SYDNEY, AUSTRALIA: ECR Minerals plc, a gold exploration and development company in Australia, has announced the sale of two non-core assets by its subsidiary, Mercator Gold Australia Pty Limited. The assets are a Coretech Drilling Rig and an excavator, which were sold for A$350,000 and A$70,000 respectively.
The drilling rig was sold under a hire purchase agreement, with monthly payments of A$33,000 for nine months, starting from 1 January 2024. The excavator was sold at auction and the funds have been received by Mercator.
ECR Minerals also plans to sell 20 acres of land in Victoria, after applying for planning permission for a residential house. The company expects the land to attract more buyers if the permission is granted. The proceeds from the sales will be used to advance the company’s gold projects in Australia.
ECR Minerals’ Lux Exploration to acquire Blue Mountain Project, Queensland, Australia