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.

Electrum Resources plc, the diversified mineral and renewable energy development company, announces that Mr Michael de Villiers, who has been Finance Director of the Company since 22 March 2004, has resigned his position for personal reasons, with effect from 30 September 2010.

Further the Company wishes to announce that it has appointed Mr Stephen Clayson to the position of Chief Financial Officer. Mr Clayson, who has diverse experience in the mineral development sector, has worked closely with Electrum and in particular Mr de Villiers on the restructuring of Electrum over the previous two years and already plays a central role in the management of its operations.

 

Patrick Harford, Managing Director of Electrum Resources plc, comments:

“Michael de Villiers has made an immense contribution to Electrum since 2004 and has been instrumental in the success of the broad based restructuring of the Company that has taken place since 2008.

The whole Electrum management team offer their thanks to Michael for his contribution and wish him well in the future.”

 

About Electrum

Electrum Resources plc is a diversified mineral and renewable energy development company which specialises in identifying undervalued projects and structuring them to maximise their development and capital raising potential. Electrum has a substantial interest in THEMAC Resources Group Ltd, a company listed on the TSX Venture Exchange. The primary objective of THEMAC Resources Group Ltd is to return the Copper Flat project, a former producing copper-molybdenum-gold-silver mine located in New Mexico, USA, to commercial production. Electrum also has solar energy interests in New Mexico along with numerous other promising assets elsewhere in the world.

 

For further information please contact:

Electrum Resources plc
Michael Silver, Chairman Tel: +44 (0) 20 7929 1010
Patrick Harford, Managing Director
Email:This email address is being protected from spambots. You need JavaScript enabled to view it.

Daniel Stewart & Company plc
Oliver Rigby/Tessa Smith Tel: +44 (0) 20 7776 6550

Old Park Lane Capital plc
Forbes Cutler Tel: +44 (0) 20 7518 2603
Director of Corporate Broking

Bankside Consultants Ltd Tel: +44 (0) 20 7367 8888
Simon Rothschild

Barry Kaplan Associates
Larry Kaplan Tel: +1 732 747 0702

 

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