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Alan Green CEO of Brand Communications talks hVIVO (HVO) RA International (RAI) Sativa Investments (SATI) on the Vox Markets Podcast

Alan Green CEO of Brand Communications talks about:

hVIVO (HVO)

RA International (RAI)

Sativa Investments (SATI)

(Interview starts at 7 minutes 40 seconds)

Cadence Minerals #KDNC – Director Share Purchases

As announced in December 2017 the Directors all entered into a Defined Director Purchase Programme (“DDPP”) in which they will each purchase £1,000 of ordinary shares per month for 12 months. These shares will be purchased from the market on the first Friday of each month starting on 2nd February 2018 and ending the 4th January 2019. The market will be notified of the purchases on the next trading day via a PDMR; Directors dealing notification.

The Directors have entered into a DDPP in an open period and under this programme are therefore committed to the purchase of shares in what otherwise may be a close period. Entering into the DDPP does not preclude the directors from buying additional shares in the Company during open periods.

Details of the Director purchases are contained in the table below.

Director Position Number of ordinary shares acquired  Price paid per share (pence)
Andrew Suckling Non-Executive Chairman 830,743 0.12
Kiran Morzaria Director & CEO 830,744 0.12
Donald Strang Finance Director 800,000 0.13
Adrian Fairbourn Non-Executive Director 1,666,667 0.12

After these acquisitions, the total notifiable share interest in the Company for the directors is as follows

Director Position  
Andrew Suckling Non-Executive Chairman 6,409,644
Kiran Morzaria Director & CEO 15,502,604
Donald Strang Finance Director 13,100,000
Adrian Fairbourn Non-Executive Director 13,600,539
 Total   48,612,787

 

For further information:

Cadence Minerals plc +44 (0) 207 440 0647
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD & Broker) +44 (0) 207 220 1666
James Joyce
James Sinclair-Ford
Hannam & Partners LLP (Joint Broker) +44 (0) 207 907 8500
Neil Passmore
Ingo Hofmaier
Novum Securities Limited (Joint Broker) +44 (0) 207 399 9400
Jon Belliss

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Andrew Suckling
2 Reason for the notification
a) Position/status Non-Executive Chairman
b) Initial notification/ Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Cadence Minerals PLC
b) LEI 213800TUZWG9C2GRNO58
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument
Identification code
Ordinary Share

GB00B067JC96

b) Nature of the transaction Defined Directors Share Purchase Programme
c) Price(s) and volume(s)
Price(s) Volume(s)
  1. 0.0012
830,743
d) Aggregated information

  • Aggregated volume
  • Price
830,7430.0012
e) Date of the transaction 07/01/2019
f) Place of the transaction XLON, AIM

 

1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Kiran Morzaria
2 Reason for the notification
a) Position/status Director & CEO
b) Initial notification/ Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Cadence Minerals PLC
b) LEI 213800TUZWG9C2GRNO58
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument
Identification code
Ordinary Share

GB00B067JC96

b) Nature of the transaction Defined Directors Share Purchase Programme
c) Price(s) and volume(s)
Price(s) Volume(s)
  1. 0.0012
830,744
d) Aggregated information

  • Aggregated volume
  • Price
830,7440.0012
e) Date of the transaction 07/01/2019
f) Place of the transaction XLON, AIM
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Donald Strang
2 Reason for the notification
a) Position/status Finance Director
b) Initial notification/ Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Cadence Minerals PLC
b) LEI 213800TUZWG9C2GRNO58
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument
Identification code
Ordinary Share

GB00B067JC96

b) Nature of the transaction Defined Directors Share Purchase Programme
c) Price(s) and volume(s)
Price(s) Volume(s)
  1. 0.0013
800,000
d) Aggregated information

  • Aggregated volume
  • Price
800,0000.0013
e) Date of the transaction 05/01/2019
f) Place of the transaction XLON, AIM

 

1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Adrian Fairbourn
2 Reason for the notification
a) Position/status Non-Executive Director
b) Initial notification/ Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Cadence Minerals PLC
b) LEI 213800TUZWG9C2GRNO58
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument
Identification code
Ordinary Share

