leadf
logo-loader
viewECR Minerals PLC

ECR Minerals raises £500,000 to support work on Australian gold projects

ECR has a portfolio of gold exploration assets in Australia

ECR Minerals PLC -

ECR Minerals PLC (LON:ECR) has raised £500,000 via a placing of 100mln shares at a price of 0.5p per share.

The group said the money raised will be used to support its ongoing activities, particularly in relation to its gold exploration projects in Victoria, Australia. The placing was arranged by SI Capital Ltd.

The new shares also come with one warrant attached. Each warrant is exercisable to subscribe for a new ordinary share in ECR at a price of 1p for a period of 24 months from the date of admission.

If all the warrants were to be exercised it would generate a further £1mln for the company.

“We are pleased by the confidence in ECR shown by investors in the placing,” said ECR’s chief executive Craig Brown in a statement.

“The company is now in a strong position to implement our strategy, which centres on our exciting portfolio of gold projects in Victoria, Australia. Discussions with third parties regarding certain of these projects are continuing, and we hope to be in a position to update the market shortly.”

Quick facts: ECR Minerals PLC

Price: 3.65 GBX

AIM:ECR
Market: AIM
Market Cap: £32.02 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of ECR Minerals PLC named herein, including the promotion by the Company of ECR Minerals PLC in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

ECR Minerals has 'substantial plans' as drilling kicks off at Bailieston in...

ECR Minerals' (LON:ECR) Craig Brown caught up with Proactive's Andrew Scott following the news their newly acquired drill rig, Midas, is now in operation at its inaugural drill site at the Bailieston Project in Victoria, Australia. It's the first of a number of drill locations which will be...

on 12/1/21

2 min read