Calling time on ECR

Bitcoin treasury? - no fanks

Dear reader,

Just a flash update to record my decision to sell out of ECR Minerals. I covered this on the 12th May at a 0.20p/0.21p bid/ask and more recently in my Fun Run July musing. Today’s close is a modest 5% return selling into a rising market eager to embrace new policies.

Apparently the company has decided to adopt a bitcoin and digital asset policy. It’s a great pity, as I’ve adopted a “run a mile policy from companies with those policies” policy. So far that policy has served me well.

Obviously, you might not have such a policy and who knows perhaps will even welcome this policy. Good luck!

Companies don’t go bankrupt for not having enough bitcoin but do go bankrupt for not having enough real money and the idea of diverting real money for digital speculation is simply madness. Especially as cash flow and pressured fund raises are the reason for the share price to be at low levels.

Fully appreciate that this policy is a future intention and not a here and now (least one hopes so) but nevertheless if you’ve got enough spare cash in the future to invest it into a speculative asset rather than developing your assets, then you’ve got enough to return that cash to shareholders via buy backs or dividends. If shareholders then buy those speculative assets with those divvies it’s on them.

Isn’t there an irony that Bitcoin is always represented in pictures as a gold coin? Gold. And coinage. The two things Bitcoin actually isn’t and that ECR are giving up due to its policy.

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Regards,

The Oak Bloke.

Disclaimers:

This is not advice, make your own investment decisions.

Micro cap and Nano cap holdings might have a higher risk and higher volatility than companies that are traditionally defined as "blue chip".