ECR is a mineral exploration and development company, incorporated in the UK.

ECR’s wholly owned Australian subsidiary Mercator Gold Australia (MGA) has agreed to acquire 100% ownership of the Avoca and Bailieston gold projects in Victoria, Australia. Mercator Gold Australia is estimated to have tax losses of approximately AUD 66M as at 30 June 2015, which may be available, subject to certain conditions (as described in ECR’s announcement dated 4 December 2014), to reduce MGA’s future taxable profits.

ECR has the right to earn a 50% interest in the Danglay epithermal gold project in the Philippines. Danglay is an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines. An NI43-101 technical report was completed in respect of the Danglay project in December 2015, and is available for download from ECR’s website.

ECR’s wholly owned subsidiary Ochre Mining has a 100% interest in the SLM gold project in La Rioja Province, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near term production.

 

ECR shares are listed on the AIM market of the London Stock Exchange with the symbol ECR.

MERCATOR GOLD plc
(“Mercator Gold”, “Mercator” or “the Company”)

AIM: MCR

US OTC: MTGDY

 

LONDON: 15 FEBRUARY 2005 - Mercator Gold plc ("AIM-MCR; MCRW") announces that it has placed 15,625,000 new ordinary shares of 1p each ("the New Shares") at 8p per share to institutional clients of Ocean Equities Ltd and Phillip Securities (UK) Ltd. The New Shares will rank pari passu with the existing ordinary shares of 1p each, and application will be made to the London Stock Exchange for the New Shares to be admitted to trading on AIM.

The placement will raise gross proceeds of £1,250,000 and be used to fund drilling at the Company's Meekatharra gold properties in Western Australia and for general working capital.

Mercator also announces that it has appointed Ocean Equities Ltd as joint broker to the Company.

 

For further information please contact:

Mercator Gold plc    
Patrick Harford, Managing Director Tel: +44 (0) 20 7929 1010
Email:This email address is being protected from spambots. You need JavaScript enabled to view it.    
   
   
   
Beaumont Cornish Limited    
Roland Cornish Tel: + 44 (0) 20 7628 3396
     
     
     
Phillip Securities UK Limited    
Nick Bealer Tel: +44 (0) 20 7553 8281
     
     
     
Parkgreen Communications    
Justine Howarth / Ana Ribeiro Tel: +44 (0) 20 7493 3713

 

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