ECR Minerals aiming to get new drilling underway in Victoria by year-end
London --News Direct-- ECR Minerals PLC
ECR Minerals PLC managing director Nick Tulloch speaks to Thomas Warner from Proactive after the mineral exploration and development company announced it intends to revisit its assets in Victoria, with fresh drilling expected before the end of 2023.
The interview began with Tulloch explaining the decision, emphasising the compelling prospects in the region as demonstrated by noteworthy results from Southern Cross Gold in the same general area.
Addressing the financial aspect of the drilling campaign, Tulloch saids that the funds raised a couple of months ago would fully cover the expenses for the near-term exploration. Additionally, the company is considering selling underutilised or unnecessary mining equipment to generate additional funds for business progression.
The discussion then shifted to financial matters, with Tulloch elaborating on the extension of the salary sacrifice scheme. Some members of the board have agreed to take £10,000 each in shares instead of salary.
Tulloch expressed his satisfaction with his first few months in the MD role, noting the strategic decisions made, including the choice not to proceed with the Hurricane project in Queensland, and highlighted the company's focused approach to areas that offer the most significant opportunities.
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