Business
Sale of Bendigo Property Raises A$950,000
Sale of Bendigo Property Raises A$950,000.
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n \nSale of Bendigo Property Raises A$950,000\n\nECR Minerals plc\n\n \n \n \n ECR MINERALS plc\n \n \n (“ECR Minerals”, “ECR” or the “Company”)\n \n \n Sale of Bendigo Property Raises A$950,000\n \n \nECR Minerals plc (LON: ECR), the gold exploration and development company focused on Australia, is pleased to announce that its 100% owned Australian subsidiary Mercator Gold Holdings Pty Ltd (“MGA”) has executed a sale and purchase agreement for the sale of the Company’s ‘Bendigo’ property located at 177 Bassett Road, Sebastian.\n\n \n Highlights:\n \n \n \nThe Bassett Road property was purchased on September 27th 2021 for A$887,500\n\n \nThe agreed sale price of A$950,000 will mark the first disposal from selected non-core assets as outlined in the announcement of July 6th 2022\n\n \nCompletion and settlement is expected to occur around 30 days from today’s date.\n\n \n \n CEO Andrew Haythorpe commented:\n “I am pleased to announce that we have actioned the first in a series of planned disposals of non-core assets as outlined in our recent strategic update. The agreed Bassett Road property sale price is at a slight premium to the purchase price in 2021 and the funds will add a significant cash sum to our existing resources.”\n \n \n “Our actions here will ensure that ECR can maintain all scheduled exploration and drilling activities for the foreseeable future. I look forward to providing further updates in due course.”\n \n \n Sale of 177 Bassett Road, Sebastian\n \n \nOn 6 July 2022, the Company outlined plans for the potential disposal of a series of non-core assets. A reasonably buoyant Victoria property market provided MGA with an opportunity to dispose of the ‘Bendigo’ property at 177 Bassett Road, Sebastian. The sale price of A$950,000 is at a slight premium to the purchase price in 2021. A ‘Contract of Sale’ for the Bassett Road property was executed today, with settlement and completion anticipated to occur around 30 days from today’s date. A deposit of A$95,000 is now due with the balance due on completion. In addition, MGA have retained the right to remain at the property until 1 January 2023 for a nominal sum.\n\n \nAs previously announced, further asset disposals are planned, and we will update the markets in due course as appropriate.\n\n \n FOR FURTHER INFORMATION, PLEASE CONTACT:\n \n \n \n \n \n ECR Minera...