ECORA RESOURCES PLC - ECRAF STOCK NEWS

Ecora Resources PLC announces the initiation of a share buyback program to repurchase ordinary shares for up to US$10 million. The company aims to take advantage of a capital allocation opportunity due to shares trading at a substantial discount to net asset value. The buyback is funded by a recent partial LIORC stake sale and aligns with the capital allocation framework to enhance the royalty portfolio. The program, managed by Peel Hunt LLP, will run from March to September 2024 on the LSE. Ecora's CEO sees this as a strategic move to capitalize on market lows and improve per share metrics, supporting long-term sustainable returns in a low-carbon economy.

Ecora Resources PLC announces FY23 Results presentation by CEO and CFO on 28 March 2024. Shareholders can submit questions beforehand. Investors can sign up for free to attend.

Ecora Resources PLC issues a portfolio update indicating volume growth in 2024 at producing royalties, de-risking events for near-term development royalties, and positive developments at key projects. Vale's Voisey's Bay underground project nears completion, Capstone Copper's Mantos Blancos production remains on track, and IOC receives funding for decarbonization. Capstone Copper and BHP provide updates on Santo Domingo and West Musgrave projects, while Brazilian Nickel progresses with the Piauí project.

Ecora Resources PLC released a trading update for the period from October 1, 2023, to December 31, 2023, reporting a fourth-quarter and full-year 2023 portfolio contribution of $63.6m. The decline was primarily due to lower production within the Group's private royalty area at Kestrel and a normalization of commodity prices in 2023. The net debt as of December 31, 2023, was $75m. The company's CEO expects the Kestrel production to increase by 15-25% compared to 2023, and the Voisey's Bay underground ramp-up to accelerate in H2. The company acquired an incremental royalty interest over the Piauí project for $7.5m and sold ~60% of its residual stake in Labrador Iron Ore Royalty Corporation, realizing a total pre-tax return on investment of c. 110%. The company's net debt at the end of the period was $75m, following these investment activities.

Ecora Resources PLC announces an amendment and extension of its $150 million revolving credit facility agreement with an existing syndicate of Scotiabank, CIBC, and RBC. The agreement includes an uncommitted accordion feature of up to $75 million to fund royalty acquisitions, potentially increasing the borrowing capacity to $225 million. The facility has a maturity date of January 2027 with the potential to extend the tenor twice by up to 12 months on each occasion. The CFO, Kevin Flynn, emphasized the continued and enhanced support from lenders as a strong endorsement of the business and strategy, providing additional capacity to build a leading portfolio of royalties over commodities essential to a more sustainable future.

Ecora Resources PLC (LSE:ECOR)(TSX:ECOR)(OTCQX:ECRAF) announces that the Supreme Court of Western Australia, Court of Appeal has upheld the original judgment in Ecora's legal dispute with Quasar Resources Pty Ltd. The Group received a settlement payment of approximately A$6 million plus interest, which will be released to the income statement in Q4 2023. The Group expects to release approximately A$2.3 million of accrued income in Q4 2023, with a total of approximately A$9.3 million, including interest, to be released to the income statement in Q4 2023. The Group has also been awarded its legal costs of both the trial and of the appeal.

Ecora Resources PLC issues Q3 2023 trading update with a portfolio contribution of $5.8 million. Commodity prices remain stable. Production expected to increase in H1 2024. Agreement reached with Orovalle regarding royalty payments. Acquisition of royalty over Vizcachitas copper project. Net debt of $68 million.

Ecora Resources PLC announces Director Share Dealings

Ecora Resources PLC announces Q2 2023 interim dividend.