In my latest X Spaces, I caught up with ECR Minerals COO Mike Whitlow who explained that with a re-vitalised Management Team, the strategy going forwards to advance their gold projects in Australia.
What is Investor Meets Director ?
It’s basically what it says, Myself as an investor chatting to Management of companies I am, or are interested in, investing in. The aim is to get ‘airtime’ with the people who run the company and probe them on the investment case with a balanced view.
If you have contact with a company and would like me to run an X Spaces session with them then let me know.
ECR Minerals
Some brief highlights are as follows, but it is well worth listening to the full interview if you are interested in junior mining companies that have promising assets and Management that can execute.
Highlights:
History
Mike explained the company history and provided valid reasons as to why the share price hasn’t performed over the last few years and how that with a fresh focus and Management Team, the company are now homing in on the value drivers with a fresh look at the projects.
Projects
We discussed two gold projects, Bailieston in Victoria and Lolworth in Queensland.
With regard to Bailieston, ECR are now watching developments in the region given their neighbour Souther Cross’s recent drilling success that yielded Bonanza grades at Sunday Creek. You can read some coverage here
Lolworth has been delivering strong results too, the Flaggy Creek project is generating some excitement given the discovery of Gold Bearing Quartz Veins. The market seems to have completely over-looked the latest RNS, you can read it here
Inbound Interest
Mike mentioned that given recent developments, the company had received some significant inbound interest on the projects, to the level that warranted further discussion. One can perhaps assume this could be a potential JV in the offing or even an asset sale. Investors will have to follow the news closely to see how things develop.
Enterprise Value
Whilst Mike couldn’t directly comment on the share price, it’s no secret that ECR Minerals now looks exceptionally good value at £3m Market Cap given Mike explained the historic investment in the projects, the equipment inventory ECR own such as a brand new diamond drill rig, the land valuations of their tenements, cash in the bank, a market listing, developments in and around their project areas and gold itself looking good!
On the subject of cash, Mike was clear, there will be no need to get the begging bowl out any time soon as the company are well funded for expected work programmes especially given their own inventory.
Have a listen see what you think. I hold a position in ECR!
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Disclaimer
Research materials prepared based upon my own analysis and research. Accuracy cannot be guaranteed and research notes should not be taken as investment advice. Please always do your own research.
