ECR Minerals shares marched higher on Monday as investors cheered a shake-up in the junior explorer’s leadership team while the company raised £580,000 to fund growth plans.
Nick Tulloch and Mike Whitlow have joined the leadership team at ECR Minerals as the gold exploration company aims to advance operations across its Australian assets. Tulloch has been appointed Executive Director and Managing Director, while Whitlow takes on the role of Chief Operating Officer.
The appointments come as former CEO Andrew Haythorpe steps down to pursue other interests. Haythorpe oversaw ECR’s development during a challenging period and worked to advance the company’s Queensland assets.
Tulloch brings over 20 years of experience advising companies on capital markets, with expertise in international resources. He was previously CEO of CBD company Zoetic International.
Whitlow has a track record of successfully investing in and financing startups and small caps. He assembled resource projects through his company Axies Ventures.
The new leaders aim to address ECR’s opportunities and are expected to update shareholders soon. Their appointments coincide with a pivotal time for ECR’s exploration and development work across Australia.
“I am hugely excited to be joining the ECR board at such an important time for the Company. Having known and worked with Mike Whitlow for a number of years, I know he is equally excited at the scale of the opportunity, and at the same time, both he and I wish to be fully aligned with all shareholders as we embark on this journey,” said Managing Director Nick Tulloch.
“We look forward to working with the ECR board to help realise the potential of the Company asset portfolio and deliver shareholder value.”
ECR Minerals shares were 23% higher at the time of writing.