Member Info for TalkingSense

Luckyorange, CB has mentioned 'mining banks' in previous interviews, and his background is finance so I would expect him to obtain additional funding in the least painful way possible.

Way oversold with warrant shares being sold over the last couple of weeks so not over excited about a 10% rise as was going to bounce back at dome point.
Now normal trading has resumed this could work its way back north of 2p over the next week or two.

Absolutely agree that there will be no progress on JV until thr outstanding licenses are sorted.
To be fair to CB he has said repeatedly that the JV progression was dependent on licensing issues being settled, in interviews from the end of last year and in to this year...so he has been consistent and unfortunately the licensing process/timeliness out of ECRs control.

Correction ......12m options , not 30m ....last October for staff & consultants

I believe Craig exercised some warrants in mid December.
I can't remember when the 10m options were allocated
Late last year there was also an allocation of (from memory, don't quote me) 30m shares (not sure if shares or options) for staff and senior consultants in the latter part of the year.

Here's the full list I posted (save some time). I think we've covered 2 , 3 & 6 today already :

Covid restrictions - do not impact ECR
CB - 14m shares including options
JV - negotiations on hold until disputed licence granted, then should recommence
POG in the 1700's - original viability was on $1300/oz so still very viable
Warrants - these are being worked through and should be finished soon
Fund raising - plenty in the bank. c£5m with a £300k a month burn rate when last reported so none in the forseable required
Not yet bonanza grades - we are orientation drilling to understand the geology so that future drilling can target the higher grade areas. The fact that gold is regularly present in the drill cores is an encouraging sign

Afternoon Legal...I guess CB thinks that 4m shares held with 10m in options is enough.
Or perhaps Mrs Brown wanted a new kitchen/handbag/Car/Private jet so he hasn't got any spare cash at the moment.

If you want to see a director desperate to shore up an SP by continually buying shares then look over to POW where our old friend (who nearly drove this company to extinction) PJ is regularly buying....that certainly gives me not an ounce more faith in him or the company.

I think Directors share holding was one of the top of my list of the negative topics we cycle through that I posted last week.
Price of gold might be next?

Burleigh, I think 'the basic fact' is that you are changing the facts with regards to the number of shares in circulation.
There were c800m shares in Jan. Subsequent block listings for warrants (that we knew were coming) and the 90m for the placing have occurred since.
You have suggested a 300% dilution for the listing in May when it was actually a 10% dilution.
I would stop making statements on 'facts' and 'changing history' when you posts are wholly inaccurate and misleading.

On the plus side you have provided entertainment on a very slow morning.

For clarity ...The May placing was only 90m shares...so c 10% dilution

Come on Burleigh...there were c650m shares at the start of Sept so you are again massively overstating the dilution.

I agree the fund raise was not good at the time, but in hindsight with the overall fall in the junior mining sector it has proved to be a positive thing being at a premium to todays SP and enabling the purchase of the second rig and giving us a much healthier bank balance.
I am still optimistic as I am not planning to sell any shares until at least mid 2022 (probably later as I let this play out)
The fundamentals have not really changed since January..in fact if anything they have improved around the prospects in CresWick (where I still expect a good JV once the license issue has been resolved), 3 drills will be spinning in Q4 with the new multi purpose drill, the new Queensland licenses, further understanding the geology at C & B with a JORC resource by the end of the year/early next year at least one area.
All good for those willing to hold.

Burleigh...You seem to have re-written history yourself as there were c877m share in mid Feb not the 300k you state.
Only a 29 fold inaccuracy there.

I agree with AG. It has repeatedly been stated in interviews that further progression on JV talks will only happen when the tendered license outcome is known.
The potential partners will then know if they are negotiating on 7kn or 12km of DMS resource.
Just frustrating that all the other licenses were granted back in Q1 , but this one has dragged on....they could award this one anytime so will keep an eye on the RNSs :-)

In hindsight was the placing a disaster?
Luckily (and it was luck) this came jusf before the whole junior mining sector took a nosedive.
It has enabled the purchase of a new multi purpose drilling rig.
It has also made further placements unnecessary for the forseeable future.

And if the company announced a fund raise now @2.2p (50% above the current SP,) it would be hailed as a massive coup and a really positive sign with less dilution than a raise at the current SP.
So overall in hindsight the raise may have been a positive, if lucky, thing.

GGPT&T..sorry, was not implying that you were deramping.
I just know that as soon as Covid is mentioned that someone always questions the operation (then cycle through: not enough skin in the game, placement (months ago now), no gold, never going to be a JV, POG...rinse & repeat).

We had 9 weeks in a row with RNSs ...and some weeks with multiple RNSs.
I don't think the 1 RNS a week was ad infinitum.....and do we get credit for the multiple weeks?
With the latest covid restrictions there could be delays in results being processed so you cant really hold that against the company.
Thankfully mining operations themselves are exempt from the restrictions (just to pre-empt the next deramp).
If missing an RNS for one week is a companies biggest problem then they must be in an excellent place ...LOL

"ECR has stakes in three other Australian projects, Avoca, Moormbool and Timor, sold last year in a deal that entitles the company to receive payments of up to AUD$1,000,000 for every ounce of resource and gold produced within one of the project areas."

AUD$1m for every oz should give a decent return ...LOL

still got someone offloading 500k chunks ...once they are cleared this should eek it's way up.
I bought my latest batch at 1.8 and although not time perfectly I am still confident of making a substantial return.
I think the recent interview/AG updates are preludes to the next batch of results being released within the next week or two.
Again don't expect bonanza grades as we are drilling across the resource to understand the structure and plan future drilling to prove up a resource.
You don't have to hit 50g/t over significant width to prove up a decent resource , but just understand/be able to model/prove that resource is there (having said that hitting those grades has a more immediate impact n the SP).
The future proved resource will be from the modelling and potential JV partners will understand the process/ programme goals that ECR are trying to achieve.
Sitting back and letting the process continue...and thus my lack of posting lately.
Will continue to top up sub 2p as and when funds allow as incredible optimistic this will jump forwards significantly in the coming months.

And a country that pro-actively supports it's mining industry

up £18 on the day ....$1745

Longlad....as well as the 4m shares he owns, CB also has 10m share options.
14m shares is plenty of skin in the game.

I see we are covering the full gambit of attempted deramps today.

Covid restrictions - do not impact ECR
CB - 14m shares including options
JV - negotiations on hold until disputed licence granted, then should recommence
POG in the 1700's - original viability was on $1300/oz so still very viable
Warrants - these are being worked through and should be finished soon
Fund raising - plenty in the bank. c£5m with a £300k a month burn rate when last reported so none in the forseeable required
Not yet bonanza grades - we are orientation drilling to understand the geology so that future drilling can target the higher grade areas. The fact that gold is regularly present in the drill cores is an encouraging sign

I think that covers today's so far