GB00B067JC96

b) Nature of the transaction Defined Directors Share Purchase Programme
c) Price(s) and volume(s)
Price(s) Volume(s)
  1. 0.0012
1,666,667
d) Aggregated information

  • Aggregated volume
  • Price
1,666,6670.0012
e) Date of the transaction 04/01/2019
f) Place of the transaction XLON, AIM

 

World’s insatiable appetite for batteries sparks multi billion pound lithium mining boom in Australia! Via abcnews

Growing demand for batteries for electric cars and power storage is driving increased investment in lithium mining in Western Australia. WA is currently supplying more than 40 per cent of the world’s lithium and a new mine in the Pilbara is the latest in a string of investments in the industry. The West Australian Government is now encouraging industry to build a battery factory in the state to capitalise on the boom.

Central Victoria gold rush revival continues as ECR Minerals applies for licensing at an additional four sites following Newmont’s application a few weeks ago.

  • Newmont Mining and ECR Minerals join Central Victoria gold rush revival 
  • Fosterville mine in Victoria expected to break production record 
  • Untouched potential in Victoria 
  • ECR Minerals fully funded through to June 2020 following strategic financing round

In recents weeks it was revealed that world’s second largest gold producer Newmont Mining (NYSE:NEM) had applied for the licensing of a large area of land in Victoria, bordering ECR Minerals (AIM:ECR) Bailieston and Moormbool gold projects.

ECR have responded by announcing four new license applications that will expand two of their existing holdings in the Victoria region. These include three strategically placed sites in the Bailieston/Moormbool project area which lie south and south west of the area Newmont recently applied for. It also includes an area that will expand the highly promising Creswick project over a southern portion of the Dimocks Main Shale (DMS) – which is believed to sit between two historically significant mining areas, estimated to have produced 15 million ounces of gold.

For ECR, Newmont’s application to move in next door was without a doubt further encouragement of the huge potential of their existing sites and appears to have encouraged them to move fast and extend licensing in strategic areas in the Victoria region.

ECR CEO Craig Brown said that the application submitted by Newmont bordering Bailieston and Moormbool gold projects “is an important ratification of our strategic Australian gold positioning.”

The presence of Newmont certainly adds weight to the potential prospectivity of the area. Brown added that ECR’s exploration work at Bailieston “has recently demonstrated gold prospectivity as highlighted by the results of our Bailieston sampling programme announced on 28 September 2018 with gold grades up to 67.4g/t.”

Victoria Gold Rush Revival

While the licenses all remain pending, the moves support what appears to be a highly promising revival for gold mining in the Victoria region.

Early this year Melbourne Mining Club chairman Richard Morrow told the The Australian Mining Review “The success of Kirkland Lake Gold at Fosterville has really lifted the profile of Victoria as a place to find gold, especially high-grade, underground mineable gold” (Australian Mining Review). The statement came after an estimated 1.7 million ounces worth approximately $2.85 billion was discovered at the mine in 2017 (Premier).

In November, Kirkland Lake Gold revealed the Fosterville mine located just 30km away from ECR’s Bailieston project had produced “exceptionally high grades”, with the mill grade in Q4

2018 averaging over 35.0 grams per tonne. Fosterville is now expected to break its own record quarterly production in the fourth quarter of 2018, pushing full-year predictions up to 330,000 ounces (Mining.com). Beyond this, it expects to achieve over 500,000 ounces per year by 2020.

Fostervilles ongoing success and the latest applications from ECR and Newmont certainly seem to support Richard Morrow’s statement. If accepted they will continue to push Victoria back into the spotlight amongst gold miners – a position it’s not held since the famous Victoria gold rush in the early 1850s.

Untouched potential in Victoria area

The 1850’s gold rush saw production skyrocket in Victoria as thousands of miners moved to the area after strong mineralisation was discovered in Ballarat in 1851. Levels were so significant that for a number of years gold output in Victoria exceeded that seen anywhere else in the world, bar the more extensive fields of California. Victoria’s greatest yield for one year was in 1856, when 3,053,744 troy ounces of gold were extracted.

