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On second view that late reported trade is from yesterday :-)

There it is :-(

Let's see if we have ditched the large seller of is we will see a delayed trade.
If they are gone I can see this steadily rising over the coming days/weeks as DD continues

LOL, 10 trades so far today

Finally, A little movement in the SP.
Maybe we have cleared the 5m a day seller.

We know that one of our 3 suitors has boot on the ground already, and the good news with the Covid situation improving in Oz is the other two may be able to get there soon too.

We may eek by multiples!!!

I think we will see a number of these chunky sales continually over the coming days/weeks as some of those who took the placement offload for a quick 40%+ profit (easy money).
Hopefully the majority of those who took part in the placement did so because of the prospects of the company and not for the easy money.
Until we get rid of the overhang we will be stuck in the 0.7-0.8 range….those offloads are easily being swallowed up though which is a good sign.

Of course we may just eek above 0.8 if we get JV news during that period ;-)

And, while he was not sure on the Balieston resource number, he seemed absolutely convinced on the Creswick 5 million.
They have signed contracts with 3 parties with one on site now...sounds like the 3 are big hitters.

All bodes well.

I think your answer is the £26k sell reported at the end of the day.
The trade was being offset with the buys all day which is why all the buys did not shift the SP.
Now that's cleared we might see some movement tomorrow.

Absolutely agree Bottmzup.
And with more than one suitor is a key point as well as we are not behest to one company who can low ball an offer.

Great licenses and a great negotiating position !

Dill , The shareholder value will arrive hen we get the JV announcement.
In the podcast Craig mentioned a possible £8bn resource in Creswick…. and he was getting panned by some on this board at the end of last year when he rebuffed an approach for a JV.
This approach obviously did not go anywhere near to the value he puts on to Creswick.

If/when a JV is announced it is going to be sizable given that potential resource estimation (even if it's x% out we are still looking at huge resource).
The potential partners are doing their DD so they are obviously not spooked by the £8bn number ( if that was a BS number they would pull out straight away) so we should be looking at an easily 8 digit JV which will give significant shareholder value.

Getting rid of the expense/effort/admin of the two licenses was a good move as the sheer size of those would have chewed up too much time and cash to prove up the resource, and distracted from the two 'core' projects.

In the interviews last month Craig did say that it would be fund raise, disposal and JV and that the 3 combined would give ECR shareholder value and clarity of direction going forward and we have 2 of the three delivered.

Given the numbers we are looking at in a JV I am more than happy to wait for a couple more days/week/ months.

SM, Interesting theory....and would be a free ride for Fosterville….although if they had been offloading in bulk yesterday we would have not got anywhere near 1p as they would have squashed any rise.
Another theory would be that taking the 100m shares would give someone a cheap way to buying 17% of the company given the potential future worth.....either would be a shrewd play.

Dill, I don't see this taking to the end of the year.
We don't know how far through DD the prospective partners are and would only expect this to take a month or two at the most.
We have to pursue further drilling as we want to prove up the resource further and it is the prudent thing to due in case a JV cannot be agreed.

Now it's just a waiting game ...Red Dot 2 watch commences :-)

Dill, That's why they will be looking at a large JV.
If there is even a quarter of the £8bn in the ground then one of the big boys wont blink at an initial £30m investment for a chunk of the pie.
We had an offer last year which was rejected and many approaches since. Holding on to get the right deal and then start to progress the project significantly.
We now have funds to progress further resource proving and drive the price up further.
Good move offloading the other licenses so we can cut costs and keep focus on the two potential company makers.

£8billion worth of gold potentially in Creswick...THAT'S BILLION !!!!!
And we have an MCAP of c£4.5m
Even if we give a big % chunk away in a JV this company could be huge compared to now in a few years...no wonder they sold off the non-core licences.
Top up time again for me.

This is following the interviews which Craig Brown did about a month ago where he suggested fund raising, selling off non-core licenses and JV agreements to get the 'core' high potential licences progressing.
That's part one & two come to fruition with another little boost for our cash position....now waiting for the big one!

Yes, that's the expected RNS for submission of the new shares.
Funding in place which may have been the last hurdle to enable a JV agreement.
All good here and no reason we cannot emulate GGP as we are heading on the same path...just with more of the (upwards) journey ahead of us.
Compare the MCAPs and you'll get an idea of the real potential here.

An sp of 4p would give the company an mcap of c£20m.
Given that we have a number of highly prized licenses in Australias gold hotspot and a tax credit of A$35m that does not sound unreasonable.
And that's not pricing in any upcoming JV deals.

The ASX probably has a better idea of the potential value if ECR where AIM is not as familiar with Victorian mining companies.
The good news is that the 4p would be prior to any deal being done (oh, it would be nice to be at that point pre news ;-)
Let's hope that AIM realises the 'true' value once deals are announced.

A number of us have been here from before the 'Itagon bubble'.
We all missed an opportunity there and saw the SP collapse. Lamenting that does us no favours.

That was with the old BOD and the new BOD has taken us in a new direction by obtaining great licenses in the Victoria gold hotspot to the point where we have potential partners queuing up to try to make deals.
The potential is huge here now and it is just a matter of time now IMHO before transformational news comes.

Now is the time to start looking forward instead of looking back with ECR.

And a nice late reported £15k buy to finish.