ECR Minerals plc (the “Company”) is a mineral exploration and development company incorporated in England & Wales. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd has 100% ownership of the Avoca, Bailieston, Moormbool and Timor gold exploration licences in Central Victoria, Australia.

Exploration for gold in Victoria is ECR’s current focus. A map of the Victorian licences can be viewed here. For the latest updates, please see our regulatory announcements.

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.

ECR’s wholly owned Argentine subsidiary Ochre Mining has 100% ownership of 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.

ECR shares are listed on the AIM market of the London Stock Exchange with the symbol ECR.

(“Mercator Gold”, “Mercator” or “the Company”)




LONDON: 17 OCTOBER 2007 - Mercator Gold plc (“Mercator” or the “Company”) (MCR.L) announces the placing (the "Placing") of convertible loan notes (“Notes”) with institutional investors to raise approximately £2.6 million before expenses.

The Notes carry interest of 8.5% per annum, will be redeemed at par on or before 16 October 2010 and are convertible into ordinary shares in the Company (“Ordinary Shares”) at a conversion price of 95p per Ordinary Share at any time on or after the first anniversary of their issue and at 120p per Ordinary Shares at any time on or after the second anniversary of their issue. The closing mid-market price of an Ordinary Shares on 16 October 2007 was 82p. Cenkos Securities plc, Ocean Equities Limited and Loeb Aron & Company Limited acted for the Company in the Placing of the Notes, which will not be admitted to trading on AIM.

Funds will be used to expedite pre-stripping at the Bluebird deposit and to drill the Company’s Euro Project. Commissioning of the Company’s Bluebird Mill is now well-advanced with production ramping up according to the Company’s schedule. Mill throughput of up to 240t/hour has been achieved whilst metallurgical recoveries have exceeded planned levels of 90%.

Patrick Harford, Managing Director of Mercator Gold, commented:

“Mercator is keen to proceed with the opening up of the Bluebird Pit and to drill the Euro Project. These projects will underpin the Company’s objective of producing 120,000 ounces over the next 12 months.”


For further information please contact:

Mercator Gold plc    
Patrick Harford, Managing Director Tel: +44 (0) 20 7929 1010
Email:This email address is being protected from spambots. You need JavaScript enabled to view it.    
Bankside Consultants Ltd Tel: +44 (0) 20 7367 8888
Simon Rothschild    
Keith Irons    
Oliver Winters    
Cenkos Securities plc Tel: +44 (0) 20 7397 8924
Ian Soanes    
Adrian Hargrave    


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