ECR Minerals plc Directorate Change
August 03 2016 - 4:20AM
UK Regulatory
TIDMECR
AIM: ECR
US OTC: MTGDY
ECR MINERALS plc
("ECR Minerals", "ECR", the "Company" or the "Group")
DIRECTORATE CHANGE
LONDON: 3 AUGUST 2016 - The directors of ECR Minerals plc (the
"Board") announce the resignation of Stephen Clayson as a director
and as CEO of the Company. Mr Clayson's resignation will be
effective 31 August 2016, to allow time for an orderly handover of
responsibilities.
The Company wishes to point out that the three remaining
directors, Richard Watts, Craig Brown and William Howell, have many
years of public company and mining industry experience. The Board
expects to provide operational updates regarding the Company's
activities in Australia later this month.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
ABOUT ECR
ECR is a mineral exploration and development company. 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. This is considered particularly
significant in view of an opportunity which may exist at Avoca to
establish relatively near term gold production from the
reprocessing of historical mine dumps, with the potential for sale
of gravel and sand by-products. A competent person's report in
relation to the Avoca and Bailieston projects is available for
download from ECR's website.
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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
ECR Minerals plc Tel: +44 (0)20 7929 1010
William (Bill) Howell, Non-Executive Chairman
Stephen Clayson, Director & CEO
Craig Brown, Finance Director
Richard (Dick) Watts, Non-Executive
Technical Director
Email: info@ecrminerals.com
Website: www.ecrminerals.com
Cairn Financial Advisers LLP Tel: +44 (0)20 7148 7900
Nominated Adviser
Emma Earl / Jo Turner
Vicarage Capital Ltd Tel: +44 (0)20 3651 2910
Broker
Rupert Williams / Jeremy Woodgate
Blytheweigh Tel: +44 (0)20 7138 3204
Public Relations
Tim Blythe / Camilla Horsfall
FORWARD LOOKING STATEMENTS
This announcement may include forward looking statements. Such
statements may be subject to a number of known and unknown risks,
uncertainties and other factors that could cause actual results or
events to differ materially from current expectations. There can be
no assurance that such statements will prove to be accurate and
therefore actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward looking statements. Any
forward looking statements contained herein speak only as of the
date hereof (unless stated otherwise) and, except as may be
required by applicable laws or regulations (including the AIM Rules
for Companies), the Company disclaims any obligation to update or
modify such forward looking statements as a result of new
information, future events or for any other reason.
View source version on businesswire.com:
http://www.businesswire.com/news/home/20160803005596/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
August 03, 2016 04:20 ET (08:20 GMT)
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