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 announces the Placing (the "Placing") of 2 million new ordinary shares of 0.01p each ("New Ordinary Shares") at a price of 2.5 pence per share to raise £50,000 before expenses.

Old Park Lane Capital plc (“OPL”) acted for the Company in the further Placing of the New Ordinary Shares, with which is conditional upon, inter alia, admission of the New Ordinary Shares to trading on AIM.

 

Application has been made for the admission of 2,000,000 New Ordinary Shares to AIM effective 22 March 2010. The New Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares currently traded on AIM. Following the admission there will be 163,271,584 Ordinary Shares in issue.

 

For further information please contact:

Mercator Gold plc
Michael Silver, Chairman Tel: +44 (0) 20 7929 1010
Patrick Harford, Managing Director +1 646 239 9087
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
Oliver Winters
Cenkos Securities plc
Beth McKiernan Tel: +44 (0) 20 7397 8900
Old Park Lane Capital PLC
Forbes Cutler Tel: +44 (0) 20 7518 2603
Director of Corporate Broking
Barry Kaplan Associates
Larry Kaplan Tel: +1 732 747 0702

 

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