{"id":99632,"title":"ECR Minerals confirms the sale of Bendigo property raises A$950,000","publisher":"Share Talk","author":"sharetalk","published":"2022-07-29T08:42:01+00:00","modified":"2022-07-29T08:57:57+00:00","canonical_url":"https://www.share-talk.com/ecr-minerals-confirms-the-sale-of-bendigo-property-raises-a950000/","markdown_url":"https://www.share-talk.com/ecr-minerals-confirms-the-sale-of-bendigo-property-raises-a950000.md","json_url":"https://www.share-talk.com/ecr-minerals-confirms-the-sale-of-bendigo-property-raises-a950000.json","category":"Mining","categories":["Mining"],"tags":["Adam Jones","Andrew Haythorpe","Andrew Scott","Avoca Gold Project","bailieston gold project","Ballarat","ballarat gold system","Black Cat","cherry tree","Creswick Gold Project","David Tang","dimocks main shale","dr rodney boucher","ECR","ECR Minerals","fosterville gold mine","fosterville south exploration","Geological Survey of Victoria","Moderna","Philippines","Queensland","Share Talk","Tambo Gold Project","Timor Gold Project","Victoria"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&ssl=1","format":"news","language":"en-GB","content":"“Our actions here will ensure that ECR can maintain all scheduled exploration and drilling activities for the foreseeable future.”\n\n**ECR Minerals PLC, (AIM: ECR )** informed investors that its wholly-owned subsidiary Mercator Gold had now signed an agreement to sell a property located in southeastern Australia.\n\nAfter it had been purchased for A$887 500 in September 2021, the company agreed to sell the property in Sebastian, Victoria for A$950,000.\n\nThis is likely to be the first in a series of dispositions of non-core assets.\n\n**Highlights:**\n\n- The Bassett Road property was purchased on September 27th 2021 for A$887,500\n\n- The agreed sale price of A$950,000 will mark the first disposal from selected non-core assets as outlined in the announcement of July 6th 2022\n\n- Completion and settlement is expected to occur around 30 days from today’s date.\n\n**CEO Andrew Haythorpe commented:** *“I am pleased to announce that we have actioned the first in a series of planned disposals of non-core assets as outlined in our recent strategic update. The agreed Bassett Road property sale price is at a slight premium to the purchase price in 2021 and the funds will add a significant cash sum to our existing resources.”*\n\n*“Our actions here will ensure that ECR can maintain all scheduled exploration and drilling activities for the foreseeable future. I look forward to providing further updates in due course.”*\n\n**Sale of 177 Bassett Road, Sebastian**\n\nOn 6 July 2022, the Company outlined plans for the potential disposal of a series of non-core assets. A reasonably buoyant Victoria property market provided MGA with an opportunity to dispose of the ‘Bendigo’ property at 177 Bassett Road, Sebastian. The sale price of A$950,000 is at a slight premium to the purchase price in 2021. A ‘Contract of Sale’ for the Bassett Road property was executed today, with settlement and completion anticipated to occur around 30 days from today’s date. A deposit of A$95,000 is now due with the balance due on completion. In addition, MGA have retained the right to remain at the property until 1 January 2023 for a nominal sum."}