ECR Minerals Secures Proposed Offtake Partner and Ups Valuation at Raglan Gold Project

The latest announcement is out from ECR Minerals ( (GB:ECR) ).

ECR Minerals has identified a proposed offtake partner for gold production from its Raglan alluvial gold project in Queensland and is progressing formal documentation, which the board expects to finalise within the month, providing what it sees as a clear route to market for Raglan’s output. An internal insurance valuation has put the replacement cost of Raglan’s plant, equipment and infrastructure at about A$1.9 million, materially above the acquisition price, which management views as validation of the deal and evidence of high-quality facilities; with an experienced team in place, a 300-acre mining lease and commercial arrangements advancing, the company believes the project is well positioned to enter production, generate early cash flow and underpin the expansion of its Queensland gold portfolio, although it cautions that there is no certainty the offtake agreement will be concluded on the expected terms or timetable.

More about ECR Minerals

ECR Minerals PLC is a mineral exploration and development company focused on gold projects in Australia, operating through three wholly owned subsidiaries: ECR Minerals (Australia), ECR Minerals (Queensland) and ECR Minerals (Raglan). Its portfolio includes the Bailieston, Creswick and Tambo gold projects in Victoria, the Raglan and Blue Mountain alluvial gold projects in Queensland, and additional exploration ground in the Lolworth Range and a licence application at Kondaparinga in the Hodgkinson Gold Province. The group also retains contingent payment rights of up to A$2 million from previously sold Victorian projects and holds approximately A$76 million of unutilised tax losses from prior operations.

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