However, by the early 1860s most diggers had moved North to New South Wales, then Queensland and across to Western Australia (WA), which now produces the majority of Australia’s gold. Despite this short period of extensive mining the state has still produced over 2,400 tonnes of gold or 32 percent of all the gold mined in Australia and 2 per cent of all the gold ever mined in the world. While WA has produced more, with 3,275.8 tonnes, much of this has been thanks to the booms of the last two decades where new technology has enhanced the discovery and extraction of gold.

WA has also undergone six separate development phases since the 1890s compared to Victoria’s initial rush in the 1850s as well as its current phase. However, contrasted on a yield per area basis, Victoria has an order of magnitude greater than any other Australian state producing an average of 10.8kg of gold / km2. Generating these significant levels of gold in such a period of time, without much of today’s technology would suggest the area remains full of potential – as the recent reports from Fosterville and ECR suggest.

If the old saying ‘the best place to find gold is in the shadow of the headframe of an old mine’ holds true then ECR are ideally placed to make the most of this golden opportunity. As well as Bailieston, they have licences granted in Avoca (EL5387), Timor (EL6278), Moormbool (EL6280) and Creswick (EL6184). As seen on the map above, all of these projects lie within close, if not direct proximity to historical sites known for significant levels of gold mining since the 1850s. These include; Ballarat, which ‘at its peak between 1852-1853 was recognised as probably the richest alluvial goldfield in the world, the Mt Alexander field at Castlemaine which in December 1851 was yielding 23,000 oz of gold a week, Creswick as already highlighted, as well as, Maryborough and Maldon (Earth Resources).

ECR Minerals fully funded through to June 2020

ECR has kicked off 2019 in style, signalling it’s ambitions to become a major Australia gold explorer with the announcement on January 2nd 2019 that it has applied for nine new exploration licences in an area called the Windidda gold project in Yilgarn, Western Australia. The Yilgarn Craton contains evidence of the oldest crust on Earth, and at almost 4km long, 1.5km wide and 500m deep, it’s world-famous Super Pit produces up to 800,000 ounces of gold per year alone.

There appears to be an overwhelming tide of evidence, both current and historical supporting further exploration and development at Central Victoria. While the Newmonts and Fostervilles will continue exploration and production at their own rate, based on the recent reports of high yields and strong yield per area results, it is ECR Minerals with 5 licensed sites and a host of additional plots pending that could be the investment opportunity of the century, and in pole position to capitalise on the untouched potential of Central Victoria. Clearly investors and shareholders think so too: ECR announced a strategic financing round, which together with warrants and shares totalling GBP1.77m will see the company fully funded to pursue operations through to June 2020. Directors Craig Brown and David Tang

both participated in the financing round. Either way, ECR investors could be sitting on a gold mine in the not so distant future.

By Harry Dacres-Dixon

References:

Australian Mining Review – http://australianminingreview.com.au/mining-in-victoria-good-as-gold/ 

Brand Communications – http://www.branduk.net/ecr-minerals-ecr-new-licence-applications-australian-gold-portfolio/

Earth Resources – http://earthresources.vic.gov.au/earth-resources/geology-of-victoria/exhibitions-and-Imagery/ history-mining-victoria

Mining.com – http://www.mining.com/kirkland-lake-golds-aussie-operation-breaks-production-record/ Premier – https://www.premier.vic.gov.au/bendigos-billion-dollar-gold-rush/

Value the markets – http://www.valuethemarkets.com/index.php/2018/11/15/exclusive-newmont-mining-secures-li cense-area-next-ecr-minerals-baileston-gold-project/

Geology for Investors – https://www.geologyforinvestors.com/gold-archean-greenstone-belts/

Kirkland Lake Gold – https://www.klgold.com/news-and-media/news-releases/default.aspx

Other companies http://kzr.com.au/wp-content/uploads/austocks/kzr/2018_06_20_KZR_1529488920.pdf

Vox Markets Podcast: Craig Brown CEO of ECR Minerals (ECR) and Alan Green on (ITX) (DEST) and (ECR)

Craig Brown, Chief Executive Officer of ECR Minerals #ECR discusses their nine new exploration licence applications in the Yilgarn region of Western Australia.

