Bill Howell, non-executive chairman of ECR Minerals PLC (LON:ECR) said the gold explorer has been rejuvenated by recent management changes.
Finance director Craig Brown was chosen as the company’s new chief executive in September and brings with him a sound track record, having been a founding director of Kryso Resources, which evolved into China Nonferrous Gold.
Brown’s brief is nothing short of turning around ECR’s fortunes as, like all mining juniors, it has had a torrid time recently.
Stockbroker Christian Dennis, currently the chief executive of Optiva Securities, joined in October and he “revitalised our financial situation,” Howell asserted.
“We raised half a million pounds, so we’re on a sound footing again, and able to undertake the exploration we’ve been wanting to do for some well,” Howell said.
“This month we appointed a guy called Ivor Jones, who is a consulting geologist,” Howell said. He is a member of industry body, the Joint Ore Reserves Committee (JORC), and so is well known in the industry.
With the dream team now in place, the company has moved its focus from the Philippines and Argentina, both of which were difficult jurisdictions in which to work, to a country that is practically synonymous with mining: Australia.
The Avoca and Bailieston gold projects in Victoria are now the priority, and they are in an area that has a lot of history.
“Mining started in about the 1850s, and it produced 80mln ounces of gold, to date, which is a third of all of Australia’s production,” Howell revealed.
Having recruited a geologist born and bred in the area “who knows every niche and cranny” of the area, the company has some good targets to test, starting in January 2017.