Raglan Project

Ownership of the Raglan Project is pending anticipated completion of the acquisition. The Raglan Project is located between Rockhampton and Gladstone in central Queensland, close to mechanical services and infrastructure, and comprises a granted mining lease covering approximately 300 acres.

Historically, the site has produced coarse alluvial gold, and recent prospecting has confirmed the continued presence of gold-bearing gravels. The Raglan Project will be acquired with a comprehensive package of infrastructure including a near-new 60 tonne-per-hour gravity processing plant, gold room, water supply, fuel storage, and mobile plant vehicles – enabling nearer-term recommencement of operations following completion of the acquisition.

Under the terms of the acquisition, ECR will purchase Raglan Resources Pty Ltd, the holder of Licence ML 3665. The purchase price is fully funded by the subscription announced on 1 October 2025. 

With minimal additional capital required, we believe that the Raglan Project represents a compelling opportunity to fast-track ECR’s alluvial gold ambitions alongside its forthcoming production plans at Blue Mountain.

Around three quarters of the gold produced during ECR’s pre-acquisition due diligence was in small nuggets (up to 0.5 gramme pieces) with the Raglan Project’s fine gravity concentrator recovering the balance as fine gold.  The gold produced during the due diligence at Raglan was coarse, often with sharp edges potentially indicating a local source.  Similarly, some particles of gold were observed attached to quartz, also indicating that a local source of the gold may be in the upper part of the lease area.

ECR currently estimates that the cost of operations at the Raglan Project, inclusive of diesel and two personnel, would be around A$3,000 per day which, at the current gold price, would require production of only around 0.6 oz/day to cover such overheads.

Pending anticipated completion of the acquisition, ECR has begun discussions with a potential production team, the aim being to ensure that gold production at the Raglan Project can begin within a relatively short time thereafter.