Member Info for TalkingSense

And me ....never look a gift horse...... ;-)

To be fair Sausage , You're so negative that if we shoved you in to a barrel with ECR written on it that was full of tits, you'd expect to come out sucking your thumb.

You have to go through stages of process to get to an inferred resource....first stage is to identify the gold course and the presence of gold in that course by trenching so you can guide the drills.

As far your 'leaching' theory is concerned, I believe that there is a processing plant nearby which was muted as potentially being utilised in an old interview, so no need to leach.

But as you have (self- stated!) influence on the BOD who knows, they may change their plans ...lol

Decent interview today. Confirmed that planned activities are funded through 2024 and in to 2025. Activity planned in BM, Lolworth and Tambo. Announcements (plural) over the next couple of weeks and discussions ongoing with other parties ongoing and making progress.

I can't believe that there is all this furore over a £6k fee.

If we had psud cash instead of shares we wouldn't have even been notified.

Companies have dozens of these fees a year and few/not are ever declared in results/RNSs.

Some people see fowl play/conspiracies everywhere and distract from the actual activities of the company.

Activity has started at Blue Mountain you know...oh wait, a £6k bill paid, probably to the tax specialist for their services, is more important. Sack the board!!

This board does my head in sometimes.

BBN ....Well put !

My thoughts exactly

Adam and the team are getting to work

https://x.com/DDS_DocHoliday/status/1804035090424422597?t=cPzH2b5C6s7OrHa2kReqbQ&s=19

Also interview link from yesterday in case you missed it:

https://t.co/xSvWVU4lL4

Morning Daramunda,

I first invested in the PJ days and made a great profit out of the "Itagon spike" before staying away for a couple of years and then re-investing after CB took over..around the 0.6-1 level initially.

And yes I did praise him as he took the SP from 0.6 to in the 4s. When he sadly passed away the SP was double where he took over. I made some good money trading in the 2-2.5 range as it predictably see sawed there about 10 times.

Some commentators criticise CB, however a lot invested in the 3s or 4s with little/no research.

Many criticised him for the "JV talk", however Mike has confirmed that firms did indeed request access to the ECR 'data room' at that time so it has been proved that conversations were had. And CB oversaw the acquisition of the Lolworth licenses which I believe will be the long term company maker.

AH started well , getting the 2nd drill that shareholders were screaming for (but which was actually useless) , but it soon became apparent that he was just using ECR as a vehicle to enable the Hurricane project and his desperation last drilling campaign at Crewick was poor at best.

Mike and Nick took ECR over in a desperate financial state and have steadied the ship.

They have raised £1.2m to steady the ship, and taken (with the rest of the BOD) the vast majority of their salary in shares to align them with shareholders and significantly reduced cash burn , i.e closing the London office).

They have implemented much more rigorous and extensive sampling over Lulworth and Creswick and ran an inexpensive drilling campaign (only c500m of RC) at the latter. I believe the ideal play at Creswick is to get a free ride JV at Creswick due to it's size and the only way for ECR to be able to do this is to build the data set there which they cannot do with no activity.

They have re-evaluated all assets and BM (the one good thing AH achieved) has been identified as a good asset with a small scale production feesability being assessed.

They have spent £6k in shares on a Tax specialist who could realise the company £millions if a path to monetising the tax credits....some have criticised this, but I'm happy as a shareholder for them to spend that (and not in cash) for a potential million+ return.

Initial sampling from Lolworth was excellent and thr REE discovery was a real bonus.

Lolwoth has MASSIVE potential and we have already had discussions with neighbours to the east.

Yes, I'm optimistic on Lolworth and believe that this year will be a huge turning point through Lolworth providing excellent progress.

Mike and Nick have done a great job IMHO since they joined and I have backed this belief by adding over 5m shares since they took over.

Results and deals over the next 12 months will determine if that was a wise decision

Struggling to see your point there.

"to conserve cash". What do the board do to conserve cash? £102,000 per annum each (£12,000 of which in cash) .

They take £90k of their salary (£112k is no a large salary in comparison to similar companies) in shares...that conserves cash.

"I was checking out cash in hand as at 31 March earlier "...and?

So they stated in the interview ...A small scale pilot plant is planned for Blue Mountain !!!!!

(Adam is on site within the next 24 hours to start the next stage of exploration there).

That will be music to all those (including me) who have looked for ECR to start to monetise their assets.

Also one of the best analogies I've heard:

It s like the girl walking along the beech in their bikini. Everyone takes more interest when she drops her top.

And ECR are hoping to drop their top and generate more notice soon......lol

Daramunda : "BBN - I take your point. A shame that was not made clear."

