ECR Minerals said made it made great operational progress in its last financial year, though this was overshadowed by the untimely death of chief executive Craig Brown.
The explorer is focused on several gold prospects in Victoria in Australia and David Tang, chairman, said it had significantly advanced the value of the assets across the group.
“Despite the loss of Craig, we are hugely optimistic about the future and what we will achieve in the current year,“ he said.
Cash on 31 March 2022 was £1.23mln, which ECR said was enough for the immediate future. Losses in the year to September 2021 were £1.47mln.