ECR Minerals PLC (LON:ECR) told investors on Friday that it is seeing “extremely positive" results from its Australian gold exploration programme in the Victoria region as it issued new shares to its marketing and communications services providers.
The company said it has issued 3,878,400 new ordinary shares valued at £38,784 to several providers of investor and public relations services.
“I am pleased to see the confidence in the company shown by marketing and communications advisors taking fees in shares at a premium to the current share price,” said chief executive Craig Brown.
“ECR Minerals is now seeing extremely positive results from the Australian gold exploration programme in Victoria region and it is important that we increase market awareness of our work and our notable recent successes at Blue Moon and importantly, Creswick.”
He added: “With this in mind we have been working with advisors to develop a broad communications strategy and secure the right mix of media partners to help broadcast our message.
"Our marketing & media partners are largely incentivised through share based fee payments in respect of recently delivered and planned services and we plan to see a significant increase in the breadth and depth of company communications at this important time in the advancement and development of the company.”
The company also said it has terminated its broking arrangement with Optiva Securities and now has SI Capital Limited as its sole broker.