ECR Minerals dropped on news that a potential joint venture at its Sierra de las Minas gold project in Argentina had fallen through.
In August the company said its representatives in La Rioja Province had been approached by a South American group interested in holding preliminary discussions with regard to a joint venture at Sierra de las Minas.
"These discussions have not progressed beyond the initial stage but the company remains open to joint venture approaches," ECR said.
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The firm's shares were down 3.7% at 9.00am following the news.
ECR also announced that a planned programme of geochemical sampling at historical underground workings at its El Abra gold prospect had been completed.
The company expects to be in a position to announce assay results before the end of October.
El Abra is part of the Sierra de las Minas gold project area in the La Rioja Province.
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