ECR Minerals Advances in Sale of Australian Assets

ECR Minerals (GB:ECR) has released an update.

ECR Minerals is making significant progress in selling non-core assets of its subsidiary, Mercator Gold Australia, which includes A$75 million in tax losses. The company has extended the exclusivity period with a potential buyer to finalize a complex transaction structure, aiming for a substantial cash consideration. Despite positive discussions, the deal remains uncertain and may require shareholder approval if it leads to a fundamental change in business.

For further insights into GB:ECR stock, check out TipRanks’ Stock Analysis page.