I thought that with the RNS making no mention in any way of any future planned drilling in the Creswick summary , but stating future drilling was planned at Tambo made it clear.

Mind you I don't have a negative agenda here .....lol

Dan, I've seen it alleged that there were leaks from the office that receives RNSs as there are a number of companies that see increased activity the day before.

Obviously I would not concur with that theory (just for any lawyers out there ;-)

Loads of activity to come on a number of licenses, all fully funded.

I'm especially excited to see Lolworth trenching and driling this year....that's going to be a huge value add as well as BM moving towards potential production.

There is interest from other parties as well:

" in recent months we have received approaches from other businesses in the resources sector offering co-development and other collaborative opportunities. while these developments in themselves have served to further confirm the nascent value within our project portfolio"

All bodes well.

Daramunda,

Absolutely agree with your points regarding Blue Mountain.

I think Creswick was worth another go in the Queensland wet season (better than sitting twiddling their thumbs for 5 months) if only to expand the data set with a view to a sell and to test the new sampling/ target identification methodology. It was a shallow RC campaign at both sites and as such did not burn much cash , but did improve the understanding of the geology.

The main focus though has got to be Queensland ...BM in the short term and Lolworth being the potential monster long term company maker.

This summer season is definitely going to be a defining one for Mike & Nick and will determine the success of ECR moving forward.

After only 8 month's in the role M&N have made excellent progress IMHO and Creswick was worth revisiting , but not yet worth throwing the kitchen sink at.

They have made solid decisions and not made any poor ones (I wouldn't class the Creswick drilling as a mistake) . They have been tarred with alot of histiorical baggage ( a lot of "they haven't found anything for years" comments today) , but if you exclude the Haythorpe Hurricane fiasco and previous boards, and treat M&N as a new company from 8 months ago you would say that we have made solid operational progress since they took over and there is a plan in place for this year.

Continue to prove up Lolworth, move BM towards evaluation of production potential, initial drill at Tambo and back to Creswick in the Queensland wet season (I assume) as well as continuing to try to raise funds from the property sale and monetise the tax credits.

Time to look forward and not back.

Sausage,

As I said previously: In the latest interview Doc said we had enough funds to stretch in to 2025..... so no immediate raise to come.

If there is a further raise this year I think we will be looking at November/December......but only if they have not sold the Creswick property (the listing has been removed from the estate agent site so a sale could have been agreed) or we monetise part of the tax losses.

If the property is sold it will likely push the next raise back to mid 2025.

Also the last podcast that Doc did he did state that he would not be able to discuss ECR (I assume that this was the same for today....I didn't listen in today).

The £6k was payment instead of cash (admittedly not clear in the RNS) to preserve cash reserves.

I think we can agree that they have a significant amount of skin in the game and cannot just rely on their £12k cash a year....so not a 'lifestyle company' .

Absolutely right Techguru on the activity front.

Blue Mountain is the really interesting short term activity which is most likely to lead to a potential production/ income stream in the shortest time.

Lolworth IMNO will be the crown jewel of ECR in the mid-long term . The initial gold sampling results there have been outstanding and have not been relected in the share price (mainly because they are just initial results) the REE potential is excellent and the neighbours are interested in having discussions with regards to co-operation (JV?) to the east of the tenement.

Plenty to come ....And as Sausage has pointed out , we have the tax losses that may be monetised as well (we will not hear anything on that front until a deal is agreed) which would be a game changer.

And in the latest interview Doc said we had enough funds to stretch in to 2025 so no immediate raise to come.

"AUS$100,000,000 target"....I must have missed that series (that's about £52.2m)....Was that team Newmont ?

Thanks SV....as informative and value adding as ever

I agree Sausage, If they didn't find gold there by the 1970's then they will never find gold anywhere else.

It's not like technology and gold locating techniques have improved in the last 50 years.

And they must have covered every inch of Australia during that period and at every depth.

I cannot believe that companies have spent billions prospecting in those 50 years when they will obviously come up with nothing new...........Fools the lot of them.

Nothing exciting ....Just the share allocation in lieu of Salary for Mike & Nick that we already knew about.

And £6k of shares to a service provider instead of cash payment ......Nick is still watching the pennies.

Morning Daramunda,

I'm sorry that "didn't do it" for you.

The link was to show the map which shows the Southern Cross licenses (including Sunday Creek) proximity to Bailieston.

I know the tweet was irrelevant as I was only trying to provide the map requested by Ivans and that was the map I found in the little time I had spare yesterday(just trying to help).

evans, i hope the map on the attached tweet shows you what you are looking for.

https://x.com/share_talk/status/1754449566655475832?t=****5vnmmktrfmwli68ouw&s=19