Member Info for TalkingSense

Also worth looking at OMI so as not to get disheartened about the ECR SP.
They followed a similar pattern to us and were 38p in Feb and fell back to 14p before today's rise back to the mid 20s (and maybe beyond in the coming days)
It's all about going through the process and it takes some time with miners.....but then you hit the sweet spot when all the good grade drilling and resource proving occurs and your patience is (hopefully) rewarded.
It will come!

kdonkey, I think they will get to the point a bit quicker once the orientation stages of the drilling are over.
In the initial drills the proving up of the structures are more important than the grades....a point that has been missed by some.
Once we start drilling the sweet spots I hope we get some nice short RNSs with large numbers (that would be nice) as the grades will then be the focus.

Has snuck up above $1800

The communication is much better, there is no doubt.
As said there are certain posters who will ***** and moan about anything and then if they have no material will just default back to moaning from the placing.
regulars here know who the naysayers are and those who are just attention seeking (they will be the ones who take this post as a personal insult).
It's good that there are both positive, balanced and negative postings on this BB.
Its just annoying when you get repetitive doom which is not really warranted, as it is if I posted repeated 10p tomorrow posts (disclaimer....it's going to be at least Thursday until we hit 10p ;-)

The small drops are currently on small volumes and so are (like small rises) not really a cause for concern (celebration).
A couple of chunky orders/sells at these trading volumes will push the SP a couple of % in either direction.

Should see another drill result Tues/Weds if we keep on RNS schedule, so lets see what that brings.

jsmith,
Absolutely they will have to do a JV on Creswick at some point.
The point being made is that we could strike a deal now on non-favourable terms to ECR as the risk for the JV partner is greater.
Or we can spend a few million that we have in the bank and prove up the resource further at which point we will be in an excellent negotiating position with potential JV partners (plural) and get a deal on much better terms.
Personally happy to wait for another 12 months as the proven resource in CresWick grows along with it's value and the SP.

Absolutely AG, My thoughts exactly

AG, It's more to do with timelines.
CresWick will cost £20-30m to fully prove up (CB interview last year).
The further that we can get towards fully proving the resource , the ore de-risked it is and proportionally the more valuable it is (spending £1m might increase the value by £10m or £30m+) so it is in our interest long term to go as far down the road as we can.
Could we seek a JV now - YES (we have interested party(s) )
Do we have to - No ( we have plenty of cash)
Will we get a better deal further down the road - YES -(if results prove up what we think is there).

So rather than a get the deal done at all costs approach on CresWick CB is playing the long game and ECR SP should build consistently over time.
I expect we will see a few of the 'want a multibag tomorrow' brigade bail out at the start of the week, but the SP here should build a good foundation, and continuously higher foundations as the drilling results are consistently reported.

The sector is having a rough time at the moment.

Some negative and positive comments on here....some of my thoughts.
** Yes , the placing was S**t and counteracted the previous 'no additional funding ' comments. However that was now months ago, CB admitted it was a mistake and the additional funding will come in handy when it comes to the needs to prove a JORC resource in Baillieston and may have enabled the contractors at CresWick to be brought in earlier....I think it's time to move on from the raise.

** Blue Moon was and probably is the most desirable location to drill and prove up . However permit issues pushed it down the queue and rather than sitting on our hands and doing nothing we pushed on with HR3 and as a result have discovered/proven the anticline. The initial drill results did not provide huge grades, but were never designed to as they were orientation drills. Part of the phase 2 drilling is to explore the outer limits of the anticline system so don't expect big hits on each drill. This is to understand the structure so that effective drilling programmes can be devised to provide maximum long term value.

** The JV not happening (yet). From last year CB repeatedly stated in interviews that there were legal and LICENSING issues that needed resolving for a JV agreement at CresWick to be agreed. I believe the licensing issue is the tendered license that has yet to be issued. I thought (and I think the majority of others thought) that this would be a quick process and be in line time wise with the other 7 that have been granted. This timeline is completely out of the companies control and as far as we are aware the interested parties are still waiting for the license to be agreed and are still interested in doing a deal.

