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.

AIM: ECR

US OTC: MTGDY

 

ECR MINERALS plc

(“ECR” or the “Company”)

 

 

 

 

LONDON: 21 NOVEMBER 2016 - The directors of ECR Minerals plc are pleased to announce that at the Company’s General Meeting held today all resolutions were passed and consequently the capital reorganisation has been approved by shareholders. 

 

From 22 November 2016, there will be 129,226,440 ordinary shares of 0.001 pence in issue (“New Enlarged Share Capital”) with new ISIN GB00BYYDKX57. This figure of 129,226,440 may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules.

 

Admission of the New Enlarged Share Capital to trading on AIM will be effective from 8.00 a.m. on 22 November 2016.

 

Full details of the capital reorganisation are available to be downloaded from the Company’s AIM Rule 26 website at www.ecrminerals.com.

 

ABOUT ECR

 

ECR is a mineral exploration and development company.  ECR’s wholly owned Australian subsidiary Mercator Gold Australia has acquired 100% ownership of the Avoca and Bailieston gold projects in Victoria, Australia.  ECR has earned a 25% interest in the Danglay epithermal gold project, 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, Argentina.  Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near term production.

 

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

ECR Minerals plc

Tel: +44 (0)20 7929 1010

William (Bill) Howell, Non-Executive Chairman

 

Craig Brown, Director & CEO

Ivor Jones, Executive Director

 

 

 

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Website:  www.ecrminerals.com

 

 

 

Cairn Financial Advisers LLP

Tel: +44 (0)20 7213 0880

Nominated Adviser

 

Emma Earl / Jo Turner

 

 

 

Optiva Securities Ltd

Tel: +44 (0)203 137 1902

Joint Broker

 

Graeme Dickson

 

 

 

Vicarage Capital Ltd

Tel: +44 (0)20 3651 2910

Joint Broker

 

Rupert Williams / Jeremy Woodgate

 

 

 

Blytheweigh

Tel: +44 (0)20 7138 3204

Public Relations

 

Tim Blythe / Camilla Horsfall

 

 

 

FORWARD LOOKING STATEMENTS

This announcement may include forward looking statements.  Such statements may be subject to a number of known and unknown risks, uncertainties and other factors that could cause actual results or events to differ materially from current expectations.  There can be no assurance that such statements will prove to be accurate and therefore actual results and future events could differ materially from those anticipated in such statements.  Accordingly, readers should not place undue reliance on forward looking statements.  Any forward looking statements contained herein speak only as of the date hereof (unless stated otherwise) and, except as may be required by applicable laws or regulations (including the AIM Rules for Companies), the Company disclaims any obligation to update or modify such forward looking statements as a result of new information, future events or for any other reason.