3rd Sep 2025 11:11
(Alliance News) - Ecora Resources PLC on Wednesday said 2025 is "proving to be a significant year" as it reported a decline in interim revenue tied to timing differences at its Kestrel mining area.
The critical minerals-focused royalty company has assets in North America, South America, Africa, Europe and Australia.
Ecora said it swung to a pretax loss of USD10.9 million in the six months that ended June 30, from USD17.9 million a year earlier.
Driving this was a 68% decline in royalty and metal stream related revenue to USD15.8 million from USD49.5 million, with total portfolio contributions in the first half falling to USD17.9 million from USD51.3 million.
Ecora attributed the decline to timing differences at its mining area at Kestrel, with this weighted to the second-half this year, compared to the first-half last year.
It reported an 81% increase in its base metals portfolio contribution during the first half of 2025 to USD8.7 million from USD4.8 million.
The company declared an interim dividend of 0.60 cents, down 65% from from 1.70 cents a year prior.
The latest dividend represents 25% of "average free cash flow generated in the immediate two preceding six-month periods", in line with its capital allocation policy.
Shares in the Ecora rose for the third day in succession, up 4.3% at 78.20 pence on Wednesday morning in London.
Ecora shares got a lift on Tuesday after it said 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.
The consideration is made up of a USD16.5 million upfront cash payment, with a further USD700,000 upon the start of project construction and USD2.8 million upon commencement of commercial production.
Chief Executive Marc Lafleche commented: "The continued growth from our critical minerals portfolio is the highlight of these results, with our base metals portfolio delivering an 81% increase in contributions compared to the same period last year.
"2025 is proving to be a significant year for Ecora as we continue to pivot towards a revenue profile underpinned by a growing critical minerals portfolio, with copper at its core."
By Christopher Ward, Alliance News reporter
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