By HotStockRockets | Friday 19 May 2017
Disclosure: Financial Investigative Media Limited, which is not owned by Tom Winnifrith but by a trust for his dependants, owns shares in companies mentioned in this article. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
The great £553,564 investment by Shenyang Xinliaoan Machinery Co Ltd into ECR Minerals (ECR) announced on 27 February grinds on.
You will remember that, to make up for delays in sending the full amount, the Chinese had advanced £200,000 as a non-refundable deposit convertible at 2p. Well some progress has been made with another permit received and so the Chinese are confident the cash will arrive soon.
Pro tem, they have ponied up another £50,000 as another non-refundable deposit and also wired over £10,000 to pay for the legal expenses associated with the delay. The next date by when the remaining cash should arrive is 31 May.
It looks as if ECR is getting there. What we need is on the ground news to spark excitement and that, we expect soon. The shares are up from a 1.7p offer tip price to 1.85p-2.05p. That is above our limit buying price so the stance is hold but it is a very firm hold. We expect to be selling at 2.5p + before long.
This article first appeared on HotStockRockets, where two emergency share tips were published last week. For those, and to catch the next red hot share tips from the HotStockRockets team out shortly, for just £5 click HERE
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