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RX & Luca loading up probably ;-)

Mental....Will be interesting to see the mid-long term strategy with regard to Victoria.

I've already said many times that I believe the Baillieston licenses will be sold on.

If Hurricane & lolworth are both successfully proven then it would make little sense for ECR to progress Creswick by themselves.

There is now a raft of data on Creswick showing that the gold structures are there and we know the nuggety nature will mean that their is likely to be extensive drilling to prove up such a large area.

So a sale or minority stake JV with the other party carrying the exploration costs would be wise options.

Hurricane with more consistency in the gold veins structure and Lolworth with it's REE potential are the best areas for ECR to continue to develop by themselves.

No, not a huge gamble.

A decision based on the information available at the time with a long term plan in mind.

The 'risk' was minimised by getting the rig at a discount and the correct decision to change strategy has been made.

Anders, If we had hit gold in the initial creswick drilling then I believe the SP would have gone to 1p plus and we would have had a raise enabling the 2nd drill to be operational at Creswick while also doing the work we are now doing at Hurricane and Creswick

Not finding gold in the initial drilling means that the financial position has changed and immediately continuing drilling at Creswick would be irresponsible.

Unfortunately the current financial situation and the 'luck' of finding nuggety gold can change plans and as a manager I know you have to be flexible and willing to change your plans as developments unfurl.

A year ago every shareholder was screaming for a second rig and now many of the same are hammering AH for that decision.

thanks to the discount we got I believe that we will be able to make our money back on the rig.

Anders, the 2nd rig was bought with a view of developing Creswick, however that would be costly and with the initial drilling not hitting gold there is not the funds available to do that so it would be a potentially long and expensive process.

We did get the rig at a significant discount and therefore , now we've fitted is to Oz standards there is a good chance to get the original outlay back

Mental,

You make a good point.

Operationally, on the ground I believe that we have been making the right moves over the last year .

Searching for the possible extension to Blue Moon (which shareholders had been asking for since 2019)

The more thorough and systematic sampling at Creswick to identify targets (as discussed previously the nuggety nature means you have to be lucky to hit the nugget, and one or two would have dramatically changed the results)

The stream sampling, additional testing for REEs, discovery of the REE ridges and current grid sampling of the REE area.

Then Hurricane getting the access and drill site ready asap.

Just need to hit some grades at Hurricane or get some further positive rare minerals news at Lolworth.

From a practical point of view we cannot fault AH's plan.

until we get results the discussions from the past, the board structure and the financials will be the focus on this BB (some on here ignore the practicalities of gold /REE exploration) ...until the next set of results are in .

However , if we kept the second drill we would have to find a couple of hundred thousand to staff and maintain/run the thing.

So we will likely be half a million better off by selling it.

Tamer, Are you on the mushrooms today?

Never read such I'll informed twaddle as your posts.

Tamer, I expect us to get the drill in the ground...they have identified the first drilling site so this will happen asap once the access clearance has completed..

They will do sampling in other areas to identify future drilling sites/programmes....as you would expect.

Legal.....post of the day !!!!(made me chuckle)

Dan, I think you are correct.

I seem to remember Notrex claiming to have bought 200k shares and halving his average a few weeks ago.

At the end of the day it does not matter how many shares each person owns...everyone's point is valid (if backed up with reason and not just baseless rubbish).

Perhaps a few posters here should meet in person and flop them out on the table to see who's king-ding-a-ling and save a lot of the ego posturing on here.

Luca, "this year they are only soil sampling ".......No, they will be drilling at Hurricane shortly.

Mental,

You've absolutely correct that the results at Hurricane and Lolworth and progress at Lolworth will drive this

I agree with Dan and Luca that a placement will be needed here around Sept/Oct (unless we offload Itagon), however the SP level at that point will be determined by what Hurricane proving up progress has been made and the REE and gold progress we make at Lolworth.

If Hurrican and Lolworth are both busts this will be well down from where we are , however if either is progressing well we will be easily 1p+ imho......with continues progress moving forward it will go much higher.

Luca, Having a big holding does not make your opinion any more valid than anyone else's on this board.

I know a lot of pricks with large holdings in companies (that is not aimed at you btw) and I know many well informed people with smaller holding in companies.

All posters and holders have an equal footing on this board (although I must agree with you that Tamer's frequent unsubstantiated ramps are sometimes annoying)

Lucaduca16 shows is a new account mentioning 0.1 in each of his first posts and trashing the company.

He has many friends with large holdings as well.

Sounds sincere with no agenda

....lol

Last holding TR1 for the Chinese..nothing since

https://www.lse.co.uk/rns/ECR/tr-1-standard-form-for-notification-of-major-holdings-ddxhy5o5f8m5qlx.html

Cashking, And you look at the CEOs..I'd match up Ah to PJ any day of the week.

AJ is a throw money in every direction, in every dodgy jurisdiction in the world , whereas AH seems a lot more professional, considered and measured and actually has a plan.

ECRs value in the medium term will be decided over the next couple of months as the initial Hurricane drilling results come in and we get a better understanding of the REE and gold potential at Lolworth.

P1D...What makes you 'not optimistic' about the ground at Lolworth & Hurricane?

I think it will be attractive as further work is undertaken and the resource is proven up....if it is proven then Lolworth could be an absolute beast.

Any talk of a JV at this point though is just a ramp.

Tamer, The chances of a JV at this stage on either Hurricane or Lolworth are pretty much zero.

No-one is going to even contemplate a JV until a resource is at least part proven and there is an idea on what the remainder of a license may hold.

No company would commit to a JV based on stream and soil samples alone so stop floating that as a possibility at this stage as it's not gonna happen for a while.