ECR Minerals PLC (LON:ECR) posted a loss of £762,586 for the year to end September 2019, a small increase compared with the loss of £721,460 booked for the year to 30 September 2018.
The largest contributor to the total comprehensive loss was the line item “other administrative expenses”, which represents the costs of operating the company and carrying out exploration at its projects, where these costs are ineligible for capitalisation under applicable accounting standards.
Significant components include consultancy and professional fees, public relations and promotional activities, rent and travel expenses.
The company’s net assets as at 30 September 2019 were £3.6mln, roughly the same as they were in the corresponding period a year earlier.
At the present time, the impact of coronavirus on the company’s operations in Australia has been minimal, according to chairman David Tang.