#ORPH Open Orphan Plc – Positive results from Flu Human Challenge Study
Open Orphan plc (AIM: ORPH) a rapidly growing specialist pharmaceutical services clinical research organisation (CRO) and world leader in vaccine and antiviral testing using human challenge clinical trials, notes the announcement released from SAB Biotherapeutics (NASDAQ: SABS) (“SAB”), reporting positive results from a human challenge study testing SAB-176, its investigational therapeutic for the treatment of seasonal influenza. hVIVO, a subsidiary of Open Orphan, conducted the Phase 2a randomised, double-blinded, placebo-controlled study using its Influenza Human Challenge Study Model.
The trial evaluated the safety and treatment efficacy of SAB-176 in 60 healthy adults challenged with a pandemic influenza strain (pH1N1). Participants were intranasally inoculated with the influenza challenge virus and then randomised to receive either SAB-176 or placebo.. SAB-176 achieved statistically significant (p = 0.026) reductions in viral load. Based on partial data, statistically significant reductions in clinical signs and symptoms compared to placebo were also observed. Additionally, no serious adverse events were reported and SAB-176 appeared to be safe and well tolerated. Based on the positive results from this study, SAB plans to further evaluate SAB-176 in a Phase 2 influenza clinical trial.
Flu is caused by the influenza virus and is one of the most common infectious respiratory diseases and can lead to severe illness, and death. There are four types of seasonal influenza viruses, types A, B, C and D. Influenza A and B viruses circulate and cause seasonal epidemics of disease. According to the World Health Organisation (WHO), worldwide, these annual epidemics are estimated to result in about three to five million cases of severe illness, and about 290 000 to 650 000 respiratory deaths.
hVIVO has two decades of experience and expertise in safely conducting challenge studies across a range of respiratory and infectious disease viruses, including respiratory syncytial virus (RSV), Influenza, human Rhinovirus HRV (common cold virus), malaria, and asthma. In October 2020, this expanded to include the SARS-CoV-2 virus.
Cathal Friel, Executive Chairman of Open Orphan, said : “I am pleased that SAB has received positive results for SAB-176 from its influenza human challenge trial, conducted by hVIVO. SAB-176 met its primary endpoint and based on partial data appears to have met a key secondary endpoint. These encouraging results support proceeding to a Phase 2 clinical trial.
“Influenza affects a significant proportion of the global population every year with symptoms ranging from mild to severe, with hospitalisations and deaths occurring among high-risk groups. hVIVO has successfully been delivering Influenza human challenge trials for over two decades, and we look forward to continuing to support Big Pharma and biotechs to provide early proof-of-concept for novel vaccines and antivirals.”
Mariya Kalinova, Medical Director, hVIVO, commented: “We are delighted to see these positive results from the Phase 2a Influenza Human Challenge Study for SAB Biotherapeutics’ novel anti-influenza human immunotherapy, SAB-176. The encouraging reductions in viral load and clinical symptoms, along with the promising safety and tolerability data observed in this challenge study suggest SAB-176 may have a positive impact on individuals with influenza.
“This successful study demonstrates the way that Phase 2a challenge studies can help advance drug development and provide a value inflection point for innovative products such as SAB-176 as they move towards a full Phase 2 study. Moving forward, we expect to see an increase in the number of human challenge studies taking place across multiple infectious diseases, as interest in these disease areas continues to grow.”
For further information please contact:
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Open Orphan plc |
+353 (0) 1 644 0007 |
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Cathal Friel, Executive Chairman |
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Arden Partners plc (Nominated Adviser and Joint Broker) |
+44 (0) 20 7614 5900 |
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John Llewellyn-Lloyd / Louisa Waddell |
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finnCap plc (Joint Broker) |
+44 (0) 20 7220 0500 |
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Geoff Nash / James Thompson/ Richard Chambers |
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Davy (Euronext Growth Adviser and Joint Broker) |
+353 (0) 1 679 6363 |
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Anthony Farrell |
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Walbrook PR (Financial PR & IR) Paul McManus/ Sam Allen / Louis Ashe-Jepson |
+44 (0)20 7933 8780 or openorphan@walbrookpr.com +44 (0)7980 541 893 / +44 (0) 7502 558 258 / +44 (0) 7747 515393 |
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#POLB Poolbeg Pharma – Poolbeg signs option for new vaccine candidate
6 December 2021 – Poolbeg Pharma (AIM: POLB), ‘Poolbeg’ or the ‘Company’, a clinical stage infectious disease pharmaceutical company with a capital light clinical model, has signed an Option Agreement to licence MelioVac, a vaccine for melioidosis, with University College Dublin (‘UCD’) and its inventor, Associate Professor Siobhán McClean , through NovaUCD, the university’s knowledge transfer office.
