ECR falls after joint venture hope ends

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.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

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.

MM