Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
ECR Minerals ( (GB:ECR) ) just unveiled an announcement.
ECR Minerals has completed the A$1.01 million acquisition of Raglan Resources Pty Ltd, securing full ownership of the fully permitted Raglan alluvial gold project in Queensland, which includes a near-new 60 tonne-per-hour wash plant, mining fleet, accommodation and supporting infrastructure. With permits and key equipment in place, the company plans to commence gold production early in the new year, targeting its first-ever operating revenues and using cash flow from Raglan to support further work at the project and accelerate development of its larger Blue Mountain project, where shared infrastructure and accumulated tax losses are expected to improve operational efficiency and financial returns across its broader Queensland portfolio, including the high-potential Lolworth exploration area.
More about ECR Minerals
ECR Minerals plc is a gold exploration and development company focused on Australia, operating through wholly owned subsidiaries in Victoria and Queensland. Its portfolio includes the Bailieston, Creswick and Tambo gold projects in Victoria, the Raglan alluvial gold project and Blue Mountain alluvial gold project in central Queensland, and significant exploration ground at the Lolworth Range and Kondaparinga in North Queensland. The company also retains contingent payment rights from previously sold Victorian projects and holds approximately A$76 million in unutilised tax losses from prior operations.
Average Trading Volume: 25,705,554
Technical Sentiment Signal: Hold
Current Market Cap: £7.62M
See more insights into ECR stock on TipRanks’ Stock Analysis page.