The Company will continue its due diligence on MelioVac, a preclinical asset and recipient of a Wellcome Trust Award to aid its development, as well as 5 of other potential vaccine candidates discovered by Associate Professor McClean and her team, for the duration of the Option Agreement, prior to signing a ‘Licence Agreement’.
Dr McClean is Associate Professor and Head of Biochemistry at the UCD School of Biomolecular and Biomedical Science. Dr McClean completed her BSc in Biochemistry in UCD and received her PhD from Imperial College London. Her research focuses on lung infections which led her to develop a platform technology to identify proteins that bacteria use to attach to human cells. These proteins have proved to be excellent vaccine candidates. Dr McClean completed some of the original research to identify the antigens associated with the Melioidosis Vaccine at TU Dublin.
Poolbeg Pharma has identified melioidosis as an infectious disease of interest due to its rising incidence around the world and because there is currently no approved vaccine available. Concerns are growing about global warming contributing to the spread of the disease to traditionally non-tropical areas.
Melioidosis, also known as Whitmore’s disease, is an infectious disease caused by the bacterium Burkholderia pseudomallei, commonly found in the soil and surface groundwater of many tropical and subtropical regions, with diverse clinical presentations including pneumonia and severe sepsis with multiple organ abscesses. Incidence of the disease is widespread in South-East Asia, Northern Australia and India, with climate change having a substantial impact on the spread of the disease to new areas such as Brazil. There are an estimated 165,000 cases of melioidosis each year, of which as many as 89,000 (54%) are estimated to be fatal.
Other potential vaccine candidates that the Company is evaluating include those for Klebsiella pneumoniae,Escherichia coli (O157), Burkholderia cepacia complex, Pseudomonas aeruginosa and Acinetobacter baumannii.
Jeremy Skillington, PhD, CEO of Poolbeg Pharma, said:
“Melioidosis offers Poolbeg an opportunity to expand our portfolio of infectious disease assets, as promised at IPO. This is a disease which presents a dangerous and underappreciated threat to human health which currently has no approved vaccine and a very high mortality rate. If we can take MelioVac through clinical development to Phase II ready, it has the potential to generate significant returns for investors in the short-term while contributing to the global response to the threat of infectious diseases with an unmet medical need. We are excited by the potential of the MelioVac opportunity along with the other vaccine candidates in the UCD portfolio.”
Siobhán McClean, Associate Professor at the UCD School of Biomolecular and Biomedical Science and inventor of MelioVac , said:
“We are passionate about developing a vaccine against Melioidosis. Poolbeg Pharma is a great potential partner to work with, bringing its experience of vaccine development and industry connections to our innovative science. On the basis that a license is taken, it would be a great to see the development of MelioVac and other candidates, and contribute significantly to the world’s renewed fight against infectious diseases.”
– Ends –
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 (as implemented into English law) (“MAR”). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
Enquiries
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Poolbeg Pharma Plc Jeremy Skillington, CEO Ian O’Connell, CFO
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+353 (0) 1 644 0007 |
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finnCap Ltd (Nominated Adviser & Joint Broker) Geoff Nash, James Thompson, Charlie Beeson, Richard Chambers, Sunila de Silva (ECM)
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+44 (0) 20 7220 0500 |
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Arden Partners PLC (Joint Broker) John Lewellyn-Lloyd, Louisa Waddell
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+44 (0) 207 614 5900 |
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J&E Davy (Joint Broker) Anthony Farrell, Niall Gilchrist
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+353 (0) 1 679 6363 |
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Instinctif Partners Melanie Toyne Sewell, Rozi Morris, Tim Field |
+44 (0) 20 7457 2020 poolbeg@instinctif.com |
Quoted Micro 6 December 2021
AQUIS STOCK EXCHANGE
Hydrogen Future Industries (HFI) was set up to make investments in the hydrogen sector. It raised £2.23m at 10p a share. This will finance the investigation of investment opportunities.
