At the event, CEO Andrew Haythorpe will be discussing the Company’s exploration activities for its assets in Australia (as set out in the Company’s announcements). Andrew will also outline an updated strategic plan with a series of action points for the year ahead. These include:
- The highly prospective Blue Moon prospect at the Bailieston gold project, plus the Maori Reef system at HR3.
- Creswick gold project summary.
- The gold potential of its 100%-owned licenses at Lolworth Range, Queensland, Australia and plans for boots on the ground in 2022.
- A potential disposal of some of the Company’s non-core assets; and
- The Company remains focussed on delivering the next multi-million ounce discovery.
Commenting CEO Andrew Haythorpe said; “Having undergone a significant transition during the first part of 2022, ECR Minerals is now at an exciting and pivotal stage in its evolution as a gold exploration company. Your board is confident that by actioning the disposals and strategy outlined above, we can streamline the business and ensure we have the resources in place to deliver on our objectives.”
“I look forward to updating our shareholders this evening as well as in the coming months, as we progress our drilling and exploration activities.”
Whilst the strategy outlined above includes a potential disposal this strategy is speculative in nature and there can be no guarantee that any disposal will occur. In addition whilst the potential disposals outlined above are considered by the Directors to be disposals of non-core assets they may, depending on any future negotiated terms, be considered a fundamental disposal of the Company pursuant to AIM Rule 15 of the AIM Rules for Companies. That being the case, any such disposal would be conditional on shareholder approval. Further updates will be provided in due course as appropriate.
FOR FURTHER INFORMATION, PLEASE CONTACT:
|ECR Minerals plc||Tel: +44 (0) 20 7929 1010|
|David Tang, Non-Executive Chairman
Andrew Haythorpe, CEO
|WH Ireland Ltd||Tel: +44 (0) 207 220 1666|
Katy Mitchell / Andrew de Andrade
|SI Capital Ltd||Tel: +44 (0) 1483 413500|
|Novum Securities Limited||Tel: +44 (0) 20 7399 9425|
|BlytheRay||Tel: +44 (0) 207 138 3204|
ABOUT ECR MINERALS PLC
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 eight licence applications outstanding including two licence applications lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at both the Bailieston (EL5433) and Creswick (EL6148) projects and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.
ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three licence applications covering 900 km2 covering a relatively unexplored area in Queensland, Australia.
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), Mercator Gold Australia Pty Limited 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.
ECR holds a 70% interest in the Danglay gold project; an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, which has a 43-101 compliant resource. ECR also holds a royalty on the SLM gold project in La Rioja Province, Argentina and can potentially receive up to US$2.7 million in aggregate across all licences.