Home » ECR Minerals (ECR) » ECR Minerals #ECR – Annual Report & Audited Financial Accounts for Year Ending 30 September 2023

ECR Minerals #ECR – Annual Report & Audited Financial Accounts for Year Ending 30 September 2023

ECR Minerals plc is pleased to announce its audited financial statements for the twelve months ended 30 September 2023 (“FY 2023”).

Copies of the Annual Report and Accounts for FY2023 with the notice of annual general meeting have been posted to shareholders and are available on the Company’s recently updated website at https://www.ecrminerals.com.

The Company intends to hold its annual general meeting at 11 am on Tuesday April 23rd 2024 at Hurlingham Studios, Ranelagh Gardens, London SW6 3PA.

Below is an extract from comments made by Chairman Nick Tulloch in the Annual Report for the year ending 30 September 2023:

“Despite the challenges thrown at ECR during 2023, we have significantly advanced the value of our assets across the group and, hopefully, as shareholders will observe, our pace of activity has accelerated into 2024. We have made a conscious effort to re-energise our investment case and activity levels are high – and reflected in increasing trading volumes on the stock exchange – so we believe that we have much to look forward to in the coming year. 

It is important to me, and my fellow directors, that our Board is now fully aligned with shareholders through our salary sacrifice and I very much look forward to participating with you all as we aim to deliver transformative value to our shareholders in the coming year.

Finally, my thanks to our shareholders for supporting us. I hope we can offer you further cause for optimism as we seek to streamline operations and costs, while adding value to ECR’s key assets going forward. I look forward to reporting back to you with further progress.”

Nick Tulloch


Financial Summary for Year Ending 30 September 2023

For the year to 30 September 2023, the Group recorded a total comprehensive loss attributable to shareholders of the Company of £2,132,769, compared with £2,272,658 for the year to 30 September 2022. The largest contributor to the total comprehensive loss was the administrative expenses.

The Group’s net assets as at 30 September 2023 were £5,012,403 in comparison with £5,849,084 at 30 September 2022.

See below for detailed financial statements

Market Abuse Regulations (EU) No. 596/2014

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended (“MAR”). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.



ECR Minerals plc Tel: +44 (0) 20 7929 1010
Nick Tulloch, Chairman

Andrew Scott, Director



Website: www.ecrminerals.com
WH Ireland Ltd   Tel: +44 (0) 207 220 1666
Nominated Adviser

Katy Mitchell / Andrew de Andrade

Axis Capital Markets Limited Tel: +44 (0) 203 026 0320
Ben Tadd/Lewis Jones
SI Capital Ltd Tel: +44 (0) 1483 413500
Nick Emerson
Novum Securities Limited  Tel: +44 (0) 20 7399 9425

Jon Belliss

Brand Communications Tel: +44 (0) 7976 431608
Public & Investor Relations
Alan Green



ECR Minerals is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”) has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia, has six licence applications outstanding which includes one licence application lodged in eastern Victoria (Tambo gold project).

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Lolworth Range, Queensland, Australia. The Company has also submitted a license application at Kondaparinga which is approximately 120km2 in area and located within the Hodgkinson Gold Province, 80km NW of Mareeba, North Queensland.

Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), MGA has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.  MGA also has approximately A$75 million of unutilised tax losses incurred during previous operations.

ECR holds a 90% interest in the Danglay gold project in the Philippines and a royalty on the SLM gold project in La Rioja Province, Argentina which could potentially receive up to US$2.7 million in aggregate across all licences.


Link here to view the full annual report and financial statements

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