Field Systems Design Holdings (FSD) reported a lump in revenues from £19.8m to £9.98m in the year to May 2021, due to Covid-related problems. This meant that the mechanical and electrical design company moved into loss. The AMP7 water sector investment programme did not start as expected. Other projects have also been delayed, but power generation and transport infrastructure business held up better than the water business, which continues to be delayed. Field Systems Design is also being more selective about energy from waste projects. There was £6m in cash at the end of May 2021.
EPE Special Opportunities (ESO) is investing €10m in the €150m offer by new SPAC EPIC Acquisition Corp, which will be listed on Euronext Amsterdam. The target company would be involved in the consumer sector. EPE has published a prospectus for the issue of up to 20 million zero dividend preference shares at 100p each.
Capital for Colleagues (CFCP) has concluded a partial disposal of its investment in TPS Investment, which distributes pipes and valves. There was an initial £200,000 and £121,000 will be received from a share buyback about the company. That leaves a stake in TPS valued at £510,000.
Aquis Stock Exchange-quoted non-fungible tokens (NFTs) investor NFT Investments (NFT) has swapped its £500,000 investment in Kodoku Studios for a 3% stake in Pioneer Media (PNER) valued at £2m and £125,000 in cash. Mike Edwards is a director of NFT and Pioneer. NFT has invested $1m in NFT Studios Ltd in return for a 20% stake.
Watchstone Group (WTG) has filed a claim against KPMG totalling £13.73m plus interest. This relates to the audit of the 2013 accounts of the company, then known as Quindell. These accounts were restated and the FRC fined and reprimanded KPMG.
Quetzal Capital (QTZ) has invested £1.5m in a convertible loan to TAP Global Ltd and it has an option to acquire 100%. TAP Global is a regulated (by the Gibraltar Financial Services Commission) Crypto-Fiat exchange services provider, which plans to provide a bridge between traditional and crypto assets. TAP Global is already generating revenues.
Altona Rare Earths (ANR) has completed the 2021 drilling programme at the Mozambique Monte Muambe project. Chief executive Christian Taylor-Wilkinson bought 66,560 shares at 11.3p each and he owns 6.3% of the company.
South Africa-based social impact company Inqo Investments Ltd (INQO) raised cash from selling land and this has strengthened the balance sheet. Inqo continues to lose money.
Belvedere Leisure (BL03) has taken control of the 160 acre Barnsoul caravan park, which was near to full capacity during the peak season. Development of the park is continuing ahead of a reopening next spring.
Evrima (EVA) has elected to maintain its project level interest of between 8.86% and 9.26% in the Molopo Farms complex. Kavango Resources (KAV) is exercising its option to take a stake of more than 50%.
Dispersion Holdings (DEFI) has launched a new platform called AQRU, which is a platform that enables institutional investors simple access to crypto yields available in DeFi. Recently purchased Accru Finance developed AQRU, which will not be open to UK-based investors until it is approved by the FCA.
Fuel additives supplier SulNOx Group (SNOX) has signed a distribution agreement with LocoSoco Group.
MiLOC Group Ltd (ML.P) has raised £23,000 at 28.5p a share.
Slater Investments has increased its stake in Arbuthnot Banking (ARBB) from 3.05% to 5.15%.
Rogue Baron (SHNJ) managing director Ryan Dolder bought 32,477 shares at 12p each and 58.827 shares at 9.5p each, taking his stake to 10.5%.
Sativa Wellness (SWEL) has appointed Arden as corporate adviser. It hopes that the broker can help to improve the share price.
AIM
Battery technology developer Gelion (GELN) raised £16m at 145p a share when it joined AIM. The share price has soared to 265p. Australia-based Gelion is a zinc-bromide battery storage technology developer. It is also developing battery additives for use in lithium-ion and lithium-sulfur batteries. Gelion Endure zinc-bromide batteries are suited for harsh environments and the non-flow zinc-bromide technology means that they can be smaller than rival lithium-ion and lead-acid technologies and are recyclable. The cash will be used to accelerate development spending.
Skillcast Group (SKL) provides content and software to companies for their training and compliance requirements. Skillcast has joined AIM to raise further cash to invest in cloud technology and training content. It raised £3.5m in a placing at 37p a share and the share price ended the week at 43p. Revenues are generated from professional services and SaaS subscriptions and the main growth comes from the latter. There were annual recurring revenues of £5.06m at the end of June 2021. Clients include Schroders and GKN. The shares are tightly held.