Alan Green CEO of Brand Communications talks about: Itaconix #ITX Destiny Pharma #DEST ECR Minerals #ECR

(Interview starts at 6 minutes 27 seconds)

Volkswagen to spend $50 billion on electric car ‘offensive’ – via Mining.com – Cadence Minerals (KDNC)

German automaker Volkswagen said Friday it will spend tens of billions of dollars refocusing the company on the making of electric cars, autonomous vehicles and new mobility services.

The Wolfsburg-based manufacturer, which plans to have some of the new offering in the market by 2023, said the 44-billion euro ($50 billion) investment in what CEO Herbert Diess describes as an “electric offensive,” includes an imminent partnership with US carmaker Ford Motor.

Both companies are fine-tuning details on a deal to jointly make a range of light commercial vehicles, and Dess hopes the agreement will be ready before the end of the year.

Collaboration between the two firms is viewed as a path to significant savings on research and development, while at the same time delivering big revenue.

Ford makes about 40% of all full-size pickups sold in the US, while VW sells almost 15% of the vehicles purchased in China, the world’s largest auto market.

“Volkswagen must become more efficient, more productive and more profitable in order to finance the high expenditure in the future and in order to stay competitive,” Diess said during the press conference.

He noted that Volkswagen was also “seriously considering involvement in battery production.”

One million e-cars

VW has been actively promoting the electric push by creating global production capacities for the construction of 1 million electric cars. On Wednesday, it announced it was converting three of its plants in Germany to build electric cars, ramping up production of zero-local emission cars ahead of tougher European emissions standards.

The company said it would begin local production of electric-powered vehicles at its facilities in Emden and Hannover in 2022, adding that a plant in Zwickau has already been designated for e-car production.

Recent studies show carmakers will need to add electric cars to their sales lineups to meet the new European Union rules on greenhouse gas emissions from 2021. They also highlight how German carmakers need to rethink their business as the growing adoption of electric vehicles (EVs) is expected to cost the country’s key auto industry about 75,000 jobs by 2030, according to a report carried out by the Fraunhofer Institute of Industrial Engineering.

Those figures, the institute said,  were calculated on the assumption that by 2030, a quarter of all vehicles on Germany’s roads will be fully electric. Another 15% is expected to be hybrids, which combine an electric motor with a traditional internal combustion engine, and 60% of the cars will be powered by gasoline or diesel engines that are more fuel-efficient than today.

A more rapid adoption of electric vehicles could threaten up to 100,000 jobs, the study warned, adding that regardless of the final number, there will be suppliers that simply won’t be able to adapt their business model, especially among small- and medium-sized companies.

While relatively slow to catch onto the ongoing EV boom, German carmakers have stepped up their efforts in the wake of VW’s 2015 “diesel gate” emissions cheating scandal, which tainted the reputation of diesel cars and spurred a push towards more environmentally friendly engines.

BMW recently said raw materials needed for car batteries will grow 10-fold by 2025, adding it has been surprised by “just how quickly demand will accelerate”. BMW plans to offer 25 electrified vehicles by 2025 and, like many of its peers, it prefers nickel-manganese-cobalt batteries or NMC. EV pioneer Tesla’s favoured battery technology –nickel-cobalt-aluminum or NCA – already uses less than 3% cobalt.

ECR Minerals (ECR) – Strategic Gold Licence Applications – Yilgarn Region Australia

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce that the Company has submitted nine new exploration licence applications covering a package of ground prospective for gold mineralisation in the Yilgarn region of Western Australia.

The application package is to be called the Windidda gold project and will, when granted, complement ECR’s existing extensive gold exploration portfolio in the state of Victoria, Australia.

Highlights:

  • Nine new exploration licence applications have been lodged in Western Australia by ECR’s 100% owned Australian operating vehicle Mercator Gold Australia Pty Ltd, covering 523 graticular blocks representing approximately 1,600 square kilometres of the Yilgarn Craton east of the town of Wiluna;

 

  • The application areas have been identified as a potential greenstone hosted orogenic gold exploration opportunity with significant potential to contain Archaean greenstones buried beneath what it is believed may be shallow cover. Archaean greenstones host many of Western Australia and the world’s most prolific gold deposits;

 

  • Previous exploration within the project area has targeted base metal and manganese deposits within the cover sequences. Gravity and magnetic anomalies interpreted to be hosted in greenstone units beneath the cover have not been targeted;

