Member Info for TalkingSense

Oh look, another £20k buy.
Someone is tucking in big time ...that's got to be well over £100k in the last week that's been accumulated.

If that's what you think is a good strategy then go for it (personally I'm holding on to my shares including the trading pot)

AG, Someone is putting themselves in position...been a number of £20k buys over the last week or so with the MMs dropping the SP to accommodate.
Just a waiting game now for the next set of assay results or license news.

PFG, You are spot on with the AISC, Although taking a higher AISC of $900 would still give a £10m profit per shoot ....and we have multiple shoots.
So if/when proved up there is potential profit on the shoots alone to be multiples of the current mcap.

Have the feeling that the next lot of drilling results could see the SP rise here as the ECR team will have done their own assay work and will have made the land purchases on the basis of the results they know (they only RNS the independent results).
A company definitely travelling in the right direction.

Paul, The original statement was correct. A £20m shoot is worth more than the current £17m mcap.
No-one said that the profit on mining a shoot was more than the mcap (obviously it would not be mined for free)......seems you are trying to jump on every statement on the BB and put a negative spin on it.

We know from the last interview that we are waiting for them to return from the lab and that CB is frustrated with the delay.
So the quick answer is anytime/ no-one knows.
There are a few to come back so we should get a better idea of the continuation of resource at CresWick and hopefully the company will explain about the cross-drilling a lot more clearly in the next RNS so investors can understand the results better

Paul makes a good point.
EVERYONE is biased on a BB...some positive and some negative.
Which is why you should always do your own research, not be swayed by others and take responsibility for your own decisions.

sssssssshhhhhhhh

HH, They will have a good idea n the results of the drilling as they do their own in house assays, however they have previously stated that they will not release these in-house figures and will only release the official independently verified results.
Enables them to make sound strategy/business decisions pre- RNS , whilst ensuring that the information released to investors is accurate and not continually amended.

And don't forget the balance to pay on Midas 2

ECR RNS
Typical that the LSE RNS page is down today so the good RNS has not hit the wider audience.

https://www.londonstockexchange.com/news-article/ECR/property-purchase-within-in-the-bailieston-license-area/15132295

LSE need to sort their s**t out

Paul, Absolutely there will be future raises (as in all exploration companies).
The key bullet points to attract investors have shifted in the last 6 months IMHO as the prospects of actually developing a mine (or mines) become more and more possible.
The significant bullet points that will drive the SP over 2.2 over the coming 6 months are:

* Resource estimate progression
* Any 'high grade' drilling results
* Tendered license allocation
*JV talks progression
* JV agreement
* New Drilling Company announcement (income stream)
* Further drill purchases
* Initial Queensland sampling results
* Funding generated by last year's disposals (2 x Victoria & 1 x Argentina)
* Other progression towards mining announcements

Probably a few more , but these are off the top of my head and not saying they will all happen, but there are a number of fronts that could boost the SP and likely that some of these will occur in the coming months prior to the next cash call.

Hi Paul, Given we should still have c £2m - £2.25m left in the bank after the purchases of the TWO packages of land and the SECOND drill rig I would say we have at least another 8-10 months before any further funds are required.
CB stated that a resource estimate by the end of the year was the target , however with delays in sampling results returning from the lab due to covid I would expect an initial inferred resource estimate in Q1 2022.
Of course we may have extra income if the two licences we sold off last year hit their milestones and as drilling progresses at CresWick and when the tendered license s awarded then the chances of a JV will significantly increase which will remove some ECR expense and stretch that 8-10 months further.
Obviously as things progress and the resource estimate is produced you would expect the MCAP and the SP to be significantly north of where tit is now so the next raise I would expect to be well above the last one of 2.2p ...assuming it is a placement and not CB going to one of the 'mining banks' he has previously mentioned.
Further funding applies to all exploration companies and we are fortunate not to require it for a decent amount of time in which case the project can develop/progress significantly.

HH, I think CB has told us the story , but 99% of investors have just looked at the grades from the drilling.
CB has said that they are drilling across seam and that they are mapping the resource.
We have also been told there will be viable mines at both licenses.

Obviously the 'mapping' is showing some very positive resource and CB is moving forward quickly with a long term vision of where ECR is heading. He's got experience of setting up mining operations so knows the required steps and also (with his finance background) the best ways to finance the projects.
I think it was telling 18 months ago when CB rejected a number of JV proposals as they did not reflect the value of the projects. Many on the BB were screaming to do a deal at any cost, but it was at that point that I invested heavily in ECR as I had the confidence that CB would do the right thing for the company long term and would not pander to short term investor demands.....and it's playing out nicely.

Interesting to see how many drill rigs ECR purchase (I'm guessing more than two eventually).
Being able to outsource our rigs and crew could be very lucrative in between our own drilling programmes and turn potentially expensive downtime in to a nice income stream at what I guess is an ever increasing rate given the shortage of rigs/crews in Victoria.
Added bonus is we do sign a JV on Creswick with the partner taking the exploration costs...and then sub contract out our drilliing crew for them and actually have an income drilling our own license :-)
I would expect this to be more of an income stream in to 2022+ as we are busy on CresWick & Baillieston over the coming months.

Definitely a buy and looks like it had been worked since late the previous afternoon.
Nice to see someone has confidence and some cash to back it up.

Tamer, In the last interview CB said they were waiting for the assays...seemed to indicate that they were still at the lab...so I think Covid delays is a reasonable assumption.

Funny, I thought we were 100% up from 18 months ago when we were in the 0.6-0.8 range.
That's the beauty of numbers, they can be viewed/manipulated/ tell any story you want depending where you put the start point.
Numbers, lies and damn statistics.

At the end of the day the upcoming drill results, future resource estimates, JV progression and awarded (or not) license will determine where this goes. No chart , historic trend/high/low or fuzzy logic will drive the SP mid/long term.

Short term ups and downs are part of AIM investing, traders will generally make money as the herd is easily led and , if you do your research well and with a bit of luck you can make some good profit.
GLA , whatever your choices

Paul,
Thankfully most investors have reasonable intelligence , so won't be as stupid as to interpret the results as bad now they've had CB explain the cross drilling explained.
And you are right about sentiment turning... the mildly positive sentiment of the last few days could turn very positive at any point and see this towards the 3s very quickly.
I guess time will tell.....I'm off to fill my half full glass of beer now....does your half empty one need filling as well ? ;-)

lokenraej, Perhaps the drop to 1.5p was overdone and as a result of investors not liking the previous grades due to the fact they had not been explained.
Now CB has explained that we are drilling across and not down the seems and investors understand this then the expectation of 'killer grades' is not there and therefore similar results showing the presence of gold in all dill samples will be viewed as a positive and will see the SP continue to rise (and the correction we have seen over the last week may be a sign of that understanding).
The purchase of the new property and a second rig shows confidence from the ECR team.
Of course the other x factor that will shift the SP in the short term is the tendered license and that could be granted at any time...at which point JV discussions can progress further. These cannot significantly move forward until the license is/is not granted as ECR and the perspective partners do no know he extent of the DMS they are negotiating on.
Once the license news drops this will catapult forward IMHO.