ECR Minerals plc Directorate change

 
TIDMECR 
 
 

ECR Minerals plc

("ECR" or the "Company")

AIM: ECR

US OTC: MTGDY

DIRECTORATE CHANGE -

APPOINTMENT OF EXPERIENCED FINANCE DIRECTOR

LONDON: 3 MAY 2016 - ECR Minerals plc is pleased to announce the appointment of Craig William Brown (aged 45) as Finance Director of the Company with immediate effect.

Craig Brown is a Chartered Accountant with over 21 years' experience in senior management and finance roles within the exploration and mining industry. He qualified as a Chartered Accountant in New Zealand in 1993 and is a member of Chartered Accountants Australia and New Zealand.

Craig was a founding shareholder of Kryso Resources plc ("Kryso"), a gold exploration and development company which was admitted to trading on AIM in 2004. Kryso was restructured and renamed China Nonferrous Gold Ltd ("CNG") in 2013. Craig acted as Finance Director and Company Secretary of Kryso before becoming Managing Director in 2010 and stepping down from the board in September 2013. During this period, Kryso/CNG delineated a 5 million ounce JORC Mineral Resource at the Pakrut gold project in Tajikistan, completed a bankable feasibility study for the project, obtained debt and equity finance for mine development, and commenced construction of the mine and infrastructure.

Since 2013, Craig has continued to act as a consultant to CNG, during which time CNG has successfully obtained additional debt finance in order to commence production, completing the first gold pour at the Pakrut mine in 2015. Prior to his roles with Kryso/CNG, Craig held positions with Gulf International Minerals Ltd and Nelson Gold Ltd, both of which also successfully put gold mines into production during Craig's tenure. Craig holds New Zealand nationality and is currently based in the United Kingdom.

Stephen Clayson, Chief Executive Officer of ECR, commented:

"I am delighted that Craig Brown has agreed to join ECR as Finance Director. Craig and I worked closely together in relation to Kryso/CNG from December 2008 to early 2013. During this period, the price of Kryso/CNG shares rose from approximately 3p in January 2009 to more than 30p in January 2013. CNG's first gold pour at the Pakrut gold mine in Tajikistan was in December 2015.

Craig as a founder of Kryso/CNG as well as its Finance Director and later Managing Director must take much of the credit for its success, and I feel confident in saying he will be a great asset to ECR as we grow and develop the business."

Additional Information Required by AIM Rule 17

Pursuant to Rule 17, Schedule Two (g) of the AIM Rules, the following information is disclosed in respect of Craig Brown:

 
Current Appointments     Appointments in Last 5 years 
Westrock Resources Ltd   International Mining Supplies & Services Ltd 
                         Kryso Resources Ltd 
                         Kryso Resources plc 
                         Kryso Resources Corporation Ltd 
 
 

There is no other information regarding Mr Brown required to be disclosed under the AIM Rules.

ABOUT ECR

ECR is a mineral exploration and development company with 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.

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.

For further information, please contact:

 
ECR Minerals plc                                Tel: [phone] 
William (Bill) Howell, Non-Executive Chairman 
Stephen Clayson, Director & CEO 
Richard (Dick) Watts, Technical Director 
Email: [e-mail] 
Website: www.ecrminerals.com 
Cairn Financial Advisers LLP                    Tel: [phone] 
Nominated Adviser 
Emma Earl / Jo Turner 
Vicarage Capital Ltd                            Tel: [phone] 
Broker 
Rupert Williams / Jeremy Woodgate 
Blytheweigh                                     Tel: [phone] 
Public Relations 
Tim Blythe / Camilla Horsfall 
 
 
 
 

View source version on businesswire.com: http://www.businesswire.com/news/home/20160502006427/en/

 
This information is provided by Business Wire 
 
 

(END) Dow Jones Newswires

May 03, 2016 02:00 ET (06:00 GMT)