Vancouver Cambridge House updateI just got home from the Cambridge House conference at the Vancouver Hyatt and Fairmont hotels where I spent just about an hour speaking with Dr. Robinson. A lot of information was offered by Dr. Robinson, had I known how long we would be talking I would have taken notes. Some of the highlights that come to mind are:
- Expect a news release sometime next week with more drill results, some of which may be considered "surprising" in a positive sense. I can't recall if he was referring to Eau Claire or El South, maybe both?
- The updated resource estimate at Eau Claire will now be released in Q2 due to the amount of data and work involved in the calculation. Drilling will continue in the meantime.
- Narrow vein widths are NOT an issue or impediment to the Eau Claire deposit being developed. When Brent Cook raised the question on BNN he had never set foot on ER's property or in the corporate offices for that matter. Dr. Robinson maintained this project will be mined, the only question is by who?
- A drill budget of $7.5M is being proposed to the board by Dr. Robinson for next year. Projects included will be El South, Eau Claire, Eastmain mine and Reservoir. He seemed quite excited about the prospects at the Reservoir project.
- Other majors and mid-tiers have been on the property other than Goldcorp, including one rare earth miner very interested in the Tellurium on the property.
I know there was more to our discussion, we were joined by other investors, some who raised the question of whether ER would ever consider production. Dr. Robinson maintained that ER is an exploration company and wasn't in the business of bringing the projects to production. Joint Ventures for production with majors or mid-tier partners funding the cost of building a mine weren't ruled out but that is definitely not the primary business plan.
That's about all my tiny little mind could retain for the duration of the day. I'm afraid that's all I can recall, I'd love to hear from other investors who were there and what their impressions are. I personally left the ER booth feeling very confident about my investment in the company, which is substantial.