A trading statement from franchised lettings and estate agency Belvoir Group (BLV) led to a 3% upgrade in forecast 2021 earnings to 20.3p a share.
IPTV technology developer Mirada (MIRA) grew interim revenues by 10% to $6m thanks to increasing installations for izzi Telecom. Mirada has buit up a 5% global share of the Android TV market. The increasing use of resellers in different regions of the world should help Mirada to grow more quickly than it could relying on direct sales. There was a recent partnership agreement with North America-focused Shift 2 Stream.
Vector Capital (VCAP) says 2021 revenues and pre-tax profit will be better than expected.
Interim revenues of Coral Products (CRU) were 58% ahead at £7.1m and pre-tax profit improved from £494,000 to £698,000. The interim dividend is 0.5p a share. Plastic lotion pumps supplier Global One-Pak was hit by the ill-health of its boss and problems importing from China, but trading is improving.
Human capital services provider Mind Gym (MIND) increased its interim revenues by two-thirds to £24.1m and it returned to profit. Revenues are back to the levels in the first half of 2019, although the profit is much lower. Digital revenues account for 81% of the latest revenues.
Online fashion retailer Sosandar (SOS) nearly trebled its interim revenues, helped by maintaining high stock levels following the fundraising earlier this year. Strong trading, both from the company’s website and through third parties, continues to be strong. October was a record month and November was even better. The full year revenues forecast has been raised by 11% to £27.1m. Sosandar could move into profit next year.
Cenkos has upgraded its free cash flow forecast for Duke Royalty (DUKE) following the latest interims. It is expected to be 2.3p a share, which will cover the forecast dividend of 2.2p a share. There is a record deal pipeline
Lekoil Nigeria is offering to acquire the 60% of Lekoil Ltd (LEK) that it does not own for double the suspension price of 0.95p or for a share exchange.
MAIN MARKET
Guernsey-registered technology shell Hambro Perks Acquisition Company Ltd (HPA1) raised £140m through a placing at 1000p per unit (one public share and 0.5 of one public warrant). The price went to premium and fell back to 1000p. An attractive market, innovative product or service, scalability and strong management will be required in any target. The target business would be valued at £800m or more. The Hambro Perks Ltd advisory business has expertise in investing in early-stage technology businesses and could have potential targets in its funds.
Town Centre Properties (TOWN) maintained its underlying NAV at 284p a share. Net debt was reduced to £145.6m and LTV is 51.3% at the end of June 2021. The full loss was significantly reduced, although there was cash generated from operations. The final dividend is 1.75p a share, taking the total for the year to 3.5p a share, down from 5p a share.
Telecoms services provider Toople (TOOP) is raising £380,000 at 0.045p a share. The previous placing was at 0.11p a share during October 2020.
Rebel shareholders in beverages supplier East Imperial (EISB) have withdrawn their general meeting requisition following the appointment of Alistair McGeorge as chairman and Colin Henry as a non-exec. Rabindra Lal Soni has resigned as chairman.
Andrew Hore
Alan Green covers Conroy Gold #CGNR and Technology Minerals #TM1 on this week’s Stockbox Research Talks
Alan Green covers Conroy Gold #CGNR and Technology Minerals #TM1 on this week’s Stockbox Research Talks
#TM1 Technology Minerals – UK EV battery recycling hots up with Technology Minerals
15 years from now, it is estimated there will be some 250,000 tones of spent EV battery packs, and they all have to go somewhere.
Thankfully, EV batteries aren’t nuclear waste; we can recycle them to extract raw materials and reuse those materials to make more batteries.
Like the plastic trays and milk bottles you throw in the bin, used EV batteries are recycled to separate the useful minerals from the chaff. This not only reduces our dependency on virgin materials but slashes carbon emissions in the supply chain.
The recycling process shreds the EV batteries, creating a black mass, which consists of high amounts of lithium, manganese, cobalt, and nickel metals. Those metals are refined further to create a fresh supply of rare and uncommon metals.
Battery recycling for electric vehicles includes both the main battery pack and the 12V battery, which can be lead-acid or lithium-ion.
The ultimate goal is to create a closed-loop manufacturing process. In November, Northvolt announced the world’s first 100% recycled EV battery.
