---
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"
date: 2022-07-29
canonical: "https://www.share-talk.com/ecr-minerals-confirms-the-sale-of-bendigo-property-raises-a950000/"
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"]
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format: "news"
language: "en-GB"
---

# ECR Minerals confirms the sale of Bendigo property raises A$950,000

**Published:** July 29, 2022
**Author:** sharetalk
**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)

---

“Our actions here will ensure that ECR can maintain all scheduled exploration and drilling activities for the foreseeable future.”

**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.

After 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.

This is likely to be the first in a series of dispositions of non-core assets.

**Highlights:**

- The Bassett Road property was purchased on September 27th 2021 for A$887,500

- 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

- Completion and settlement is expected to occur around 30 days from today’s date.

**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.”*

*“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.”*

**Sale of 177 Bassett Road, Sebastian**

On 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.

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