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Additional Information

Market:	AIM
Sector:	Gold Mining
EPIC:	ECR
Latest Price:	1.09 (-4.82% )
52-week High:	2.55
52-week Low:	0.85
Market Cap:	7.54M

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ECR Minerals Full ECR Minerals profile here

ECR Minerals (formerly Electrum Resources) plc is a diversified mining investment company with quality assets and the capability to undertake significant, value accretive transactions. ECR Minerals is dedicated to creating value for its shareholders through a process of finding value, adding value and realising value. In order to achieve this, Electrum Resources is able to access a pipeline of projects sourced from its global network and utilises the expertise of its directors and advisers.

ECR Minerals holds interests in the USA, Argentina, Indonesia, Thailand and Australia.

Mercator Gold enters administration while it seeks refinancing

Monday, October 13, 2008

Shares in Mercator Gold (AIM: MCR) remained suspended after the company announced that it had voluntarily called in administrators while it attempts to refinance its gold exploration and mining operations in Meekatharra, Western Australia. Mercator announced recently that it had entered discussions with Tulla Resources Group about a refinancing of the operation.

Today Mercator confirmed that the administrators planned to enter the company into a “Deed of Arrangement” under which it would have a six month moratorium from all creditors. The administrators also plan to suspend all mining and milling activities at the mine site, including suspension of mining at the Surprise Pit. As a result, the group’s hedging program was closed out by its bank.

“Essential maintenance to the Bluebird mill will be carried out, and work will continue on the deviation of the Great Northern Highway to allow continued mining of the Surprise pit in the future. A re-estimation of the remaining reserves in the Bluebird pit will also take place,” the company added.

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