New Risk • Mar 23
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: UK£7.24m (US$9.72m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 1.3% per year over the past 5 years. Shareholders have been substantially diluted in the past year (49% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (UK£7.24m market cap, or US$9.72m). Minor Risk Currently unprofitable and not forecast to become profitable next year (UK£1.2m net loss next year). Announcement • Mar 05
ECR Minerals plc, Annual General Meeting, Mar 27, 2026 ECR Minerals plc, Annual General Meeting, Mar 27, 2026. Location: the offices of allenby capital limited, 5th floor, 5 st helens place, c3a 6ab, london United Kingdom Announcement • Feb 12
ECR Minerals plc Announces Results of an Internal Site Analysis of Its 100% Owned Raglan Alluvial Gold Project in Central Queensland ECR Minerals plc announced the results of an internal site analysis of its 100% owned Raglan alluvial gold project in central Queensland (the "Raglan Project"). The analysis defines an initial Phase 1 mine plan focused on a clearly delineated section of the historic river system and the Board considers that it illustrates the potential for attractive near-term economics, while highlighting significant scope to expand mining activities in future phases. Initial mineable area identified along the main historic river channel, forming the basis of the Company's Phase 1 mining plan. Internal analysis, which the Board considers conservative, indicates potential to recover approximately 938 ounces of gold in Phase 1 over a multi-year period, which would have an illustrative gross in-situ value of approximately AUD 7 million at prevailing gold prices. Indicative revenue over the coming years represents a multiple of approximately seven times the Raglan Project acquisition price, based solely on the initial Phase 1 mine plan. Phase 1 a nalysis excludes side creeks, extensions, deeper gravels and optimisation opportunities, which represent potential upside for future mining phases. Initial Mining Plan - Phase 1 below illustrates the area currently identified by the Company as mineable under the initial mining plan. The plan follows the main historic riverbed through the Raglan Project area. Dark blue represents the area targeted for mining; Green shows areas previously trenched by historical operators. The proposed mineable area defined at this stage comprises approximately 162,000 m2. Assuming gold-bearing gravels extend to an average depth of 1.5 metres, the initial plan would cover approximately 243,000 bank cubic metres of material, which ECR would intend to mine and process over a multi-year period. Using what the Board considers to be a conservative average grade of 0.12 grammes per bank cubic metre, derived from all test work completed to date (including lower-grade material), the Phase 1 mining area is illustratively estimated to contain approximately 938 ounces of gold. At current gold prices, this would equate to an indicative gross in-situ value the company's Phase 1 mining plan and has not been verified or validated by any third parties. The Directors consider that the analysis is intentionally conservative and based on the following assumptions: The average grade used reflects all test results to date, including lower-grade material and the analysis assumes that this is representative across the Phase 1 mining area; Gold-bearing gravel depth is expected to vary across the project area and the analysis assumes that an average depth of 1. 5 metres is representative across the Phase 1 Mining area, to provide approximately 243,000 bank cubic meters of material for processing; The analysis assumes that a minimum gross gold price of AUD 7,150 per ounce will be achievable over the multi-year period required to mine and process 243,000 bank cubic metres the Phase 1 mining area; Previously mined areas are assumed to contain no recoverable gold; No allowance has been made for side creeks, extensions along strike, deeper gravels or optimisation of mining methods. The analysis is based on internal operational planning work and does not constitute a mineral resource or reserve estimate, or a resource update in accordance with the AIM Note for Mining, Oil and Gas Companies (the "AIM MOG Note"). In addition, nor was any analysis prepared to the standards set forth in the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves ("JORC") or prepared in accordance with any other appropriate internationally recognised reporting standard ("Standard") for mineral resources and reserves as set out in the AIM MOG Note. Clear Path to Expansion; Importantly, the work completed to date represents only the initial phase of mining planned at the Raglan Project. These test pits are expected to provide additional insight into gravel depth variability, grade distribution and potential extensions to the current mine plan, whilst generating cash flow. As mining progresses and operational data is gathered, ECR expects to refine and potentially expand the mining footprint over time, with the objective of extending mine life, increasing prospective annual gold output and enhancing overall returns from the Raglan Project. ECR's Chairman, the objective of the Raglan Project. Announcement • Feb 05
