Ecora Resources PLC (LSE:ECOR, TSX:ECOR, OTCQX:ECRAF) CEO Marc Bishop Lafleche has provided a positive outlook for the company in 2024, following a strong end to 2023.
Speaking to Proactive's Stephen Gunnion following the release of the company's fourth-quarter results, Bishop Lafleche highlighted the expected momentum across its portfolio with volume growth ranging from 10 to 40%, driven by key assets such as Mantos Blancos and Kestrel. The CEO emphasized Ecora's sector-leading copper growth profile, with significant advancements expected in projects like Santo Domingo and the West Musgrave nickel-copper project in Australia.
Bishop Lafleche also discussed strategic movements in the company's holdings, notably the increased royalty in the Piaui nickel project and the sale of a stake in LIORC. These decisions align with Ecora’s focus on de-risking projects and strengthening their balance sheet, exemplified by the 110% pre-tax return from the Labrador investment.
Furthermore, the extension of Ecora's debt facility to 2027, with an increased accordion feature, was announced, showcasing the continued support from lending banks and positioning the company for further growth. The CEO also touched upon current market conditions, noting the scarcity of financing in the mining sector, which presents unique opportunities for Ecora as a permanent source of capital.
