Member Info for TalkingSense

Yes, the money will be fully received later in the year (absolute guess would be July/August).

There may be a downpayment of some sort on agreement of the terms...but that is just speculation.

That's why the raise was necessary. To enable all the projects to still progress at pace and not be reliant on the deal.

Of course Blue Mountain income may start to kick in at some point in 2025 if it has progressed to production.

Obviously the company believe it can be done and the other party believe it can be done otherwise both parties would not have signed up to the deadline.

The end of January date is for the deal to be agreed and signed....not for the transaction to be completed.

That's why we did the fund raise to cover us to the end of 2025...to enable the actual restructuring of MGA and other required actions to get the physical deal completed.

Another small 100k top up to bring my holding to a nice round number...Now I'll just sit back and watch this progress over the next 10 weeks (put's feet up on desk)

Https://youtu.be/wR_c5kjvdxY

Quick summary:

"The January date is not a target, it's a deadline"

Funds enable ECR to walk away with 4 other parties interested if the cannot get an acceptable deal (good bargaining position)

The other party has spent money on hiring a specialist consultant to broker the deal (they are obviously serious).

The deal would have to include some non-core elements of MGA in Victoria.

All activities funded in 2025.

Looking to go alone on Blue Mountain in to production.

A lot has changed in the 7 weeks since they said they weren't lloking to raise....natably the prospect of Blue Mountain being taken in to production.

The raise was at a premium to the yearly average (and if you bought this year, apart from 17 day trading) it will have been at a premium to your buy price.

Cocobeans/Rxdix/BMD/paid deramper (see I can make stuff up too)

So you have no evidence that the MGA/tax credit deal won't be agreed in January.

Thanks for confirming.

Posred by BBN:

Since #ECR last raised funds on 13th March 2024 there have been just 19 days when the SP has closed above 0.33p.

17 of those days are every day between 1st Nov and yesterday. Leaving just 2 prior days (both 0.34p closes) and yet the BOD got a nearly £1m raise away.

Miso...this post

https://x.com/TMSreach/status/1861416359973765149?t=eoIL8iRQKghsRLV05Ymtvw&s=19

Yes you are wrong, previous raise was for all activities in 2024.

Levistubbs, Should be reasonably low cost as they will use a standard gravity fed production system.

No chemicals and not an overly complicated system to set up .....pretty standard kit.

And extraction shouldn't be expensive to set up either as they are only going down a few meters.....just need a big a$$ digger and some large trucks...lol

Cocobeans,

"I bet that wont stop a few boards members ramping it in January knowing its not anywhere near happening"

Have you any evidence that a deal won't be done in January?....I guess not

A lot of baseless deramps on the board at the moment

Sausage ....very emotive language with the 'massive' dilution

The dilution was actually around 13% and secured ECRs finances for the next 13 months...

........and it sounds like the financial stability was a condition of the MGA/ Tax loss negotiations continuing.

Yes, Doc did not anticipate needing to raise when he posted 2 months ago.

But as you will surely agree a lot of news had come from ECR in the intervening time and especially on the Blue Mountain front which moved from a testing phase to looking at the commercial viability (which will take funds to set up).

I believe the BOD own less than 6% of the company Saussge so no imminent management takeover.

I have missed your baseless deramps.

Hi Coco,

Can you provide one actual example /evidence for your statement below?...I'm guessing not.

The BOD have not paid themselves consultancy fees since M&N took over...this was stated last year

Good one Mags....On this negative angle you have come up empty....The BOD would have to notify the market if they sold their shres.

And why would they sell with the MGA disposal still being negotiated and the Blue Mountain commerciality being worked on in Q1.

So that one's a dead end....now let's see what the next negative angle is.

More funding required....oh no, someone's already tried that one (unfortunately we are funded for 2025).

MGA deal dead in the water......no evidence of that. The other side has employed a consultant to negotiate the deal so still on.

Blue Mountain not happening.....No , again the situation there has not changed and we now have funds to push that forward.

Mike's 'could be hours, could be weeks' comment.....well everyone only quotes the first part of that.

Perhaps the Tambo results will be lost in the post (the most prospective holes are yet to be reported).

