Member Info for TalkingSense

ECR from 35 minutes

https://youtu.be/fYWFpxVyftA?si=9cLRmStUN9NGHIUx

Https://www.youtube.com/watch?v=_b52VOW1S9A

Almost as if the SP was being held back to fill large orders????

lol

That's more like it !!!....A nice bit of width to the grades (which was what a few on here were asking for/wanting last week).

Should get the re-testing (and hopefully grade increase) in a few weeks along with the remaining 2 holes results.

An d some detail around the company's exploration programme both in Victoria and Queensland.

I have a feeling this is going to be a massive year at Lolworth.

Two high grade results of 8.87g/t Au and 8.06g/t Au over 1 metre.

Far more significant is the extensive broad mineralisation demonstrated in several holes where contiguous gold is present at 3.05g/t Au over 3 metres, 2.25g/t Au over 4 metres and 1g/t Au over 5 metres.

And always one liners with no substance from you SV

Now $2320.....Junior mining sector will definitely be gaining more interest as POG rises.

No all we need is some decent drilling results from Kuboid Hill to put us at the front of the investor queue (next week ??????)

That's the point Scarlet.....we are explorers and there is a lot of activity planned this year to prove up some gold .....If we already had the gold we would be 3p+.

The time to invest is before the gold is found and deals are done....or to put it simply.....now!

20m + traded today .....not surprised sub 0.3.

If only I had more spare funds :-(

Morning,AR,

The mission statement on the website is the same as the previous version.

On the JV front , there is no need to progress to a JORC resource to facilitate a JV.

If ECR get an offer it will be well before we have progressed to that stage (and I'm not sure ECR would be able to self fund to JORC themselves).

I see a cheeky little 10m buy showing up after hours....been worked through the day

Mental..... AJ's consultancy fees were on top of a £30k base salary which is way under market rate. His total pay of £80k is more like it and not unreasonable.

Other than that there were £1k of consultancy fees which was a huge improvement on the previous year's consultancy p*** take.

As for the £200k total salary , this has been largely removed as a cash drain for 2024 (apart from AJ who will be taking a salary now he is no longer on the board) due to the salary sacrifice.

Thanks Pauly, I'm sure Sausage will value your validation.

Sausage, We weren't privy to what was fond in the data room...I doubt if it was "f.a." they found as you put it, but it was obviously not enough for them to proceed ay that stage. The fact that there was interest is a positive , and the fact that there has been a comprehensive surface sampling programme and that ECR have commenced drilling programmes will only add to the data set that is held.

Obviously any prospective partner will be looking at the geological structures as much/if not more than the actual grades produced, and we don't know at what point the data would be sufficient to trigger an offer.

There is speculation of a imminent JV from some posters and it is just that, speculation. No-one knows what the timeline would be if an offer was forthcoming , could be a week or a year away.

Absolutely ECR are not a producer and have no immediate plans to become one (I never said they did "Read what is written not what you think is written." ;-) . As in the interview that would be a future consideration.

Also you said ECR have 'no gold' ....This is again untrue as the last drilling campaign produced up to 40g/t and Lolworth initial sampling has had exceptional gold grades (we will see if those can be backed up with the trenching and drilling over the coming months)

The activity that is planned, funds in place for the remainder of 2024, good grades in the first set of drilling and exceptional initial results (which I also believe have not been fully appreciated by the market) from Lolworth are what have driven the increase in SP over the last 3 months.

The MCAP of ECR is still really low at c £6m so progress/ good results in the upcoming activity can see a substantial re-rate.

As you said " He's going to take ECR to what ever price he sees fit, then he's going to decide to jump ship using the excuse someone else can take it further." ....Which will be significantly north of where the SP is now (I think he mention £25m-£50m in the interview) so if/when he does jump ship we will be in a massively better position than we are today on the SP.

And in his last interview Mike confirmed that a major miner had gone in to the ECR data room as CB had claimed.....so the assertion Sausagd made that there would be no interest from potential JV partners until alot further down the line does not ring true.

He also stated that ECR would consider small scale production themselves if the geology and financial were favourable.

POG is obviously relevant as it increases the value of hold ginds and the value of any JV deal.

Also general interest in investing in gold explorers will increase as the POG goes up, helping the sector SPs increase.

Kuboid Hill results will drive the SP in thr short term.

Yes, the POG is a factor in sentiment, but it is in no way the main driver of the ECR SP at this time

Casapinos,

Apart from your debt figures being totally incorrect, you also have not mentioned that, although cruising numbers will increase, this will be outpaced by the increase in cruise capacity as new ships are introduced.

Supply & Demand will tip in the cruisers favour with fares (and margin) being lower over the next few years.

Awenpawen123,

Of course the quickest way for a major to get the tax losses is to wait for a few decent exploration results from both Creswick and Lolworth and look at the data so they are confident in the resource.

Then make a 1p per share (£16m) offer for the company (which would no doubt be accepted at this time)......You get the tax losses transferred and all the licenses effectively for free!!!!!

If only ;-)

The basic problem is that the debt will need to be serviced and isn't significantly diminishing

Worldwide cruising capacity and new players (i.e. Virgin) is increasing with more and more new ships which could lead to an oversupply and therefore more competitive pricing, cutting the margins.

Both of these work against Carnival.

It will also be interesting to see the impact that the larger ships have on the customer experience and future repeat sailors.

On P&O if you exclude Britannia (just a terrible design , no central staircase was a huge fail) you have Iona and Arvia which are huge and (especially in Arvia's case) seem understaffed in many areas which diminishes the customer experience.

This and the increasing prevalence of additional 'tourist taxes' and Spanish 'cruise ship alcohol taxes' and some restrictions in ports on cruise passenger numbers mean that the experience is not improving and the likelihood of repeat cruisers is at risk

AR,

The tax losses are attached to Mercator (MGA) which is 'old' ECR (originally from the 2000's).

All of the licenses in Victoria are currently under the MGA holding.

For the tax losses the high level rule was that there had to be 'continuity' of ownership.

So We could for example (as far as my understanding goes) transfer out all licenses except for one in to LUX or ECR and then sell/JV the remaining licence as MGA along with the tax credit to another company and the tax loss then has continuity.

The above is very simplistic and obviously there will be more legal complications that this, but that's the basic principle.

I'm sure Doc/Nick will be looking for any loopholes that may enable the Tax Credits to be sold off as a standalone.

A nice 5m buy reported after the bell today.

A lot of big buys and very good volume through the week...although a little quieter today.

Will be interesting to see how the SP reacts after the Kuboid Hill results

A decent volume day again with 50m+ traded.

IG...Someone is hoovering up ECR....a lot of buys of 1m+ shares in the last day or two.

Think we are on for another little run over the next day or two.

The MCAP is way too low for the potential here IMHO and with activity and potential on so many fronts it can't be held down much longer.