Member Info for Zebbo1284

Yes, they need a Mining Licence. A mining licence would likely need some proof or evidence of a mineable resource to be successful. I would think this is what the current work is doing and we will surely hear an update soon.

I believe the talked about ounces at Blue Mountain is POTENTIAL, not proven. I also think the potential figures are based on a non JORC compliant resource from 30 years ago. The current work should move Potential to Proven....we hope.

Any idea who the PR person is?

Sausage is right, no production till ML approved.

The current work should increase the confidence in the size of the resource and give greater commitment to moving towards a ML and production. Imagine if ECR has high confidence in finding a resource of a few thousand ounces? Also, consider the tax losses...can the Company utilise this when producing? Can see a good 12 mths ahead if the next results move strength to strength.

If the lab results are encouraging, would consider a top up.

I understand ECRs thoughts on JV production at BM. Mining setups and running it would require high costs and staff. ECR is such a small team to manage a full mining operation. Best to take a cut and let the JV have all the risk allowing ECR to develop something bigger or better.

The Board has never said Blue Mountain going into production in 2025. This is planned for 2026. This rumour is hype that this BB seems to be infactuated with.

Paul Johnson, heard of him and is ex ECR (i think drove it to administration?) I believe he heads Power Metals? Looking at their website you get lost easy with flashy information about strategic metals and other BS. Power Metals and its partners (Red Rock) are all driven by nearology to actual successful mines and deposits. These stocks are always waiting for the next boom. Their management is headed accountants, brokers and other Non mining technical people. I hope these people stay away from ECR, they'll destroy any long term progress.

Exploration companies are always doing as much as they can, test and then move to another spot till they get results. This is clearly the case at BM. Remember, they haven't defined the size of the actual resource, only made a target goal.

You simply just can not start digging up the land and running it through a large washplant without proper authority approvals. These approvals should be starting to get in place to move the project towards production.

I wouldn't care if a raise happens end of 2025....as long as there is good evidence of a profitable operation at BM in 2026. The SP will recover quickly and...hopefully no more raises.

Whoever made that guerilla website needs to be fact checked. I can see ammo for a deformation case there...

Where is the promise of BM production by this time? I only know it stated trial mining to start Q2. Still have a couple of weeks to honour that timeline. The term Production means producing to sell a product for profit. No where states this should be or have happened by now.

If you are not comfortable with understanding the time and resources it takes to move to Production, you know nothing about the real world of Mining. Big difference between setting up a consistent producer than digging up gold on the hope week by week a.k.a Aussie Gold Hunters.

I have not kept up with the latest ECR interviews, and I do not follow the TWITTERATTI.

DYOR, this is only the way I see it currently. My commentary is based around the PRELIMINARY 'Timeline' of exploration posted earlier by ECR.

I am not paid to write this, I am also a holder and like others, want to see some return!

1. Blue Mountain

Timeline clearly states the project will be in the LIDAR and trial mining phase by end of Q2. End of Q2 is about 2 weeks away, so they have to commence before then.

We know ECR have only completed one field season on the ground in 2024. Nick T and Parkers visit earlier this year looked more of a site visit/overview for the benefit of expanding Parkers knowledge IMO (remember these guys don't live near here). From the first seasons work, ECR confirmed the gold grades are aligned to the previous tenement owners exploration trenching (around 0.6 g/t). Previous exploration 30 years ago estimated a PROBABLE resource exists at Blue Mountain in the order of 20+k ounces gold (read previous RNS relating to the Blue Mountain acquisition from BlueKebble some 2 years ago). After this work and Nick T site visit earlier this year, ECR has stated they will work TOWARDS making Blue Mountain a small producer of gold (this should help fund future exploration activities in other areas).

I strongly state the word TOWARDS production. To produce saleable gold from Blue Mountain, my understanding you will need a Mining License. To apply for a Mining License, you probably need to satisfy Environmental, Landowner AND have some idea of a resource with a strong case of how much gold IS in the ground. The previous estimate of 20k ounces is PROBABLE, which is the lowest confidence for a resource. I assume the Mining License regulators will want at least more confidence of the size of the resource before permitting to dig up the whole river system. This will require more sampling to expand the resource confidence. This is smart!, plenty of 'cowboy' alluvial mining operations have gone bankrupt because of poor resource definition and mining on the only basis of a 'flash in a gold pan'. I reckon Parker would have a major influence on this decision.

It will be interesting to see what good news will eventuate from this next round of trial sampling and transition towards production.

In reference to 'Aussie Gold Hunters', the groups on that show have a Mining License with Approved work conditions, they aren't just going bush and digging up the land as the T.V makes it to be.

2. Lolworth

This project is a sleeper IMO. Two years ago, initial sampling of the creek system showed the presence of Gold and REE. They have now followed the gold up to some of the sources (Gorge Creek West, Uncle Terry etc). In context, the tenement is nearly 1000km squared, quite a big area to narrow down to the source. On top of this is the conditions of Outback Australia. This year will be the REAL evaluation with the first lot of drilling to commence in the comi

Sausage, this will be there 2nd round of work i believe. To move into production would require another round of proving up a resource, you know to de-risk and not go backrupt. Good business sense i would have thought. Cowboys will fail.

The 1st round last year was for due dilligence and confirm the previous results the previous owner of the ground got. The BOD have confirmed that the 1st testing aligned to expected results. This 2nd round of sampling i believe should confirm the size of the resource. Im sure the mining lease/government would not approve digging up a whole creek system based on a few samples from the 1st round.

I suspect the NT visit in Jan was more of a look and first evaluation, along with Parker. Not a working/sampling visit.

What would be your words if they prove the expected grades into a resource after this 2nd round?

I haven't been keeping up to date lately....with interviews and what not.

What is causing the anger over the current BOD?

I though the Board announced that work will be starting at Blue Mountain end of Q2, they have 15 days to keep that promise. Sure they will release an update to us this week.

What makes you think the recent drilling means an eminent fundraise? The Company still has plans to execute the next two biggest exploration milestones.. prove up BM and drill outcrop at Lolworth. All these should still be funded. The Company raised money for these and accordingly to the announcements, only Bailieston drilling has used some of the funds.

Why the talk about another raise in Q4? Exploration is only starting up and if they have kept admin costs low there should be plenty of cash for a while yet. They also received extra cash for the Brewing Lane property.

Bailieston IMO is one of the better tenements. Looking back, there were a number of consistent drill hits in 2021-2022. I think the further drilling at Blue Moon killed the momentum. Blue Moon is not related to their current drilling. GLA

What is the overall opinion on Creswick project? Should ECR do more work here?

I thought the host was pushing for Nick to state BM to be in production shortly after Maximus deal. Should be pointed out that Nick stated more advanced testing is still to be done at BM before official production. LIDAR, GPR sampling and trial mining. Nevertheless all positive steps towards high confidence in a resource.

Doc could also own 500k shares because he sees value in the project and wants ECR to take over it. Directors of junior companies are always looking at other junior company projects and bringing them to the table.

I note people want things done yesterday at times and complain. Remember that setting up mining and exploration programmes is not a go in and just start mining or drilling. There is some time allocations for the usual beauocracy involved (permits, compensation agreements etc..) i am sure the BOD are working on having these in place right now. I conclude the reason this wasn't happening 15 mths ago is likely because ECR didn't know what potential BM has. Also, economics have changed driven by gold price.

Sounds like Octo are holding the strings a bit on the deal...tyre kicking. Think that if other parties are now coming into the play for the tax losses, ECR may have the upper hand for the best deal.