REG - Ecora Resources PLC - Sale of Dugbe Gold Royalty for up to $20m

Ecora ResourcesAnnouncement

Tue 07:00

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RNS Number : 5515X  Ecora Resources PLC  02 September 2025

 

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

2 September 2025

 

Ecora Resources PLC

("Ecora" or the "Group")

 

Sale of Dugbe Gold Royalty for up to $20m

 

Ecora (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.

 

The consideration is comprised of a $16.5m upfront cash payment and contingent
consideration of up to $3.5m payable as follows:

 

1)   $700,000 upon commencement of project construction; and

2)   $2,800,000 upon commencement of commercial production.

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.

 

Ecora acquired the Dugbe royalty in 2012, which had a carrying value of $5.9m
as at 31 December 2024.

 

The transaction is expected to close in the coming days.

 

Marc Bishop Lafleche, Chief Executive Officer, commented:

 

"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."

 

 

For further information

 

 Ecora Resources PLC                         +44 (0) 20 3435 7400
 Geoff Callow - Head of Investor Relations

 Website:                                    www.e (http://www.ecora-resources.com) cora-resources.
                                             (http://www.ecora-resources.com) com (http://www.ecora-resources.com)

 FTI Consulting                              +44 (0) 20 3727 1000

 Sara Powell / Ben Brewerton / Nick Hennis   ecoraresources@fticonsulting.com (mailto:ecoraresources@fticonsulting.com)

 

About Ecora Resources

 

Ecora is a leading critical minerals focused royalty company.

 

Our 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 diversify our royalty portfolio in line with our
strategy. We will achieve this through building a diversified portfolio of
scale over high quality assets that drives low volatility earnings growth and
shareholder returns.

 

The mining sector has an essential role to play in the energy transition, with
commodities such as copper, nickel and cobalt - key materials for
manufacturing batteries and electric vehicles. Copper also plays a critical
role in our electricity grids. All these commodities are mined and there are
not enough mines in operation today to supply the volume required to achieve
the energy transition.

 

Our strategy is to acquire royalties and streams over low-cost operations and
projects with strong management teams, in well-established mining
jurisdictions. Our portfolio has been reweighted to provide material exposure
to this commodity basket and we have successfully transitioned from a coal
orientated royalty business in 2014 to one that by 2026 will be materially
coal free and comprised of over 90% exposure to commodities that support a
sustainable future. The fundamental demand outlook for these commodities over
the next decade is very strong, which should significantly increase the value
of our royalty portfolio.

 

Ecora's shares are listed on the London and Toronto Stock Exchanges (ECOR) and
trade on the OTCQX Best Market (OTCQX: ECRAF).

 

 

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