Member Info for TalkingSense

dsymons.....you posted that the company was trying to raise £5m yesterday so i guess you are an expert on b*******

Yep , Took a couple of hundred K more myself (rude not to).....absolute steal at these levels IMHO

POG looks like it could breach $3900 imminently ....currently $3891

By my reckoning about 44m sold today...if it is Doc that's two thirds of his holding .

Whoever it is, that's a large chunk.

I do wonder if one of the people who took part in the fundraising of £580k @ 0.175p in Sept 2023 is now offloading their shares.

There may have been an agreement that they could not sell for 2 years which expired a couple of weeks ago.

Just a theory, but I cannot fathom why anyone else would offload 5m @ 0.24 at this stage of the companies development (although it takes all sorts)

A large seller and few buyers today...that's the reason.

Nothing materially changed from last week on the company so no operational reason for the drop.

Second set of drilling results due any time now from Blue Mountain.....which will determine the SP direction moving forward.

Cocpops...my little BB clown.

You wanted figures based on company presentations and those figures are.

"they have no contracted buyer" .......that one really made me laugh....they are really going to struggle to sell the gold.....pmsl.

Placing due in 2 month ....that is a statement not based in fact ....but I'll amuse you as you've been throwing that deramp out for months (and it's not happened)..

So we need a placing in 2 months (in reality funds are needed sometime between now and April, no-one knows for sure).

So lets say they want another year's funds (go for the maximum) until BM is in production....£800k

In a month's time they will have confirmed (as looks"very,very" likely ) that BM is commercial and the SP is , let's go conservative, 0.45p.

So they would need to issue c200m shares @0.4.

So for the worst case raise amount (£800k/1yr) at the earliest possible placing they would be looking at a dilution of 8%.....not exactly the monster raise that you allude to.

And that's assuming a raise is needed.....

as on the flip side the resource is proven at BM and the company can raise finance against that resource which then means zero dilution.

Cocopops,(resident bb 🤡)

The revenue numbers are not made up as they were presented by the company.. I have simply taken the company forecasts as released in the RNS (https://www.lse.co.uk/rns/ECR/operations-update-and-tvr-b2f39qgycy4fnw4.html) and amended the POG price for the current gold price.

You seem to not know the difference between revenue and profit. Although cost of extraction will be low as it's at surface extraction and the recovery method is simple.

Even at a high estimate of 50% costs there would still be a $9.25m annual profit.....current ECR annual company expenditure is c £1m , so self funding with plenty left over for investments/new projects.

Correction $18m a year revenue (not GBP)

To give context ....every $1 that the gold price rise by add around $4000 a year on to the revenue forecast for the 60 tph washplant that the company published.

So the c$60 that the gold price has risen since I did the £18m year revenue calculation last week has already added just under quarter of a million on to that figure.

....just keeps getting better and better.

Current mcap under £7m

Who doesn't love a "1" share trade (if you believe in the 'code'.

The second set of Blue Mountain drilling results could arrive from next week which could enable an estimate of the resource 'in the ground' which would be a big step forward to install further confidence that BM is "very, very commercial".

The final step will be confirming the recovery rates from the washplant testing .

Once this is done we will get a final revenue forecast and be able to put together a mining plan which can be sent for the Mining License application.

BM will move forward swiftly on this process over the coming month......Step one: The final drilling results- next week?

"dont forget the facts"...well I suppose clowns are meant to make you laugh.

🤣🤣🤣🤡

Cocopops,

"your shareprice is here as market cannot price based on interviews"

Thanks for pointing out that there is no production priced in for the current SP and I agree with you on this point, there will be significant upside if , as the company have indicated, they are confident that BM is "very, very commercial".

Interesting that you used "YOUR shareprice" ...confirmation you have no interest in investing and are just a sad BB troll🤡

Hey Coco (the resident BB Clown)

Water issue is already understood with a solution identified to support large volume washplant if needed (Nick interview)

Landowner on board (multiple interviews)

We know a full license is required (reasonably straight forward given low environmental impact - (multiple interviews)

Staffing and equipment ( we have a washplant already - if we use the option of an experienced partner (possibility as per multiple interviews) then staffing and equipment will be their remit. And will be already in place or quick to put in place.

Millions of pounds to set up???? - partner will take share/main cost of set up . And it's a relatively simple set up not requiring masses of capital.

So as usual your negativity has already been addressed/ answered.....

....and as for buyer of gold .....are you seriously intimating that they won't be able to sell the gold.......pmsl

Quick recalc of revenue estimate:

Previous 60tph washplant revenue estimate was $1.3m/ month based on gold price of $3290

Current price of gold is $3783 which would put the monthly revenue at $1.5m

THAT'S $18M PER YEAR !

Trevor, They are effectively paying for shares as they are sacrificing salary.

Just like you pay towards your staff pension when you contribute x% of your salary.

This discussion has been had many times on this BB......I'd be more worried if they were being paid cash only and had no skin in the game.....Shows they have confidence that the future SP will be higher as the company progresses.

Yes, SP makes no sense at the moment....should be challenging the 0.4s IMHO at the moment.

There are companies in AIM with no prospect of near-term revenue with licenses in less safe territories that have higher MCAPs than ECR....the market will figure it out at some point (in the mean time I'll keep topping up small amounts as funds allow).

Next news off the rank:

Second set of BM drilling results

Washplant recovery results

Commercial viability confirmation at BM (what size washplant?)

Confirmation of Creswick JV contract

Lolworth drilling progress update

BTC strategy update

Actually the answer is "Very, very commercial" 😃

So this week we confirmed the first set of results were commercial grades..and an extension of the original identified resource.

And we have a HOT on Creswick which was considered a low priority project.

2 great pieces of news...and the SP drops by 0.01 on the week.

AIM is a cruel, and sometimes nonsensical, mistress.

🤣🤣🤣🤣

You do make me laugh Coco.

"havent even got a plan for trial mining yet " - They are trenching and running dirt through the washplant now which is trialling production (so alluvial 'test mining').

Once they have the second set of drilling results and completed the test washing they can put together a commercial plan quickly and apply for the license which is reasonably straight forward given low environmental impact and not on native land.

License could be granted Q4 this year or Q1 next at the earliest...no-one knows (so the Q3 statement as fact is unfounded).

If they do partner out to a established production company the equipment and staff set up time would be minimal...so no time issues there.

0 for 3 Coco and still the bb 🤡

Good interview .......I am confident that it's a case of 'when' and not 'if' ECR go into production at Blue Mountain.

And Nick was supremely confident that this will happen.

We just need to wait for the market to catch on.