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Share Price Information for ECR Minerals (ECR)

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Share Price: 0.285
Bid: 0.27
Ask: 0.30
Change: -0.005 (-1.72%)
Spread: 0.03 (11.111%)
Open: 0.29
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Low: 0.285
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ECR Minerals buys option on Iceberg Gold Project

Fri, 03rd Aug 2018 10:28

(Sharecast News) - Precious metals exploration and development company ECR Minerals announced the signing of an agreement with Pacific Trends Resources on Friday, which it said secured an option over the Iceberg Gold Project in Western Australia.The AIM-traded firm said the Iceberg Gold Project comprised three tenements under application, totalling 137 square kilometres of ground immediately along strike and adjacent to the Tropicana gold mine - which has around eight million ounces in gold mineral resource estimates - operated by AngloGold Ashanti and Independence Group under joint venture.It said the project represented a portfolio of ground lying within a proterozoic belt, and within the plumridge terrane that hosted the Tropicana deposit.ECR said proterozoic belts were usually host to known significant deposits of gold, copper, nickel and uranium.It said an option fee of £25,000 was payable, securing a 60-day option period and comprising £10,000 cash, which was payable immediately, and £15,000 through the immediate issue of 1.5 million new ordinary shares in ECR Minerals, at a deemed price of one penny per share.Should ECR want to exercise the option, it said it could acquire a 100% interest in the Iceberg Gold Project through a further payment of £0.225m, satisfied by way of the issue of 22.5 million new ordinary at the same deemed price.In the event that ECR or a member of its group developed the project and entered into production, a further payment to the vendors, Pacific Trends Resources, would be payable through the issue of a further 30 million new ordinary shares, again at the deemed price of one penny per share.ECR Minerals said it would produce a further information update for shareholders "in due course", along with updates as its due diligence work progressed."The signing of this option agreement is another step forward in ECR's campaign to become a leading Australian-focussed gold and strategic metals exploration and development company," said chief executive officer Craig Brown in his statement to shareholders."Competition for project opportunities in the Proterozoic belts is increasing, particularly following recent large discoveries in the Paterson Province of Western Australia."There remains the potential for further multi-million ounce discoveries within this type of geology."Brown said given that backdrop, the ECR Minerals team was "excited" to be offered an opportunity to secure an option over the project package."Subject to the successful completion of our due diligence work, we look forward to moving forward with the project."Following its recent financing ECR is well funded and able to engage proactively on its project interests."Your company continues to build on these activities to deliver a broader based and refocused ECR Minerals."
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10 Jan 2024 11:57

ECR Minerals receives samples showing gold mineralisation at Lolworth

(Alliance News) - ECR Minerals PLC on Wednesday said it has received samples from its Lolworth Project in Queensland, as it looks to plan the next phase of its exploration.

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18 Dec 2023 15:56

ECR Minerals agrees to sell two non-core assets, plans further sale

(Alliance News) - ECR Minerals PLC on Monday said its subsidiary Mercator Gold Australia Pty Ltd agreed to sell two "under-utilised" non-core assets, while it plans another sale.

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12 Dec 2023 11:46

ECR Minerals begins drilling at Creswick gold project in Australia

(Alliance News) - ECR Minerals PLC on Tuesday said that drilling had commenced at its Creswick gold project in central Victoria, Australia.

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11 Dec 2023 11:50

IN BRIEF: ECR Minerals hires contractor for Creswick drilling

ECR Minerals PLC - Australia-focused mineral exploration and development company - Says its subsidiary Mercator Gold Australia Ltd has engaged a drilling contractor to undertake ECR's proposed drilling programme at the Creswick gold project in central Victoria. Campaign will focus on the Kuboid Hill and Davey Road prospect locations, at which previous soil analysis and rock chip sampling tests have found evidence of gold. Company says all necessary permits and drilling permissions have been submitted, and that once the "simple procedural step" of gaining right of access to the site is complete it expects drilling to start "very shortly", most likely by the end of the year. ECR plans to complete approximately 1,200 metres of reverse circulation drilling in total around ten to 12 Creswick locations. Assay results should become available midway through the first three months of 2024, allowing for laboratory closures over the Christmas holiday period.

