ECR identifies Raglan offtake partner
Aim-listed ECR Minerals says it has identified a proposed offtake partner for production from the Raglan project in Queensland, Australia.
Formal documentation and contractual agreements are now being progressed and are expected to be finalised this month.
Further, ECR reports that it has 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 A$1.9-million, significantly exceeding the A$1.01-million consideration paid by ECR for the Raglan project.
"The fact that the replacement value is close to double what we paid reinforces the value embedded in the acquisition," says chairperson Nick Tulloch.
"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.
"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."
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Projects
Latest News
Showroom
Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...
VISIT SHOWROOM
Axiom Hydraulics is a trusted leader in South Africa’s hydraulic industry, delivering world-class components, systems, and engineering expertise...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
