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The latest update is out from ECR Minerals ( (GB:ECR) ).
ECR Minerals has conditionally raised £1.5 million through a discounted placing of 576.9 million new shares at 0.26 pence each with institutional and other investors, strengthening its balance sheet to accelerate production and exploration in Australia. The funds will be directed primarily towards bringing the Blue Mountain gold project in Queensland into production, supporting near-term output alongside the Raglan alluvial gold project, and advancing exploration at the Lolworth and Bailieston projects, while also covering corporate and working capital needs; management says the proceeds, combined with expected cash flow from Raglan and Blue Mountain, should fund planned activities well beyond 2026 and support ECR’s ambition to become a multi-site gold producer.
As part of the financing, broker OAK Securities has been appointed joint broker, with its first-year fees to be settled in new shares and additional broker warrants issued, further aligning it with the company’s growth plans. Admission of nearly 600 million new shares to AIM, expected around 15 January 2026, will lift ECR’s issued share capital to about 3.29 billion shares, and the company’s board argues that the combination of fresh capital, a growing project pipeline and substantial tax losses positions ECR to scale up its mining and exploration footprint and potentially cover corporate overheads from Raglan’s cash flow in the medium term.
More about ECR Minerals
ECR Minerals plc is a London-listed gold exploration and development company focused on Australia, with a portfolio of projects in Queensland and Victoria. The company is progressing early-stage production at its Raglan alluvial gold operation and the Blue Mountain gold project in Queensland, while also advancing exploration at the large-scale Lolworth multi-metal project in North Queensland and at its Victorian tenements, including the Bailieston gold and antimony project area. ECR aims to transition into a multi-project gold producer underpinned by a pipeline of exploration assets and significant tax losses available to offset future profits.
Average Trading Volume: 25,249,777
Technical Sentiment Signal: Buy
Current Market Cap: £8.42M
See more insights into ECR stock on TipRanks’ Stock Analysis page.