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20 Nov 2023 14:43

ECR Minerals celebrates as Lolworth samples suggest mineralisation

(Alliance News) - ECR Minerals PLC on Monday touted the latest results from pan concentrate stream samples at its Lolworth project in North Queensland, which it said suggest extended mineralisation.

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16 Nov 2023 21:08

IN BRIEF: ECR Minerals plans drilling at Victoria assets

ECR Minerals PLC - Australia-focused mineral exploration and development company - Says it is encouraged by drilling intercepts by Southern Cross Gold Ltd in Victoria, and recommencement of exploration by Falcon Metals Ltd north of Bendigo. As a result, says it will re-evaluate gold assets at Creswick and Bailieston. Notes that it is negotiating pricing with a drilling company, and aims to begin drilling before the Christmas holiday period.

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31 Oct 2023 14:23

TRADING UPDATES: Amaroq wins two new exploration licences in Greenland

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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23 Oct 2023 13:16

ECR Minerals finds gold in Lolworth project exploration in Australia

(Alliance News) - ECR Minerals PLC on Monday noted encouraging gold results from outcrop mapping and sampling at its Lolworth project in north Queensland, Australia.

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20 Oct 2023 18:32

ECR Minerals terminates option to buy Hurricane project

(Alliance News) - ECR Minerals PLC on Friday said it has terminated its option to buy the Hurricane project.

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5 Oct 2023 12:10

ECR Minerals receives rock sample results from Hurricane project

(Alliance News) - ECR Minerals PLC on Thursday said it has received final rock chip results for 224 samples from the Hurricane project in North Queensland, Australia.

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2 Oct 2023 14:33

TRADING UPDATES: ECR Minerals extends option acquire Placer Gold

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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29 Sep 2023 15:47

UK shareholder meetings calendar - next 7 days

Monday 2 October 
no events scheduled 
Tuesday 3 October 
Equals Group PLCGM re capital reduction approval
Haydale Graphene Industries PLCGM re capital reorganisation
Wednesday 4 October 
Alien Metals LtdAGM
Black Sea Property PLCAGM
TheWorks.co.uk PLCAGM
Thursday 5 October 
Afentra PLCGM re Azule acquisition
Capricorn Energy PLCGM re return on cash to shareholders
Henderson Smaller Cos Investment Trust PLCAGM
Novacyt SAAGM
Sportech PLCGM re cancellation and re-registration as PLC
Friday 6 October 
Caracal Gold PLCGM re capital raise
ECR Minerals PLCGM re approval of subscription
Pendragon PLCGM re UK Motor and PVM sale
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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27 Sep 2023 16:06

TRADING UPDATES: ECR Minerals submits exploration licence in Australia

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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25 Sep 2023 12:03

ECR Minerals "excited" by new discoveries at Lolworth project

(Alliance News) - ECR Minerals PLC on Monday said it has identified numerous gold, niobium and rare-earth elements discoveries within the Lolworth project, in North Queensland, Australia.

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18 Sep 2023 20:27

IN BRIEF: ECR Minerals raises GBP580,000 via fundraise

ECR Minerals PLC - Australia-focused mineral exploration and development company - Raises GBP580,000 via conditional fundraise, issuing 331.4 million new shares at 0.175 pence each. The subscription has been agreed "with high net work individuals and institutional investors," company says. Expects admission of new shares to occur around October 10, subject to approval at a general meeting with a date yet to be announced. Managing Director Nick Tulloch says: "The board anticipates that, if approved, the funds raised will primarily be allocated to fast track ECR's Queensland projects, plus there are a number of new opportunities on the table that the board may decide to progress once the appropriate due diligence has been undertaken. Along with my board colleagues, I look forward to reporting further progress very shortly."

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