UK EV battery recycling
In the UK, battery recycling facilities are relatively common, but facilities that recycle EV batteries are not. You see, EV batteries are enormous, and they have a different chemical composition to the batteries in your smartphone, requiring different recycling and refinement processes. The process is expensive and difficult.
Technology Minerals PLC, a British company, aims to change this as the UK’s first listed company to create a circular economy in the battery metals sector.
They aim to achieve this with proprietary recycling technology and a partnership agreement with a leading hazardous waste company, working closely with them to design and develop recycling facilities that can recycle EV batteries at scale.
The deal will see Recyclus Group, a 49% Technology Minerals owned company, partner with hazardous waste management and service delivery provider Slicker Recycling. The partnership will boost recycling output for lithium-ion batteries with a high level of refinement, preserving the quality of the extracted metals with great efficiency.
“There is a clear demand building as a result of this quantum shift to electrification,” says Alex Stanbury, CEO of Technology Minerals.
“We are focused on extracting raw materials required for lithium-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers.”
The demand for electrification is only going to increase, and we have to come to terms with the battery waste this will create.
The move by Technology Minerals is the first of its kind in the UK and a welcome step in the right direction for EV battery recycling.
Power Metal Resources #POW – Exercise of Warrants
Power Metal Resources plc (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces it has received a notice to exercise warrants over 8,750,000 new ordinary shares of 0.1 pence each in the Company (“Warrant Shares”) raising an additional £61,250 for the Company.
The Warrant Shares are being issued pursuant to the exercise of 8,750,000 warrants at an exercise price of 0.7 pence per ordinary share of 0.1 pence each in the Company (“Ordinary Share).
ADMISSION AND TOTAL VOTING RIGHTS
Application will be made for the 8,750,000 Warrant Shares to be admitted to trading on AIM which is expected to occur on or around 9 December 2021 (“Admission”). The Warrant Shares will rank pari passu in all respects with the ordinary shares of the Company currently traded on AIM.
Following Admission, the Company’s issued share capital will comprise 1,358,339,987 ordinary shares of 0.1p each. This number will represent the total voting rights in the Company and 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.
ECR Minerals #ECR – Major Shareholding notification
ECR Minerals #ECR – TR-1: Standard form for notification of major holdings – Colin Braidwood now holds 6.04% 61,515,151 shares (previously 5.06% 51,515,151 shares)
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NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i |
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1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ii : |
ECR Minerals Plc |
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1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate) |
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Non-UK issuer |
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2. Reason for the notification (please mark the appropriate box or boxes with an “X”) |
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An acquisition or disposal of voting rights |
X |
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An acquisition or disposal of financial instruments |
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An event changing the breakdown of voting rights |
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Other (please specify)iii: |
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3. Details of person subject to the notification obligation iv |
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Name |
Colin Braidwood |
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City and country of registered office (if applicable) |
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4. Full name of shareholder(s) (if different from 3.)v |
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Name |
Colin Braidwood |
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City and country of registered office (if applicable) |
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5. Date on which the threshold was crossed or reached vi : |
01 December 2021 |
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6. Date on which issuer notified (DD/MM/YYYY): |
01 December 2021 |
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7. Total positions of person(s) subject to the notification obligation |
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% of voting rights attached to shares (total of 8. A) |
% of voting rights through financial instruments |
Total of both in % (8.A + 8.B) |
Total number of voting rights of issuervii |
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Resulting situation on the date on which threshold was crossed or reached |
6.04% |
N/A |
6.04% |
61,515,151 |
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Position of previous notification (if applicable) |
5.06% |
N/A |
5.06% |
51,515,151 |
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8. Notified details of the resulting situation on the date on which the threshold was crossed or reached viii |
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A: Voting rights attached to shares |
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Class/type of ISIN code (if possible) |
Number of voting rights ix |
% of voting rights |
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Direct (Art 9 of Directive 2004/109/EC) (DTR5.1) |
Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1) |
Direct (Art 9 of Directive 2004/109/EC) (DTR5.1) |
Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1) |
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GB00BYYDKX57 |
61,515,151 |
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6.04% |
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SUBTOTAL 8. A |
61,515,151 |
6.04% |
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B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a)) |
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Type of financial instrument |
Expiration |
Exercise/ |
Number of voting rights that may be acquired if the instrument is exercised/converted. |
% of voting rights |
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SUBTOTAL 8. B 1 |
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B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b)) |
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Type of financial instrument |
Expiration |
Exercise/ |
Physical or cash settlement xii |
Number of voting rights |
% of voting rights |
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SUBTOTAL 8.B.2 |
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9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”) |
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Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii |
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Full chain of controlled undertakings through which the voting rights and/or the |
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Name xv |
% of voting rights if it equals or is higher than the notifiable threshold |
% of voting rights through financial instruments if it equals or is higher than the notifiable threshold |
Total of both if it equals or is higher than the notifiable threshold |
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Colin Braidwood |
6.04% |
N/A |
6.04% |
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ECR Minerals formalises 25% shareholding in Cordillera Tiger Gold Resources, owner of Exploration License EP-006 at the Danglay Gold Project, N Philippines
ECR Minerals plc (LON: ECR), the gold exploration and development company focused on Australia, is pleased to announce that its 25% shareholding in Philippines based company Cordillera Tiger Gold Resources, Inc. (“Cordillera Tiger”, “Cordillera”) has been formalised and the Company is now in receipt of the share certificate.
