Business
Unaudited Half-Yearly Results for the Six Months Ended 31 March 2018
Unaudited Half-Yearly Results for the Six Months Ended 31 March 2018.
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n\n \n \n \n Unaudited Half-Yearly Results for the Six Months Ended 31 March 2018\n \n \n\n \n ECR Minerals plc\n \n \n\n \n \n \n ECR MINERALS plc(“ECR Minerals”, “ECR” or the “Company”)\n \n AIM: ECRUS OTC: MTGDY\n \n UNAUDITED HALF-YEARLY RESULTS FOR THE SIX MONTHS ENDED 31 MARCH 2018 \n AND UPDATE\n \n \n LONDON: 29 JUNE 2018 - The directors of ECR Minerals plc (the \n “Directors”) are pleased to announce the Company’s unaudited half-yearly \n results for the six months to 31 March 2018, along with an update on the \n Group’s activities.\n \n \n HIGHLIGHTS:\n \n \n \n Five gold exploration licences in Victoria, Australia now held by \n ECR’s wholly owned subsidiary Mercator Gold Australia Pty Ltd, with a \n sixth licence applied for\n \n \n Consultancy Terra Resources identified 47 targets for potential \n follow-up within the Avoca, Bailieston, Moormbool and Timor \n exploration licences, including 15 high priority areas\n \n \n Blue Moon, Bung Bong and Monte Christo gold prospects drilled, with \n results for Bung Bong and Monte Christo announced in June 2018\n \n \n Blue Moon assay results received very recently and will be announced \n early next week\n \n \n Acquisition of Creswick gold project, considered highly prospective \n for gold mineralisation\n \n \n Reduced group comprehensive expense of £321,433 for 6 months ended 31 \n March 2018, (£432,339 for six months ended 31 March 2017)\n \n \n Net assets of £3,413,791 at 31 March 2018 (£2,382,561 at 31 March 2017)\n \n \n \n CHIEF EXECUTIVE OFFICER’S REPORT\n \n \n ECR has continued to concentrate its efforts on gold exploration in \n Victoria, Australia, although the Directors regularly review potential \n new projects both inside and outside Australia. We view Victoria as a \n relatively overlooked gold exploration destination, given its impressive \n past gold production of around 85 million ounces, and the presence of a \n number of successful modern gold mines in the state. In particular, we \n note that the Fosterville mine, which is located in the same district as \n ECR’s Bailieston and Moormbool projects, has produced more than one \n million ounces to date, and is now under the ownership of Canada’s \n Kirkland Lake Gold. Kirkland Lake’s 2018 production guidance for \n Fosterville is 260-300,000 ounces from high grade underground mining \n operations.\n \n ...