ECR Minerals PLC (AIM:ECR), revealed on Friday it has terminated its option to acquire the Hurricane project after the board was unable to justify the agreed acqusition terms in relation to the value the asset would generate for the company.
ECR managing director Nick Tulloch commented: "The Hurricane project has been a feature of ECR's strategy for almost a year now and terminating the option to acquire it was not a decision that we took lightly. It is evident that that Hurricane has some excellent prospects but the combination with ECR is not right at this time."