Member Info for TalkingSense

Legal, Pushed for time so I'll only address point 3 .
If it were a lifestyle company surely they would have eeked out the £5m they had and kept minimal expenditure so they could draw salaries for the next 3 or 4 years, slowly drilling the odd small campaign every 3 or 4 months to feign progress.
Instead they have heavily invested in infrastructure and personnel which would suggest they are trying to build a long term successful company....complete opposite of a lifestyle company philosophy.

Snip, The contractors were brought in for the initial CresWick drilling contract that they have now completed (so were fit for purpose)
As we have multiple sites they are now being moved to Baillieston to continue drilling while one of our own rigs will shortly be continuing the programme in CresWick.
This is the beauty of having your own rigs....if we did not we would not have the flexibility and we would probably now be in a queue of a few month's to get another drilling contractor , such is the demand.
Also the company have been forward thinking and registered 'Midas Drilling' as a company, one would think with the view later of hiring out the rigs when not in use by ECR to generate extra income and not have the crews sat idle and burning salaries for nothing.
Many companies are scrambling to try and find rigs/crews and their drilling programmes are going no-where as a result. ECR are full steam ahead and actually building a company.

Another reason CB may be keen on listing on the ASX was that he said in an interview late last year/early this that if ECR was traded on the ASX it would be trading 3 or 4 times the SP as gold miners are rated higher on that market (more knowledge).
I assume he is hoping that local knowledge and valuation will help drag the SP up .

Snip,
To be fair your views default setting is always on the 'pretty disappointing' side.
What gives you any reason to think that the results were disappointing?

Surely if the results were bad then the board would just sit on their hands make outlay minimal and milk the company for salaries over the coming years.
Instead you have a company investing in property, staff and new equipment....a massively positive sign , pushing the company forward, reducing accommodation fees.... and with a plan to generate income.

"We're looking to buy another little rig" ....drill rig 3 on it's way by the look of it

Pappikon, The Chinese have made no promises on new coal powered stations within China.
in fact they were completing them at a rate of 1 per week on average last year.....Chinese demand for coal is only set to increase and that provides another potential outlet that we can export in the future.

when does commercial rent ever go down :-)

Accommodation costs will be cut, no need to pay the ever increasing rent in Bendigo, 59 acres to explore and the ability to expand the number of buildings on the site if required....sounds sensible to me.
And confirmation there is still £3.4m in the bank AFTER this purchase.

SJS, They are facts (if the Chinese are not doing it for a PR stunt as they have done previously on policy pre summits, only to quietly wind back after the summit).
Not sure why you need to post the same thing repeatedly ...it's not as if there are 100 posts a day on this BB in which the point will get lost.
Is it a risk , yes, as are all AIM shares (and probably more so in GCMs case), but there is also huge potential reward.
If it was a sure thing then the SP would be at £5-£10 today and there would be no potential upside.

Not Chinese policy and a merely a great PR exercise ahead of the climate summit.
I fully expect China to slowly roll back on this quietly without any announcement over the coming months....lets face it they do have some form on this.

a$1.25m = c £650K to give us bases of operations on each site, remove the crown land issues and give a location for the declines while removing masses of red tape.
I would say that's an excellent purchase as those were the reasons given by the company.
CB has set up multi million Oz mines before so he has a great insight in to the best steps to take and also with his financing background he can be trusted to spend the money wisely without risking the farm'

Snip, The agility won't be visible from our viewpoint.
Subtle changes in the drilling angles, slight amendments to drilling locations and deciding not to drill/ drill additional holes will all be being made based on the results that they are seeing.
The land purchases are a sign that the results are promising

kdonk, The point of their own lab and their own drill rigs is speed and being agile.
the company does not want to wait 4-6 weeks for each result to come back from the lab and then make a decision on if they need to move/change the drilling plan. Having it on site they can make those decisions quickly , make adjustments to sites/drilling angles and also input data in to their resource mapping software without delay.
Having speed and flexibility with their own lab/rigs is an absolute masterstroke.

Of course they have said they will only publicly publish results from an independent lab which is absolutely the correct thing to do as any variation from in house & independent results, no matter how small, would lead to mistrust and the negative posters would be all over it, so adds some certainty/confidennce.

redeyesmines, I think you have hit the nail on the head there. China has not committed to building no more coal power stations within it's borders and built new ones at the rate of one per week last year......all those (and the ones they continue to build) will need feeding with ALOT of coal.
So Phulbari's feasibility is not solely reliant on the power station being built in the area and could be an amazing cash cow for the GOB on export taxes , etc.
Once this realisation hits the SP should rebound nicely.

Sorry Craig...I meant CresWick ;-)

I think also its a message with the anticline and antimony similarities between the two (albeit ECRs holding being at narrower widths, but with Creswick we have 7-11km of DMS (dependent on the final license) in which these shoots will sit.

Morning all, Mr £20k is at it again this morning.
Mentalmax, The delay in the license is really frustrating. CB said in a interview a couple of months ago that he was surprised how long it was taking...and now we are still waiting.
One of those 'how long is a piece of string' timelines ...news could come tomorrow or we still could be months away.

The added frustration is that this is the main blockage to JV talks continuing as we don't know the final licensing size/DMS length that the negotiations will be on.

I've been out of GCM for a number of years (sold for near £3 and made a nice profit last time).
Have been watching and waiting and decided to have a small punt back in as the potential upside with any sniff of positive news here is sizable.
Still a fair bit of risk on the downside , but the potential upside warrants a small flutter and I think there has been an overreaction here today and we are at the bottom and will correct quite quickly.

wow, literally 30 seconds after I posted....someone's watching :-o

Fancy a tick up this afternoon anyone?