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 JUNE 2007 -The Company announces that pursuant to the terms of the Convertible Loan Notes issued under a placing on 14 December 2005 (the "Convertible Loan Notes"), the remaining four holders of the Convertible Loan Notes have elected to convert their Loan Notes for £943,500 Principal Amount to Ordinary Shares (the “shares”) of 10p each in the Company at a conversion price of 60p each. The holders have also elected to receive all the accrued interest due under the terms of the Convertible Loan Notes in the form of shares at a conversion price of 60p each. The Company will issue 1,645,827 shares in full and final settlement of all the Convertible Loan Notes.

Application has been made for the shares, which rank pari passu with all existing shares, to be admitted to trading on AIM. Dealings in the new Ordinary Shares are expected to commence on 19 June 2007. The total number of shares with voting rights is 62,244,912.

 

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.    
   
   
   
Bankside Consultants Ltd Tel: +44 (0) 20 7367 8888
Simon Rothschild    
Keith Irons    
Oliver Winters    

 

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