Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

ECR Minerals' half-year loss narrows as it turns focus squarely on Victoria

The AIM-listed miner reported a pre-tax loss for the period of £247,945, a reduction on the £433,804 loss in the same period last year
Gold
The company also increased its net assets to £3.41mln from £2.38mln

ECR Minerals PLC (LON:ECR) reported a narrowed loss in its half-year results as it turned its focus squarely on projects in the Australian state of Victoria.

The AIM-listed miner reported a pre-tax loss for the period of £247,945, a reduction on the £433,804 loss in the same period last year, while it ended the period with cash and cash equivalents totalling £701,499, up from £107,508 the same time last year.

READ: ECR Minerals details findings at Bung Bong and Monte Christo

The company also said it had increased its net assets to £3.41mln from £2.38mln in the same period last year.

Craig Brown, chief executive of ECR, said that during the period the firm had continued to concentrate its efforts on gold exploration in Victoria, which he said was a relatively overlooked gold exploration destination given its impressive past gold production of around 85mln ounces.

He also noted that the Fosterville mine, located in the same district as ECR’s Bailieston and Moormbool projects, has produced more than one million ounces to date.

Earlier in June, ECR said it had completed a diamond drilling programme across its Bung Bong and Monte Christo projects in the region, which had raised the possibility that there may be further exploration potential at depth, below the base of oxidation.

View full ECR profile View Profile

ECR Minerals PLC Timeline

Related Articles

1507640356_Copper-tubing.jpg
October 10 2017
Tethyan Resources is sitting on promising mineralisation in a prime location in Europe
1513945199_Humm2.jpg
December 22 2017
The plan in 2018 is to deliver not one doré bar, but a 130,000 ounces of the yellow metal
 Björkdal is a standout but miner Mandalay’s resilience underlined by this year’s production stats
January 19 2018
Mandalay is a multi-mine firm, and is not reliant on one project.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use