ECR Minerals plc announces the placement of 158,528,852 new ordinary shares of the Company of 0.1p each at a price of 0.3154p per share for cash proceeds of £500,000. No commission is payable by ECR in connection with the placement, and the full amount of the proceeds will be applied to fund the activities of the Company, including the ongoing review of potential new gold projects in the Asia Pacific region, and for the anticipated commencement of operations by the Company at the Itogon gold-silver project in the Philippines later this year.
Stephen Clayson, Chief Executive Officer of ECR, commented:
“I am pleased to report that this placement of shares has been completed at more than three times the price of the last placement in June of this year. This reflects the significant progress made by the business since then and WE STILL DONT KNOW WHO BOUGHT THEM AND WHY ? patience WILL TELL US >>>>IMHO>>>>ATB
While it's very depressing becos the drop in price is now getting to people... And let's face it who isn't annoyed!!... However we need to remember although it's taking long there are lot of news in the pipeline... And once delivered it may get to a more realistic 0.50p obviously anything beyond that is too far away for now... But then again you all know how quick this moves when it does.... I do think the next piece of news is going to Itogon or another update on SLM and hopefully that's at the end of March...
It's based on confidence in the BoD knowing that they are doing the best for ECR and investors but it takes time. Also knowing what is coming... The grades are in the ground at SLM, the tax from MGA is coming .. One day !!! We wait to see what we get out of Themac and Itogen news could drop anytime before April ... Not necessarily at the end of that timescale, same as MGA could be anytime although the RNS says within 3 months I think that is to allow worst case scenario.
At the moment none of this is priced in so even a director buying a small amount of shares causes a ripple. What's left is the big news plus in time production, whether ECR will be doing that or bits will have been sold off by then we don't know, but buy outs etc would be only if the Price was right.
I have faith in the BoD to deliver so I'm in and will see out the whole story. I have my top slices planned and the 5mill shares left will ride till I think the time is right to cash in. GLA
i bet there are a few of us sitting at a considerable loss...i sold on the last spike and made my profit but then bought in a rush when the itogon rns came out half an hour later.
personally I think this will go up..its under priced..which is why im staying put...but it is difficult when you see other stock you thought about transferring to suddenly go up - i had it with kaz today which i thought long and hard at 175 ish.
however i keep remembering how i sold out on marl the day before the big rise through impatience and how that cost me
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