ECR Minerals PLC Further re the sale of Non-Core Assets (7305Z)
15 Januar 2024 - 1:46PM
UK Regulatory
TIDMECR
RNS Number : 7305Z
ECR Minerals PLC
15 January 2024
ECR MINERALS plc
("ECR Minerals" or the "Company")
Further to the Sale of Non-Core Assets
ECR Minerals plc (LON:ECR), the exploration and development
company focused on gold in Australia, is pleased to confirm that
further to its announcement of December 18 2023 re the sale of
non-core assets (see RNS here ), ECR's Australian subsidiary
Mercator Gold Australia Pty Limited ("Mercator") has today received
the first payment of A$53,000 (excluding GST) relating to the hire
purchase sale agreement with a mining operations company for its
Coretech Drilling Rig.
The total sale consideration for the Coretech Drilling Rig is
A$350,000. A further A$33,000 is due every month for nine months
until title in the asset transfers. The full payment obligations
under the agreement are guaranteed by a related company to the
purchaser.
Additional Disposals
ECR continues to push ahead with plans to sell its remaining
non-core assets including 20 acres of land at Springmount in
Victoria. Further updates will be provided as appropriate.
The monies raised from these sales will be utilised to progress
work on the Company's portfolio.
FOR FURTHER INFORMATION, PLEASE CONTACT:
ECR Minerals plc Tel: +44 (0) 20 7929 1010
David Tang, Non-Executive Chairman
Nick Tulloch, Managing Director
Andrew Scott, Director
Email:
info@ecrminerals.com
Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0) 207 220 1666
Nominated Adviser
Katy Mitchell / Andrew de Andrade
SI Capital Ltd Tel: +44 (0) 1483 413500
Broker
Nick Emerson
Novum Securities Limited Tel: +44 (0) 20 7399 9425
Broker
Jon Belliss
Brand Communications Tel: +44 (0) 7976 431608
Public & Investor Relations
Alan Green
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 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), 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 90% 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.
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