MERCATOR GOLD plc
(“Mercator Gold”, “Mercator” or “the Company”)
US OTC: MTGDY
LONDON: 15 FEBRUARY 2005 - Mercator Gold plc ("AIM-MCR; MCRW") announces that it has placed 15,625,000 new ordinary shares of 1p each ("the New Shares") at 8p per share to institutional clients of Ocean Equities Ltd and Phillip Securities (UK) Ltd. The New Shares will rank pari passu with the existing ordinary shares of 1p each, and application will be made to the London Stock Exchange for the New Shares to be admitted to trading on AIM.
The placement will raise gross proceeds of £1,250,000 and be used to fund drilling at the Company's Meekatharra gold properties in Western Australia and for general working capital.
Mercator also announces that it has appointed Ocean Equities Ltd as joint broker to the Company.
For further information please contact:
|Mercator Gold plc|
|Patrick Harford, Managing Director||Tel:||+44 (0) 20 7929 1010|
|Beaumont Cornish Limited|
|Roland Cornish||Tel:||+ 44 (0) 20 7628 3396|
|Phillip Securities UK Limited|
|Nick Bealer||Tel:||+44 (0) 20 7553 8281|
|Justine Howarth / Ana Ribeiro||Tel:||+44 (0) 20 7493 3713|
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