By Christian Moess Laursen
Shares in ECR Minerals fell on Monday after the company said results from drilling in Bailieston, Victoria, was worse than thought, and that it has halted its exploration in Creswick, Victoria.
At 0804 GMT, shares are down 0.10 pence, or 19.1%, at 0.43 pence.
The mining company said that due to downgraded potential of an immediate commercial discovery, the drill rig in Bailieston was moved to Creswick.
However, the company has halted the exploration drilling program in Creswick for the remainder of this year due to a lack of demand in global markets for long-term investment into junior gold exploration, the company said.
Write to Christian Moess Laursen at [email protected]
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