ECR Minerals (GB:ECR) has released an update.
ECR Minerals has entered into an exclusivity agreement for the potential sale of its subsidiary, Mercator Gold Australia, a non-core asset, which includes approximately A$75 million in tax losses. The potential sale, still in early negotiation stages, aims to secure a significant cash consideration, aligning with ECR’s strategy to focus on core exploration activities and enhance shareholder value. The agreement allows until November 28, 2024, for further negotiations, with the possibility of a major business change pending shareholder approval.
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