REG - ECR Minerals PLC - Raglan offtake partner identified

ECR MineralsAnnouncement

Yesterday 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260203:nRSC4086Ra&default-theme=true

RNS Number : 4086R  ECR Minerals PLC  03 February 2026

 

 

03 February 2026

 

ECR MINERALS PLC

 

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

 

Raglan offtake partner identified and updated valuation assessment

 

ECR Minerals plc (AIM: ECR), the gold exploration and development company
focused on Australia, is pleased to provide an update on its Raglan alluvial
gold project in Queensland (the "Raglan Project").

 

The Company has met with and identified a proposed offtake partner (the
"Proposed Offtake Partner") for gold production from the Raglan Project (the
"Proposed Offtake Agreement"). Members of ECR's board of directors (the
"Board" or the "Directors") have visited the Proposed Offtake Partner's
processing and refining facility, undertaken discussions regarding commercial
terms and operational processes and completed site-level due diligence.

 

Formal documentation and contractual agreements in respect of the Proposed
Offtake Agreement are now being progressed and are expected to be finalised
this month. The Board believes that this Proposed Offtake Agreement represents
a clear and practical route to market for gold produced at the Raglan Project.

 

ECR has also separately completed an internal valuation assessment for
insurance purposes of the plant, equipment and site infrastructure at the
Raglan Project. This process covered the wash plant, gold room, mobile mining
fleet, power generation, camp facilities and associated infrastructure.

 

The replacement value, on a like-for-like basis, of the plant and equipment
has been assessed at approximately A$1.9 million, materially exceeding the
consideration paid by ECR for the Raglan Project. This is considered by the
Board to be further validation of the Raglan Project acquisition and,
importantly, demonstrates the quality of the Raglan Project's facilities.

 

With an experienced operating team in place, an identified proposed offtake
pathway and a mining lease covering approximately 300 acres, the Board
considers that the Raglan Project is entering mining and production with a
high level of operational and commercial confidence.

 

Discussions in relation to the Proposed Offtake Agreement remain early stage
and therefore there can be no certainty that final binding terms will be
agreed, nor as to the timing or final terms, value or any conditions of the
Proposed Offtake Agreement. Further updates will be provided in due course.

 

ECR Chairman, Nick Tulloch, commented: "Identifying the Proposed Offtake
Partner and visiting their facility is an important step as the Raglan
Project's production plan is being implemented. Detailed discussions and
proposed terms have been discussed, and we expect to finalise the formal
documentation this month. This provides confidence that there is a clear and
established route to market for the Raglan Project's gold.

 

"The insurance valuation of the inventory, plant and equipment has been
equally encouraging.  Having visited the site, I have seen first-hand the
high quality of the operations and equipment.  The fact that the replacement
value is close to double what we paid reinforces the value embedded in the
acquisition.

 

"Together, these developments further de-risk the Raglan Project at exactly
the right time. Despite recent volatility, gold prices remain at historically
strong levels and with all infrastructure in place and commercial arrangements
moving to being finalised, we believe that the Raglan Project is well
positioned to deliver early cashflow and support the continued build-out of
ECR's Queensland portfolio."

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

 ECR Minerals Plc                                                                                                                                                                                                                                   Tel: +44 (0) 20 8080 8176
 Nick Tulloch, Chairman                                                                                                                                                                                                                             info@ecrminerals.com (mailto:info@ecrminerals.com)

 Andrew Scott, Director

 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)

 Allenby Capital Limited                                                                                                                                                                                                                            Tel: +44 (0) 3328 5656
 Nominated Adviser and Joint Broker                                                                                                                                                                                                                 info@allenbycapital.com (mailto:info@allenbycapital.com)

 Alex Brearley / Nick Naylor / Vivek Bhardwaj (Corporate Finance)

 Kelly Gardiner (Sales and Corporate Broking)
                                                                                                                                                                                                                                                    Tel: +44 (0) 3328 5656

 OAK Securities

 Joint Broker

 Jerry Keen / Robert Bell

 Axis Capital Markets Limited                                                                                                                                                                                                                       Tel: +44 (0) 203 026 0320
 Joint Broker
 Lewis Jones

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

 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 operating
through three wholly owned Australian subsidiaries ECR Minerals (Australia)
Pty Ltd ("ECR Australia"), ECR Minerals (Queensland) Pty Ltd ("ECR
Queensland") and ECR Minerals (Raglan) Pty Ltd ("ECR Raglan").

 

ECR Australia owns the Bailieston and Creswick gold projects in central
Victoria, Australia as well as the Tambo gold project in eastern Victoria.

 

Raglan Resources has a mining lease at the Raglan alluvial gold project in
central Queensland, Australia and ECR Queensland has two approved exploration
permits over the nearby Blue Mountain alluvial gold project.  ECR is
currently working to bring both projects into production.  ECR Queensland
also has three approved exploration permits covering 946 km(2) over a
relatively unexplored area in Lolworth Range in northern Queensland.
Furthermore, it has also submitted a licence 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), ECR Australia has the right to receive up to A$2 million in
payments subject to future resource estimation or production from these
projects.

 

ECR Australia also has approximately A$76 million of unutilised tax losses
incurred during previous operations.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCEAEAAEDEKEAA



            Copyright 2019 Regulatory News Service, all rights reserved