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ECR Minerals ( (GB:ECR) ) just unveiled an announcement.
ECR Minerals has entered into a non-binding agreement with Bold Gold for a joint venture on the Creswick Gold Project in Victoria, Australia. This venture aims to fund exploration without diluting shareholder value, with Bold Gold investing up to A$3 million to earn an 80% interest. ECR will retain a 20% interest or opt for a royalty, allowing it to focus on other projects like Blue Mountain. The joint venture is seen as a strategic move to free up resources and management time while maintaining a stake in Creswick’s potential development.
More about ECR Minerals
ECR Minerals is a mineral exploration and development company with a focus on gold projects in Australia. Its wholly owned subsidiary, ECR Minerals (Australia) Pty Ltd, holds 100% ownership of the Bailieston and Creswick gold projects in Victoria, and has exploration permits in Queensland. The company is involved in systematic exploration and potential production opportunities, with a strategic focus on maximizing value from its Victorian assets while advancing projects in Queensland.
Average Trading Volume: 30,513,560
Technical Sentiment Signal: Hold
Current Market Cap: £6.13M
See more insights into ECR stock on TipRanks’ Stock Analysis page.