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ECR Minerals ( (GB:ECR) ) has issued an update.
ECR Minerals has announced ongoing discussions with Octo Holdings Pty Ltd regarding the potential sale of its subsidiary, Mercator Gold Australia Pty Ltd (MGA), for A$4.5 million. This sale includes MGA’s tax losses and the Bailieston gold and antimony project, reflecting increased interest due to rising antimony prices. Additional parties have shown interest, leading to more confidentiality agreements, though the deal with Octo is not exclusive or binding. The transaction’s completion would require shareholder approval and could signify a fundamental business change under AIM Rules.
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, Mercator Gold Australia Pty Ltd (MGA), owns the Bailieston and Creswick gold projects in Victoria, while ECR also operates through LUX Exploration Pty Ltd in Queensland. The company is involved in various gold exploration projects with pending and approved licenses across Australia.
YTD Price Performance: -9.33%
Average Trading Volume: 26,162,768
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £6.31M
See more insights into ECR stock on TipRanks’ Stock Analysis page.