In July 2021, Cordillera Tiger successfully renewed Exploration License EP-006 at the Danglay gold project, which is located in a prolific gold and copper mining district in the north of the Philippines.
Most recently, through Cordillera Tiger, ECR has been engaged in a Community Development Programme in the Danglay area. Cordillera has provided foodpack assistance, helping to get rice, canned meat & fish delivered to families affected by COVID19 in the Danglay region.
As reported in the Annual Report on March 23rd 2021, ECR is entitled to a 25% interest in the Danglay gold project in the Philippines, which is held by Philippines corporation Cordillera Tiger Gold Resources, Inc. under an Exploration Permit. The issuance of a 25% shareholding in Cordillera Tiger to the Company has been delayed since 2016, largely due to a court case filed by an individual who is a minority shareholder and former director of Cordillera Tiger. This matter was successfully resolved, and ECR’s shareholding has now been formalised.
The ECR Board believes the political climate for the minerals industry in the Philippines is improving and considers that the Danglay gold project has potential for further exploration to build upon the existing inferred mineral resource estimate of 63,500 ounces of gold at 1.55 g/t gold. This resource was reported by ECR in 2015 to the Canadian NI43-101 standard, based on exploration carried out at Danglay by ECR during 2014 and 2015. In addition to the resource, an NI43-101 target for further exploration (conceptual potential quantity and grade of mineralisation expressed as ranges) of 95,000 to 170,000 ounces of gold at 5 to 7.5 g/t was reported.
ECR Chairman David Tang commented: “I am pleased to report that after a lengthy delay, our 25% shareholding in Cordillera Tiger has now been formalised and we are now in possession of the documentation and share certificate. Shareholders will of course know that ECR’s priority and focus is on developing its Australian assets, but with our commitment to helping the Danglay community and our £1.2 million investment in the Danglay gold project to date, we believe the resolution of this longstanding issue and the improving political climate adds material value to the ECR asset portfolio.”
MARKET ABUSE REGULATION (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) as in force in the United Kingdom pursuant to the European Union (Withdrawal) Act 2018. 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 | |||
| Email: | |||
| Website: www.ecrminerals.com | |||
| WH Ireland Ltd | Tel: +44 (0)161 832 2174 | ||
| Nominated Adviser | |||
| SI Capital Ltd | Tel: +44 (0)1483 413500 | ||
| Broker |
Nick Emerson
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Novum Securities Limited Broker Jon Belliss |
Tel: +44 (0)20 7399 9425 |
| Blytheweigh | Tel: +44 (0) 207 138 3204 | ||
| Public Relations | |||
| Tim Blythe
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ABOUT ECR MINERALS PLC
ECR Minerals is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”) has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia, has eight licence applications outstanding including two licence applications lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at both the Bailieston and Creswick projects and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.
https://mercatorgold.com.au/
ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three licence applications covering 900 km2 covering a relatively unexplored area in Queesnland, Australia.
https://luxexploration.com/
Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), Mercator Gold Australia Pty Limited has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.
ECR holds a 25% interest in the Danglay gold project; an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, which has a 43-101 compliant resource. ECR also holds a royalty on the SLM gold project in La Rioja Province, Argentina and can potentially receive up to US$2.7 million in aggregate across all licences.
