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.

 

URANIO

In November 2009, the Company announced that it had acquired 3,000,000 shares of Uranio AG (Frankfurt, Berlin, Stuttgart Stock Exchanges WKN: A0MKD4, UAI) (“Uranio”), a Swiss uranium exploration and development company, from Suphansa Holdings Ltd (“Suphansa”).  The shares acquired from Suphansa represent 1.33% of Uranio’s issued share capital. 

Consideration for the acquisition of Mercator’s stake in Uranio was the placement of 20,000,000 new ordinary shares of Mercator to Suphansa.  Suphansa has agreed to a voluntary escrow of the shares issued to it for a period of 12 months.

Uranio holds a number of uranium licences in the Central African Republic and Argentina which the directors believe to be of strategic value. The management of Mercator are working with the management of Uranio to realise these licences’ value.