No , all the above is still happening.

The only change here is that we have £1m now to fund us through 2025 and the MGA (tax) negotiations are going to take longer than anticipated.

Operationally we are pushing on at speed and will still realise the same value in 2025 as we were before.

I just feel sorry for all the traders who got burnt (I don't really)

* Lolworth will continue to be explored and a drilling programme will still happen in 2025.

As expected the exclusivity has been extended.

This was widely discussed yesterday and the consensus was that this would be the case.

In the interview yesterday Nick had stated that there had been some hurdles that had been overcome (one probably being that ECR had to prove it's ongoing financial viability).

This is the first RNS where an actual expected deadline for an a deal (end of January) has been given.

We are still funded for all of 2025

Blue Mountain commerciality is still being pushed ahead with and the potential $275m of gold is still there

The drilling results in Tambo will still come

Tambo will continue to be explored and a drilling programme will still happen in 2025.

There are still at least 5 companies who have had access to the 'ECR data room'

Nothing has changed apart from the deadline for a deal and the extension of the deadline will not impact the pace at which ECR drives their projects forward.

The RNS is only bad for short term traders ....investors should be re-assured that there is financial and operational stability guaranteed for the next 12 months and progress is being made.

On the MGA disposal with the tax losses attached there seems to be a misconception that the deal structure is agreed and a cheque is written the next day however there will be a delay between an agreement and the cash coming to ECR.

* Once agreed in principle and deal will need to be thrashed out with all the usual legal rigmarole.

*The 'core' assets in Victoria that are currently held within MGA will have to be transferred to another ECR holding company .

* once the above is done it may be that approval of the tax loss transfer is required from the Aussie Tax office (this may be a condition of the sale)

* And then payment can commence , which could be a lump sum or structured payments.

All the legal bits above cost money and that is what is referred to in the RNS today .

Also while all this is happening ECR need to remain solvent and progress the projects at ambo, Blue Mountain and Lolworth so need further funds (which they have now secured for the next 12 months)

InvestorPA ....Wow , i don't think you can accuse the BOD of making false statement after you come out with a whopper like 'demonstrates clearly that you participated in the raise.'....pmsl.

Can you please also clarify specifically where the BOD has misled investors.

The no planned raise statement was made nearly 2 months (around 10 RNS ago) and the whole company prospects have changed since then.

Part of the negotiations may have been that ECR had to prove that they were financially stable for the foreseeable before the other party would commit time, resources and cash in to progressing any deal.

So where's the lie?

Have they lied about the negotiations....they have been going on and an agreement could be reached any time.

Have they lied about Tambo drilling ......completed on time and with a good first hole results.

Have they lied about Lolworth .....they have had assistance from the state government body.

Have they lied about Blue Mountain ......new geologist taken on to push towards production and results produced by Gecco who are an independent company.

Just because you get caught on a trade through news being released unexpectedly does not mean you've been lied to ....in fact the evidence in to the contrary.

If anything the long term prospects of the company you have invested in have been enhanced as it should from the Nick interview this morning that the main blockage to a deal (ECR financial stability?) has been overcome.

Hi investorPA.

How many companies have you known that have openly said that they will be doing a raise in 1 or 2 weeks?

Well I had another 500k top up this morning.

Great opportunity to get some more on the cheap and with the added bonus today of seeing all the short term traders that have played ECR over the past few months getting burnt... they are whinging like hell on X (a lot of them are the parasites that have made AIM the casino it is so no sympathy here).

Any genuine LTH here won't be too worried about the placing in the mid/long term.

the placing:

Provides financial stability for the next 13 months.

Put's us in a stronger negotiating position on the MGA sale (tax credits) deal with progress being made (as per interview).

Enables work to prove up the commercial viability of Blue Mountain.

Enables work to progress on Lolworth and Tambo.

This removes all financial uncertainty/risk for the next 12 months.

And some are complaining about the company talking up the prospect ....well the prospect have not changed, they are still excellent (and seriously, what did you want the company to do, talk the SP down so that the dilution was far greater).

Operationally ECR are still in an excellent position.