 

  • Target areas are expected to be amenable to aircore drilling across gravity-magnetic anomaly targets to enable rapid assessment of potential for gold mineralisation;

 

  • Licence applications cover a significant proportion of an identified gravity-magnetic trend with known gold prospects along trend in outcropping greenstone to the south (not ECR ground);

 

  • The under-cover greenstone gold exploration model has been successfully tested by Greatland Gold (LON:GGP) at their Ernest Giles project located approximately 125 kilometres east of ECR’s Windidda Project;

 

  • Further information to follow in respect of the application area and the exploration potential of the Windidda Gold Project;

 

  • In addition to the Windidda applications, ECR has an extensive pipeline of potential new opportunities, some of which are under due diligence review.  Further updates will be provided to the market as and when material developments occur.

 

Craig Brown, Chief Executive Officer of ECR Minerals plc, commented: “I am particularly pleased to announce this strategic move into Western Australia, which, like Victoria, has exceptional gold exploration potential in a first world operating environment.

Greenstone-hosted gold trends in the Western Australian Yilgarn province are very tightly held and access to free ground, when it becomes available, is highly competitive. So it is very encouraging that ECR has managed to compile a large land position of contiguous tenements covering untested gravity-magnetic anomalies representative of potential greenstone-hosted gold trends.

The funds secured by ECR in the strategic financings of July and December 2018 have enabled us to continue engaging aggressively with potential new initiatives, the Windidda project being one.  

We are acquiring new ground in Australia at a time when many explorers and developers are financially weakened by market conditions.  This, although unfortunate for the wider resource sector, is presenting ECR with multiple highly attractive options, and we intend to take full advantage.

Our work continues at pace and I look forward to updating our shareholders further with additional new developments in the near term.”

COMPETENT PERSON STATEMENT

Information disclosed in this announcement has been reviewed by Samuel Garrett, a Competent Person within the meaning of Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) and for the purposes of the AIM Rules.

Mr Garrett holds a BSc (Hons) in Geology and an MSc in Economic Geology from the University of Tasmania. He is a member of the Australian Institute of Geoscientists and a member of the Society of Economic Geologists (USA).

MARKET ABUSE REGULATIONS (EU) No. 596/2014

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc   Tel: +44 (0)20 7929 1010
David Tang, Non-Executive Chairman
Craig Brown, Director & CEO
Email:

info@ecrminerals.com

Website: www.ecrminerals.com
 
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
Katy Mitchell/James Sinclair-Ford
 
SI Capital Ltd Tel: +44 (0)1483 413500
Broker
Nick Emerson
 

ABOUT ECR MINERALS PLC

ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, Australia.

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 and is available for download from ECR’s website.

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.

 

Andalas Energy and Power Plc (ADL) – Update on Eagle Gas investment

Andalas Energy and Power plc is pleased to provide the following update on its investment in Eagle Gas Limited.

 

  • The OGA has agreed a 5 month extension of the initial term of licence P2112 to 19 May 2019.
  • Under the terms of the extension, the licence holder must:
    • By no later than 31 March 2019, advise the OGA that it either: (i) has elected to drill one well to 3800m or 100m into the Namurian (whichever is the shallower) and approved the necessary funding for the well commitment; or (ii) elected to terminate the licence;
    • Provide the results of two G&G studies to the OGA by 1 March 2019 together with a conclusion as to whether the results of these studies support a drill decision; and
    • Provide an update to the OGA by 1 March 2019 on all pre-drill decision work.
  • Operator to undertake an additional technical assessment of the Ketch gas prospect after a third-party review concluded that there may be additional gas potential in the Ketch.
  • Identification of additional gas potential in the Ketch may inform the licence holders’ decision on the optimal location of an exploration well on the licence.
  • Eagle Gas Limited has the funds available to complete the additional work programme.

Simon Gorringe, CEO of Andalas Energy and Power PLC said, “We are pleased that the Badger licence has been extended.  It enables the operator, Holywell Resources Ltd, and Atlantic Petroleum UK Limited to complete further work and optimise the technical and commercial appraisal and development plans.”

