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Is it conceivable that Red Setter is both analogous to both Telfer and Havieron with the concentrations and grades. If the Red Setter prospect has both the high grades of Havieron in the 'dome' targets, and the lower grade Telfer type deposits across the wider strike area, then this could become and be considered an 'elephant' type discovery. If that ends up being the case - you would think Greatland would want to secure the asset early (in case another major starts to set up camp on their doorstep), as otherwise they might find themselves in the sights as a takeover target.

"Drilling at Red Setter gold dome project near Telfer gold mine"

"The WishboneGoldPlc team working in the middle of nowhere - 2,000km from Perth but only a 15km from Telfer"

"The road to the drlll site. Looks isolated but it's actually close to Telfer"

"Bright sunny day at Red Setter drill site near Telfer gold mine today"

I'm really happy to see these photos from Wishbone being posted. The ALS lab facilities in Perth are after all, a long way away and that would take considerably longer to continually take core samples for assay/lab testing etc and a lot more expensive - for what might be becoming routine sampling. But when you need to ratchet things up by processing lots of samples through drying, crushing, and pulverising etc, it would be amazing if there was such labratories really close to the Red Setter drill site. Oh my gosh - wait a minute - there is - at Telfer.

This still might be a stretch too far - but I enjoy this sort of sthing and trying to understand the meaning of things. It might be that what's actually happening but what can't be anouonced just yet, is a very professional, mutually beneficial, constructive "unofficial" working arrangement in place between Wishbone and Greatland. Where cores/samples are being transported to the labs at Telfer as soon as they're coming out of the ground.

At the end of the day, this is about monetisation of a hugely valuable resource - and where concentrations of this resource are high. Everybody in the Telfer patch will be working together - "sometimes off the books" - to the extent they can. It's an isolated place after all - but it's a small world too!

Winu - 130 km north of Telfer (Rio Tinto and Sumitomo Metal Mining JV in place)

Havieron - 45km east of Telfer.

Red Setter - 13 km south-west of Telfer - now that's walking distance!

Worth posting in the current climate/context of Wishbone / Red Setter and Gold prices .....

https://antipaminerals.com.au/investors/in-the-media/article/77-the-australian-telfer-for-sale-asx-juniors-could-play-a-role-in-the-consolidation-of-a-legendary-wa-gold-field

"With the sale of Telfer and Havieron, if you think about it, there's the potential for a once-in-a-generation, provincial-scale opportunity by a new owner to come in and acquire Telfer and its 22Mtpa processing facility and look out towards other deposits such as Winu, Havieron and others."

That opens the door, potentially, for a single company to enact a district scale consolidation play in the vein of Genesis Minerals (ASX: GMD) approach in Leonora and Northern Star Resources (ASX:NST) cornering of Kalgoorlie.

"The potential is huge. Between Rio, Newmont, Antipa and Greatland there's roughly 20Moz of gold and 3.7Mt of copper in a ready to develop state and very well primed for consolidation," Mason said.

"And the province is pretty immature from an exploration perspective too. Most of the surveying and initial groundwork across the region was done decades ago.

"So the overarching M&A noise is there and our strategy is to add as much value to our projects in as short a time as possible."

Casper - your graphics are epic. Please keep them coming as they're certainly getting picked up by the key players and they're really brilliant!

The debt holders are supportive of Echo's strategy whether you like it or not.

It's often mentioned in posts about the 'kicking the can down the road', and Echo need to repay the bond in 2025. With a vastly improved commercial/financial position, and if Echo does add a 'green' string to their bow, there's no reason why Echo couldn't pay a bit of the bond off, restucture the rest on improved terms (potentially with a different lender) and a longer time horizon to repay. Many O&G firms carry debt afterall. The key is being demonstrate to the market that it can be repaid without putting the balance sheet under pressure. Of course, that's all dependent on Echo seeing improved success with the wells; workovers and CL/MA of course and getting a good price for oil/gas produced.

Well of course that's a private matter ranger104uk, but as things stand, we're not having any sleepless nights. But I would say, that not all contributors to this board are sitting on a loss, or even a paper one at that, and that is true for us also. Anyhow, I'll check back in when we have the next RNS. Nothing more to add at the current time.

I can see why you would say that Ranger104uk but we voted against the equivalent AGM resolution because we didnt like the non qualified use of newly issued shares. The current position and what's been put forward is acceptable to our family and it has certainly not impacted our personal strategy with Echo. The price may fall from where it is (it could just as easily jump into the high 1p/2p range as a result of the added certainty passing these resolutions provides), but we believe there to be significant upside potential with Echo and frankly I don't think the company has ever been in a stronger financial position than where it is currently. That's why we're still accumulating during the dips.

