ECR Minerals raises £1.5m to advance Australian gold portfolio and names joint broker

ECR Minerals (LSE:ECR) announced a conditional £1.5m fundraising through a discounted placing of approximately 576.9 million new shares at 0.26 pence per share, strengthening the company’s balance sheet as it steps up development and production activity in Australia. Proceeds will be primarily allocated to bringing the Blue Mountain gold project in Queensland into production, supporting near-term output alongside the Raglan alluvial gold operation, and advancing exploration work at the Lolworth and Bailieston projects, with a portion reserved for corporate and working capital requirements.

Management said the new funding, together with anticipated cash flow from Raglan and Blue Mountain, is expected to finance planned operations well beyond 2026. The company reiterated its goal of evolving into a multi-site gold producer, underpinned by a growing portfolio of assets across Queensland and Victoria.

As part of the transaction, OAK Securities has been appointed as joint broker. Its first-year fees will be satisfied through the issue of new shares, with additional broker warrants granted, aligning the broker more closely with ECR’s long-term growth strategy. Subject to shareholder approval, admission of the new shares to AIM is expected around 15 January 2026, increasing the company’s issued share capital to approximately 3.29 billion shares. The board said the combination of fresh capital, a broader project pipeline and substantial tax losses positions ECR to scale its exploration and mining footprint and, over time, potentially cover corporate overheads from Raglan-generated cash flow.

More about ECR Minerals

ECR Minerals plc is a London-listed gold exploration and development company with a portfolio of projects in Australia, spanning Queensland and Victoria. The group is progressing early-stage production at the Raglan alluvial gold project and the Blue Mountain gold project in Queensland, while advancing exploration at the large-scale Lolworth multi-metal project in North Queensland and at Victorian assets including the Bailieston gold and antimony project area. ECR’s strategy is to transition into a multi-project gold producer supported by a pipeline of exploration assets and significant tax losses available to offset future profits.