Member Info for TalkingSense

Armani, Looking at the report there is sufficient funding to take us through to the latter half of 2023...based on current spending.
Andrew has already stated that there will be a review of assets and any non-core (pun intended) assets would be sold off increasing that timeline.
The Philippines asset decision will be an interesting one whether they keep it or sell it on.
If I were a betting man I would think there will be a further fund raise at the end of this year/start of next to significantly accelerate Queensland if the initial investigations are encouraging.

Nice to see the assets increasing by £1.1m over the year

True spread is 1.15-1.06.
That won't narrow until interest and therefore trade volume increases here.
Bit like a sail boat stuck in the doldrums , it's just not heading anywhere.
We need more positive drilling results to get the breeze in the sails and get this moving.
I feel like the good drilling results are at the tipping point where people are currently unsure if we have a viable resource and one or two more sets of positive results could push this in to bullish territory and see a nice rise.
Little/no gold priced in the SP as is stand so plenty of potential upside to come.
Time will tell.

https://youtu.be/t5F1AwJTp08
This'll tell you what you need to know

Try reading the RNS

The MMs were trying to fill 50m of orders by dropping the SP to scare out the sellers and fill Colin's order over the last few weeks.
Good to see he is still keen to build his holding.....he obviously has confidence in the direct ECR are taking.

There is not a massive % in circulation.
Some of the main holders may be brokers such as Halifax who hold for multiple individual holders

Someone else obviously thinks so to....3m buy @ 2:20

AG usually only speaks to Adam after an RNS........next drilling results RNS in the next day or two me thinks !!!! ;-)

I believe the asset value at the last annual statement was just shy of £8m. Add that to the cash reserves and you are just short of £10m.
So an Mcap of $11m does not build in much for gold reserves.
Any reserves proven up would see a significant re-rate in the Mcap.
Sentiment is king though and that is why we are @1p

And received a further £205k through warrants exercised in April

I believe we had £1.23m in the bank at the end of March.
New drill is already paid for.

Morning Melvile,
I agree with yourself and Mentalmax around the need for a proven resource and the lack of this has inevitably led to the SP being share it is now.
The statement on not having commercially viable value is a bit presumptive though. Adam has been pleased with the results and it is building the picture. Not saying it is definitely commercial , but the noises from the company are positive.
The good thing here is that there is minimal/no gold resource built in to the SP at this price point so the risk/reward and potential upside at these levels looks extremely good.

Time will tell and we will see over the next couple of results and interviews.

I also hope that we offload Itagon to boost the cash reserves and concentrate on the Oz assets...I don't want us to make the same mistakes we made in the PJ era of spreading ourselves too thinly across the globe on projects in temperamental territories

I get where you are coming from Dan.
Everyone has their own strategy.
Market Cap is only £11m now which seems crazy low with all the assets ECR holds.
Will only take an investor pleasing drill result to shift the needle here.
Hopefully Adam is putting a rush on the results with the lab :-)

Yes looks like Danglay will be offloaded.
Great news that we will (finally) be getting back on to Blue Moon in about 6 weeks time.
By far the most exciting prospect in the Baillieston license.
Queensland exploration looking to kick off around the same time so could be a busy news couple of months.
Andrew came across as very professional and looks like he has a level head around decision making.
Also liked the knowing laugh when asked if today's SP is a good point to invest.

Snip, Re your 11:00 post.
You can find out the financial position if you read RNSs.
At the end of March they had £1.23m in the bank
From memory near the end of April another c£200k was added by warrants being exercised.

Not sure if/when they still get the tax rebate on exploration activities from the government or when that would be due (anyone?).
They also committed a$650k to Queensland over the next three years that they said would come from existing cash reserves so i don't think there are any imminent cash raises due.

Of course if you have any information on fund raises to the contrary rather than broad unsubstantiated statements I would be happy to be corrected

Thanks Snip...love you too xxx
Entered the board around 2014'ish from memory (the PJ era)...seen 0.4p and 4p and 71p....lost some, made some...it's been a rollercoaster.
Also seen many miserable people who blame others for there losses and wonder why there is negative sentiment when they repeatedly post pessimistic posts. Pygmalion.
I'm not going to comment on yourself or any other individual poster here...opinions vary and I would not be so arrogant and rude.

OMG, Not the ever re-occuring skin in the game conversation again.....gets so boring and is basically irrelevant
Used to get this with CB even though he had 14m share options.
There is plenty of cash in the bank to last until at least 2023 as well so don't know where the panic is there. Andrew has said we will trim the fat so there will be further cash income as we sell off non-essential assets.
Itagon and some outlaying land in Oz will go IMHO.

Well deserved appointment.
Interesting that he will work across all current projects which lists Victand and Queensland...but not the Phillipines.
Looks like Itagon is being packaged up to sell which will improve the cash position further.

Nine trades...two of which are under a tenner.
Not exactly a firm basis to make the 'giving up' statement mentalmax

Gino, Re funding and JV:
Did you miss the bit where we potentially sell off non core assets, possibly package up the Philippines for sale if not a viable operational option for ECR.
Potentially look for a JV partner (he did not specify if there was or was not existing offers on the table/available to be explored).
Any/All of the above will extend the financial capabilities of the company.