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Ecora Resources PLC shares climbed 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 critical minerals-focused royalty company with assets in North America, South America, Africa, Europe and Australia said it has sold the royalty to a subsidiary of Elemental Altus Royalties Corp for up to $20.0 million. The consideration is made up of a $16.5 million upfront cash payment, with a further $700,000 upon the start of project construction and $2.8 million upon commencement of commercial production. The $3.5 million contingent sum is payable in full if the project is built to a smaller scale than that contemplated in the Dugbe gold project feasibility study upon the cumulative production of 150,000 ounces of gold. Ecora bought the royalty in 2012. It had a carrying value of $5.9 million at the end of 2024. The deal is expected to close in the coming days. ‘The transaction unlocks value from a development stage asset in a non-core commodity and will enable us to accelerate the group’s deleveraging, as well as providing further flexibility to acquire cash generative royalties within our targeted commodity basket in time,’ said Chief Executive Officer Marc Bishop Lafleche. ‘The transaction highlights the substantial value within Ecora’s wider royalty portfolio outside the core producing assets.’ Shares in Ecora Resources were up 3.5% at 75.99 pence in London on Tuesday afternoon. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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