Member Info for TalkingSense

So 30% of the 32m shares (c10m) were assumed to be already allocated last year and sold by Panther.

Was that confirmed to have happened or just an excuse on the BB at the time why a lump of shares were sold....and was assumed it was Panther?

Happy that we effectively bought Blue Mountain for half price ....was originally £200k , but the allocation of shares today is c£100k.

Morning Sausage, Yes, We are an exploration company and that entails a lot of testing , mapping and analysis (not sure what else you expect them to do at this stage ?)

The previous company have estimated a potential of up to 100k oz at depths of just 4m......that'll keep you happy as I know you have depth anxiety.

Obviously they are very happy with the results as they have triggered the buy clause, are looking to extend the license for another 5 years and are looking to progress to the metalogical testing.

And work has been undertaken at Lolworth since May (I know a couple of weeks ago you were fretting over the lack of work at Lolworth and that you thought they were just working one license at a time) and they will be doing some Niobium and gold surface sampling and mapping followed by some trenching once targets are identified.

Lolworth for me is the company maker long term ( in my opinion it could be a beast of a resource) so glad to see us making some progress there towards identifying the areas/extent of the resource.

Another positive update.

No , still don't care.

There's not a company on the FTSE or AIM that publish a list of all the consultants they pay money to.

I've heard some speculating that it may be BOD members , but there would have to be a declaration if that were the case so those are wide of the mark

We are coming up to 10 months of the new BOD being in charge which is the blink of an eye when it comes to exploration timelines.

The buckets of rocks (they are actually bags/sacks0 are a necessary step in the process.

At least you will be happy when they announce the Blue Mountain testing results as they should come with a commercial viability view, and next steps .....could move ECR from an explorer to a producer.

For once I agree with you Sausage.

This will move on results .....and it may move quickly.

"you have no idea of my background."

But I know exactly where you're coming from.

A couple of points:

You have no idea when a deal will be done for the tax credits so yout statement "I can't see it happening in 2024" is based on no knowledge, just a negative outlook.

And given that you gave a rambling non answer to

" I'm guessing you have no idea what a good grade and depth is for antimony?"...I am no longer guessing I know you have no antimony knowledge.

"Is 32% poor grade sb?"...I believe someone posted an article last week where a 28% grade was described as outstanding...so 32% is an outstanding grade.

As you know I've piled in sub 0.3 here over the last year so no luck required here...Just sit and watch Blue Mountain alluvial production viability, Baillieston antimony, 10x Creswick identified targets, Lolworth gold sampling, Lolworth REE sampling, Lolworth drilling targets identification, Tax credit deal, Tambo drilling, Kondaparinga license, property disposal and discussions with neighbours to the east of Lolworth play out over the coming weeks/months...as well as any other developments.

Sausage,

I guess that's why they have employed the services of Argonaut, one of the bigger firms in Australia that specialise n selling tax credits.

How long will it take ....I don't know Argonauts client list ...they could hit a willing client first call or it could take a while...so I have as much idea as you do.

Personally I'll be quite happy to wait a few months if it secures a seven digit deal (I believe the figure Argonaut quoted in the RNS was up to £4.7m-£5.6m ( you and I don't have the knowledge to question those figures).

On the antimony , as you say no-one knows the horizontal extent. We look forward to further updates once it's been further evaluated. I'm guessing you have no idea what a good grade and depth is for antimony?

They can use any adjectives they want on Blue Mountain....the only word I want to hear is 'commercial' that'll severely shift the dial here.

Nice to see us 25% up on a week ago .....just the start of a sustained rise in my opinion.

Good afternoon Sausage. As positive as ever I see.

"How many times can you say the same thing?"....Looking in a mirror when you typed that?

You forgot to mention that Nick stated that unlike previous management they had sought expert advice to identify the method to sell the tax credits.

Yes they have said that there would be a shareholders circular if/when an acceptable offer to the BOD is received......that's process and is likely to be rubber stamped by shareholders

They also said that core assets would be transferred out of MGA as part of a deal.

Standard process if/when a buyer is found (struggling to see your negative point there?).

With regards to the antimony the high grades were a pathfinder (as you fail to put that Nick stated..."I find it weird that they can only tell part of the story?") and the results have yet to be fully analysed...I presume that they would match the known geology with the results and see if the antimony trends towards surface.

Please correct me as you seem to be claiming some knowledge of antimony exploration.

And yes , still no Blue Mountain results, but as that is alluvial and at/near surface you will be no doubt re-assured that that can be quickly and easily extracted.

Combination at the moment of those buying in and I suspect some people who bought hoping for a quick big rise on the back of last week's RNS (I know it's hard to believe , but there are people who invest with no research and have no patience.....lol) and have sold out as it has not instantly sky rocketed.

Being a lower volume day today a few buys/sells will slightly shift the SP in either direction.

The good news is the 600m (or whatever the number was) that was traded on the second RNS day last week should have weeded out nearly all, if not all of the sellers and has created a nice new support level between 0.3 - 0.4.

Blue Mountain or East Lolworth updates should be next off the taxi rank

25%+ UP ON THE WEEK !

