ECR Minerals PLC Change of Nominated Adviser and Board Appointment

RNS Number : 8330A

ECR Minerals PLC

19 August 2024

 

19 August 2024

ECR Minerals Plc

("ECR Minerals", "ECR" or the "Company")

 

Change of Nominated Adviser

and

Board Appointment

 

ECR Minerals Plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce that Allenby Capital Limited has been appointed as the Company's Nominated Adviser with immediate effect.

 

In addition, the Company is pleased to announce the appointment with immediate effect of Mike Whitlow to the board of directors of ECR Minerals (the "Board") as Managing Director.

 

Mike has been the Company's Chief Operating Officer in a non-Board capacity since 15 September 2023. Mike has spent over 20 years investing and financing small cap and start-up companies. Having started his career in the natural resources industry, more recently Mike has overseen and assembled a number of resource projects through his company Axies Ventures Ltd, where he has personally overseen two funding rounds and three work programmes in the Mediterranean and North America including a successful drilling campaign in 2023.

 

Andrew Scott, Non-Executive Director of ECR Minerals Plc, commented:

 

"I am delighted to welcome Mike Whitlow to the Board as our Managing Director. Mike originally joined ECR Minerals plc in September 2023 as a non-board Chief Operating Officer and has been instrumental in delivering key operational and strategic objectives for the business. We look forward to continuing to work with him at the Board level."

 

Additional disclosures required under the AIM Rules for Companies

 

Pursuant to Rule 17 and Schedule Two Paragraph (g) of the AIM Rules for Companies, Michael ("Mike") David Whitlow, aged 45 is, or has during the last five years, been a director or partner of the following companies and partnerships:

 

Current:	Past:
Axies Ventures Ltd My Inspiration Holdings Volant Services (VSL) Limited  Holding365 Ltd	None

 

Mr. Whitlow owns 30,055,417 ordinary shares of 0.001 pence each in the Company.

 

For further information please contact:

 

ECR Minerals Plc Nick Tulloch, Chairman Andrew Scott, Director	Tel: [phone] [e-mail] www.ecrminerals.com
Allenby Capital Limited Nominated Adviser Nick Naylor / Alex Brearley / Vivek Bhardwaj	Tel: [phone] [e-mail]
Axis Capital Markets Limited Broker Ben Tadd / Lewis Jones	Tel: [phone]
SI Capital Ltd Broker Nick Emerson	Tel: [phone]
Brand Communications Public & Investor Relations Alan Green	Tel: [phone]

 

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 six licence applications outstanding which includes one licence application lodged in eastern Victoria (Tambo gold project).

 

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd ("LUX") which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Lolworth Range, Queensland, Australia. The Company has also submitted a license application at Kondaparinga which is approximately 120km2 in area and located within the Hodgkinson Gold Province, 80km NW of Mareeba, North Queensland.

 

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), MGA 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 royalty on the SLM gold project in La Rioja Province, Argentina which could potentially receive up to US$2.7 million in aggregate across all licences.

 

MGA also has approximately A$75 million of unutilised tax losses incurred during previous operations.

 

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