Earlier this month, the company landed new capital alongside its new strategy and it has now set aside an A$100,000 fund for the new opportunities, to support initial due diligence and licence application costs.
It highlighted today that the potential target areas fall into two areas - precious metals (primarily gold) and strategic energy metals & minerals (lithium and cobalt).
“The recent strategic financing has placed the company in an extremely strong financial position with sufficient working capital against current operational plans until at least Q3 2019,” said Craig Brown, ECR chief executive.
“The strength of this financial position means, as a company, we are able to proactively progress our current business interests but also to aggressively pursue new opportunities that may complement our existing portfolio of projects in Australia.”
Brown added: “This announcement confirms that we are seeking to build ECR’s portfolio expeditiously reflecting the resurgence in the Australian resource environment and the steadily reducing pool of reasonably priced projects and exploration ground.
“At this time significant opportunities still exist and are to be seized upon by those with the focus, skill set and vision to do so.”