lolworth a potential beast a bit further down the tracks.
6g/t is still a decent result and I think there is value there for someone so could be time to sell up (with future additional milestone payments)and concentrate on the big 3....ECR cannot be chasing too many prospects at one especially as the BM is a resource that plunges deeper and maybe therefore more expensive to sink a deeper drilling programme.

Plenty of value to be had at this SP level and will bounce by the end of tomorrow once that is more widely realised.

Should see this bounce back today and tomorrow.
BM results were not as good as expected however BM has not been considered one of the 3 main plays since the extension drilling came up short.
In the last couple of weeks we have had triple digit sampling results from Creswick and gained a 90% interest in Itagon , however this and the excellent prospects at Lolworth and Hurricane seem to have been lost.
We are now at a point where our assets are valued higher that our MCAP with NO potential built in.
We will see a bit more volume on ECR tomorrow so a good day yo take advantage of the low SP today.

Mental, I think you are right.
BM last 3/4 holes I feel is to establish value for a sell.
The big 3 assets to explore are Creswick, Hurricane and Lolworth
We are drilling at Creswick from next week and I believe that rig 2 will be sent to Hurricane to drill as part of the DD process.
When Hurricane initial drilling is complete then there be an evaluation where the best prospect is between Creswick & Hurricane and I believe we will see both drills deployed at that license with a view to building a JORC resource (AH alluded to this in the January interview).
Lolworth is a bit of an outlier as it is very early stage, but with the Lithium deposit discovery I don't know if it will be pushed up the drilling priority or if there is further sampling to be done before we get to that stage.
Itagon I believe will be either sold or there may be JV negotiations ongoing...either of these will keep the Directors in a closed period.

Thanks Snip....nice reasoned argument there .
No-one can be more than pessimistic or you will call them a name ....real mature.
Anyway, Got to go and look for my ECR payslip now...LMFAO

Snip , not quite following you onthe inference you are giving that Creswick is worthless?.
Over the last couple of years we have gained numerous new license areas on Creswick which means we now have 10km of the DMS under license. We have identified a parallel system and from the RNS earlier this month we had some stonking grades from sampling. The rig is moving there and should be turning next week to diamond drill on the previous site and then move to the site of the recent testing (the 50g/t site if memory serves).
Hurricane looks good with multiple commercial looking veins identified (yes the commerciality had yet to be confirmed) and Lolworth with excellent initial panning results and the identification of a 10km strike length for Lithium.
A lot to look forward to.....I think we will probably leave the other Oz territories alone for now.

As Ah said in the recent interview, you need to understand the true value of an asset before you negotiate on a JV (or a sale) . I think this is what we have done at Blue Moon and HR£ over the last 6 months.....I expect the for sale sign to go up at Bailliston (if it has not already).
Not a core project and best got rid of to free up time and provide extra funds. IMHO

rx, I don't think anyone today has said today's drill result is a commercial find?

The 'composite' was basically a grouping of a number of results from around the same level of drilling in the one hole...I assume where we had the fracturing:
"supported by the best drill intercepts from the current drilling campaign including 0.5m @ 17.77 g/t Au from 84.9m, 0.4m @ 15.02 g/t Au from 85.4m and 0.3m @ 10.62 g/t Au from 85.8m. Grouped together, the intercepts from 84.9m depth composite together at a grade of 6.35m @ 4.56 g/t Au (using a cut-off of 1 g/t Au)."

I have been saying that areas of Baillieston may be designated as 'non-core and sold off. The last HR3 drill was in the best zone for resource following the other drills to map the geology and now we have a number of drills on BM to test the extent of the resource followed by the 3 drill in and around the red zone.
Does have the look of a determination that there is a decent enough resource to sell on, but not one we would pursue ourselves with our concentration on Creswick and the 'elephant country' which are the larger areas of interest.

Bid was 0.7 at the start of the day and that 1.8m sell is the only trade below that and has pulled it down slightly.
Not surprises either way in the results "continuity of grades across results from the holes announced today. As largely expected by the geo team"

Crumbs we agree twice in a day:

With Itagon I think it's either a free ride JV or a sell for me so we can concentrate efforts on Oz assets.
AH keeps springing surprises though so I will continue to 'watch this space' for updates

Re 10:36 ....So that confirms you agree that all the below activities may add value (thanks for confirming)
Further Creswick soil sampling results due soon.
Blue Moon Drilling results due any time
Second drill rig has arrives in Oz or is arriving imminently.
Soil sampling to continue on newly discovered parallel system to the south of recent excellent results area (4 or 5 targets identified)
DD continues at Hurricane
Danglay 90% ownership ...develop, disposal or JV?

rx although you have not answered any of my directquestions I will answer yours:

1. Proven quantities of gold - With a 90% interest now in Itagon the 63.5k oz proven resource is now in play (there is the first of the commercial resources for you ...the estimated (yes it's not yet proven) is 95k+ at 5-7.5g/t. The 'list' shows that we are progressing towards resource on the other assets and AH stated that it is his intention to have a proven resource this year.
2. The 'dire' SP view you have is dependent on when you invested. As you yourself invested (cough!) in the 0.6's then I would suggest the SP is not 'dire' as you are in profit. At the current levels I would suggest that the potential downside is minimal compared to the potential upside....maybe a good time to invest?
3. Absolutely agree that it's verifiable data that will move the dial here....with sampling from Creswick, DD being undertaken in Hurricane, Drilling results from Blue Moon and drilling commencing at Creswick there will be a lot of verifiable data coming down the pipeline which can shift the SP.

The rest of your post was just bluster and personal opinion so I can't really comment on that...just how you perceive things.

What do you think is the best way forward to leverage the Itagon asset?