ECR’s shares were up 12% after announcing selling of gold mine in Argentina

The London-based precious metals explorer ECR Minerals PLC has sold its Argentinian subsidiary Ochre Mining SA, which holds the SLM gold project in the province of La Rioja, to Chinese-owned Hanaq Argentina SA, in order to focus on the company’s core gold exploration activities in Australia. Shares in ECR were up 12% at 0.70 pence each in London. ECR retained a net smelter return royalty of up to 2%, to a maximum of $2.7 million in respect of future production from the SLM gold project.

Source: London South East