Andalas is the owner of a 25% interest in Eagle Gas Limited that is itself the 100% owner of Holywell Resources Limited, which owns a 66 2/3% interest in licence P2112 (“the licence”).  Atlantic Petroleum UK Limited owns a 33 1/3% interest in the licence.  The licence contains the Badger prospect which contains a significant resource which was the subject of the Company’s announcement of 20 August 2018.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (‘MAR).  Upon the publication of this announcement via a Regulatory Information Service (‘RIS’), this inside information is now considered to be in the public domain.

For further information, please contact:

Simon Gorringe Andalas Energy and Power Plc Tel: +62 21 2965 5800
Roland Cornish/ James Biddle Beaumont Cornish Limited
(Nominated Adviser)
Tel: +44 20 7628 3396
Colin Rowbury Novum Securities Limited
(Joint Broker)
Tel: +44 207 399 9427
Christian Dennis Optiva Securities Limited
(Joint Broker)
Tel: +44 20 3411 1881
Stefania Barbaglio Cassiopeia Services Limited                                       (Public Relations) Stefania@cassiopeia-ltd.com

ECR Minerals (ECR) – Strategic Financing and Business Update

ECR Minerals plc (LON:ECR) the precious metals exploration and development company is pleased to announce details of a strategic financing and business update for shareholders.

Highlights:

  • ECR Minerals has secured a strategic financing raising £680,000 through the issue of 97,142,857 new ordinary shares at 0.70p per share (“Financing Shares”);
  • Allowing for the existing cash at bank and the funds raised today, ECR has sufficient working capital against enhanced operational plans, until at least Q2 2020;
  • Each strategic financing share has a warrant attaching to subscribe for a further new ordinary share in ECR Minerals plc at a price of 1.125p within two years of the admission date of the above financing shares resulting in the issue of 97,142,857 1.125p warrants;
  • Should all warrants be converted this financing would generate in excess of £1.77m before expenses for the Company;
  • In addition, the directors of the Company (David Tang and Craig Brown) would like to subscribe a combined total of £20,000 in addition to the above on the same terms as the Placing, subject to the outcome of regulatory approval. A further announcement will be made if they proceed;
  • Should the 5 day volume weighted average share price (“VWAP”) of ECR exceed 5.0p (five pence) the Company will have the right to accelerate conversion of any outstanding warrants;
  • The additional funds raised will be primarily applied to expansion of Australian operations including:
    • Additional extensive exploration programmes at the Company’s gold projects in Victoria Region;
    • This will include 4,000 metres of reverse circulation drilling at Blue Moon, Creswick and Black Cat prospects and 1,400 metres of scout drilling at Avoca prospect;
    • Review and due diligence of new corporate acquisition or business development opportunities in strategic and precious metals in Victoria and elsewhere in Australia.
  • Further updates to the market will be provided in the near term regarding the above Australian operational activities. In addition, following a further positive board visit to Argentina just completed, the Company expects to provide an update on Argentinian activities and opportunities, early in the new year.

Craig Brown, Chief Executive Officer of ECR Minerals plc, commented: “I am pleased to announce this additional financing which adds to the money raised in July and considerably bolsters our balance sheet working capital at a key time for the ECR business.

Market conditions in the resource sector have been challenging in the latter half of 2018, for companies of our size and we believe the ability to source additional financing at this time is a validation of our business model and plans.

ECR is in a financially robust position and can now push ahead with exploration and development across the business. In this regard ECR has a portfolio of projects in Australia which have yielded highly positive exploration results during our 2018 work programmes and deserve a proactive exploration approach.

We believe our gold interests in Victoria region in Australia have been validated by the large licence application submitted by Newmont Mining Pty Limited adjacent to our Bailieston and Moormbool projects. Moreover work at our Creswick project has revealed, through exploration mapping, a large gold system with exciting potential.

We have added additional ground with complementary licence applications recently announced, and we have more opportunities for new licences and new corporate activity to further bolster our business. The extent of our new opportunity pipeline is such that we are taking time to carefully select the primary opportunities.

Notwithstanding challenging conditions of late and what we perceive to be a general retrenchment in activity across the resource sector due to funding limitations, shareholders in ECR can be assured that the Company is well financed and operationally active, and we look forward to updating shareholders in due course on our activities.”

