Ecora Resources PLC Announces Sale of Dugbe Gold Royalty for up to $20m
Ecora Resources (OTCQX:ECRAF) has agreed to sell its subsidiary holding a 2% Net Smelter Return royalty over the Dugbe Gold Project in Liberia to Elemental Altus Royalties Corp. The total consideration is up to $20.0 million, comprising a $16.5 million upfront cash payment and contingent consideration of up to $3.5 million.
The contingent payments include $700,000 upon project construction commencement and $2.8 million upon commercial production start. The Dugbe royalty, acquired in 2012, had a carrying value of $5.9 million as of December 31, 2024. The transaction aligns with Ecora's strategy to transition from coal to critical minerals focused on electrification trends.
Ecora Resources (OTCQX:ECRAF) ha accettato di cedere la sua controllata titolare di un royalty del 2% sul Net Smelter Return relativo al progetto aurifero Dugbe in Liberia a Elemental Altus Royalties Corp. Il corrispettivo complessivo può arrivare fino a $20,0 milioni, composto da un pagamento in contanti anticipato di $16,5 milioni e da una componente contingentata fino a $3,5 milioni.
I pagamenti contingentati prevedono $700.000 al momento dell'avvio dei lavori di costruzione del progetto e $2,8 milioni all'inizio della produzione commerciale. La royalty su Dugbe, acquisita nel 2012, aveva un valore contabile di $5,9 milioni al 31 dicembre 2024. L'operazione è coerente con la strategia di Ecora di transitare dal carbone verso i minerali critici legati alle tendenze di elettrificazione.
Ecora Resources (OTCQX:ECRAF) ha acordado vender su filial que posee un royalty del 2% Net Smelter Return sobre el proyecto aurífero Dugbe en Liberia a Elemental Altus Royalties Corp. La contraprestación total asciende hasta $20,0 millones, que incluye un pago en efectivo inicial de $16,5 millones y una consideración contingente de hasta $3,5 millones.
Los pagos contingentes comprenden $700.000 al inicio de la construcción del proyecto y $2,8 millones al comienzo de la producción comercial. La regalía de Dugbe, adquirida en 2012, tenía un valor contable de $5,9 millones al 31 de diciembre de 2024. La transacción encaja con la estrategia de Ecora de pasar del carbón a minerales críticos orientados a las tendencias de electrificación.
Ecora Resources (OTCQX:ECRAF)는 라이베리아의 Dugbe 금광 프로젝트에 대한 2% Net Smelter Return 로열티를 보유한 자회사를 Elemental Altus Royalties Corp.에 매각하기로 합의했습니다. 총 대가는 최대 $20.0백만으로, $16.5백만의 선지급 현금과 최대 $3.5백만의 조건부 대가로 구성됩니다.
조건부 지급은 프로젝트 착공 시 $700,000과 상업적 생산 개시 시 $2.8백만을 포함합니다. 2012년에 취득된 Dugbe 로열티는 2024년 12월 31일 기준 장부가치가 $5.9백만이었습니다. 이 거래는 전력화 추세에 따른 중요 광물로의 전환이라는 Ecora의 전략과 부합합니다.
Ecora Resources (OTCQX:ECRAF) a convenu de céder sa filiale détenant une royauté de 2% Net Smelter Return sur le projet aurifère Dugbe au Libéria à Elemental Altus Royalties Corp. La contrepartie totale peut atteindre $20,0 millions, comprenant un paiement initial en espèces de $16,5 millions et une contrepartie conditionnelle pouvant aller jusqu'à $3,5 millions.
Les paiements conditionnels incluent $700 000 au démarrage des travaux de construction du projet et $2,8 millions au début de la production commerciale. La redevance de Dugbe, acquise en 2012, avait une valeur comptable de $5,9 millions au 31 décembre 2024. La transaction s'aligne sur la stratégie d'Ecora de passer du charbon aux minerais critiques liés aux tendances d'électrification.
Ecora Resources (OTCQX:ECRAF) hat zugestimmt, seine Tochtergesellschaft, die eine 2% Net Smelter Return-Royalty auf das Dugbe-Goldprojekt in Liberia hält, an Elemental Altus Royalties Corp. zu verkaufen. Die Gesamtsumme beträgt bis zu $20,0 Millionen und setzt sich zusammen aus einer vorab zu zahlenden Barzahlung von $16,5 Millionen sowie einer erfolgsabhängigen Vergütung von bis zu $3,5 Millionen.
Zu den bedingten Zahlungen gehören $700.000 bei Baubeginn des Projekts und $2,8 Millionen bei Beginn der kommerziellen Produktion. Die Dugbe-Royalty, 2012 erworben, hatte zum 31. Dezember 2024 einen Buchwert von $5,9 Millionen. Die Transaktion steht im Einklang mit Ecoras Strategie, vom Kohlegeschäft zu kritischen Mineralien vor dem Hintergrund der Elektrifizierungs-Trends umzusteigen.
- Sale price of $20M represents significant premium over $5.9M carrying value
- Transaction provides immediate cash influx of $16.5M
- Proceeds will accelerate company's deleveraging efforts
- Strategic exit from non-core commodity aligns with focus on critical minerals
- Loss of potential future revenue stream from gold royalty
- Contingent portion of $3.5M depends on project development milestones
LONDON, UK / ACCESS Newswire / September 2, 2025 / Ecora (LSE:ECOR)(TSX:ECOR)(OTCQX:ECRAF) announces that it has agreed to sell a wholly-owned subsidiary, which holds a
The consideration is comprised of a
1)
2)
The
Ecora acquired the Dugbe royalty in 2012, which had a carrying value of
The transaction is expected to close in the coming days.
Marc Bishop Lafleche, Chief Executive Officer, commented:
"The transaction unlocks value from a development stage asset in a non-core commodity and will enable us to accelerate the Group's deleveraging, as well as providing further flexibility to acquire cash generative royalties within our targeted commodity basket in time. The transaction highlights the substantial value within Ecora's wider royalty portfolio outside the core producing assets."
For further information
Ecora Resources PLC | +44 (0) 20 3435 7400 |
Geoff Callow - Head of Investor Relations | |
Website: | |
FTI Consulting Sara Powell / Ben Brewerton / Nick Hennis | +44 (0) 20 3727 1000 |
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
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
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