ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to confirm that further to its announcement of December 18 2023 re the sale of non-core assets (see RNS here).
ECR’s Australian subsidiary Mercator Gold Australia Pty Limited (“Mercator”) has today received the first payment of A$53,000 (excluding GST) relating to the hire purchase sale agreement with a mining operations company for its Coretech Drilling Rig.
The total sale consideration for the Coretech Drilling Rig is A$350,000. A further A$33,000 is due every month for nine months until title in the asset transfers. The full payment obligations under the agreement are guaranteed by a related company to the purchaser.
Additional Disposals
ECR continues to push ahead with plans to sell its remaining non-core assets including 20 acres of land at Springmount in Victoria. Further updates will be provided as appropriate.
The monies raised from these sales will be utilised to progress work on the Company’s portfolio.
FOR FURTHER INFORMATION, PLEASE CONTACT:
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ECR Minerals plc |
Tel: +44 (0) 20 7929 1010 |
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David Tang, Non-Executive Chairman Nick Tulloch, Managing Director Andrew Scott, Director |
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Email: |
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Website: www.ecrminerals.com |
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