Ecora Resources PLC Announces Directorate change

Rhea-AI Summary

Ecora Resources PLC (OTCQX: ECRAF) has announced the appointment of Michael Falconer as a non-executive director, effective September 9, 2025. The appointment comes as part of the relationship agreement with South32 Limited, which allows South32 to appoint a director when holding at least 10% of Ecora's shares.

Falconer brings over 20 years of mining sector experience, having served in senior roles at Lonmin, BHP, and most recently as Vice President Business Development at South32. His experience includes leading South32's thermal coal operations divestment in South Africa and overseeing the sale of South32's royalty portfolio to Ecora in 2022.

Ecora is transitioning from a coal-focused business to a critical minerals royalty company, with plans to be 90% focused on sustainable future commodities and materially coal-free by 2026.

Positive

• Strategic board appointment bringing extensive mining sector expertise and familiarity with Ecora's royalty portfolio
• Company's successful transition from coal to critical minerals focused royalties
• Strong positioning in high-demand commodities essential for energy transition

Negative

• Significant board influence granted to South32 through relationship agreement
• Continued exposure to coal assets until 2026 transition completion

LONDON, UK / ACCESS Newswire / September 4, 2025 / Ecora Resources PLC (LSE:ECOR)(TSX:ECOR) announces that, in accordance with the terms of the relationship agreement between the Company and a wholly-owned subsidiary of South32 Limited ("South32") (the "Relationship Agreement"), Michael Falconer has been appointed to the Board of the Company as a non-executive director with effect from 9 September 2025.

Michael has been nominated by South32 pursuant to its right under the Relationship Agreement to appoint a director to the Board for so long as it holds not less than 10% of the Company's issued share capital.

Michael has over 20 years' experience in the mining sector, having held senior commercial and business development roles at Lonmin, BHP and most recently as the Vice President Business Development at South32 where he led the divestment of South32's thermal coal operations in South Africa and oversaw the sale of the South32 royalty portfolio acquired by Ecora in 2022.

Andrew Webb, Chairman of Ecora, commented:

"We welcome South32's nomination of Michael to the Board. His familiarity with the operations underlying the portfolio of royalties the Group acquired from South32 in 2022, together with his business development background in the mining sector complement our existing Board skillset. We look forward to Michael's contribution and the ongoing support of South32 as Ecora continues to grow its portfolio of critical mineral focused royalties."

This announcement satisfies Ecora's disclosure obligations in accordance with UK Listing Rule 6.4.8.

For further information:

Ecora Resources PLC	+44 (0) 20 3435 7400
Jason Gray - Company Secretary
Website:	www.ecora-resources.com
FTI Consulting Sara Powell / Ben Brewerton / Nick Hennis	+44 (0) 20 3727 1000 ecoraresources@fticonsulting.com

About Ecora Resources

Ecora is a leading critical minerals focused royalty company.

Our vision is to be globally recognised as the royalty company of choice synonymous with commodities that support trends of electrification by continuing to grow and diversify our royalty portfolio in line with our strategy. We will achieve this through building a diversified portfolio of scale over high quality assets that drives low volatility earnings growth and shareholder returns.

The mining sector has an essential role to play in the energy transition, with commodities such as copper, nickel and cobalt - key materials for manufacturing batteries and electric vehicles. Copper also plays a critical role in our electricity grids. All these commodities are mined and there are not enough mines in operation today to supply the volume required to achieve the energy transition.

Our strategy is to acquire royalties and streams over low-cost operations and projects with strong management teams, in well-established mining jurisdictions. Our portfolio has been reweighted to provide material exposure to this commodity basket and we have successfully transitioned from a coal orientated royalty business in 2014 to one that by 2026 will be materially coal free and comprised of over 90% exposure to commodities that support a sustainable future. The fundamental demand outlook for these commodities over the next decade is very strong, which should significantly increase the value of our royalty portfolio.

Ecora's shares are listed on the London and Toronto Stock Exchanges (ECOR) and trade on the OTCQX Best Market (OTCQX: ECRAF).

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Ecora Resources PLC

View the original press release on ACCESS Newswire

FAQ

Who is Michael Falconer and when will he join Ecora Resources (ECRAF) board?

Michael Falconer, former Vice President Business Development at South32, will join Ecora Resources as a non-executive director effective September 9, 2025. He brings over 20 years of mining sector experience from roles at Lonmin, BHP, and South32.

What is the relationship between South32 and Ecora Resources (ECRAF)?

South32 has a relationship agreement with Ecora Resources that grants them the right to appoint a director to the Board when holding at least 10% of Ecora's shares. South32 previously sold its royalty portfolio to Ecora in 2022.

What is Ecora Resources' (ECRAF) strategy for transitioning away from coal?

Ecora Resources plans to be 90% focused on sustainable future commodities and materially coal-free by 2026, transitioning from its previous coal-oriented royalty business to focus on critical minerals like copper, nickel, and cobalt.

What are the main commodities in Ecora Resources' (ECRAF) portfolio?

Ecora Resources focuses on critical minerals essential for electrification, including copper, nickel, and cobalt, which are key materials for manufacturing batteries and electric vehicles.

How does Ecora Resources (ECRAF) plan to grow its business?

Ecora plans to grow by acquiring royalties and streams over low-cost operations and projects in well-established mining jurisdictions, focusing on commodities that support sustainable future trends.