FURTHER INFORMATION

STRATEGIC FINANCING

ECR has secured a strategic financing raising £680,000 through the issue of 97,142,857 new ordinary shares at a price of 0.70p per share to support proactive development of its existing interests and to enable the Company to engage with new opportunities, principally in respect of Australian gold and strategic metal exploration.

Each strategic financing share has a warrant attaching to subscribe for a further new ordinary share in ECR Minerals plc at a price of 1.125p within two years of the admission date of the above financing shares. Should the 5 day VWAP of ECR exceed 5p, the Company will have the right but not the obligation to accelerate the remaining warrants by issuing a 7 day notice of accelerated exercise to warrant holders. Any warrants not exercised after the 7 day notice period would lapse.

In addition, the directors of the Company (David Tang and Craig Brown) have indicated they would like to subscribe a combined total of £20,000 in the Placing, subject to regulatory confirmation. A further announcement will be made if they proceed.

ADMISSION OF STRATEGIC FINANCING SHARES AND TOTAL VOTING RIGHTS

Admission is expected to occur on or around 21 December 2018. Following Admission of the Financing Shares, ECR’s issued ordinary share capital will comprise 442,983,640 ordinary shares of 0.001 pence. This number will represent the total voting rights in the Company, and, following admission of both the placing and subscription shares, may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules. The new shares will rank pari passu in all respects with the ordinary shares of the Company currently traded on AIM.

COMPETENT PERSON STATEMENT

The information in this announcement that relates to Exploration Results is based on information compiled by Dr Rodney Boucher of Linex Pty Ltd. Linex Pty Ltd provides geological services to Mercator Gold Australia Pty Ltd, including the services of Dr Boucher, who has a PhD in geology, is a Member and RPGeo of the Australian Institute of Geoscientists and is a Member of the Australian Institute of Mining and Metallurgy. Dr Boucher has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr Boucher consents to the inclusion in the announcement of the material based on his information in the form and context in which it appears.

ABOUT ECR MINERALS PLC

ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, Australia.

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 and is available for download from ECR’s website.

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.

MARKET ABUSE REGULATIONS (EU) No. 596/2014

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc Tel: +44 (0)20 7929 1010
David Tang, Non-Executive Chairman
Craig Brown, Director & CEO

Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
Katy Mitchell/James Sinclair-Ford
SI Capital Ltd Tel: +44 (0)1483 413500
Broker
Nick Emerson

FORWARD LOOKING STATEMENTS

This announcement may include forward looking statements. Such statements may be subject to numerous 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 because of new information, future events or for any other reason.

Share Prophets: Catenae Innovation (CTEA) – first blockchain contract & product updates, remains a buy

Catenae Innovation (CTEA) has announced a first contract for a solution utilising its blockchain technology and updated on its such technology and announced a product launch…

The contract is with a UK-based security company and a customer since 2013, STM Security UK Ltd. It is for OnGuard Plus,“with the ability to store critical and regulatory reports in an immutable form within the Sequestrum repository providing auditable proof of both the existence of the report as well as its original content”.

Sequestrum is Catenae’s Distributed Ledger technology digital repository – for which it has recently completed final testing on the ‘Hyper Ledger Blockchain platform’. It noting this “opens up the opportunity for Sequestrum to be run on the client’s choice of Blockchain platform, significantly broadening its potential application”. The product launch is OnSite – a management and inspection platform… developed specifically for the construction industry”. It is added “the integration of Sequestrum ensures that inspection reports are stored in an immutable form directly from the mobile input device, recording the geo-coordinates of the device and centralised timestamping as meta data for full auditability”.

On the contract, it is stated “revenue is generated via an annual ‘in advance’ licence fee as well as a transaction fee on a ‘per report’ basis”, though there’s no financial specifics. However, it is added “we hope to make further announcements on further commercial agreements in the near future”– and there is clear positive operational momentum here.

However, the shares are still only slightly ahead of our prior update – and meaning a market cap of still only circa £3 million. With the suggested operational progress indeed looking to be following the financial strengthening, we continue to consider a share price around 0.20p a realistic target – and our stance remains buy.


HotStockRockets Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

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