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Additional Information
Market: AIM
Sector: Gold Mining
EPIC: ECR
Latest Price: 1.14  (-2.15% Descending)
52-week High: 2.55
52-week Low: 0.85
Market Cap: 7.92M
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ECR Minerals
www.ecrminerals.com

 

ECR Minerals (formerly Electrum Resources) plc is a diversified mining investment company with quality assets and the capability to undertake significant, value accretive transactions. ECR Minerals is dedicated to creating value for its shareholders through a process of finding value, adding value and realising value. In order to achieve this, Electrum Resources is able to access a pipeline of projects sourced from its global network and utilises the expertise of its directors and advisers.

ECR Minerals holds interests in the USA, Argentina, Indonesia, Thailand and Australia.

 

Full ECR Minerals profile here
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Mercator Gold raises £422,500 through placing

15th Mar 2010, 4:17 pm
Mercator Gold raises £422,500 through placing

Mercator Gold (AIM: MCR, OTC: MTGDY) has raised £422,500 through a placing of 16.9m new shares at 2.5p each. The placing was carried out by Old Park Lane Capital (OPL), and shares were predominantly placed with institutional and ultra high net worth investors.

“We are very encouraged by the continued support of our existing shareholders and we welcome our new investors in this placing, which provides the company with the financial flexibility to develop existing projects and pursue new projects of merit”, Mercator Gold MD Patrick Harford commented.

The placing shares are expected to be admitted to AIM with effect from 19 March 2010.

In its full-year results for the 12-months ended 30 September 2009, reported last week, Mercator reported revenues of £4.06m, against nil in the year to June 30th 2008. Pre-tax loss narrowed to £4.4m against £31.9m in the comparative period when Mercator booked a £30m impairment charge after it was forced to close down its Meekatharra gold mining operation due to spiralling costs.

The company is currently diversifying its resource portfolio with potential uranium projects in the pipeline. Last week, Mercator said it is re-establishing itself with a range of assets beyond those that were envisaged at the time of the AIM flotation in October 2004. “In moving forward to a new future it is proposed by the board that the company be renamed Electrum Minerals PLC and a special resolution to this effect will be put to shareholders at the AGM."

Earlier this month, Mercator announced it had entered into a binding agreements to acquire up to 70% in all of Uranio AG’s (XETRA: UAI) exploration and mining licences in Argentina. A four-month due diligence period is currently underway.

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