ECR is a mineral exploration and development company, incorporated in the UK.

ECR’s wholly owned Australian subsidiary Mercator Gold Australia (MGA) has agreed to acquire 100% ownership of the Avoca and Bailieston gold projects in Victoria, Australia. Mercator Gold Australia is estimated to have tax losses of approximately AUD 66M as at 30 June 2015, which may be available, subject to certain conditions (as described in ECR’s announcement dated 4 December 2014), to reduce MGA’s future taxable profits.

ECR has the right to earn a 50% interest in the Danglay epithermal gold project in the Philippines. Danglay is 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, and is available for download from ECR’s website.

ECR’s wholly owned subsidiary Ochre Mining has a 100% interest in the SLM gold project in La Rioja Province, 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.

 

Statement of changes in equity

 

 

 

 

 

 

 

 

Share capital

£

Share premium

£

Retained losses

£

Other reserves

£

 

Total

£

Balance at 1 July 2008

 

6,267,491

27,182,233

(32,313,752)

722,423

1,858,395

Loss for the period ended 30 June 2009

 

 

 

(3,626,770)

 

(3,589,142)

Attributable share of changes in equity of associated company for the period

 

 

 

 

44,383

44,383

Gain in value of associate following dilution of holding

 

 

 

331,211

 

331,211

Revaluation of investment on ceasing to be an associate

 

 

 

1,022,645

 

1,022,645

Equity portion of Loan note issued in period

 

 

 

 

19,051

19,051

Exchange loss on translation

 

 

 

(4,847)

 

(42,475)

Total recognised income and expense for the period attributable to equity shareholders of the Company

 

 

(2,277,761)

63,434

2,238,637

Issue of shares

 

1,008,500

3,655,612

 

 

4,664,112

Minority interest

 

 

 

327,579

 

317,278

Balance at 30 June 2009

 

7,275,991

30,837,845

(34,263,272)

785,857

4,635,759