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ECR Minerals PLC

ECR Minerals encouraged by "exciting developments" at its projects this year

In May, ECR announced a tax update confirming an Australian research & development cash refund of A$318,972 (roughly £175,188) and an anticipated further claim to be made of about £198,000

Mining operations
ECR has applied to expand its ground position in the Creswick, Bailieston and Moormbool areas.

Pre-revenue gold mine developer ECR Minerals PLC (LON:ECR) said the last nine months or so have been marked by a series of exciting developments.

In its results statement for the six months to the end of March, the company said the first half of the calendar year 2019 saw significant drilling activity at the Creswick gold project in Victoria, and at the Black Cat and Blue Moon gold prospects within the Bailieston project area.

READ ECR Minerals begins exploration work at third Victorian site

The focus of on-the-ground activities was and continues to be the projects in the state of Victoria but the company stressed that the applications lodged in December 2018 for the exploration licences, which will comprise the Windidda gold project in Western Australia, are also important.

Windidda represents a strategic move by ECR into the Yilgarn Craton which, like Victoria, is one of the world’s major gold provinces, the company’s chief executive officer, Craig Brown, said.

While waiting for the licences to be granted, consultants have already begun geophysical data processing and modelling to determine structural trends within, and the depth to, the interpreted buried Archean greenstones.

As for the profit & loss statement, the half-year loss held steady at £282,562 versus a loss the year before of £247,945, despite administrative expenses rising to £432,387 from £240,719; the losses were offset by a tax refund of £175,188.

Quick facts: ECR Minerals PLC

Price: £0.01

Market: AIM
Market Cap: £4.06 m
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