Zak Mir talking to Chief Operating Officer, Mike Whitlow with today’s confirmation from the company that its subsidiary, Mercator Gold Australia Pty Limited, has agreed to effect the sale of two under-utilised non-core assets.
2023 has been a brutal year, even companies that have done nothing wrong are in negative equity. Are we at the bottom, will 2004 be better on a micro level, liquidity?
ECR Managing Director Nick Tulloch commented: “We have had a stated plan to realise value from assets within ECR that we are not using or do not require. Finalising these two agreements before the end of 2023 exceeds our expectations on timing but the fact that the expected proceeds from these sales should exceed our G&A expenses for the coming year is particularly pleasing.
It is a little over three months since Mike Whitlow and I joined the Company. In that time, we have recapitalised the Company, re-positioned our portfolio to be more cost-effective, commenced a drilling campaign and now realised funds from non-core assets.
We believe 2024 holds a great deal of promise for ECR and we look forward to updating shareholders on our ongoing progress.”
Kuboid Hill and Davey Road prospects, both of which have previously provided evidence of gold mineralisation from soil analysis and rock chip sampling. The following drilling assay results are due shortly after the holiday season.
