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ECR Minerals PLC on Friday said that its A$225,000, around £113,000, sale of surplus land in Victoria, Australia, is now unconditional, following the buyer securing financing. The gold-focused exploration and development company said the sale of its Brewing Lane property was arranged directly with the purchaser, with no agency commissions payable. Cash settlement is expected on or around March 14. ECR Minerals said the proceeds will be used to accelerate near-term exploration and operational activities, particularly at its Blue Mountain and Lolworth projects in Queensland. Chair Nick Tulloch said: ‘The sale of our surplus land at Brewing Lane is part of our strategy to realise value from unused assets within ECR. The sale proceeds will be applied to our exploration and operational activities which in the near-term will focus on our Queensland projects at Blue Mountain and Lolworth.’ ECR added that it continues to advance the proposed sale of its subsidiary, Mercator Gold Australia Pty Ltd, which holds A$75 million in tax losses. Discussions with Octo Holdings Pty Ltd remain ongoing, alongside interest from other parties. Shares in ECR Minerals closed 0.4% down at 0.27 pence in London on Friday. Copyright 2025 Alliance News Ltd. All Rights reserved.
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