ECR Minerals PLC Board Change (5924A)
23 Enero 2024 - 1:03AM
UK Regulatory
TIDMECR
RNS Number : 5924A
ECR Minerals PLC
23 January 2024
ECR MINERALS plc
("ECR Minerals", "ECR" or the "Company")
Board Change
ECR Minerals plc (LON: ECR), the exploration and development
company focused on gold in Australia, announces that, given the
Company's recent acceleration in exploration activity and following
an in-country visit by Managing Director Nick Tulloch, Technical
Director Adam Jones has stepped down from the board of directors
with immediate effect. Adam will nonetheless continue in his role
with ECR as chief geologist and technical director of exploration,
and by stepping down from the board he will be able to focus more
of his time on the Company's commercial operations.
ECR Managing Director Nick Tulloch commented: "It has hopefully
been apparent to shareholders that the pace of our operations has
accelerated in recent months and, with that, comes the need to
position our capabilities to take full advantage of opportunities
that may be presented to us. It is important to note that this
board change is no reflection on Adam - in fact the conversation
was instigated by him. Having just returned from Victoria, I can
say with full confidence that we have an outstanding team of which
Adam is a core part. We also have an extensive portfolio of assets
which will require increasing attention as we seek to develop them
into commercial prospects. By relinquishing his board duties, Adam
will now have more time to focus on his skillset of identifying and
progressing prospects in Australia.
"What was clear from my recent visit, and meetings I attended
whilst there, is that the opportunities in both Victoria and
elsewhere in Australia for ECR are potentially very significant. We
need - and we have - a dedicated and experienced team on the ground
who can concentrate on bringing these opportunities to fruition.
Asking that team to fulfil other duties, particularly those covered
by existing board members, is a duplication of resources."
ECR Chief Geologist and Technical Director of Exploration Adam
Jones commented: "ECR has been re-energised since the appointment
of Nick and Mike, and thanks to their arrival we now have a
well-balanced board of directors with strong and complimentary
skillsets. It had always been my intention to focus on our
opportunities in the ground and I am pleased to be able to now give
both our existing, and potentially new, prospects my full attention
as we continue to develop the company."
FOR FURTHER INFORMATION, PLEASE CONTACT:
ECR Minerals plc Tel: +44 (0) 20 7929 1010
David Tang, Non-Executive Chairman
Nick Tulloch, Managing Director
Andrew Scott, Director
Email:
info@ecrminerals.com
Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0) 207 220 1666
Nominated Adviser
Katy Mitchell / Andrew de Andrade
SI Capital Ltd Tel: +44 (0) 1483 413500
Broker
Nick Emerson
Novum Securities Limited Tel: +44 (0) 20 7399 9425
Broker
Jon Belliss
Brand Communications Tel: +44 (0) 7976 431608
Public & Investor Relations
Alan Green
ABOUT ECR MINERALS PLC
ECR Minerals is a mineral exploration and development company.
ECR's wholly owned Australian subsidiary Mercator Gold Australia
Pty Ltd ("MGA") has 100% ownership of the Bailieston and Creswick
gold projects in central Victoria, Australia, has eight active
exploration tenements and two in application (Ballarat and
Tambo).
ECR also owns 100% of an Australian subsidiary LUX Exploration
Pty Ltd ("LUX"), which has three approved exploration permits
covering 946 km(2) over a relatively unexplored area in Lolworth
Range, Queensland, Australia. The Company has also submitted a
license application at Kondaparinga which is approximately 120km(2)
in area and located within the Hodgkinson Gold Province, 80km NW of
Mareeba, North Queensland.
Following the sale of the Avoca, Moormbool and Timor gold
projects in Victoria, Australia to Fosterville South Exploration
Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor
projects to Leviathan Gold Ltd (TSX-V: LVX), Mercator Gold
Australia Pty Limited has the right to receive up to A$2 million in
payments subject to future resource estimation or production from
projects sold to Fosterville South Exploration Limited.
ECR holds a 90% interest in the Danglay gold project; an
advanced exploration project located in a prolific gold and copper
mining district in the north of the Philippines, which has a 43-101
compliant resource. ECR also holds a royalty on the SLM gold
project in La Rioja Province, Argentina and can potentially receive
up to US$2.7 million in aggregate across all licences.
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