5th Mar 2026 17:09
(Alliance News) - ECR Minerals PLC reported a wider annual loss on Thursday as administrative costs rose, though the Australia-focused gold explorer said it is making progress towards becoming a producer.
For the year ended September 30, the company posted a pretax loss of GBP1.3 million, widened from GBP1.2 million the year before. ECR generated no revenue in either financial 2025 or 2024.
The largest contributor to the loss was administrative expenses, which rose to GBP1.3 million from GBP1.2 million. This included a one-off share-based payment charge of GBP379,192. Excluding this, other administrative expenses decreased to GBP869,552 from GBP1.1 million.
Chair Nick Tulloch said the company made significant operational progress during the year, highlighting the Raglan and Blue Mountain projects as near-term production opportunities.
"Alluvial gold is a powerful model for a company of our size, with its low capital expenditure and faster development profile," he said, adding that the group remains open to further opportunities across its portfolio.
Tulloch also pointed to the Lolworth project as a "standout" district-scale gold and silver opportunity, while emphasising the continued importance of the company’s Victorian tenements.
"I am frequently reminded that the ride on ECR is not always smooth and there have been challenges to get where we are today," he said.
"But I will finish where I started. ECR is a very different company to what it was even a few years ago. We all have considerable cause for optimism as we become a gold producer and miner."
Shares in ECR were down 0.6% at 0.29 pence in London on Thursday afternoon.
By Eva Castanedo, Alliance News reporter
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