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.

 

OUTLOOK

All of Mercator’s projects have the capacity to deliver attractive returns, and some have already begun to do so. Drawing on the expertise and experience of its directors, staff and advisers, the Company will continue to develop its investments during the course of the next year, as well as acting to take advantage of new opportunities where appropriate. The Company successfully raised additional capital following the period end and presently has in excess of £1.5 million in cash and liquid assets.

Patrick Harford

Managing Director

For further information please contact:

Mercator Gold plc Tel: +44 (0) 20 7929 1010
Patrick Harford, Managing Director   +1 646 239 9087
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Bankside Consultants Ltd Tel: +44 (0) 20 7367 8888
Simon Rothschild    
Oliver Winters    
   
   
   
Cenkos Securities plc    
Beth McKiernan Tel: +44 (0) 20 7397 8900
     
     
     
     
Old Park Lane Capital PLC    
Forbes Cutler Tel: +44 (0) 20 7518 2603
Director of Corporate Broking    
     
     
     
     
Barry Kaplan Associates Tel: +1 732 747 0702
Larry Kaplan