Member Info for TalkingSense

FTH, Thanks for cheering my day up.

You forgot about the £1.1m which is expected from Chen's warrants so let's call it £4.1m in the bank....and the company said it had enough working capital to see it through to the end of 2021 when we had £1.65m in the bank....so I don't think we will get a cash call in the next week or two ;-0

djwall1s,
You are correct. the last drilling at Blue moon was in feb 2019.
Craig did state in an interview mid 2020 that we do know of at least a couple of hundred thousand oz at Blue Moon.
I think that may be the largest deposit in Bailieston, however HR£ s the easiest to prove up and put in to production so that is why the drill is starting there IMHO.
I am assuming you are looking at the MGA website which has far more info on the projects and licenses than the ECR one:

mercatorgold.com.au

Sounds like a sensible approach

DGR, Don't let a % figure get in the way of profit.
Invest in the company you feel has the most potential would be my advise (my other piece of advice is never take advice on a BB :-).
I have been topping up and averaging up here as the more you have invested, the more profit you can potentially make (and for balance , the more risk you take).
I'd rather make more money and have a slightly higher average buy in and % profit.

Good Luck , whatever your choices.

And on the seller front I think Shen are offloading their 2p warrants.

Less than 3 months.
As stated a month a go by Craig in an interview.
. Their own lab enables them to unofficially test on site.
It also enables them to dramatically reduce the size of the sample needing to be sent to an official lab.
So they can send the samples anywhere in the world to get quickER results and at less cost.

Really Asleep? Go to twitter and search ECR Minerals.

RNS just says the machinery is on site and being commissioned.
Not unexpected or a game changer...hence the lack of SP change.
The seller is driving the downward move.

Funny how the MMs always get blamed by some for a fall , but never get praised for a rise

I believe it's about 60km

Hi Blanka,
97 million expired on 20th Dec last year and wa know Shen exercised their 55m 1.25p warrants so that's 152m accounted for.

We also know that Shen have/will be exercising their 55m @2p (I believe these are being worked through market at the moment) and will add another £1.1m to the ECR bank balance shortly.
Thar leaves 29m outstanding, however looking at the change in the ECR bank balance from £1.65m in the summer to the current £2.95m and accounting for cash burn it would suggest that the vast majority of those have been exercised already so I would say the outstanding warrants will be sub 10m.

So once Shen have cleared their second batch the SP should be uninhibited.

Happy for anyone to correct the above.

Just spoke to that bloke in the pub. He claimed Midas has had to stop as it's got clogged up with a nugget the size of an Aussie rules football. I'm getting the feeling that guy is not too reliable ;-)

Seriously, Nice to see some cores, albeit at a very shallow depth.....it's going to be worth the wait.

And then you have to factor in the cost of the spares, the truck we purchased to carry the equipment, staff and water supply on top of that....so it's more than a 160k commitment, although that is a good price for what Craig regards as a good standard piece of kit that he has used before.
The 160k was a great price as in the interview CB states a western equivalent is over a million.

JTB, Don't worry, I got the level of doubt from your post.

I think there is a reason there are more (and more informed) posters on this BB than on the 'other' BB.

JTB, The 6 month delay is obviously BS.

Dill, I think Craig played it well on the interview.
"We know the gold is there" and emphasised the 'favourable' DD technical results.
* We have a plan to drill Creswick in the future (indicating we are prepared to go it alone)....although he has queued Creswick a lot further down the line so a done deal will not effect the Baillieston drilling plan.
* He also emphasised that we are fully funded....so no time pressure to do a deal.
* We have more than one interested party.
* We walked away from Bailieston deals and prepared to do the same on Creswick if the offer is too low.

It was almost as if the interview was held for prospective JV partners benefit.

Well played Sir !!!
...now we await the offer

hahaha....must have talked to that bloke down the pub who knows about this JV thing.

I thought Newmont's Australia operations were based in WA?

Just watched the interview again.
I like it at just before 4 minutes when Craig states "It shows how substantially undervalued we are" with a massive smirk on his face (He knows !).
https://www.youtube.com/watch?v=sL1NoZ5wmYI

Hi Leflic, I think I am correct in thinking that another DD site visit had already happened on Creswick prior to December.
I'm sure Craig mentioned that in a previous interview.

Morning Dill.
It could.
I think it is highly unlikely that they will receive an offer until later next week at the earliest , so any update may be a offer received or agreed in principle.
I'm not sure if they will give one of those updates and will have to wait for the "Deal Done" RNS.
Also not sure if they would have to issue an RNS at that time if a offer was received , but an agreement was not reached.

My bet is on end Feb/start March for a finalised deal (if done) , but a nice steady increase up to when the HR3 drill results start to come in ...then we will see ;-)

Also shows that you can access a loan facility once you get to a certain stage of development so that dilution of shares is no longer an issue.
We have £3m..soon to be £4.1m in the bank so funding should not be an issue for ECR until probably mid/end 2022.

Also liked the bit in the interview where he talked about the prospects at depth and said we need to find a reserve near surface to establish an INITIAL MINE and the progress.
He definitely has plans for ECR to become a producer...and there is a huge difference between being an exploration company and a producer!!!

Loving the interview...getting too excited (looking forward to the naming competition for rig 2 in 6 months time as well ;-)