Member Info for TalkingSense

I believe it was said that this would be the last drilling at BM for the season.
We know that Midas is being moved to Creswick to drill the parallel system.
I would guess that the second rig will be heading to Queensland...there is drilling that needs to be completed on Hurricane as part of the DD process.
Where both rigs move after that I guess will depend on those and the BM 'red zone' drilling results?

Does anyone have a link to view the presentation live or will we just have to wait for the ECR twitter highlight clips?

Gino, Not me I only worry about the bid price ...rx quotes his SP from a website that just quotes the latest trade ( myself and a couple of others have pointed this out to him previously ).

Fair point Gino...I had not taken in to account the Jan & Feb burn rate so we could be a couple of hundred £k down on my figures.

rx, I'll take it from your inability to answer a direct question that:
a) You agree with the £1.8-2m in the bank
b) You based your 'raise due soon' remarks on nothing and were blatantly deramping
c) Acknowledge that there is a lot of activity being undertaken by ECR and a good deal of news due shortly (as per the list) which should provide a great deal of the verifiable data that you seek.

Your wish has been granted : Nice to know you are happy that ECR today have stated they now have a 90% share in a proven commercial resource of 63,500 oz (potential quantity and grade of mineralisation expressed as ranges of 95,000 to 170,000 ounces of gold at 5 to 7.5 g/t ).

Yes it is an educated guess....Well one element based on the last declared financial position and stated burn rate.
The placement and property sale (£1.3m) are known.
Do you have any evidence to the contrary ?
And was your 'raise due soon' statement yesterday based on any evidence or an uneducated guess?

And do you accept the following activities are happening/expected (you still have not answered)?

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?

I haven't been able to get a bank statement but:

The general consensus was that they would have £500-700k left in the bank @ time of the raise
£900k raise
£400k due from property sale

Would give them £1.8-£2m in the bank.

I take it you agree all the other expected activities/news will be happening?

Afternoon rx:
Danglay is good news, but will only significantly shift the SP once we know how the 90% will be leveraged to add value going forward.

I've added it to the list below which you seemed to dispute yesterday- I asked if you would advise which of the below was inaccurate (I didn't get a reply). Please let me know so I can amend.

£1.6m - £2m in the bank so no prospect of another raise in the near future.
Discussions on non-core asset sales are still ongoing (i.e. Itagon) which will raise further funds.

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?

Gino, I'm sure that either Newmont or Newcrest had a license directly to the north of one of the Baillieston licenses(I thought Black cat)? Or maybe I am just losing it?
I did wonder if the back to the red zone drilling was a value enhancer for Baillieston (along with the last HR3 drill hole)?

We shall see what is determined as 'non-core' and what happens with Danglay over the coming weeks/ months as this plays out.

Definitely excellent news on Danglay today and I expect it to be 'in play' one way or another.
The AH master plan is coming together!

Hi Gino,
If the 25% was valued @ £1.25m a year ago then we may have some loose change if we sold the 90% to fund Hurricane.
however, I think I'm with Awen' on this one. I now expect a JV at Danglay.
I still have a sneaking suspicion that parts of the Baillieston licenses may be sold off...Black Cat's neighbours may be interested in increasing their footprint.

LOOK AT THE ADDITIONAL (not proven) RESOURCE THEY BELIEVE IS AT DANGLAY
conceptual: 95,000 to 170,000 ounces of gold at 5 to 7.5 g/t was reported.

From 2021 FY report
"The ECR Board believes the political climate for the minerals industry in the Philippines is improving and considers that the Danglay gold project has potential for further exploration to build upon the existing inferred mineral resource estimate of 63,500 ounces of gold at 1.55 g/t gold. This resource was reported by ECR in 2015 to the Canadian NI43-101 standard, based on exploration carried out at Danglay by ECR during 2014 and 2015. In addition to the resource, an NI43-101 target for further exploration (conceptual potential quantity and grade of mineralisation expressed as ranges) of 95,000 to 170,000 ounces of gold at 5 to 7.5 g/t was reported."

Hi Diplomat, I remember the asset value was written down in 2020 due to the ongoing legal dispute at the time.
Not sure if the value was then included from 2021....the auditor notes from the full year report are below.

OF NOTE is that fact that they then valued our 25% at £1.25m....so overall valuation of Corsilla Tiger in 2021 was £5m and one would assume this would increase with the increased accessibility for mining in the Philippines since?

AUDITORS NOTES - FY REPORT 2021
"As disclosed in subsequent events, the group has now formally acquired title to its 25% interest in Cordillera Tiger Gold Resources, Inc. (“Cordillera”), which is the holder of the exploration permit for the Danglay gold project in the Philippines. The exploration permit for the Danglay project, which originally expired on 30 September 2015, was renewed in July 2021. There is however continued uncertainty within the Philippines government regarding their policy towards the mining sector. This indicates the existence of a material uncertainty over the recoverability of the carrying value of the Danglay gold project, which amounted to £1,254,284 as at 30 September 2021."

Those who have been here long enough will remember that the ECR SP 6 bagged following the announcement of the Danglay 63.5k oz NI compliant resource.
The rise was abruptly reversed when the Government of the Philippines closed the shutters on foreign mine investment.
The new GOP have been opening those shutters and welcoming foreign investment again which means the value is returning to Danglay.
At just over £400k for 20% additional share values Cordilla at about £2m.

It will be interesting to see if we sell Danglay or if we seek a JV now that we own the lions share of the Tiger (see what I did there:-).
Whichever route AH decides to pursue, there is definitely some value to be added to the company by Danglay.

Well we never saw that coming!

I guess we now know what some of the 'sensitive ' discussions were concerning.
We've gone from 25% to 90% in two years.

Is Danglay a core asset we would develop or will we be selling 90% of the project.

If we keep Danglay does Baillieston become non-core?

The plot thickens.

rx...Specifically what point in my last post was incorrect/ do you not agree with?

£1.6m - £2m in the bank so no prospect of another raise in the near future.
Discussions on non-core asset sales are still ongoing (i.e. Itagon) which will raise further funds.

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

Plenty of newsflow to come.

I was under the impression that the recent results from Creswick were excellent:
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 Adam stated that the next drilling scheduled at Creswick is on the sight of a previous 1m @ 50g/t sampling.
All those grades are beyond decent.

I'm sure when AH presents that in Victoria that there will be interest taken.
IMHO This is in no way the pre-curser to another raise...they generally present in London when that is on the cards.
With the £900k raise last year, the £400k from the property sale and the money we had left I would guess we have £1.6-£2m in the bank....so plenty to have a non-stop drilling campaign with both Midas and the second rig through 2023 and in to 2024

The funny think RX is that everyone can see that Tamer absolutely owns you !
Every time he posts or is referred to you are compelled to answer.

and to your last post...I believes I called him out for unsubstantiated ramping in his 'off the hook' post.
I'd just like a balanced discussion here with both positive and negative views (backed up with reasoning) , but without the personal remarks, name calling and childishness. Back to the good discussion board it used to be until a few weeks ago.

Thanks rx...I don't think we need your views on other posters....We all have our opinions of each other (and you have repeated your views on tamer many, many, many times) and it adds no value to the board.

I'm sure the presentation will generate some initial interest and put ECR on the 'watch list' of a few other companies...especially with those latest Creswick grades.

Tamer....Where is your "phone was ringing off the hook" information come from, Or have you just made that up?

BM and Creswick results coming soon.

Interesting that it says "Drilling Creswick, Hurricane and more2...may indicate that drill 2 will head to Hurricane, for the required DD drilling for the license, prior to Lolworth

Some people do not see the positives