I can substantiate everything nyforver has set out in his post earlier this afternoon. I had a very good conversation with Martin last week and we covered all these points in our meeting. I will be voting in favour of the resolutions as imho, not doing so will undoubtedly constrain Echo's ability to execute on strategic objectives if/when opportunities present themselves. I don't think it's great for shareholders to have a Board that's essentially operating with one hand tied behind their backs and new share issuance is an important tool to have in Echo's armoury, but it can't be one that's used too freely and easily, and this has been one of my main criticisms of Echo historically. I've shared with Echo my concerns with dilution too, but I do like the idea of a minimum dilution price though. I also 'hope' to see a set of interims which show a net operating profit and solid H1 performance with hopefully revenues more than enough to meet opex and running costs.

Great to see the updated presentation and for the minor corrections to be fixed so promptly and re-published by Echo. No biggie imho, these things happen.

Echo have a great opportunity here and we (as in my family office) are certainly going to wait to see what the Interims show as surely with the improved Gas/Oil economics, Echo shouldn't be far off being able to report a gross operating profit after cost of sales.

After the years of mismanagement by the previous crew, Echo appear to be in a strong position both operationally and commercially. I was (and still am) very pleased that Martin has taken the CEO reigns of Echo as we need a CEO that is financially disciplined and ensures financial discipline and prudence runs through all strands of the company. There has after all, been far too much wasted money in previous years. Martin is proving himself in this regard and I greatly respect that.

But we need to see Echo embark on a really thought through and sustainable PR drive. They have a great story to sell, but they’re not doing it at the moment and we can all speculate as to the reasons why and what the real constraints are. But by any measure, the market cap for Echo is simply ridiculously low, but that has been driven by low trading volumes, so it’s no surprise.

We’ve seen before and recently, what happens when momentum shifts, and I hope we’re on the cusp of something very different here and when even the hint of a monk’s fart of buying pressure returns, we’ll start to see things move and quickly. That’s why we (as in our family office) are still holders, maybe a touch less strong as we once were, but still firm believers and we are actually still accumulating as we believe Echo will have their day and the current share price presents (in our view) an opportunity.

But Echo need to prepare and work hard to realise their day. It must be underpinned by steady & strong organic growth, no hype, but sell their vision to the market and get the market to sit up and take notice, get some analyst coverage, when they've had those meetings, get some more analyst coverage and fire Vigo Communications if they’re not up for the job for the advisory services they provide.

It’s a shame the Lombard Odier short happened when it did as they killed off the momentum with this stock when things were getting interesting again. It will come again though (I believe anyway). The financial noose has been removed, some would say kicked down the road for 4 years, but 4 years is a lot of time, and if Martin is true to his belief and strategy, then the debt should be much easier to service and repay in 4 years time.

My advice to Martin and the Board, would be to listen to what their existing investors want to see, how past failings have hurt through debt burden/unnecessary dilution, what to do to get and keep existing and loyal shareholders on board, anticipate what their future investors expect, and if necessary replace existing PR advisory with a market leading PR firm and one that has already earned their stripes and central London location!

I think that counts as Echo have finally discovered how to reset their password for their Twitter account. Excellent news, let's see some more of it please.

I'm forever hopeful that Echo starts to engage proactively with shareholders, but sadly there may come a point where my/our patience runs out with this. I'm in waiting and listening mode though.

I don't count RNSs as PR, they are after all obligatory. I don't count Q&A sessions with investors as PR, as all Echo has done is regurgitate what they've reported through RNS. I certainly don't treat old presentations which could be relatively quickly updated as effective PR, especially when they're 18 mths old, and they advised Q4 '20 that a new update was being worked on.

But what I would say, is that Echo are doing a marvelous job in preparing for their Rotten Tomatoes Award submission for ineffective PR.

Thanks, nothing yet abzzba.

It's baffling that Interoil with a relatively small 8.34% of the SCS assets, are looking to take over as operator from Selva Maria Oil and Gas S.A. Why, for such a small percentage? Could they be looking to take a greater share going forward?

Thanks, no I wasn't. I guess lse must have judged it not complying with their rules for some reason. Either that or Echo are monitoring the board (which I hope they are having given them a direct link!), and are trying to control information flow. The ball's firmly in their court so let's hope we see a marked improvement on PR efforts and that long awaited update.

Hi Josh/all,
Nothing yet, but will post an update when I have something to share.

Thanks for all your comments and input folks. Looks like we're around the 100m shares mark. That didnt take long. So we're pretty close to the 10% threshold to call an EGM if needed (so long as 10% applies). I've forwarded my email to MH directly using the email address posted earlier, so will see what transpires from that. And then we can work through next steps & questions we feel need to be addressed.

I'll post what (if anything) I receive back. It truly is a sad state of affairs, frustrating & disappointing at the same time, that what the company has managed to achieve themselves (note not as operator of the assets) over the last 18 months can be summarised and written on the back of a fag packet!