ECR Minerals plc is a mineral exploration and development company focused on gold projects in Victoria, Australia
ECR Minerals plc (the “Company”) is a mineral exploration and development company incorporated in England & Wales. Exploration for gold in Victoria, Australia is ECR’s current focus. For the latest updates, please see the Company's regulatory announcements.
ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd ("MGA") has 100% ownership of the Bailieston and Creswick gold exploration projects in Central Victoria, Australia.
As well as its 100%-owned Bailieston and Creswick projects, MGA has the following interest in the Avoca, Moormbool and Timor projects (the "Projects") which were sold by MGA in 2020:
i. MGA will receive a payment of A$1 for every ounce of gold or gold equivalent of measured resource, indicated resource or inferred resource estimated within the area of one or more of the Projects in any combination or aggregation of the foregoing, up to a maximum of A$1,000,000 in aggregate; and
ii. a payment of A$1 for every ounce of gold or gold equivalent produced from within the area of one or more of the Projects, up to a maximum of A$1,000,000 in aggregate.
For more information regarding MGA's interest in the Avoca, Moormbool and Timor projects, please see the announcement dated 20 April 2020.
MGA has accumulated tax losses estimated to total approximately AUD 66 million from its past trading, and these tax losses are expected to be available for offset against any taxable profits made in future.
ECR has earned a significant interest in the Danglay epithermal gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines. An NI43-101 technical report was completed in respect of the Danglay project in December 2015.
ECR holds a net smelter return (NSR) royalty of up to 2% to a maximum of USD 2.7 million in respect of future production from the SLM gold project in La Rioja Province, Argentina.
ECR shares are listed on the AIM market of the London Stock Exchange with the symbol ECR.