Ecr Minerals Share Discussion Threads

[barony] 30/8/2018 09:53

Do we expect any news this year? Assay results maybe?

[piperpeter] 29/8/2018 15:08

I'd like to see a spin-off ASX listing of MGA at some point, I'm sure the Aussie punters would recognise a good opportunity when they see it. I'm also sure I heard something along these lines mentioned in a previous interview given by Craig Brown.

It would also possibly bring the previous tax losses into play.

Pp.

[kcowe] 29/8/2018 14:43

Need news to move this Piperpeter , a decent rns with some meat on the bones not like the last couple of rns .
Poor volume = no interest .

[piperpeter] 29/8/2018 14:13

The Company will have spent a small amount of cash since the Results 31 March 2018.

However, if we add the cash held at that date to the new money raised in July we get a cash sum of £1,351,499.

At 0.825 pence per share currently, with a current market cap of £2,821,189, the cash element accounts for about 48% of the entire market cap, suggesting the non-cash portion is approximately only £1.47 million.

Debt free Company with plenty of cash to run through to Q3 2019.

Pp.

[piperpeter] 29/8/2018 11:39

Cash & Cash Equivalents at 31 March 2018 - £701,499.

Net Assets at 31 March 2018 - £3,413,792.

11 July 2018 - Raised £650,000.

So current assets must now be in the region of £4,000,000.

42% higher than the current market cap?

Pp.

[davenpd] 20/8/2018 13:51

next RNS will be further share dilution to pay salaries again....this dead horse has been flogged so many times

[1969man] 17/8/2018 11:00

Thank you katylied for taking the time with this, that's quite a rollercoaster ride, good luck with any investments you have.

[kcowe] 16/8/2018 14:18

what news is expected Millecusto.... as the last couple of rns were non events

[milliecusto] 16/8/2018 12:37

Just awaiting game, expect further news September, great entry price currently

[barony] 16/8/2018 08:11

Thanks very much Katylied. Very comprehensive. Keep my fingers crossed that the tax loss could be applied to any profits in Oz - first get profits! The possible tax loss is a major bonus I did not know of.

[katylied] 15/8/2018 20:39

9774 – Once upon a time, on a continent far, far away… (the very concise version)

...There was a company ~2004 called ‘Mercator Gold Australia Pty’ with Australian exploration assets. This company does in fact still exist (100% owned by ECR Minerals Plc) and is currently the active vehicle for all ECR’s Australian gold activities. Way back in October 2004 ‘Mercator Gold Plc’ listed on AIM. This established a public Holding-Company for all 'group' assets (now named ECR Minerals Plc). Over time, additional (international) assets were added to the portfolio.

After a successful exploration program, ‘Mercator Gold Australia Pty’ established a gold mine at Meekatharra. The first gold was produced in October 2007. Things must have looked rosy for shareholders in those days. I haven’t checked the ‘shares in issue’/market-cap, or the general financial state of the company at that time (clearly there was debt in establishing the mine), but presumably the market view was that the company was doing quite well and going places.

Then a problem arose (which became a disaster). There was a public highway too close to the Meekatharra mine. Production was halted until the problem was resolved. Meanwhile ‘Mercator Gold Plc’ AIM shares were temporarily suspended in October 2008 and subsidiary ‘Mercator Gold Australia Pty’ entered administration. Anyway, suffice it to say the Meekatharra mine never did resume and ‘Mercator Gold Australia Pty’ didn’t finally come out of administration until December 2014. By which time it had been stripped of any market value (to settle Meekatharra debts). The one ‘asset’ it did retain was a recoverable Tax-Loss = ~A$66million.

Meanwhile the AIM Holding-Company carried on. in September 2009 the company name was changed to ‘Electrum Resources Plc’. It was changed again in December 2010 to ‘ECR Minerals Plc’ (owing to some USA trademark issue). By this time, all the remaining company assets were pretty much anywhere, other than Australia.

Over the years, the AIM company has been refinanced more than once, including most recently a corporate reoganisation (of equity). So, given the changed (and changing) circumstances that investors have experienced, it is pretty meaningless to compare share-prices over that long period of time. The current rebirth of ECR under Craig Brown, is also not the first ‘new dawn’ for the company. Hopefully though, this time it will be different… Rodney… :o)

To pre-empt a question about ‘Mercator Gold Australia Pty’ Tax-Losses. Nothing new has been said by the company about this, in quite some time. Along the way there has been much speculation by punters, as to how they might be recovered. For example, could the wider Group access them? Does a qualifying business have to be a ‘gold mine’? Does it have to be in Australia?

The legislation about this has also changed over the years (mostly, become less restrictive). However the company has never really presented the options. The simple case would be if ‘Mercator Gold Australia Pty’ were to become an Australian gold producer again. Which is of course possible, given ECR’s current Australian focus. A caveat however, is whether equity ownership would still qualify, as being consistent with when the losses were incurred. I don’t know the answer and I don’t suppose ECR will address this unless a viable situation arises.


Good Luck, DYOR...

[kcowe] 15/8/2018 18:51

someone eager to get in before close.... 2.2million buy

[1969man] 15/8/2018 15:47

Good afternoon, I am new to this stock, so please excuse my ignorance when I ask why a stock that was worth £43a share ten years ago is now worth only a penny. Thanks in advance to anyone who can answer this.

[barony] 15/8/2018 08:48

More solid progress. I’ll buy a few more.

[kcowe] 14/8/2018 19:50

Another 4 percent in safe hands taken from the market ....

[katylied] 10/8/2018 19:25

9767 - Currently, 340,462,383 shares in issue. MktCap at 1p = £3.4 million...

[milliecusto] 10/8/2018 13:51

From Twitter news on the way, £2.5m mkt cap, potential multibagger

[kcowe] 08/8/2018 17:30

They have had that tax credit for years ..... near term gold production from where?

[margic] 08/8/2018 12:24

This will seriously re-rate on news of any near term gold production or a deal to start utilising the tax credit

[margic] 08/8/2018 12:06

Do ecr still issue 2:30pm-4:30pm rns these days?

[margic] 08/8/2018 12:04

Imo this will finish close to today's open price. Rns in the next 2.5 days imo. Chart primed for it now.

[vivgav] 08/8/2018 11:57

Looks like a few games for stock going on?