ECR Minerals plc Provides Update on Its Raglan Alluvial Gold Project in Queensland ECR Minerals plc provided an update on its Raglan alluvial gold project in Queensland. The Company has met with and identified a proposed offtake partner for gold production from the Raglan Project. Members of ECR's board of directors have visited the Proposed Offtake Partner's processing and refining facility, undertaken discussions regarding commercial terms and operational processes and completed site-level due diligence. Formal documentation and contractual agreements in respect of the Proposed Offtake Agreement are now being progressed and are expected to be finalised this month. The Board believes that this Proposed Offtake Agreement represents a clear and practical route to market for gold produced at the Raglan Project. ECR has also separately completed an internal valuation assessment for insurance purposes of the plant, equipment and site infrastructure at the Raglan Project. This process covered the wash plant, gold room, mobile mining fleet, power generation, camp facilities and associated infrastructure. The replacement value, on a like-for-like basis, of the plant and equipment has been assessed at approximately AUD 1.9 million, materially exceeding the consideration paid by ECR for the Raglan Project. This is considered by the Board to be further validation of the Raglan Project acquisition and, importantly, demonstrates the quality of the Raglan Project's facilities. With an experienced operating team in place, an identified proposed offtake pathway and a mining lease covering approximately 300 acres, the Board considers that the Raglan Project is entering mining and production with a high level of operational and commercial confidence. Discussions in relation to the Proposed Offtake Agreement remain early stage and therefore there can be no certainty that final binding terms will be agreed, nor as to the timing or final terms, value or any conditions of the Proposed Offtake Agreement. Further updates will be provided in due course. Announcement • Jan 27
ECR Minerals plc Announces Implementation of Production Plan At the Raglan Alluvial Gold Project ECR Minerals plc announced that it is implementing its production plan at the Raglan alluvial gold project (the "Raglan Project") this week, marking a key step as the Company prepares to enter initial gold production. The Company has profiled the site and identified priority locations for initial trenching. These areas will be worked at successive depths as part of a broader programme designed to determine where gold grades are highest before progressing upstream across the property. In parallel, ECR will re-analyse previously worked ground, particularly at deeper levels, where the Board believes - consistent with outcomes at the nearby Blue Mountain Project - that recoverable gold remains in situ. During the early stages of production at the Raglan Project, the operating team will assess and optimise the configuration of mining equipment, particularly the wash plant. The objective is to maximise daily throughput while maintaining a high level of gold recovery. The Company's Blue Mountain Project has been independently tested and demonstrated a recovery rate of 91.7% gold into 0.40% of the mass, and part of the coming work programme will be aimed at assessing whether Raglan will achieve a comparable recovery rate performance. Chairman Nick Tulloch and Directors Andrew Scott and Chris Gibbs will be meeting in Queensland later this week to oversee the initial stages of mining and production activities at the Raglan Project. During the visit, the Board members will meet with the operating team, review production progress based on early grade observations and meet with a prospective off-taker for gold production from both Raglan and Blue Mountain. This milestone will coincide with exceptionally strong recent precious-metal prices, with gold currently trading above USD 4,988 per ounce and silver having recently moved through USD 100 per ounce, providing a highly favourable market backdrop as ECR enters its production phase. The Raglan Project is a fully permitted, turnkey alluvial gold project located in central Queensland and held under Mining Lease ML 3665. The project includes a near-new 60 tonne-per-hour wash plant, gold room, water supply, accommodation camp and mobile mining fleet, enabling prompt mobilisation and a low-capex pathway to production. With the operating team secured and all key infrastructure already on site, Raglan is expected to deliver ECR's initial gold production and near-term early cashflow. The project also provides a foundation for shared operational capability and equipment utilisation across the Company's nearby Blue Mountain alluvial gold project. The Board considers that Raglan's anticipated operating parameters are consistent with other producing alluvial mines in Queensland, where commercial production is achieved even at relatively modest grades, particularly in the current gold price environment. The Company's subsidiary that owns the Raglan Project has been renamed ECR Minerals (Raglan) Pty Limited, aligning it with the branding of the Company's other Australian subsidiaries. New Risk • Jan 11
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 8.0% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (UK£7.40m market cap, or US$9.92m). Minor Risks Latest financial reports are more than 6 months old (reported March 2025 fiscal period end). Shareholders have been diluted in the past year (21% increase in shares outstanding). 
