REG - ECR Minerals PLC - Board Changes

ECR MineralsAnnouncement

15/02/2024 13:45

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RNS Number : 3197D  ECR Minerals PLC  15 February 2024

ECR MINERALS plc

("ECR Minerals", "ECR" or the "Company")

Board changes

ECR Minerals plc (LON: ECR), the exploration and development company focused
on gold in Australia, announces that David Tang has stepped down as Chairman
of the Company and Nick Tulloch has been appointed Chairman in his place, in
addition to his role as Executive Director of the Company. David Tang will
remain on the board as a non-executive director.

David Tang, Non-Executive Director, said: "I suggested to the board that the
time was right for me to hand over the chairmanship of our Company and, with
the endorsement of the other non-executive directors, I have asked Nick to
take on the role.  We have spoken a lot about the change in pace and change
in approach since Nick and Mike joined ECR last September and I am sure it is
apparent to investors that it is Nick and Mike leading the strategic direction
of the Company and liaising with our counterparties.  I am delighted that
Nick has accepted this role at ECR."

Nick Tulloch, Chairman, said: "My thanks to David who has led ECR through a
very challenging period with great diligence and commitment.  I was honoured
that he asked me to take over as Chairman.  We have been implementing a
number of changes to ECR in recent months and there is still a great deal to
accomplish.  As we move into this next phase, I am pleased that we will
continue to benefit from David's wise counsel and detailed knowledge of our
operations."

The Directors recognise that Nick Tulloch's appointment as Chairman alongside
his ongoing responsibilities as an executive director is not in line with the
QCA Corporate Governance Code but consider that given the current size and
stage of development of ECR, and Nick's experience, it is in the best
interests of all stakeholders for him to take up this position. The Directors
further note that a considerable amount of the operational responsibilities of
the Company are carried out by Mike Whitlow, COO.  At the same time, Trevor
Davenport has been appointed Senior Independent Director of the Company.

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

 ECR Minerals plc                                                                                                                                                                                                                                           Tel: +44 (0) 20 7929 1010
 Nick Tulloch, Chairman

 Andrew Scott, Director

 Email:

 info@ecrminerals.com (mailto:info@ecrminerals.com)
 Website: www.ecrminerals.com
 (http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.ecrminerals.com%2F&esheet=51817334&newsitemid=20180605005810&lan=en-US&anchor=www.ecrminerals.com&index=1&md5=820ad49dc1fc2c84a0538453c017bc1b)

 WH Ireland Ltd                                                                                                                                                                                                                                             Tel: +44 (0) 207 220 1666
 Nominated Adviser

 Katy Mitchell / Andrew de Andrade

 SI Capital Ltd                                                                                                                                                                                                                                             Tel: +44 (0) 1483 413500
 Broker
 Nick Emerson

 Novum Securities Limited                                                                                                                                                                                                                                   Tel: +44 (0) 20 7399 9425
 Broker

 Jon Belliss

 Brand Communications                                                                                                                                                                                                                                       Tel: +44 (0) 7976 431608
 Public & Investor Relations
 Alan Green

 

ABOUT ECR MINERALS PLC

 

ECR Minerals is a mineral exploration and development company. ECR's wholly
owned Australian subsidiary Mercator Gold Australia Pty Ltd ("MGA") has 100%
ownership of the Bailieston and Creswick gold projects in central Victoria,
Australia, has eight active exploration tenements and two in application
(Ballarat and Tambo).

 

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd
("LUX"), which has three approved exploration permits covering 946 km(2) over
a relatively unexplored area in Lolworth Range, Queensland, Australia. The
Company has also submitted a license application at Kondaparinga which is
approximately 120km(2) in area and located within the Hodgkinson Gold
Province, 80km NW of Mareeba, North Queensland.

 

Following the sale of the Avoca, Moormbool and Timor gold projects in
Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the
subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd
(TSX-V: LVX), Mercator Gold Australia Pty Limited has the right to receive up
to A$2 million in payments subject to future resource estimation or production
from projects sold to Fosterville South Exploration Limited.

 

ECR holds a 90% interest in the Danglay gold project; an advanced exploration
project located in a prolific gold and copper mining district in the north of
the Philippines, which has a 43-101 compliant resource. ECR also holds a
royalty on the SLM gold project in La Rioja Province, Argentina and can
potentially receive up to US$2.7 million in aggregate across all licences.

 

 

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