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So after another RNS pumping out more results about rocks in a bucket, ECR was traded back down to +1.82% for the day.
This trader did well - not.
10-Jun-24 12:03:15 0.2988 238,955 Buy* 0.28 0.31 £714.00
10-Jun-24 15:02:04 0.283 238,955 Sell* 0.28 0.30 £676.24
Either those that tweet and retweet each other on X re ECR are gonna have to ramp up their coverage or Nick and the gold mechanics are gonna have to deliver more than yet another set of results.
This is in a downward trend and doesn't seem to be able to break through and hold above the resistance level.
A simple chart will tell you all you need to know until ECR release some substantive news.
Well someone is encouraged......5m buy from 9:11am this morning just reported.
Another chunky buy (that's 20m in 3m+ buys since Thursday morning)
Talking Sense,
Although you are not replying to me today. I could ask you for an example of why you think the results are descent.
I have my views, you have yours, why does that make me a dick? This board is about all of us expressing our views/ opinions. If you don't agree with someone's views just say so.
Very Nice Indeed …..
Dan, Agree , Would be the best result if Brewing Lane has been sold....most likely outcome as the listing has been removed.
Proceeds from the sale would fund us well in to mid 2025 on all activities which would remove any raise anxiety for the end of this year.
TI, I cannot see them keeping it as that would be a major shift from the strategy there that the company has laid out.
...........Dan,"He knows this TS but the sp is unfortunately moving away from his target buy price."...........Sausageonaprick (sorry autocorrect) has missed out on a 25% SP rise in previous months..........keep up your mantra rxdiv buy high sell low🤣
Agree Talking Sense. the results are pretty poor in comparison to ECR peers in the surrounding environment.
I look forward to news that isn't simply test results.
Agree Saiusage. the results are decent (it's hard to get great results on rock sampling).
Good first step (you can't get jam today on sampling) and warrant the team progressing with the exploration in that area moving forward.
In the meantime the main focus of the company is on Queensland.
* The trenching in Blue Mountain seems to be the quickest rout to proving up a resource and looking at potential extraction....looking forward to some updates there in the coming weeks.
* The company are looking at Lithium , Niobium and REE resource in the previously unexplored east end of Lolworth and we know that 'conversations' have been had with the holders of the licences with similar geological structures directly to the east of our tenement.
So newsflow to come on a couple of fronts
You are funny Dan.
Unless ECR can back up another bucket of rock chip results with something that moves the company forward, the sp will be in this downward trend for even longer.
The 10%er will be gone by the end of the day I'd say.
Morning Talking Sense.
I did say as the opening line to my previous post "Whilst the photon analysis appears quicker than traditional lab testing" So I acknowledge this.
I don't see them as great results, I think ECR spin them as great results in the phraseology of the RNSs, but that's their prerogative to do so. Compared to other results from other companies in the area, the results aren't great in my opinion based on the facts presented.
I do think it's great news for the day traders and 10%ers.
........... if the decision is for ECR, to go into production that is what Brewing Lane was originally purchased for😏
He knows this TS but the sp is unfortunately moving away from his target buy price. I've followed this guy for long enough on Twitter.
Morning Sausage, They have to start with sampling, and they've come up with a quicker method to come up with results (you've previously complained about the long lab times) which they are going to prove the accuracy of by also fire assaying the same samples.
They can only get grade results from the sampling so don't see what your issue is with some decent results and what extra you would want from the samples?
Whilst the photon analysis appears quicker than traditional lab testing, it's simply got us to the same place quicker. Another set of jam tomorrow rock chips in a bucket test results.
Another good day for the traders it would seem.
My guess would be either it's sold or the planning permission has been granted and they re going to re-list and up the price.
Mike said in last week's interviews that we are fully funded for all activities in to next year.....A sale would stretch that out to mid-2025 and require no further raise at the tail end of this year.
No plans to head back there this year Tamer and I'm sure most would agree that they would rather have the cash. Never say never though!
……or going to be used for its original purpose
"HIGHLIGHTS
● A selection of 37 rock chips from the Duke of Cornwall Lode have been analysed for gold using photon analysis.
● Best results include 51.5 g/t Au, 26.5 g/t Au and 24 g/t Au.
● A further 5 rock chips contain gold grades greater than 5 g/t Au.
● Total of 56 rock chips and 84 soil samples were taken across the broader strike of mineralisation with results from these additional samples due shortly.
● The Eastern Victorian exploration tenements offer a new area for gold and base metal exploration."
Well spotted, I've been checking on this weekly so does suggest it's been sold.
I see this off the market now.
That will probs have cleared out one MM of stock.......! :()
Gap up Monday.........? :)
All the best (Breaks the 30's and then on to the 40's.....! :()
8.5m buy reported late from Thursday lunchtime.
So over 15m in buys from the 3 big trades that day.😁
Hi Talking Sense,
I did say "Traded at every opportunity." No opportunity this week.
Have a good weekend all.
The newsflow TalkingSense depends on whether it is just more talk (which does not often provide value) or whether it reflects a deal, confirmation of a proven resource, or production which (dependent on quality) could add to the company's and shareholders' value.
Id - bid