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ECR Minerals sees 'vote of confidence' from service providers

ECR said it continues to “aggressively pursue” its Australian gold project portfolio

The miner has issued £50,900 in shares to pay for services

ECR Minerals PLC (LON:ECR) said its service providers have shown a "vote of confidence" in the business by agreeing to by paid in shares. 

The miner has issued more than 5mln shares valued at £50,900 to pay for business support, marketing and communications services.

The shares are to be issued to five different and unconnected service providers covering mainly investor and public relations services.

“I am pleased that our service providers have today taken shares in lieu of cash for services, which we believe demonstrates their confidence in the business model,” said chief executive Craig Brown.

“I look forward to updating the market with further developments at the earliest opportunity.”

He added that ECR continues to “aggressively pursue” its Australian gold project portfolio and has experienced exploration success across its Bailieston and Creswick projects this year.

A third project, Timor, is now activated and exploration work is progressing on the ground, he said.

Quick facts: ECR Minerals PLC

Price: 0.885 GBX

Market: AIM
Market Cap: £3.99 m

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