IN BRIEF: ECR Minerals loss slims as prepares for pivotal two months
ECR Minerals PLC - Australia-focused gold exploration and development company - Pretax loss narrows to GBP400,729 in the six months to March 31 from GBP451,412 a year prior although administrative expenses rise to GBP615,185 from GBP540,950. Bottom line benefits from GBP210,859 gain on the disposal of assets including the sale of land at Brewing Lane in Victoria compared with just GBP7,502 a year ago. Continues to seek to realise value from historic accumulated tax losses of over AUD75 million either by sale to a third party or by application to ECR's proposed production plans. Looking ahead, Chair Nick Tulloch says: "The next two months in particular marks a pivotal moment for ECR. Our work in Queensland got underway this week and in the immediate term our eyes are on Blue Mountain where we are carrying out a shallow drilling programme and wash plant prototype testing to determine the process for moving to large scale alluvial mining at the project. From there the team will move 1,000 km north to Lolworth with the rig to target the high-grade gold and rare earth prospects that our surface exploration has pointed to." Read More