Having been stuck in the trenches are ECR Minerals about to go over-the-top ?
“…I am taking 90 per cent of my remuneration in shares. We think the price of the shares are particularly distressed and we want to get in the trenches with the shareholders…”
Mike Whitlow has been an investor in explorer ECR Minerals PLC for a long time experiencing what he describes as ‘the glory days’ and the less glorious. His position as Chief Operating Officer of the company is a matter of weeks, but in that time, the man better known for his online alter ego Doc Holliday, says a lot has been achieved.
Overheads have beem scrutinised, board remuneration is share-centric and cash light, over half a million pounds has been raised and rigorous inventory stock taking has flushed out commercial opportunities with a “multifaceted RC diamond core drill rig that’s sitting there in the box.”
That’s one of the legacies of previous management; the same management that invested shareholder money into assets in Victoria. Whitlow understands the excitement generated by the possibility of what lies in the Australian state that is home to the old timer pan handlers and hub of the pre-Covid gold rush.
“It’s almost been sitting on care and maintenance for the last 18 months. We want to open the door and the box again and see what opportunities are there. Lots of our peers are out there very active in the field and having some success, and their assets are in and around where we’ve operated historically. So we believe that it’s well worth going under the bonnet again, having a look at what needs to be done, and hopefully getting back out.”
The new management that is Whitlow and city veteran Nick Tulloch share the board’s long-held ECR vision that it can deliver the next multi-million ounce gold resource in Australia and they’re restructuring to make this a reality.
Listen to Mike talk to Sarah Lowther in the podcast below about the green shoots and firmer foundations that are being laid at ECR.
Read our TMSReach research article about ECR’s portfolio potential
Follow the company on ‘X’ – @ecrminerals
The author was remunerated but does not hold shares in the company