Business
Ecora Resources PLC Announces Sale of Dugbe Gold Royalty for up to $20m
LONDON, UK / ACCESS Newswire / September 2, 2025 / Ecora (LSE:ECOR)(TSX:ECOR)(OTCQX:ECRAF) announces that it has agreed to sell a wholly-owned subsidiary, which holds a 2% Net Smelter Return royalty over the development stage Dugbe Gold Project in ...
About this update from Ecora Royalties Plc
[{"type":"text","content":"LONDON, UK / ACCESS Newswire / September 2, 2025 / Ecora (LSE:ECOR)(TSX:ECOR)(OTCQX:ECRAF) announces that it has agreed to sell a wholly-owned subsidiary, which holds a 2% Net Smelter Return royalty over the development stage Dugbe Gold Project in Liberia, to a subsidiary of Elemental Altus Royalties Corp. for a total consideration of up to $20.0m.","length":350,"tagName":"p"},{"type":"text","content":"The consideration is comprised of a $16.5m upfront cash payment and contingent consideration of up to $3.5m payable as follows:","length":127,"tagName":"p"},{"type":"text","content":"1) $700,000 upon commencement of project construction; and","length":58,"tagName":"p"},{"type":"text","content":"2) $2,800,000 upon commencement of commercial production.","length":57,"tagName":"p"},{"type":"text","content":"The $3.5m contingent consideration is payable in full in the event the project is built to a smaller scale than that contemplated in the Dugbe Gold Project Feasibility Study (effective date 13 June 2022) upon the cumulative production of 150koz of gold.","length":253,"tagName":"p"},{"type":"text","content":"Ecora acquired the Dugbe royalty in 2012, which had a carrying value of $5.9m as at 31 December 2024.","length":101,"tagName":"p"},{"type":"text","content":"The transaction is expected to close in the coming days.","length":56,"tagName":"p"},{"type":"text","content":"Marc Bishop Lafleche, Chief Executive Officer, commented:","length":57,"tagName":"p"},{"type":"text","content":""The transaction unlocks value from a development stage asset in a non-core commodity and will enable us to accelerate the Group's deleveraging, as well as providing further flexibility to acquire cash generative royalties within our targeted commodity basket in time. The transaction highlights the substantial value within Ecora's wider royalty portfolio outside the core producing assets."","length":410,"tagName":"p"},{"type":"text","content":"For further information","length":23,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"style":"padding:0cm 5.4pt;vertical-align:top;width:324.0pt;","val":[{"type":"text","content":"Ecora Resources PLC","length":19,"tagName":"p","attribs":{}}]},{"style":"padding:0cm 5.4pt;vertical-align:top;width:141.95pt;","val":[{"type":"text","content":"+44 (0) 20 3435 7400","length":20,"tagName"...