I've been a shareholder since 2020. I was attracted to the company because the CEO & largest shareholder Dr Mick Ruane is a brilliant fellow who puts his money where his mouth is. You will notice he keeps buying shares on-market on a very regular basis. And when the company rattles the tin, he always takes up his full entitlement - he has never diluted his position. The same with other ERL staff, they too own a chunk of shares.
Yes, they are working on a bunch of interesting projects. It's going slow because they have a strong sense of thrift and don't drill when the demand/pricing for drillers is too high.
The company is entitled to a royalty from HTZ for one of its projects, Penny's Find. The feeling I got at the AGM is that HTZ will start mining Penny's pretty soon. Hopefully the monies ERL collects might help fund more drilling.
Ruane is a highly experienced & very honest fellow. I go to bed knowing this stock, unlike so many other explorers, will never go to zero. If you look back at his history, Ruane has a habit of pulling rabbits out of hats. He's done just that with his other baby RWD, where he bought a bankrupt $400m project for $20m. He's also working on a new patented process which could turn RWD from a microcap to a billion dollar company.
I'm hoping Ruane might just do something great for ERL.
In the meantime we must wait.
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Last
0.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $4.451M |
Open | High | Low | Value | Volume |
0.3¢ | 0.3¢ | 0.3¢ | $75 | 25K |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 3375015 | 0.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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0.4¢ | 10931198 | 10 |
View Market Depth
No. | Vol. | Price($) |
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1 | 3375015 | 0.003 |
8 | 6920921 | 0.002 |
13 | 22899902 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
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0.004 | 10931198 | 10 |
0.005 | 1570000 | 3 |
0.017 | 58823 | 2 |
0.000 | 0 | 0 |
0.000 | 0 | 0 |
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