Ecora Resources PLC (OTCPK:ECRAF)
$ 0.86 0.01 (1.18%) Market Cap: 207.77 Mil Enterprise Value: 293.69 Mil PE Ratio: 11.04 PB Ratio: 0.43 GF Score: 66/100
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Half Year 2024 Ecora Resources PLC Earnings Call Transcript

Sep 04, 2024 / 08:00AM GMT
Release Date Price: $0.785
Marc Bishop
Ecora Resources PLC - Chief Executive Officer, Executive Director

Good morning, and thank you for joining us for Ecora's first half 2024 results presentation.

In the H1 period, we saw strong portfolio contribution of $52 million and that was driven primarily by high volume production within our Kestrel royalty area. During the period, we acquired a royalty over the advanced stage Phalaborwa rare earth project. It's a high-quality rare earth development project that's targeting first production in the latter half of this decade.

We also saw the underground mine extension project at Voisey's Bay approach completion. A key milestone for ramp-up was achieved in the first half of the year. And the second key milestone is expected to be achieved in the second half.

In light of a weak nickel price environment, BHP has temporarily halted the construction of the West Musgrave project with a restart to be considered by February 2027. And this is, of course, disappointing. Although we do remain very confident in this asset's potential as a low-cost, long-life fully permitted

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