Member Info for TalkingSense

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Talkinto , I don't think any extra funds in to Blue Mountain would speed it up.

The required fund to get it into production are in place, they are planning the equipment & Planning set ups, have got a good relationship with the land over and have planned in the surveying to identify the best targets.

I don't think this can move at a faster pace than it already is.

When the $295k a month production kicks in the future dilution worries are removed (and we have none for 2025...and that's not taking in to consideration any MGA deal money).

As for the 50k fee. I expect that both Octa and ECR have asked for the extension as they are discussing partnerships on multiple projects and this may for part of the overall deal (farm in to Baillieston? for example) so the extension may not have been solely on Octa's request.

I take your point on the exclusivity ...not sure if that was a good or bad move.

Contrary to what some are posting on here...the deal is still well and truly alive and should be agreed by the end of March.

Regardless the process towards production at Blue Mountain will continue, and once the traders (who I have no sympathy for as they generally invest with little/no research) are cleared out I can see this bouncing back over the next couple of days as the BM news sinks in.

James, What evidence have you got that the tax deal isn't going to happen?

Excellent update on Blue Mountain with an initial estimate of $295k per month.

Current annual exploration is under £1m a year so will easily make ECR self funding and still c£1m left over for running costs/profit.

All set up costs are covered by current funding.

MGA deal delayed by another 4 weeks. Not really an issue for LTHs , although I'm sure the short term traders will be unhappy.

Interesting to see what these other collaborations are.

And another interested party in the wings to keep Octo honest.

Cocopops,

The company has said it hopes for production within 6 months.

The floods are in Northern Queensland so don't impact any work at Blue Mountain.

Lolworth may be in the flood area, however the promised drilling programme is not due to start there until after the rainy season.

So no impact on ECR operations.

Sharerookie.....was the RNS titled "Made you look" ....lol

Mental, Agreed that it's not great that we have had no updates (apart from where they are).

Telling that there has been radio silence on the whole week.

It could be that ECR have learned the lessons from the past and are not going to release part of the story (i know you won't believe this , but some posters eek out every gap in communications/details and portray a negative outlook)

I will be happy if we get a comprehensive and clear update next week in to the Tax loss deal with confirmation that it has been agreed , but delay in signing while the legals are finalised, signed or negotiation have broken down (unlikely IMHO).

And if agreed/signed what the details of the deal are. .......clarity is what is required moving forward.

Also on the BM visit,: confirmation that the land owner has come to an agreement which paves the way for the mining license to be applied for and expected timescales for approval (from memory I believe we can extract up to 1000 oz without a license - happy to be corrected).

Also a timeline for when the actual production/set up plan will be laid out.

Next week is not a time for sound bites , but I do feel the had of history on our shoulder ;-)

But seriously, we need a clear and concise summary of the Tax Deal and BM plan progress and next steps, next week.

Hi Cocopops.

I was simply doing the maths for the value of gold at Blue Mountain:

100,000oz x 91.7% recoverable = 91,700

Mutliply that by $2807 (current gold price)

That gives : $257.4m worth of gold

However we have been told by the BOD that cash balance currently held by the company covers the Blue Mountain set up and all planned activities for 2025........so from that we can deduce that the set up cost is well under £950k.

And as for ongoing costs that is unknown at this time , although with near/at surface resource (low cost extraction) requiring an 'out the box' simple gravity fed recovery process we can predict the margins should be sizable.

Just doing some quick BM maths

100,000oz x 91.7% recoverable = 91,700

Mutliply that by $2807 (current gold price ....and yes Cocopops , the price may rise further before we go in to production)

That gives : $257.4m worth of gold

Current mcap = c £7m

Anyone see an upside here ????? ;-)

13:51 What a bunch of absolute senseless waffle.

and in 13:55 ....."who they are selling too".....you really have really lost the plot and are getting desperate to find negative slants.

The margin will be the margin as you say, but with a shallow resource and simple recovery method the odds are they are going to be very decent.

Looks like we will find out Monday what the outcomes of the discussions and progress on the deal is.

Morning Cocopops,

I see you were up early this morning (bed wetting not improving I assume).

No , we don't currently sell any gold , but there is an estimated 100k oz (maybe more) which we will start to produce in the next 3-6 months at BM (I think your production estimate is a little pessimistic, unusually for you).

Thankfully the funds are in place for this and there is no risk of a raise in the intervening period....and all planned activities will continue at the other assets (drilling at Lolworth at the end of the wet season for example).

