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: 6 OCTOBER 2005 - Further to the underwritten offer for the early exercise of 8p warrants (the "Warrants") and the issue of additional Warrants approved by Shareholders and Warrantholders on 30 August 2005, (the "Offer"), the Company announces the issue of new ordinary shares of 1p each (the "New Ordinary Shares") and Warrants. Applications were received for the exercise of 2,561,906 Warrants and under the terms of the Offer, the underwriters, Newland Resources Limited, will take up the remaining 9,938,094 Warrants, making the total number of Warrants exercised 12,500,000 and raising a total of £1,000,000 for the Company before expenses.

Also under the terms of the Offer, 12,500,000 warrants at 10p expiring 7 November 2006 (the "Additional Warrants") were issued.

Application will be made for the 2,561,906 New Ordinary Shares as subscribed for under the Offer to be admitted to trading on AIM ("Admission"), and the remaining New Ordinary Shares taken up by Newland Resources Limited will be applied for separately on completion of the underwriting formalities. The Additional Warrants are not to be admitted to trading on AIM and it is not the intention of the Company to make application for them to be so admitted.

The Directors' Shareholdings further to:

  • the exercise of all of its Warrants by the Vearncombe Superannuation Fund;
  • the exercise of all of his Warrants by Michael de Villiers; and
  • following Admission

will be as follows:

  Number of Ordinary Shares Percentage of Enlarged Share Capital
Terence Strapp 200,000 0.22
Patrick Harford 16,500,100 18.39
Michael de Villiers 1,270,000 1.41
Julian Vearncombe 1,800,000 2
Susan Vearncombe 1,800,000 2
Michael Elias 172,475 0.19
Richard Allen - -
Paul Loudon 2,241,465 2.49

 

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
     
     
     
King & Shaxson Capital Ltd    
Nick Bealer Tel: + 44 (0) 20 7426 5986
     
     
     
Ocean Equities Ltd    
Will Slack Tel: + 44 (0) 20 7786 4375
     
     
     
Parkgreen Communications    
Justine Howarth / Ana Ribeiro Tel: +44 (0) 20 7493 3713

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