TBC next week ?

TI, You beat me to it.....Sausage didn't mention that there is generally a step change in the MC of a company when it transitions from a explorer to a producer.

Another possible 'game changer' to the SP

*Move from explorer to producer

*Find JV partner on Baillieston/antimony

*Sell the tax credits

*REE / JV on the east of Lolworth (already had discussions with the neighbours)

* Lolworth continues to build on the outstanding sampling results from last season and moves towards a resource estimate.

All the above can shift the SP significantly

And then you have positive impacts to come from:

Creswick property disposal

Continued exploration of Creswick (only 2 of 10 identified targets drilled so far)

Tambo drilling this year

Kondaparinga license granted and initial sampling

So many positive moves to come this year (I'm sure I've missed some)

Yes you did....But that's not the only method for extraction and may not be the most effective method .

I'm sure the ECR team will find the best method...Adam said in his recent interview they were evaluating various methodologies. (and from memory there is a processing plant somewhere near BM)

Also SV, The Blue Mountain project is aiming to do exactly that ...be on a path for near term production.

Being alluvial it can be tested and, if commercially viable, put in to production in a short timeframe.

All our other assets which are hard rock need the much longer process of surface testing ,rock chip sampling, mapping geology, drilling (and testing the buckets of rocks....although the 'buckets' are whole bag tests) and proving up a JORC resource which takes a longer time to go through the whole process, Something a lot of posters here seem to not understand/ or ignore for a negative narrative.

But as far as Blue Mountain is concerned you find the resource, test the alluvials , identify the grade, identify the extraction method and dig it out....much faster.

The next expected RNS is probably the Bluer Mountain grades and commercial viability.

80-100k oz was an estimate from an old license holder.

We will see if there is commercial viability and the initial estimated resource.

Having an income stream would be a major step forward.

Mental....Agree there are a number of 'questions' that you would ask of previous BODs.

It's refreshing that the current BOD are actually moving forward on BM (sat stagnant under Haythorpe) , Antimony (no action previously) , Tax losses (again talk , but no action), Tambo (was stagnant).

Definitely a sea change in putting talk in to action.

Dara, The figurs in the RNS were from Argonaut on the amount to be expected ....they did say 'up to' so the figure may be lower....but even if the came 20% lower than the lower end of the estimate you would still be looking around £4m (let's face it any 7 digit figure would be a game changer ) which would open up a whole new range /speed of exploration activity options.

Sausage, I did say 'if' we sell the property...never said I had a timeline.

Mike did say in an interview recently that we were funded in to 2025.

We have employed a broker for the sale which means that a legal vehicle/method of selling the credits must have already been identified.

Sausage, Like every one else you have no clue how long the process for the tax losses will be.

The specialist we employed from the end of last year should have done a lot, if not all, the legwork around the legal mechanisms available to transfer the credits which leaves Argonaut to be able to market the potential package to it's clients/contacts.

£4.6m-£5.8m is definitely worth waiting for and as ECR are fully funded in to 2025 (and further if we sell the Creswick property ) for all planned activities there is no pressing need to agree a lowball offer.

Absolutely agree with you that Blue Mountain is the short term play for ECR as far as generating income is concerned. Hopefully we will get those BM results, or an early indication, any time now.

Bankrupty, Because none of the previous BOD's engaged the expertise of a tax expert and got the advice that the new BOD has.

I'm also guessing Australian tax law will not be the same as UK tax law....are you familiar with Aussie Tax laws?

So you think the conversation went:

Mike /Doc " Our expert says we've got a$75m in tax credits that can be transferrable because of ......"

Argonaut "Nah mate, the statute of limitations has run out and they are not transferrable"

Mike/Doc "Oh that's a shame can you just see if you could have sold our tax credits anyway, just to see if we could have if they were transferrable"

Argonaut "Yeah sure, we're a multi million/billion dollar company so we'll waste our time take on a sale that cannot be completed"

Can you see the flaw in that scenario?

Watch out for the very large late reported trades that will pop up after the bell.....could be some chunky ones today

£600k = traded today already ....the sellers should have been taken out of the picture now (the person selling millions at sub 0.24 last week must be gutted).

Should be able to run free with news now.

Still massively undervalued at c£6m mcap when you look at the mcap of other comparable stocks.

Yesterday appointment of a broker to initiate the tax credit sale could bag the company up to £4.7m-£5.8m

Multi- million antimony discovery a t Baillieston and searching for a JV partner to take the project forward

Promising visual gold in initial trenching/testing at Blue Mountain with gold improving as they move along the creek and results due soon with short term production potential (previous estimate was 80-100,000 oz resource).

Team in east Lolworth looking at the Niobium deposits (already interest from out neighbours to the east).

And Lolworth gold sampling results were excellent from last season (one was over 1kg/ton) and this will be followed up with a view to identifying drill targets this year.

And you've also got Creswick and Tambo to add in to the mix.

And all for £6m ....massively undervalued (Oh, and all activities are already fully funded for this year).

Only the start of the SP march north