Most commentator on gold believe the price will continue to rise so you are correct in your observation that ECR will not be selling at todays price.

Cocopops, Shareholder general meeting would only be required if Rule 15 were triggered which this deal does not.

So you are incorrect.

So Coco, their mates are given thr opportunity to buy placing shares at 0.33 and then they are selling them under the placing price.. ...so they are making a loss.

Don't get your reasoning (and you still have not provided any evidence these are placing shares being sold) and it just makes no sense.

Some may speculate you are just making it up.

Harchris, To be fair it's only one or two posters pushing that narrative.

As a few have put on here , we probably won't get any update until at least tomorrow/Thursday , and then it could be limited information if final negotiation points are still being discussed.

Nothing we actually know has changed.....everything (antimony in/out of deal, JV, delay) is pure speculation based on little/nothing over the last two days.

As you were gentlemen (and ladies) !

They may have more than £1m

The £2.25m will be paid by the end of March.

"rest of the assets arent worth anything" Have you got anything factual to back that statement?

Have you seen the initial results from Lolworth? I'm sure the GSQ (state government department)doesn't collaborate with worthless assets.

It will take a few months to set up BM , obtaining the licenses and getting the infrastructure/manpower set up for production, but that is it ....just a couple of months to production with an "at surface" resource and low cost/simple extraction and recovery methods required.

So we can expect revenue generation potentially by H2.

"the tax losses arent that material as the money is going straight back into the ground (if its ever received) therefore by 2026 "......Can you tell me where it says the tax loss money is going straight in to the ground.

The current funds in the company cover all planned activity for 2025.....the £2.25m is on top of this and it's use (apart from potential acquisitions) has not been specified. I am sure prudent management will hold some in reserve to see us well in to 2026....assuming of course that BM does not go in to production , which I feel is unlikely.

And if we get the tax deal over the line and agreement from the land owner at BM this week we could see fair value of 0.5+, and then with a BM production plan and inferred resource at BM (as the BOD have indicated they will look to provide) where will the SP rise too?.....And then we have other activity such as initial drilling at Lolworth and acquisitions that could also drive up the SP......fair value then could be multiples of the current level IMHO.

"the market knows of the terms of this tax loss deal- any other than this gets delivered its dropping anyway so its a known known"......Hang on, earlier you said the deal could drop through and not happen......Make your mind up.

Getting a little flustered there Cocopops. "but then again i know nothing"...probably the most factual thing you've posted today.....ROFL (as SV would say)

Here's the RNS with other parties interest confirmed:

Oct 7th RNS: Update on Potential Sale of Tax Losses

"ECR, through its engagement with Argonaut PCF Ltd (''Argonaut''), is currently in discussions with three Australia-domiciled public and private companies in relation to the potential sale of its A$75 million of tax losses. Each company has signed a non-disclosure agreement."

There was a 4th (and I seem to recall maybe a 5th) interested party which were disclosed in interviews , but not RNSs as the exclusivity agreement was signed shortly after 7th Oct.

Coco the clown at it again...

"Just posted facts that these are placing shares" - so you can provide evidence of these "facts"? ....or just made up to fit your narrative.

"the other party holds all the cards".....Again a bold statement.....ECR are fully funded for the whole year and have at least 4 other interested parties who are interested in saving £10m+ in tax .....I would say ECR are in a strong position.

It was only a month ago that you were saying that the deal was too complicated and that there was no chance of it getting completed by end of Jan (you may have said by the end of Q1 , but I'm not 100% on that). You also said that the deal would have to go through AIM and shareholders, although this does not trigger Rule 15 and no shareholder vote is required.

You are just a sad fantasist with an agenda.

The 'facts' we do know is gold is $2750+, agreement with the landowner will pave the way for a mining license at BM, resource may be revised from 100k oz ($275m of gold !!!) , cost of production will be minimal.

And BM is NOT dependent on the tax deal which is being discussed this week and could be agreed by the end of the week...putting another £2.25m in to the ECR coffers and opening up many new possibilities for the company.

So Coco are you claiming that the 0.33 placement shares are now being worked/sold at 0.335?

That's a p*ss poor ROI if they are.

Nice to see ScarletVixen with her usual level of deep insight in to the company...rofl......lol.....pmsl.....etc.

14m buys from c11:15 yesterday and 7m from the end of yesterday just reported...

.....It's going to be a VERY interesting week next week ;-)