In this interview, StockBox spoke to Nick Tulloch, Chairman of ECR Minerals (AIM: ECR), about the company’s move into gold production through the acquisition of the Raglan Project.
- ECR acquired the Raglan project with full infrastructure in place, allowing them to begin gold production and cash flow generation early in the new year.
- With low operational costs and a 60% margin at conservative estimates, the project could pay for itself within a year, setting the stage for financial self-sufficiency.
- Raglan acts as a springboard for the larger Blue Mountain project, with shared resources and learnings driving ECR’s shift from exploration to production in 2026.
Highlights of the Raglan Project
· Granted Mining Lease: the Raglan Project includes a granted mining lease over approximately 300 acres and 2.9km of main creek systems
· Turnkey Infrastructure: the Raglan Project includes a near-new 60 tonne per hour wash plant, gold room, water supply, camp, mobile mining fleet and supporting facilities – ECR estimates that the second hand value of this equipment alone may be around the A$1.01m purchase price
· Nearer-Term Production: The existing equipment and mining lease should enable gold production and cashflow within a shorter-term timeframe, with potential for more than 200 working days per year
· Exploration Upside: Bulk sampling during a previous site visit confirmed coarse nuggety gold and grades that may be consistent with ECR’s nearby Blue Mountain, with potential for both further alluvial resources and a hard-rock source
ECR’s Chairman, Nick Tulloch, added: “Investors will be well aware of how important the Raglan Project is for ECR. It is very literally a turnkey operation with a mining lease and all equipment in place. Our due diligence confirmed what we consider to be an economic mining plan as well as exploration upside.
“As a standalone asset, Raglan is an exciting project but its proximity to our Blue Mountain project further adds to its value. As we conclude our plans to bring Blue Mountain into production, there will very likely be sharing between the two projects of the production team, plant and equipment and technical know-how. It is too early to talk about economies of scale, but we have no doubt that the joint operation of the two projects should lead to significant benefits for ECR.
“We now expect to enter the new year with a clear and identified path to nearer-term revenue generation. We believe that 2026 will mark the transformation of ECR from an explorer into a production company.”
