Raglan Starts the Engine. Maddens Could Change the Game. ECR’s Gold Platform Expands
“…Raglan was the beginning. We have a nice conveyor belt of Raglan now, Maddens soon, Blue Mountain a little bit after that, Salt Bush next year….”
The composition of a board typically includes the number cruncher, the diplomat, the executive decision maker, the spokesperson and the one who is allowed to get on quietly behind the scenes and find the treasure.
Mike Parker, non-executive director of ECR Minerals was appointed to do just that and is currently on site orchestrating the integration of the exploration and development company’s Paleogold acquisition.
That acquisition gives ECR additional interests in gold projects across Queensland, Western and South Australia and investors will be hearing further mentions of Maddens Flat Group of Mines, Salt Bush Flat Gold Project and Tuckanarra in despatches in due course.
Chairman Nick Tulloch trusts Parker to get on with the job while he deals with his own acquisition – that of a broken bone which has rendered him immobile. He’s still capable of talking though comparing both Parker and the acquired assets as ‘outstanding.’
“His report amplifies what we expected, particularly at Maddens, which is a very near term, very, very significant opportunity for ECR.”
Tulloch describes Maddens as district scale opportunity which already has six gold mines on the site and which ECR is bringing back into operation with a view to production this year, followed by production at Salt Bush in 2027
“This is a very, very different ECR that we have since we’ve completed this acquisition. Much bigger scale, much bigger production opportunity, bigger team as well. The company has changed dramatically in the last 12 months.”
The past year also includes the acquisition of the Raglan alluvial gold project with Parker checking that project is progressing as it should be. Tulloch explains that a team is on site, gold is coming out of the ground and ECR is calculating where the company should mine on the property to give shareholders the biggest bang for their buck.
Raglan is going to be a key enabler for the business. “Raglan was the beginning. Raglan was never going to make the company, “says Tulloch. “We always spoke about the fact that could cover our G&A, it would provide some initial cash flow to support the much bigger project which is Blue Mountain. All the signs are Raglan is going to do exactly that. And for me, that is transformative because that takes us into that first step of being a producer. But the real opportunity going forward is Maddens and Salt Bush.”
With ten projects in four states in Australia, Nick explains to Sarah Lowther in this video interview that “We have a nice conveyor belt of Raglan now, Maddens soon, Blue Mountain a little bit after that, Salt Bush next year. The immediate requirement is to bring gold out of the ground from our various projects and that’s where we’re focused.”
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The author was remunerated but does not hold shares in the company