Afternoon Gino,
The initial drilling programme was for orientation and so was never designed to hit bonanza gold grades.
It was to understand the formations so that a second drilling programme could then be devised to hit the sweet spot.
We now have details of that second drilling plan.
Short term everyone would like to see the high grades (me included) , but this is a process that will play out and pay off in the longer run.
I believe the plan is to keep Baillieston as 100% ECR owned and send CresWick in to a JV agreement, thus the splitting of the rigs over the two sites.
We know that Midas will need to go to CresWick at some point as some of the drilling sites are not accessible by the larger contractors rig.
CB is playing the long game here and doing the drilling planning at HR3 correctly IMHO. He could have taken a stab at the anticline without fully understanding the structure , but then the drilling would have been very hit and miss and also not informed us for the longer term prospects and drill plans.
Blue Moon was the most exciting prospect in Baillieston (this may have been superseded by the anticline discovery) and I think CB is very keen to start drilling there , however licencing has been an issue
Also to correct your statement earlier , the current number of shares is c40% higher than when the SP was 4p and not 60%-70%

No bonanza grades to get the SP moving upwards from that RNS. I reckon we'll end up about flat for the day.
Good news long term with the identification/confirmation of the anticline.
The phase 1 orientation drilling is now complete and has done it's job of mapping the structure (the aim of P1 was mapping, not intercepting massive grades ...although that would have been a nice bonus).
I would hope that we can get some decent grades through phase two which should be targeting higher mineralisation.

CresWick is the key to unlocking an SP increase in the short term so I am eagerly awaiting those results.

Apart from the RNS yesterday of course.

You forget that your average AIM investor has the attention span of a gnat.
First CB said in an interview that the first drill results would be received shortly.....and they took almost 6 weeks from the 'visible gold' tweet.
Also the JV speculation had overheated and we lept from 2 to 4p in a week or two....so the move back below 3p was more of a correction IMHO as we went too high too soon on no news (the herd were in town).
The herd left , placing came along and we had someone offloading the remainder of the 1.25 warrents...all then pushed the SP to the current levels.
The good news is that the next surge north should be as a result of or supported by news so I can see the next rise being maintained and built upon as more and more assay results are revealed. Of course if we are awarded the tendered license I would expect to see another surge as JV speculation would increase and I would guess that it will not be a long timeline until a JV is then agreed as I believe most of the the JV has been agreed in principle pending the award of the license.

I think you are all overthinking it.
The Sp rose to 4p on the promise of a resonably immediate JV and 'visible gold' drilling results.
The delay in the tendered license and the drilling results that were delayed and then not as good as expected caused the return to the current levels.
As results come in we should see the surge back to the 4p+ range again with just a couple of good assays.

£5.25 m still in the bank.
I thought the CresWick explanations in the report were interesting.
Especially the fact that the 2019 drilling with it's excellent results did not intercept the main DMS.

Now we wait the next drilling results

Make the most of what could be the last chance to top up sub 2p

Last 2 RNSs were on a Tuesday.
Could drop anytime though and with updates on CresWick & Baillieston drilling there is plenty of news to come.

Afternoon all.
Just pickin up from the 'skin in the game earlier.
CB owns 4m shares.
He also has options over a further 10m.
So effectively he has a 14m share interest....that should be enough motivation.
Not sure if we would be classed as in a closed period with the potential JV and so many results processed, but not published. If so it would prevent ECR employees from buying shares ATM.

And remember the skillset Adam Jones was brought in to the vpmpany for.
He is a specialist in modelling the reefs and deposits.
So if he is excited with what he sees at both sites its a good bet that the gold is being further indicated as matching the models.
He's not worried about hitting 40g/t on the first few targets. He's more interested in proving the modelling is correct that shows the anticljne St Baillieston and the continuality along the 7km DMS at CresWick.
If the structures are aligning with his modelling then he will be confident where the liklihood of gold is and future drilling programmes can be more effectively targeted and then we will see the high grades come in.
It's a game if patience.

listened again and another 145k added to round it up to an even 200k on the day.
This could be the start of a continual newsflow over the coming months and the sentiment is going to turn here big time.

Unbelievably positive interview ...I'll have another 55k share top up on the back of that, thank you very much.
Continual newsflow (one a week) upcoming
incredibly bullish on both Creswick & Baillieston.
Prospective JV partners still knocking on ECR's door.

Looking good!