This week has been eventful, with news landing each day. On Monday, ECR Minerals announced Mike Parker’s appointment as a consultant geologist.
On Tuesday, the company highlighted ‘highly encouraging’ results from the enhanced gold recovery process at ECR’s Blue Mountain gold project in Queensland. One of the standout highlights was the Single Stage Gravity Recoverable Gold (“GRG”) test work on ore samples collected at the Blue Mountain Project demonstrated a recovery rate of 91.7% gold into 0.40% of the mass.
On Wednesday it was an update on Potential Sale of Tax Losses, Queensland and Victoria with the drilling programme is expected to commence this month.
Mike Whitlow, ECR’s Managing Director update.
Here are the key points being discussed in the video:
- Potential Sale of Tax Losses:
- ECR is in discussions with three Australian companies regarding the sale of A$75 million in tax losses. These losses are held within their subsidiary, Mercator Gold Australia Pty Ltd.
- The sale could be linked with the disposal of non-core assets, although there is no guarantee of an agreement.
- Rock Chip Results at Lolworth Project:
- Results from the Lolworth Project, covering Butterfly Creek, Uncle Terry, and Gorge Creek, are expected soon.
- The focus is on evaluating the gold and rare earths potential of the area.
- Partnership with Geological Survey of Queensland:
- ECR has partnered with the Geological Survey of Queensland (GSQ) to investigate critical minerals at the Lolworth Project.
- This partnership is aimed at further exploring mineral resources in the region.
- Tambo Project Drilling Program:
- ECR is preparing to commence a maiden diamond drilling program at the Tambo Project this month.
- The drilling is part of efforts to advance exploration in the area and assess the gold resources.
- Non-core Asset Disposal:
- The company has made progress toward the disposal of non-core assets as part of its broader strategy.
Following the key points from the initial summary, here are additional details and insights from the discussion:
- Appointment of Mike Parker:
- ECR recently appointed Mike Parker, an experienced geologist with a background in working at First Quantum, to their team.
- His addition is seen as a valuable asset to enhance the company’s capabilities in mineral exploration and development.
- Independent Report on Blue Mountain Project:
- An independent report on the Blue Mountain Project conducted by Gecko has shown positive results, particularly regarding gold recovery from the ground.
- This report adds to the company’s confidence in the project’s potential and further advances their exploration efforts.
- Market Concerns – Funding and Asset Size:
- There is ongoing market attention around ECR’s ability to secure funding and the size of its assets. In the video, they address these concerns by emphasizing the meaningful progress made with their core and non-core assets.
- The company is positioning itself to mitigate funding risks while exploring new partnerships and potential revenue streams through asset disposal and the sale of tax losses.
- Exploration and Development Focus:
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- ECR is actively advancing multiple projects in Australia, focusing not only on gold but also on rare earth minerals, which have significant demand in various high-tech and industrial sectors.
- The company’s focus on critical minerals at the Lolworth Project also aligns with broader trends in the mining sector toward diversifying resources and tapping into rare earths markets.
These updates highlight ECR’s strategy to enhance its exploration portfolio while addressing operational and financial challenges. They are actively seeking new opportunities for growth and shareholder value through both their core assets and non-core disposals.
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