Member Info for TalkingSense

Was being quoted around 0.73 to buy @ the time.

Cereus, Please sell up, I'm looking like my 0.7 buy in target may actually happen (finally) .
Your help would be appreciated.

It's going to be a daily 'paint dry' day until JV news IMHO.
The company will be under NDAs on negotiations so cannot update us on progress.
So will likely get JV news without warning

A case of being patient and waiting for the red dot....then hopefully reap the rewards.

Tamer, In that case I need to trade in multiples of £85 in future :-)

Interesting way to buy...all 7 are multiples of £85 @0.85.
Why not just buy in one trade?

Hi Tamer,
The Oz government is a big backer of both miners and foreign investors already and there been $bn investment in exploration over the past few years in the country. Nice to be in a territory will little/no barriers.
Mr Tang confirms this in the interview on he post a couple down from this (spoiler warning: You will need to have a cup of coffee ready to listen to the interview as it is DULL!)

Hi, AndytheMKdon.
Hope you are well. Nice to see one of the 'old school' still posting on here.
Not posted myself for a couple of years, but have been watching in the background.
A couple of years after selling the vast majority of my holding, and just keeping a minimal holding in SAR , I am thinking of buying back in again.
Will be waiting for a buy in around 0.4-0.45 as I don't think we will see any significant updates here in the next month so the SP will inevitably drift.
Looks like there may be some milestones hit over the next 24 months so I think there is value to be had here....SAR is the ultimate patience tester!

I hope you all enjoyed the sunshine over the weekend.

A low volume start to the week , but with the vast majority buys.
I would expect us to see a few more here as some GGP holders take some profits and look for the 'next GGP'.
ECR fits nicely in to that mould so we should see some transfer in to this share.

Could be something brewing?
But not before we dip to 0.7 and I get my top up (ever hopeful).

News could happen any time , and those not in will be too late....but you should still sell so I can pick up a few more cheap ones...lol

I'm with you Dill....around 2013 although I offloaded the majority on 'the Itagon bubble' .
Have re-invested when I can on dips over the last 6 months as I think you are right that we just need a little patience.

THREE companies doing due diligence and a number of other approaches mean that a deal is more likely to happen than not....and our Mcap is a mere £4-5m.
A lot of potential upside here!

Dill...You ask that every time and you get the same answer.....I have my targets and those I am not going to share.
I leave it to each person to do their own research and set their own targets.
You'd be stupid to take any notice of me.....or anyone on a BB (quickest way to poverty).

Anyway, catch you at the £1 party next week....LOL

Timeline is out of our hands on the JV as it will be reliant on how long the DD takes which is determined by the other parties.
After DD is completed I would assume a re-negotiation based on the findings.
During the process I would expect it o be covered by an NDA which means that (however much we would like them) we won't get any updates so the deal news will just drop one day without warning.

Gotta be in it to win it !

Can I claim reverse psychology?

The drift has stopped but I'm still hoping to pick up a few more shares @0.7.
If a few of you would be so kind as to dispose of your holding it would be much appreciated....low volumes so shouldn't take many ;-)
Don't worry about the boots on the ground or upcoming possible deals.

Your help is appreciated...LOL

GLA

Was hoping for another top up @0.7ish yesterday....then those large buys came in.

Sorry Dill...Bit busy there.
The lab was built primarily to test the care samples for the now famous 'nugget gold'.
This was an important step to prove the initial drilling results and it was hoped increase the grade results from the drilling significantly.
The grades did increase slightly and they were confirmed. The lab has also I believe been used for the recent testing as well.

The full bag tests were a very necessary step in proving the nuggets and in leading to the prospect of a deal.
And that's why we are in such a good position as we are now.

And let's presume we give up 60% of profits for £20m worth of funding for drilling/testing to prove up the whole of the 7km strike ...that would still be a HUGE step up for what is currently a £5m company once the resource is proven and the value of the license is £xxxm.

Hi Boffin,
Absolutely agree that the £5bn is an opinion and in no way a guaranteed figure (don't think the SP would be here if it was ...LOL).
I think? Craig said in one of the podcasts that it will cost in the region of £20m to prove up the resource fully.
This is why the next logical step in to get a JV partner as ECR absolutely have not got the means to do this themselves.....300m out of a 7km strike tells it's own story.

Thankfully there is a lot of historic data for the area , the recent additional testing and at least 1 potential JV partner with boots on the ground doing additional DD so potential partners can get a good idea of the possibilities here.

With 3 potential partners and many others who have previously approached we can we can be confident that there is something substantially commercially viable and that we should see an agreement going forward.

Only time will tell the size/scope of that agreement and once signed this should see a large cash injection and significant acceleration in the speed of proving up the resource.

Little downside I can see here moving forward...but timescales are currently out of our control with DD and final negotiations to be completed.

In answer to your 'What do they think they are sitting on" question:
In a podcast around 20th April Craig Brown said that Creswick could hold up to $5 Billion worth of gold....yes that's BILLION.

Morning Cereus,
We don't need any gold out of the ground as we have plenty of cash to keep us going after the recent fund raise and licence disposal.
What we need now is a game changing JV agreement and that will only come with time after the THREE companies seeking a deal have completed their DD...and apart from supplying any requested data (and final negotiations), that timeline is out of ECRs hands

Cereus,
I don't think we will get a full takeover in the short/mid term as the $A35m tax credit is subject to continuation of ownerships and this would be lost if a full takeover occurred.
A JV will be extremely transformational here. The MCAP of ECR is a mere £5m and any JV agreement should multiply this by a number of factors.
Just for giggles let's look at GGP with a MCAP of, I believe, £350m+. If we get to a fifth of that then we would be looking at a SP of 14p ….now I am not saying that will happen or that there is a direct comparison between the two.
But if there is a good JV agreement then a double digit SP would not surprise me at all.

Yes, All speculation, but we know a deal is probable rather than possible and the effect of that agreement …..time will tell.