Business
Sale of Dugbe Gold Royalty for up to $20m
Ecora Resources PLC announced the sale of its wholly-owned subsidiary holding a 2% Net Smelter Return royalty over the Dugbe Gold Project in Liberia to Elemental Altus Royalties Corp. for up to $20.0 million. The consideration includes an upfront cash payment of $16.5 million, with a contingent consideration of up to $3.5 million. Specifically, $700,000 is payable upon commencement of project construction, and $2,800,000 upon commencement of commercial production. The contingent consideration is payable in full upon cumulative production of 150koz of gold if the project is built to a smaller scale. The Dugbe royalty had a carrying value of $5.9 million as of December 31, 2024, and the transaction is expected to close soon. Disclaimer*
About this update from Ecora Royalties Plc
[{"type":"text","content":"\n\n \n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n2 September 2025\n \nEcora Resources PLC\n(\"Ecora\" or the \"Group\")\n \nSale of Dugbe Gold Royalty for up to $20m\n \nEcora (LSE/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.\n \nThe consideration is comprised of a $16.5m upfront cash payment and contingent consideration of up to $3.5m payable as follows:\n \n1) $700,000 upon commencement of project construction; and\n2) $2,800,000 upon commencement of commercial production.\nThe $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.\n \nEcora acquired the Dugbe royalty in 2012, which had a carrying value of $5.9m as at 31 December 2024.\n \nThe transaction is expected to close in the coming days.\n \nMarc Bishop Lafleche, Chief Executive Officer, commented:\n \n\"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.\"\n \n \nFor further information\n \n\n\n\n\nEcora Resources PLC\n\n\n+44 (0) 20 3435 7400\n\n\n\n\nGeoff Callow - Head of Investor Relations\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nWebsite: \n\n\nwww.ecora-resources.com\n\n\n\n\n\n\n\n\n\n\n\n\nFTI Consulting\nSara Powell / Ben Brewerton / Nick Hennis\n \n\n\n+44 (0) 20 3727 1000\[email protected]\n\n\n\n\n \nAbout Ecora Resources\n \nEcora is a leading critical minerals focused royalty company.\n \nOur vision is to be globally recognised as the royalty company of choice synonymous with commodities that support trends of electrification by continuing to grow and divers...