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pepe, When we have a JV on Creswick and start to get the results from drilling in and also start to drill our 100% owned Balieston then I will be devastated if our mcap is a mere £30m.

Just look at GGP and other gold companies who are further down the journey and take a pessimistic view that our mcap will only be a quarter of theirs.....then you see the true potential here.

To clarify, We will be going alone on the Balieston license drilling programme.

mcap here still only £14m

Hi Hawkspear, I am surprised we are nearer 2 than 4 given the upcoming news, interest shown by major companies and price of gold.
I think this will steadily increase as we wait for the ground exploration results....I think that and the drilling programme (which we are going alone on) will give the SP a boost.
The real boost will be when the Creswick JV is announced, and if it is a reasonable deal it will multi-bag from here pretty quickly IMHO.

(Alliance News) - Gold soared well clear of the USD2,000 an ounce mark early Wednesday, as the dollar continued to weaken on concerns about the US economy.

The precious metal was quoted at USD2,027 an ounce at the equities open, having touched a record high of USD2,030.

"Gold is on fire," said City Index analyst Fiona Cincotta.

"With Congress promising to work round the clock to reach a deal on a new rescue package by the end of the week and comments from the president of the Federal Reserve Bank of San Francisco that the US economy will need more support than initially thought, the stimulus taps are firmly switched on with no signs of them being turned off anytime soon," Cincotta commented.

"With the global economic recovery expected to be more drawn out than initially expected and the US dollar losing value, investors are increasingly turning to non-yielding gold to store wealth. Given that high fiscal spending and extremely accommodative monetary policy are expected to be in place for years, there is a good chance that gold has higher to go."

Added Stephen Innes, chief global markets strategist at AxiCorp: "The latest rise in US-China tensions that brings the [phase one] trade deal into question adds to an extensive laundry list of concerns that are sending investors toward safe-haven assets, and gold seems to be top of that list."

Re the US bailout.
I believe Carnival is part registered in Panama , you can't a US bailout if you are not a 100% US company and pay all your taxes there, so Carnival did not qualify.

Dill is absolutely correct, pointless putting forward a drilling programme for Creswick when a JV will massively upscale that programme.
The effort over the Australian winter has been in supporting the Due Diligence for the prospective JV, streamlining our projects/expenditure so that we can concentrate on Creswick & Ballieston and completing more comprehensive ground exploration of Ballieston o prepare for a drilling programme for which we have already had the fundraising (plus some nice extra cash from warrants being exercised).
Craig Brown stated in his last interview that the Australian summer is the best time for drilling , so when they announce the ground exploration results this month I expect that they will announce a comprehensive Ballieston drilling programme either at the same time or very shortly after.

I believe we have another 5 pending applications, mostly adjacent to our current licenses

No drilling at the moment.
We are due ground exploration results for the Ballieston license in August so they could arrive any time.
Also Craig Brown said there would be an extensive drilling programme to be released soon for , I think it was, Blue Moon, Cherry Tree and Cherry Tree South within the Ballieston license which would indicate that the ground exploration findings will be positive.
I don't think we will get a drilling programme for Creswick until the JV is agreed as this would dramatically upscale any drilling that ECR would plan alone on that license.

The same post next month should include:

What a month for #ECR sat circa 2.17 when we updated on the 31th July
Now ECR sits at an new 52 week high of x.xx (or xx.xx :-)

* Excellent Balieston ground exploration results
* Confirmation of extensive Ballieston drilling programme (Blue Moon & Cheery Tree/Cherry Tree South)
...and hopefully
* Company transforming JV deal on Creswick signed with (insert major company name here).
* And maybe the granting of one or some of the 5 applied for licenses.

Starting the month with a Red Dot Monday would be nice!
Feeling very positive !!!!!

In the video interview Craig said there were 100s of thousands of ozs confirmed at Ballieston....not sure if that was a slip on the upcoming results as I cannot remember that sort of number being published (obviously 'confirmed' is an estimation and not a JORC compliant confirmation...before someone jumps on that).
It does make you wonder if the goalposts have shifted on Ballieston with the soon to be published exploration results and if that caused the last JV proposal to be rejected?

And the Ballieston ground exploration results are due in August so could drop any time next week.
In the last video interview Craig Brown seemed more bullish about Ballieston so I am expecting some good results....and that should be followed by the drilling programme for Ballieston.

So positive news due any time for both main licenses.

Gold $1974.67
:-)

A one share trade @ 2:54 for all you MM code conspiracy theorists.

Next news was due in August for the ground exploration work that has been undertaken ( I think someone mistook the video for the latest interview). So any time from next week.

Having said that I have rewatched the video again and I think that Creswick negotiations may be further advanced with some parties than I had previously picked up - he talks about getting a presentation from an interested party on Creswick in the next week or so (the video is now about 3 weeks old) .
So news on Creswick could drop any time !!!!

The other thing I picked up on the re-watch is the bullishness of Craig on the Ballieston license, with Blue Moon already at hundreds of thousands of ounces and a comprehensive drilling programme planned. Sounds like Ballieston could develop really nicely and the improved view there could be one reason why the second JV offer did not come up to requirements.

Morning All!
Below is the link for the latest two interviews from Craig Brown.
The podcast on the link is the latest with the video pre-dating that by about a week.

https://total-market-solutions.com/2020/07/23/ecr-minerals-july-2020/

Both worth listening to if you are relatively new here or thinking of investing.

Thanks Thriftygirl. I did take a look and it is c £4.2bn in total.
The c 1.2bn in secured notes from July @ 10% and the 3bn from March which I read as 7.5%, but Iam sure you are better versed on CCL than I so i will bow to your 5% overall figure.
Going to crunch some numbers and see if they can service that before I invest.
Thanks

Thanks Thriftygirl that really helpful...I thought the whole point of a BB was to share knowledge.
Guess not in your case.

In the words of Mr T
"I pity the fool who panic sell !"

Hi Can someone please let me know what the repayments values/ timings are please.
May look to invest , but want to know future outgoings so I can weigh these up against revenues.

Thanks

hi Mercedesman, The $a6BN comes from a Craig Brown interview...I think around the start of June.
It was his estimation.
They have only drilled a mall portion of the total 7km strike length so I would assume (and it is an assumption) that he based this on drilling so far and the surveys and testing they have carried out along the whole license.

Of course if he is correct then the $a6BN is now nearer $a7BN with the increase in the price of gold.